Own some oil wells do you?
You certainly sound like a Money grubber as opposed to what’s best for the entire economy. It has been proven over nd over again that low oil prices spur the economy.
Here’s a thought: opec jacking up prices too much trump will support the anti opec antitrust bill in Congress.
Agree completely. Man is economically naive, and that is being incredibly generous. Higher energy prices effect an increase in every step of the process of adding value to every product and service.
Rooting for higher oil prices is like praying for gasoline to rain down on a forest fire.
Canadian Shale, per BBL, at cost is $12. WTI could fall to $19/BBL and they’d still be fine.
I wish I did. I live in a community that is 90% dependent on the domestic oil and gas industry. It pays for schools, roads, hospitals, and provides a stable livelihood for hundreds of thousands of families. The oil and gas exploration and production industry, unlike many others, creates huge multiples of economic opportunity. Everything from the steel, rubber, fuel, and other materials used to build, maintain and operate drilling rigs to pipeline crews and materials and trucking jobs to transport oil and gas, to the thousands of refining jobs to shipping facilities for exporting US crude oil, to the hotels, restaurants and retail businesses that are supported by the wages of oil and gas employees, not to mention the employees of hundreds of subsidiary industries that directly or indirectly involved in the process.
I have witnessed first hand when prices were manipulated, as they were in the 1980’s and the industry crashed, and I don’t really care to live through it again. The vast majority of folks who live outside of producing areas have no clue how much economic growth is supported when the industry is active. The crash of oil and gas prices in the ‘80’s was the first domino in what became a real estate crash, thousands of foreclosures and finally S&L and bank failures. Do the letters RTC ring a bell? That is where this is headed if prices stay where they are or go lower.