Re: Oil Slick Stuff
Oil Prices Decline, but Government Prevents Consumers from Benefiting
The West’s leaders have failed conspicuously, yet again, over world oil prices, as they have failed as a group to grapple with almost any serious problem for some years. The latest fiasco is the attempt by the leaders of the democratic world to blame their economic ills on the decline of the world oil price. At sharp points of particular alarm over more than 40 years, our leaders have lamented the rise in oil prices, and have wept Niagaras of tears of sympathy for all who have to put gasoline in their cars or pay for winter heating fuel for their homes. Now that they are getting some relief, the new lamentation is for those who lose from the oil-price decline. The real problem is that in their profligacy and cowardice, our leaders are afraid to cut expenses and have become addicted to bloated taxes on petroleum products. This prevents them from giving full advantage to consumers as these prices are reduced. They shriek like violated banshees as oil prices rise, and in the same stentorian and acoustically irritating volume when they come down. Logically either a rise or a decline in oil prices must be a good thing, but our leaders seek the right to run around screaming for relief as if their hair were on fire whenever the oil price moves sharply one way or another. The notion of a recession owing to oil-price declines, in non-petroleum-exporting countries, is a complete and scurrilous fraud. The late Canadian government of Stephen Harper, which had a very defensible record in most areas, was thrown out in part because it simply shrugged, dropped its arms like a punch-drunk prizefighter, and mumbled that the declining oil price prevented a balanced budget and reduced resources for vote-buying programs. It suffered the fate of fighters who drop their arms when their opponent is not doing so: Harper is an ex–prime minister and ex–party leader, and the government has become the opposition. This was not overtly the chief issue in Canada, though it was often mentioned, and it need not have happened. It is not clear, and we will probably never know the relative importance of the factors that contributed to the Saudi decision to cut oil prices and increase production, inundating the world with a comparative glut in supply.
Read more at: The Oil-Price Decline and the Dysfunction of Western Government
Re: Oil Slick Stuff
Oil plunges into the $20s a barrel on Iran supply woes
Published: Jan 15, 2016 5:33 a.m. ET
Oil prices slumped on Friday and broke below the key $30-a-barrel level, as concerns about Iranian supplies adding to a global surplus kept the market under pressure.
Oil plunges into the $20s a barrel on Iran supply woes - MarketWatch
Re: Oil Slick Stuff
So what do they think will happen, will oil get so cheap they will have to stop pumping or just pay consumers for buying it? NAH!
Glutted oil market faces new flood from Iran
Millions of extra barrels of Iranian crude oil could begin spilling on to world markets next week, adding further to fierce downward pressure on prices, experts have warned.
With the United Nations, which completed inspections at an Iranian nuclear site yesterday, expected to approve the removal of trade sanctions as early as Monday, Iran has pledged to begin pumping up to half a million barrels of extra crude per day within one week.
Glutted oil market faces new flood from Iran | The Times
Re: Oil Slick Stuff
And our Government is helping them.
We’ve defeated the shale revolution, claims Opec
Low oil prices finally damage US production
Opec was on the verge of claiming victory over its North American rivals last night after its strategy of squeezing out the shale industry by flooding the markets with oil appeared to be vindicated.
The oil producers’ cartel said that falling prices would force lower production from its rivals by the end of this year, with American and Canadian producers particularly affected.
http://www.thetimes.co.uk/tto/busine...cle4668809.ece
Re: Oil Slick Stuff
Look no further than Chesapeake Energy Corporation. CHK. Second-largest natural gas producer in the United States. Down to $3 (Down 15% just today). 52 week high of 21.49
Re: Oil Slick Stuff
On the bright side, it will be a lot less expensive to heat our vehicles when we're living in them.
"Welcome back my friends to the show that never ends...
Re: Oil Slick Stuff
OIL down big time this morning. NOT GOOD for the Markets!!!
crude oil.jpg
http://www.marketwatch.com/investing...-%20electronic
Re: Oil Slick Stuff
EIA Petroleum Status Report
Released On 1/21/2016 11:00:00 AM For wk1/15, 2016 Economic Calendar - Bloomberg
Prior Actual Crude oil inventories (weekly change) 0.2 M barrels 4.0 M barrels Gasoline (weekly change) 8.4 M barrels 4.6 M barrels Distillates (weekly change) 6.1 M barrels -1.0 M barrels
Re: Oil Slick Stuff
US crude back above $30 after EIA stockpile data, Draghi comments
http://www.cnbc.com/2016/01/20/us-cr...s-bearish.html
Re: Oil Slick Stuff
Crude prices helping the Market!
crude oil.jpg
CLH6 Future Quote - Crude Oil - Electronic (NYMEX) Mar 2016 Future Price Today (CLH6:NMN) - MarketWatch
Re: Oil Slick Stuff
Here’s how to know if oil prices have hit bottom
Published: Jan 22, 2016 7:38 a.m. ET
Here
Re: Oil Slick Stuff
crude oil.jpg
http://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
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