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

Oil prices are bouncing back up a little the last few days,maybe they will go back to over 80$ at least.

 

You sound like you think trucking jobs or energy jobs will evaporate if work in a particular sector slows down. You seem to think the net increase in most peoples' income is of no importance compared to your own interests or the interests of a relative few.

You are very mistaken. Falling oil prices are GREAT for the economy. All of us are are benefiting from low gas, heating oil and natural gas prices; businesses are getting a big boost too of course and the lower diesel cost are helping us truckers to get higher wages; Have you not noticed the sharp rise in trucker wages recently?. Also, our electric bills are falling fast - that is great! (citation) http://www.bloomberg.com/news/2012-...-as-shale-brings-natural-gas-glut-energy.html

See, this is exactly my point: because your personal paycheck might fall a bit in the direction of the average for your field, you see it as a disaster and even imagine (against all evidence) that others will be hurt when, in truth, they are being helped. This is a very selfish way of thinking and I am calling you on it.

Now, man up and look at the evidence. Here are half a dozen additional citations from excellent sources explaining how falling energy prices are good for our country. You can find dozens more on your own. BTW these articles do examine the negative effect on some jobs and the reduced profits to some of the country's wealthiest corporations, but they all say that many, many more are benefiting and that the net gain is substantial.

It is also quite ironic that you complain of a "problem" you are helping to cause. Why do you think the price of oil fell anyway?

http://www.washingtonpost.com/busin...4984b2-7971-11e4-9a27-6fdbc612bff8_story.html

http://online.wsj.com/articles/lowe...t-global-economy-imfs-lagarde-says-1417479908

http://www.theguardian.com/commenti...l-prices-gives-west-chance-refashion-policies

http://www.forbes.com/sites/northwesternmutual/2014/11/27/lower-oil-prices-give-a-gift-to-consumers/

http://www.pbs.org/newshour/bb/will-plunging-oil-prices-affect-economy/

http://www.latimes.com/business/la-fi-federal-reserve-oil-dudley-fischer-economy-20141201-story.html

 

Where the hell do you see oil back at $85. Look at the cahrt. Todays WTI which is US Crude was 70.79. Another Crash after Jan 1. Bet my stock in Valero Oil. Never mind, I sold it.

 

There is a bigger picture. Read above

 

So it's "shallow selfishness" and "greed" to want my state and local economy to do well? Ok gotcha.

 

Jeez, some folks just can't handle good news

 

good news is all about perspective... Our perspective differs from yours....

Go back and read the history of the economy when the oil industry in the US crashes... the rest of the country also crashes....every time. The short term lower prices, are not offset by the harm done to the total Economy, and then the reliance on IMPORTED oil to keep the economy running.

The Royal family is manipulating the price, to once again be the top dog.

Would you rather be at the mercy of the Royal family of Saudi Arabia, and send US dollars to the groups who want us all dead, or keep the money local, and support the people of the US? You are advocating for the former.

 

You should write an article for Forbes or Washington Post since all the reputable economists and journalists have got it wrong.

There is a Pulitzer Prize waiting for you! What are you waiting for?

 

Opec will only follow Saudi Arabia so far. Most of countries are not set up to deal as well with the lower prices. If the price of oil drops much more and hangs for a while look for Opec to cut production to raise the price.