Most sites seem to be pointing the finger at the North Korea test and oil prices.
how long are people in 'oil country' saying it will stay low? as long as the arab countries are dumping their cheap oil it will stay low right? or are there other factors?
I was reading recently that now even storage is an issue. There is so much oil the storage facilities where people were holding it for a better day to sell are full.
>I'm a premium guy myself.. Always been expensive to feed it to the 5.4L
I remember it being +10c or something each jump from 87, 89. 91... but now it is like 20c. My numbers are probably off but it is for sure a bigger jump.
OP here, did not realize.
I think its going to get worse. There are tankers filled with unsold oil storing it on the ocean, waiting for someone to buy it. There are people out here (western ND) that think it will get better but if it does it would probably benefit Texas more than any others since it is the cheapest drilling in the US.
I'm lucky to still be employed.. I was thinking that I'd get laid off after the new year but I saw I was scheduled clear into the summer so I'll be alright for a little while longer
Good to hear you didn't get laid off, wish you the best man.
>tankers filled with unsold oil storing it on the ocean
That must rustle the environmentalists jimmies (even if it isn't very risky).
>oil prices reacting to markets
oil prices are controlled, it isn't a price reaction its a human reaction
call me a conspiracist, but I think this downturn in the market is a reaction to political favour beginning to turn towards renewables.
>being this bad at economics
Its not that demand that's lessening; it is in fact increasing, but the growth of supply is outpacing it.
Chyna is slowing down/has been slow for awhile, and not causing the shortage they once did.
Its not demand for renewables that's causing the downturn.. Its hybrid of humans being too good at getting oil out of the ground and emerging countries slowing their growth curve.
I didn't say that demand was lessening. I mused that as political pressure has moved towards subsidising renewable forms of energy OPEC coincidentally pushed down the global price of oil.
Subsidy programs in the UK have been scrapped since. At a time when north sea oil is on its way out. it could just be mismanagement. But its mismanagement so perfect as to appear conspiratorial.
By CHRISTOPHER S. RUGABER
AP Economics Writer-
"Employers added a robust 292,000 jobs last month, and the unemployment rate stayed low at 5 percent, the Labor Department said Friday."
When did 5% come to represent low unemployment? Is that the benchmark now? We've had to continue to scrape and claw to stay afloat in our family businesses, despite losing nearly half of the competition we had in 10 square miles. People still don't tolerate necessary price increases and land lords want to renegotiate rents all the time based on inflated real estate numbers.