10 Reasons why a severe drop in Oil is bad

11. Because it makes Dick Cheney Cry

Halliburton Cuts 1,000 Jobs As Oil Prices Tank
Halliburton, the world's second biggest oil services company, said Thursday it is slashing 1,000 jobs in its eastern hemisphere offices amid tumbling global oil prices.

The layoffs, which are effective immediately, represent 1.25 percent of Halliburton's 80,000-person workforce.

[link to www.businessinsider.com]

I hope the price continues to drop and the slow down of oil use in the west continues, that way people can experience what the global warming caused by mankind crowd wants that is a western world run with expensive unreliable alternate renewable energy while the east gets the cheap diverted energy to fuel those jobs that were outsourced and so increase the investments of those that want the fat cat westerners to suffer while the east with no human rights and little environmental protects booms.

Guess what if oil stays at this price I will save over 1200 dollars in home heating oil this year compared to last.

Its horrible, what am I supposed to be with an extra grand in my pocket this year? Oh wait I have extra money to buy Christmas presents this year.


Millions of people saving money this year due to the low cost of home heating oil.

More money in peoples pockets is NEVER a bad thing.

Oh and a side note, if you're theory of oil will be left in the ground is true, than FINE something will take its place. Maybe something better for our planet!

Last Edited by Paggs on 12/12/2014 06:31 PM

Porn!



It's the only US industry left!

This is forgetting all the wonderful alternatives we have for energy available to us....

....


Cheap oil is a GREAT thing, it allows consumers to use retail products at a good price while the industry divests assets from fossil fuels to renewables due to lack of profits.

All in all, it is exactly what we need right now to kick start the energy revolution and save the global climate.

I wouldn't doub if they are selling off the reserves.

I'm trying really hard to find a downside to being able to put gas in the car at a more reasonable rate.

But I can't find one to justify being raped every week to go to work to get raped more when I get that paycheck that is sucked dry for taxes. Taxes then given to a lot of people who won't work. Retired people are not included in that. They worked for it.

I have a career not able to be out sourced to India or Pakistan or where ever they are currently shipping it too. So does my husband and 98% of the people I know. And of those, a good many more also have cash only/barter second jobs going on.

You know cheaper everything seems like it might let a good many of us go back to only ONE damn job. That would be nice, imagine it...leisure and rest and family time. I know stuff of legend right there.

How about cheaper prices at the grocery store for those of us NOT on the government teat, yah! that would be just all sorts of groovy. A roast a couple times a month instead of every other or only once. You know where meatloaf is normal again and economical instead of a treat.

Or and this one is going to seem like the talk of a terrorist here...but imagine..you can afford food, rent, utilities, gas for the car and maybe get some put into your savings or replace something you have been repairing so much it seems like it is on life support.

I don't know about anyone else, but I have damn near rebuilt my dryer over the last few years and I am getting really tired of patching this 25 year old beast back up.

But with a kid in braces, and the cost of such radical luxuries like food so we can feed the kids every day, a new dryer isn't in the budget.

The last crash totally wiped out my 401k. So if it hurts the billionaires and asswipes that caused all this I don't care.

Go ahead oil, drop baby drop. How low can you go?

Every industry goes through booms and busts if simply left alone to the natural cycle. Its when government steps in to try and save industries that the market no longer supports that real troubles begin, via corporatism and the like. Whatever jobs the oil industry may shed because of lower oil prices will be made up somewhere else due to the extra disposable income that people will have. There is no greater engine for an economy that cheap energy.

So if it will hurt the oil producing companies but provide a much needed break to all of the other Industries..... Won't that be a net gain for the U.S.?

And let's say they do get control back of the oil after killing off the shale companies. Once the price of oil goes back up won't the shale companies just go back into lock step and start producing? Even if it isn't the same "small" oil producers as before, there will be people who will seize the opportunity once it's again lucrative. Are you saying that once the Saudis put the shale oil companies out of business, they will be gone forever and never come back? No matter how much money can be made.

carshing the USD

That's true, but sheeple are clueless about that. The price of oil will be grossly inflated even at 50$ per barrel. This price drop strengthens the petrodollar and weakens the ruble, that's the game.

You are spot on. Here in shale central, these companies operate without a budget or consequence. I get so mad because I know that oil and gas could be produced so much cheaper. The investors are gonna loose their ass then pass it to the pump.

I would tell you guys what to do, but you're brainwashed with Demo and Repug crap and economic theory you can't hear it.

Have fun I guess

The problem is that when those assets go up for sale they will get bought up by foreign oil companies, also the othe risk could be default on loans those company's have taken out to expand. The oil market is holding on by a string right now- yes the us companies can sustain losses for a short period but if this lasts too long the hurt on our economy as well as the entire world will be quite large.
What kicked hitler into over drive was when his oil supplies were cut off prior to ww2. If you want a war just mess with a countries resources and money.

This isn't going to end well.

People always think it's great when things are cheaper. I'm sure you shop at walmart instead of the 50 small businesses it destroys in each little town as well. You don't even have a choice now as they have all shut their doors sadly. Sometimes it's better to pay more.

Do tell! what's your thoughts on the subject?

Right, because we badly need oil. That makes no sense. If we badly need oil wouldn't the price be up?!

Did you see this chart? [link to gailtheactuary.files.wordpress.com (secure)] According to this chart, we don't need energy resources...

And if they are not purchased by foreign entities they will be purchased by the large oil companies we all hate. The people hurt by this are your small business owners and small corps. The huge companies wont be. They will sustain as always. However the smaller companies will be gone. This will get rid of 90% of the small producers. The oil industry provides hundreds of thousands of jobs. Most of these will be gone if this keeps up. It's already not profitable to pull it out of the ground in a lot of places. Wellhead oil is much cheaper than Brent or WTI.

Please keep an open mind and look deeper. The risk here is if it playmates further or the decide to keep it low and he market flooded.

This can and will cause a war.

Lousy logic ^^ (deviously loaded)

This "low price" of oil is NOT a true reflection of the supply/demand BALANCE,
because someone decided to do EXACTLY THE OPPOSITE of what you are saying ("it will simply be left in the ground"),
that is extract it from the ground and keep selling it at a lower price than the "balanced" one.

In other word this is a gift made by the Saudis to the world and we should be happy!

Actually, it is an act of desperation of the petrodollar cabal against the new monetary system backed up by gold put in place by BRICS

It won't be long before the feds and states start sliding in higher taxes for gas while its cheap!

Nope.

Cheap energy is the one and only thing that allows a growth in an economy and industry. It comes either in the form of men doing work for low wages or as slaves, or alternatively by using fuel and machinery to achieve more and greater work in less time. If we are wise as a nation, we should use this time to rebuild, improve, and extend infrastructure. This will create jobs, increase safety, and encourage other growth and entrepreneurship. We need to reduce congestion in cities and incorporate more naturally with nature and the landscape as we rebuild efficient and superior transportation networks.

What will happen instead though, is they will try to "fix" the "problem" using imaginary sob stories as their public reason, when privately it is for personal gain of certain individuals or corporations, which will fuck it all up as usual.

I don't know about European airlines, but the American airlines have been scraping by for many years.
There still quite of older planes that need to be taken out of service.
New airplanes cost a shit load, so I say let them make a few bucks for a while.
I don't want to die in a 30 year old MD80 for a $99 fare.

By the way, the "what we should do" i mentioned would have the effect of causing usage and prices of fuel to increase, thereby "fixing the problem" but with a positive gain in the process. "They" will try to fight and control it to get credit, instead of letting "Jevons paradox" resolve the situation on its own.

Oil Shill

(OH NOES! Oil Prices are dropping! WE NEED TO MAKE OIL MORE EXPENSIVE!!!)

Die choking on the money they are paying you to sell out America.

Let's think one level above this thread.

Can you imagine all the technology that has been suppressed/vanished for many years because of the forced use of this cheap resource that can be taxed, manipulated and traded for the highers to use as a piggybank?.
Problem is people have jobs in the oil sectors bigtime from all the sands and fracking expanding/was. This downturn could be used to stamp out the only real expanding sector of our economy that is left.

This will enable the dollargods to do quite a few things.

1. Crush small to midsize domestic oil producers and all of their support businesses that depend on oil out of the market.

2. Crush the fastest 'inflation creator" jobs at a time when everyone is abandoning the dollar worldwide.

3. After 6 months the dollargods can start exporting dollars in large quantities again, through the petrodollar for their oil program.

4. Everyone that was employed through the oil chain that could have been a potential inflation creator, domestically through the fractional lending system, is now an inflation consumer domestically. Consuming electronic digits/checks (inflation) just printed up and directed to those poor souls. So the unemployed oil chain person, never have a chance of using that old savings, spending or investment account creating $9 for every $1 he produces to lend to someone else.

That's the kind of inflation that is good and builds an economy. The kind you are seeing like SS, welfare, foodstamps, WIC, unemployment, disability and on and on, is just printed up and has a pinpointed target to keep the recipient poor and dependent an the man. The inflation domestically that he could have created, from the oil worker remaining employed, is no worry to the dollargods now, because they can just print him up a check. All while they use that potential fractional system he would have used to expand the economy, too now shore debt in this time of need.

Ask yourself why the stock market has went ballistic over the past few years? Because nobody but the market manipulators have use/access to/of all that money. Everyone's money is parked/purgatory and not adding to inflation, while their comfort level keeps going up on paper.

Inflation snuffed !

But, that means we can print more right ?

5. and last but the least. Russia pressure.

saudi arabia said that they will continue current production values despite current supply and global prices..
read in wall street journal.
this is a game that is being played between big players.. that is all.. they will go back to highway robbery of us once they reach their goal.

another rigged game as well hahha.. you are a moron