SAM RO Anyone in America who drives a car is probably happy to see crashing oil prices translate to falling gasoline prices. WTI crude oil has gone from above $100/barrel this summer all the way down to around $76/barrel this week. While the economy is likely to benefit from improved consumer sentiment, low oil prices also come with negative effects. Specifically, if prices get too low, then energy companies won't be able to cover the cost of production in the US. This spending by energy companies, also known as capital expenditures, is responsible for a lot of jobs. "The Energy sector accounts for roughly one-third of S&P 500 capex and nearly 25% of combined capex and R&D spending," Goldman Sachs' Amanda Sneider writes. Wall Street's economists and stock market strategists have argued that the next leg of the recovery and bull market would be fueled by a boom in capex across US businesses. So a slowdown in energy industry spending could mean trouble. "Our commodity strategists estimate that US oil production growth slows at a WTI price of $75/bbl, which they forecast will be reached in 1Q 2015. Even before then, the nearly 30% decline in crude oil prices since June has likely caused many firms to rethink planned capex." Goldman, however, is optimistic that we won't experience a worst-case scenario. "A slowdown in Energy sector investment will weigh on aggregate S&P 500 capex spending in 2015, although growth for the sector, and accordingly for the broad S&P 500, should reaccelerate as oil prices rebound in 2H 2015." ------------------------------ While the current situation won't last, it is worth noting that the idea that we don't have to worry about any of this for decades has no currency. We are being held hostage now just as we were 40 years ago, only now the motives of OPEC are somewhat different. We can't bet that they'll wait another 40 years for the next move.
You don't have any facts that I see. AGW doesn't exist. If you want to spam up this site with this nonsense I'm going to respond post for post... forever.
So then, according to you, around 97% of the world's climate scientists are wrong. Is that correct? Because that is a fact. Or is it that CO2 is NOT a greenhouse gas. Or maybe that CO2 does nothing to our climate. Or maybe we have not raised it's levels by 40%. Those are facts also. I mean, you must have good reason to keep saying that AGW does not exist when anyone with more than half a brain can see that of course it does exist.
Shut the fuck up and read .......idiot. Maybe you ignore facts, but rational people don't. http://en.wikipedia.org/wiki/Scientific_opinion_on_climate_change
When are you EVER going to say something intelligent? We have been waiting for years.... and all you have done is repeat the same nonsense over & over again like a retarded parrot.
Well that is true of one us for sure. And I'm the one agreeing with virtually the entire world's science community. You do the math. LOL