Crude oil is $86 today.... beginning of the end?

And just how much difference do you think an extra $30-$40 per month will make for the average family? The media likes to act like lower fuel prices will revitalize the middle class but the impact to your wallet will be minimal. Since turn about is fair play, let me know what field you're in and the next time your bread and butter that you support your family with is in jeopardy I'll come to your forum and mock your misfortune.

 

We'd have to have real numbers to work with to say so definitively. I doubt truckers migrating back from the oilfields would have a significant impact on the rest of the industry. Not all will leave, and I think the pool of non oilfield jobs is large enough to absorb them. At first glance, the job market and wages seem surprisingly strong for anyone willing to go OTR.

Personally, I'd hate to run OTR again. Probably leave the industry, first.

 

I hear you.

 

I drive my pickup a lot, about 400-450 miles a week. I am saving about $60.00 per month. Meanwhile my health insurance goes up $93.00 a month beginning in January. Media is a propaganda tool, not news or journalism

 

I guess we're bickering too much. My apologies to the forum ....

 

I agree with the part I underlined but some on here had no respect for people whose opinion is different than theirs and will bad mouth them.

I've got a nephew who works in the oil business yet he respects my opinion on issues such as this even though it means less money for him.

And it seems they may feel we should not express our opinions in this forum.

 

Is an oil field forum full of oil field employees worried about supporting there families an appropriate place to express your happiness about the possible decline of the oil industry? Seems pretty tactless to me.

 

This is still just a working premise for me, but I've been following some of these things and tracing their roots for years. Russia has a naval base in Syria, Russia supports the government of Syria, Syria is the next domino in the plan outlined here:

https://www.youtube.com/watch?v=nUCwCgthp_E

The timing of all this, a radical drop in oil prices as if no one foresaw it...no one foresaw it? Conflict of Ukraine and Crimea as I said; economic sanctions on Russia; effect of low oil prices on Russia...

 

short term looking people think lower oil prices are good for the economy... for the short term for a small majority it is a good thing.... 3 to 6 months

but if one takes a longer view of 1 year, lower oil prices always leads to economic collapses, that ripple world wide. Steady Oil prices are when the economy grows.

Russia NEEDS the Ukraine, for two reasons, it is the bread basket for the area, and it gives russia the pipelines and ports to export their natural gas and oil.

These low prices will hurt Russia, Valenzuela, who have large leverage debt a whole lot more that Saudia Arabia...

The big question for me is can the USA survive with the huge debt we have? And many of the oil field companies are heavily leveraged also. How many banks will fail when the loans come due?

I know that with simple searches every "economist" says lower oil prices is good for the economy... but look at the period they are saying....

Look to history, and you will see that they love to blame oil for everything. Well it is in everything we buy and use.

 

Ben,
I agree with your thoughts. It would be similar to going to O/O section and stating "I hope we have CARB put into effect in the whole country". Its just inflammatory, why would someone do that? A lot of families are going to get hurt and they are people who are willing to work. Yea I know that a lot of families outside of West Texas will benefit from lower fuel prices.