evlblkwpnz 3,418 Posted January 19, 2016 Report Share Posted January 19, 2016 (edited) I can't take me eyes off of them around here. They continue to drop, almost daily, and I am awestruck with each reduction. It is now at $170.9 at my favorite station. It may sound odd, but it gives me an uneasy feeling, as if something very bad and significant is about to happen. ETA: $169.9 today..... Edited January 20, 2016 by evlblkwpnz 2 Quote Link to post Share on other sites
Dad2142Dad 6,559 Posted January 19, 2016 Report Share Posted January 19, 2016 1.51 here this morning, gonna suck when the Saudis gone on EBT cards........ Quote Link to post Share on other sites
Heartbreaker 1,085 Posted January 19, 2016 Report Share Posted January 19, 2016 Around here it was about 1.50 through December til new years when it jumped to 2.00, and it's around 1.60 now. Quote Link to post Share on other sites
Sim_Player 1,939 Posted January 19, 2016 Report Share Posted January 19, 2016 And....Iran is about to dump their oil on the markets! I'm bothered that someone might start a larger conflict to boost the price of oil. 3 Quote Link to post Share on other sites
Rhodes1968 1,638 Posted January 19, 2016 Report Share Posted January 19, 2016 We had a saying when I played football not sure if it is still common about hearing footsteps. It was used commonly when a receiver takes his attention off the ball because he hears the footsteps (or yell) from the defender closing in for the hit. We even had a drill for it. Yes the footsteps are loud and yes the hit will be brutal. At one point this month there were NO ships of commerce in the North Atlantic between Europe and North America. None Temporary of course but its never happened before and this is tracked as an indicator. https://www.youtube.com/watch?v=OG9mCeSUnFE 2 Quote Link to post Share on other sites
patriot 7,197 Posted January 19, 2016 Report Share Posted January 19, 2016 I'll enjoy it while it lasts. I need to get Kero for the garage heater soon anyhow... Quote Link to post Share on other sites
JDeko 792 Posted January 19, 2016 Report Share Posted January 19, 2016 1.41 here. 1 Quote Link to post Share on other sites
Wolverine 10,360 Posted January 19, 2016 Report Share Posted January 19, 2016 When the Middle Eastern Oil Barons have bankrupted all US producers with their cheap glut, then watch supply and cost. 2 Quote Link to post Share on other sites
yakdung 2,926 Posted January 19, 2016 Report Share Posted January 19, 2016 I can't take me eyes off of them around here. They continue to drop, almost daily, and I am awestruck with each reduction. It is now at $170.9 at my favorite station. It may sound odd, but it gives me an uneasy feeling, as if something very bad and significant is about to happen. Smart observation. It is only about energy independence within this country which Obama does not want (enemy within). We have more reserves in the US than the middle east, and the Saudi's don't like that. Eventually something will break. I found it interesting Obama would not approve the Keystone pipeline (environmental concerns and protect Saudi's), but allowed Warren Buffet (supported Obama in election) to ship the same oil on his rail lines which is more dangerous through the US. Keep eyes on Venezuela I think it is about to blow. If it were me, I would take the oil and cast them out into the desert. 2 Quote Link to post Share on other sites
Remek 771 Posted January 20, 2016 Report Share Posted January 20, 2016 There's tankers off Texas coast filled with oil. Commercial maritime traffic is close to a stAndstill. I think we are close to the financial collapse our government has been working at for the last 30+ years. Gun up, carry, and remember we are all out there somewhere! Quote Link to post Share on other sites
HB of CJ 1,263 Posted January 20, 2016 Report Share Posted January 20, 2016 $Low$ oil can economically hurt regionally. Kern County CA government gets about 30% of their general government operating fund monies from the sale of local crude oil. Kern County is one of the most prolific oil producing areas in the lower 48 states. Bakersfield CA City gets about 10%. Low oil prices means less sales tax revenue which means layoffs. Kern County has already lost near 2000 very high paying oil field related jobs. The City and County are facing layoffs of public employees, which has hardly ever happened before. Worse even than 2008. Gets worserer. California State Employees Retirement System, (CPERS) has again painted themselves into a tight economic corner. My firefighter service pension comes from CPERS. $Reductions$ may be a coming. This is a good example to me how low oil prices can come to hurt you. Ouch! Quote Link to post Share on other sites
garnaz 215 Posted January 20, 2016 Report Share Posted January 20, 2016 Election year. This drop happened when barry got his first term. Temporary till next middle east event Quote Link to post Share on other sites
evlblkwpnz 3,418 Posted January 20, 2016 Author Report Share Posted January 20, 2016 For years I heard fellow union guys hate on "Big Oil" for so long and those same guys had no clue that their retirement funds were largely invested in just that, "Big Oil". Those idiots will probably celebrate the strain on the oil industry, lol. 2 Quote Link to post Share on other sites
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