[ExSoldier]

THIS is why we need to take the price for a barrel of oil to historic (1960's era) lows! I don't buy this rhetoric that it will signal a global economic recession. If the price drops that low (and stays there) several things will happen:

1. The US economy will go into orbit. Big cars and trucks will come back and Detroit will regain dominance in that market. More people will have more money to spend on vacations. The peripheral industries will come back, too.

2. That level of production costs will totally crush the OPEC cartel and also the Russians.

With cheaper energy and lower taxes and less regulation (January 2016), we can put to rights what this administration has done during it's evil regime.

[Ultra Sonic 007]

I wouldn't count on it.

[elhombrelibre]

I agree. Now, is the time for bold strokes to restore a normal market for oil unhindered by cartels and crackpot dictatorships like Putin’s.

[tcrlaf]

“The US economy will go into orbit.”

Until we begin to address, as a nation, why the manufacturing jobs left America in the first place, it won’t.

We are now an economy almost TOTALLY dependent on consumer and Government spending. Very soon, we are going to hear the financial pundits start uttering the dreaded term “DEFLATION”.