Oil prices
 

As many if you know I work in the oilfield. So yes these plunging prices have had an immediate impact on a lot of us down here. I kept saying this would not be good in the long run and many kept saying I was crazy this can only be good.

Read ahead see if this is still good.

http://www.businessinsider.com/opec-...-barrel-2015-1

I read the entire thing and I didn`t see anything how low gas prices are bad?? Certainly isn`t bad for my wallet.

when I'm filling my boat this summer,,I'll reflect,when it sucked,,, when oil was high.I may have to build new engines,,just to use more gas.

$200 dollars a barrel? How much do you think gas prices will be then?

Propaganda. OPEC is no longer relevant.

A good article from December:

http://theconversation.com/opec-v-oi...ts-power-34923

Let me add that I'm sorry that this situation has hit you in a negative fashion. I saw you post before that the downturn had hurt you. TZ

Believe that if you will. We are a producer but we don't export and for good reason. OPEC has driven the price so low Russia is crumbling beyond fast. OPEC knows what they are doing and that article is a farce. Hahaha

The oil industry is like any other, its simply supply and demand, where I live it's wheat, apples, cherries, or whatever, the market will set the price. Over production or under supply will cause wild swings in prices. Believe me I've lived it! When meryl streep made her rant about alar in the 80s it decimated the economy of our town and bankrupted many not so small companies. Not saying its good, but it's the new reality and be ready or beware.

No doubt. I'm prepared. Oilfield is a roller coaster. The downturns still suck. It will come back and be stronger than before until it plummets again. Many who work down here live at or above their means. I don't. So barring layoffs which have already happened to more than 20,000+ people I can survive a paycut which has happened to countless more. However I need it booming again so I can buy my damn boat. Lol.

I know it will come back strong. I was pretty happy at $100 a barrel. I fret for everyone else it will go much higher because of what that article explains. Everything brought to halt on drilling means when demand picks back up supply will be more limited. That will drive the price even higher.

I have to think some of that is propaganda, because smart money will jump in in on the uptake, and there is a lot of money smarter than most of us .lol