Oil Price Crash!!!

logopodcastOff the microphone of RE

Follow us on Twitter @doomstead666
Friend us on Facebook

Aired on the Doomstead Diner on November 29, 2014

So Much for Levitation…

wileycoyote1

How LOW can we GO here?

https://doomsteaddinerbeta.files.wordpress.com/2015/06/cb80b-oilpricesnov2014.png?w=664&h=488

Bad Times for Frackers…not a good time to stop sniffing glue…

Halliburton gets HAMMERED

https://i0.wp.com/markets.money.cnn.com/services/api/chart/snapshot_chart_api.asp

EOG Resources Heads South of the Border

Discuss this RANT at the Podcast Table inside the Diner

Snippet:

…It’s Turkey Day, and I just finished consuming my Steak & Gumbo dinner, which substituted for the traditional Turkey this year. You can read more about that in my last article, A Homeless Thanksiving.

While the individual problems of each person immersed in collapsing industrial civilization are really the most important ones as time progresses here,the grand problems of the Economy and how it downspins remains important to try and understand.

Going back to my years on Peak Oil, pundits there predicted prices of $200 and more for oil as the supply diminished. This was not a scenario I ever bought into, it makes no sense. To be able to SELL Oil at $200/Barrel, you need somebody who can afford to BUY it at $200/barrel. With credit being constrained and fewer people all the time able to BUY at this price, in my view and the view of a VERY few other people in the Peak Oil community including Nicole Foss from The Automatic Earth and my good friend Steve Ludlum from Economic Undertow, really the price of Oil had nowhere to go but DOWN as time progressed…

For the rest, LISTEN TO THE RANT!!!

 

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s