Cheap oil here to stay.....

[Tyrannical]

Thanks to the miracle of fracking cheap oil is here to stay.

http://www.telegraph.co.uk/business/201 ... tandstill/

Tl;dr

Fracking got cheaper faster than anyone expected, 90% US wells profitable at $60 oil. A lot of it profitable in the $40 range. Opec nations dependent on oil in rough shape.

[Tero]

Gasohol under 2 dollars here.

[Tyrannical]

Saudi arabia could be bankrupt in five years, they need $100 a barrel oil to break even given their spending. About 90% of workers are employed by the state, and saudi arabia gets about 90% of their income from oil. They were in the hole about $100 billion last year.

[cronus]

Need a new base commodity to back the reserve currencies of this world. I'd suggest gold. It's got a track record for holding value.

[DRSB]

Russia is fine at 40 but not below.
The whole down-pressure was created additionally to contain Russia, this Putin-guy that had starting assuming too much. Now it is backfiring for some.

[NineBerry]

Thanks to the miracle of fracking climate change is here to stay.

[cronus]

Russia is fine at 40 but not below.
The whole down-pressure was created additionally to contain Russia, this Putin-guy that had starting assuming too much. Now it is backfiring for some.

You can buck the markets, you can't control them. Gone on too long for it to be a conspiracy. Low price is a result of a abundance of oil from a abundance of sources.

[Animavore]

Yay! More destruction of our Earth and environment. Aren't humans just wonderful?

[pErvinalia]

God put it there for us to exploit.

[Scot Dutchy]

Who cares? I wont be around.

[laklak]

Get a boat.