Dow Plummets 2,000 points, S&P 500 Sinks More Than 7% Amid Oil Price War

CNBC ^

[lasereye]

Generally low energy prices are good for the economy. The fear is that a bunch of oil companies will be unable to pay their debt. They borrow a ton of money to finance their oil wells.

[goldbux]

One of our favorite wines – 2013 Provenance Vineyards Winemaker's Reserve Blend – was available for $75 retail ($60 Club discount) while inventory was still available. This is a superb blend of five varietals, mostly Rutherford Cabernet Sauvignon (58%).

At $60 per 750ml bottle, that's $80 per liter. A 225-liter barrel would cost $18,000.

At $75 per 750ml bottle, that's $100 per liter. A 225-liter barrel would be worth $22,500.

A $22,500 barrel of wine is 750x more expensive than a $30 barrel of oil. Or would be, if the relative barrel volumes were the same.

Normalizing:

One gallon of $100–per-liter wine = $378.54

One gallon of $30-per-[42-gallon]-barrel oil = $0.7143

At these prices, one equal-volume unit of wine is 529.96x more expensive than oil.

[Impy]

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