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Guess What Happened The Last Time The Price Of Oil Crashed Like This
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[quote:Anonymous Coward 65659308:MV8yNzA5MDYyXzQ3NjY5MjI4Xzk3Qjk1MUVF] second half of 2008 it indeed dropped from 100 to 40 but thats because the stockmarkets where hammered around the world at that time and the economy was slowing down because of the financial crisis. Now stock markets are still rising. You can't compare the 2. [/quote]
Original Message
There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months. Well, now it is happening again, but this time the stakes are even higher.
If the price of oil stays at this level or continues falling, we will see a significant number of U.S. shale oil companies go out of business and large numbers of jobs will be lost. The Saudis know how to play hardball, and they are absolutely ruthless.
[
link to www.talkmarkets.com
]
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