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

Then, it appears, you are using the spot market pricing for your freight... as most long term contracts have an adjustment to account for the change in fuel costs...

Yes good for you, bad for that O/O in the oil field who had his income cut 50%, or 100%.... net effect to the TOTAL economy, zero, as the small increase in your income is offset by the decrease in that other person's income.

 

Yes I believe what I say.... And yes one person's income rises, while another persons income decreases... as far as a wage earner, his purchasing power does NOT offest the lost dollars from the investments made by the oil companies. Total economy effect is no growth, and if the investments are decreased for more than 6 months, then a crash for the entire economy... so enjoy it while you can.

Same thing I have said to anyone in the oil field industry, make your money while you can, for there will be a crash.

I see MP3 > CB has been banned, but I had to answer.

 

For those that hedge their bets correctly, all is good, for others, they will end up like flying J did during the last price crash... all those high dollar crude oil contracts bankrupt them, and Pilot bought flying J for a very discounted price.

 

Not to sound cold but why should I care? When that O/O was making huge bucks when gasoline was at it's peak did he share his profits with me? Capitalism is every man for himself.....

 

Did I hear right, crude closed under $50 a barrel today..

 

What was it on Friday?

 

Yup ,West Texas crude bla bla closed at $49.95 today.

 

Exactly. Don't wish bad on anyone but markets go up and down all the time. One has to put cash back for a rainy day. And wait it out or move on to greener pastures when things are down. I have already read about seveal oil field drivers who saw the writing on the wall who have moved on - with their bankrolls. One was on here thanking the boom for allowing him to buy a truck, and he has moved on. The truth is it' better for everyone when the shaky and weak over-extended companies fail. It needs to happen. All this cheap cash and easy credit allows too many to be in business who really should not be. Which has a depressive effect for everyone. Again, it's nothing personal and I don't think anyone wishes bad on the operators still in the oil fields but that's just how it is.

 

http://oil-price.net/index.php?lang=en is showing WTI $50.04 this morning. Down $2.64 .

 

think that was yesterdays close. wti is at 47.95 and brent is 51.22 at this moment