Ohh man doesn't look good, i'll get a beer this evening and head to Costco in the morning buy some basic foods for long term. oil at 27 usd/barrel down 33% Crude Oil Price - Investing.com DoW Jones futures -1207 Stock Indices Futures - Investing.com 10 year bond yield 0.528 -0.179 -25.26% United States 10-Year Bond Yield - Investing.com world markets all deep in red, Contrats à Terme sur Indices Bousiers - Investing.com
The amount of freight that services the oil industry is just a small percentage of all freight being moved. if you run pipe out to new well sites your freight will nose drive, but it will only have a small effect on the rest if us. Oil prices dropping will not slow down steel manufacturing, timber, mining, construction projects, dod moves, aerospace industry, auto manufacturing, or any thing else not related to the oil industry. If anything the average joe spending less money on gas means he has more money to spend on goods such as finally replacing that washer and dryer set that's rusting out his wife complains about weekly. If ya work in oil, this sucks. But the rest of us get to enjoy more money in our pocket due to low oil prices.
Another benefit is the road construction costs go down .. you may see more paving and such this summer
I filled my tanks today at the TA in Commerce City, CO, to then see that it will lower 17 cents tomorrow! What is wrong with this world! On the bright side, I’ll be getting a 15 cent discount at a TA in NV tomorrow.
