Oil prices drop below 50.00 a barrel as U.S. production ramps up
https://www.bloomberg.com/news/arti...-49-as-u-s-rig-gain-counters-opec-output-cuts
https://www.bloomberg.com/news/arti...-49-as-u-s-rig-gain-counters-opec-output-cuts
Let's hope this keeps up
- Thread starter atlkvb
- Start date
Who cares?
Bet they don't pay a penny extra for any gasoline when it drops that low. They won't pay any more for cheaper electric bills either when coal is firing more power generating stations.
They'll complain about "climate change" but they'll sure as Hell be flying on cheap discounted Airline seats to their vacations in Cancun, and they'll be pocketing the savings on gasoline to power their Hybrid Prius automobiles.
Dolts
Excess capacity will depress ROI for a while, but as economic activity picks up and demand for more energy grows, prices will level off to meet demand and everyone will benefit from the lower energy prices which will power even more robust sustained growth which is what we really need to erase debt and increase wages which increases revenue to the treasury which helps us pay off the debt which helps the economy grow even stronger and deeper.
Hang in there, we have to crawl before we can run.
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