I think there will be a surprise cut by a minimum of a million barrels before next meeting ...will send oil up a minimum 10%... First though there be projects shutting down ...they didn't cut for that reason. They know if they don't cut and send prices down it will shut projects down in the US....once oil drops below $60 there is no money to be made on most drilling here in the US. That will send most little drillers scrambling ...will also cause more mergers....it will also slow down the shale projects as well....oil dropping is going to cause massive panic in the credit markets....watch will that will do....one positive is saving $12.00 a week on that fill up...now were talking.
Commodity bulls getting shafted. Perma bears getting shafted. Dollar doomsayers getting shafted. See a pattern here? I do: don't short America. Don't short freedom, capitalism and free enterprise. Is this a great country or what? I keep telling my kids they should be grateful living in an era of unprecedented wealth creation and boundless opportunities for everyone.
That's the reason I never trust CNBC, they often say the opposite things. For example, when they say 'has the market topped', it has never toped. When everybody is buying, and no headline such as 'has the market topped', I will start to consider selling.
Except America is not safe anymore. There are more risk that you will get shooted on the street than any country in the europe.
What happens when oil prices get so low and energy companies can't cover the cost of production? What I find amusing is that no one saw this drop in oil coming....not one...so sit back and make that sink in when the next fall out occurs in another asset class.
After looking at the chart of oil, I think it's been manipulated, just sell in the key day and make it red then the following selling power will follow, they are the more nasty ones.
Where is Peter Schiff now? Where's the Dollar collapse? Where is Marc Faber now? Didn't he guarantee crashing treasuries? Where is that Shadowstats goof? Where's the hyperinflation that was supposed to start 2012? Where Jim Rogers? How's the commodity bull market doing? You do the EXACT opposite the bearish goofs are telling you and you clean up like clockwork.
These guys will keep doing what they always do..... Talk about doom, gloom and inflation happening "in the future" to idiots who listen to these buffoons.
Oil down again tonite... OIL64.50 -1.65 -2.49% My question How long before I see prices at the pump drop 10% ? Haha Oil has fallen from $76+ to under $65 in the last week and a half...now that's more than 10% drop...I want to see how long that takes to trickle down ..because I know when prices jump they are out there the same night raising the prices by dimes and quarters.....so lets see I paid about $3.25+ last week. That means this week it should be under $2.99...