crayons: I know what usually causes this. but this time It's different what do you think?
Everyone in the poor and middle classes in Africa, China, India and Russia junked their cars and now drive motorcycles or ride around on their asses instead?
It's crazy..At $4 the economy booms and at $2.75 it busts..Or the futures traders are shaking out the weak longs b/4 heading back up to new highs..$4.50??? or a combination of both..
West texas crude dropped 94 to 75 in two months, thats a huge drop. Putin is livid and thinking nuclear despite what you may have read. Low enough oil prices can bankrupt Russia. Its not a cyber war, its not military, its oil and money. Isis gets most of its money from oil production seized from Iraq. The link above is ten minutes old.
raphael119: http://www.economist.com/news/leaders/21633813-it-closer-crisis-west-or-vladimir-putin-realise-wounded-economy West texas crude dropped 94 to 75 in two months, thats a huge drop. Putin is livid and thinking nuclear despite what you may have read. Low enough oil prices can bankrupt Russia. Its not a cyber war, its not military, its oil and money. Isis gets most of its money from oil production seized from Iraq. The link above is ten minutes old.
yeah western banks have to keep floating petro dollar continue dollars fer oil.
crayons: I know what usually causes this. but this time It's different what do you think?
A drop in demand caused in part by a slowdown in China . US both producing more mineral oil and more synthetic oil won't be helping the price stay high either . That ISIL oil floating around be good to hook into . Ask the Aussie mine industry to confirm Chinese slowdown .
Have made a fair amount of money in the pass, trading Oil Futures, long and short. I use to think that I knew the reason or cause of the fluctuation in price, either due to Geopolitical or supply and demand, or both, but honestly, I don't know the underlying reasons. At times, the prices do seem to be out of reason, compared to conditions, at any given time.
......hurt the Iranian economy when Iran is in negotiation with the US on it nuclear programs
......made the Keystone pipeline less financially viable
......made it easier for the struggling economy of the Ukraine to acquire western fuel products
.......kicked a little sand on Vensaelian oil income
.......as Conrad has to nicely stated....kicked Putin in the conchies as Russia's main export is fuel products.
The fuel price decreased with the increased in the output of Saudi Arabia and the United States....so take that you that doubt Keynesian economics So the price reduction plays into the foreign policy of both the US and Saudi Arabia but I will not mention the word 'collusion' between the two.))
......hurt the Iranian economy when Iran is in negotiation with the US on it nuclear programs......made the Keystone pipeline less financially viable......made it easier for the struggling economy of the Ukraine to acquire western fuel products.......kicked a little sand on Vensaelian oil income.......as Conrad has to nicely stated....kicked Putin in the conchies as Russia's main export is fuel products.
The fuel price decreased with the increased in the output of Saudi Arabia and the United States....so take that you that doubt Keynesian economics So the price reduction plays into the foreign policy of both the US and Saudi Arabia but I will not mention the word 'collusion' between the two.))
nice reply. I am not aware of collusion but it would not surprise me...lol
As far as the states, even without Keystone (which "as is" I think is a bad idea) the states are going to continue to become more and more energy independent. However that affects overseas markets? whatever folks....energy independence is a goal for this country and the overseas markets will have to be creative and find other buyers. It's pretty much that simple.
What this current trend tells us here in the US tho,' is what we have known all along: That gasoline prices were waaaay overinflated and we were paying way too much. The prediction that I heard is that the price of gasoline will remain low for quite a long time.
In the past in this country, once gas prices get too high it has had a negative effect on the tourism, trucking and shipping industries who are also influential in keeping the price lower here.
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but this time It's different
what do you think?