Dayam!

[SAYIT]

The price if oil continued its slide on Monday but only lost about 1/2%. Nevertheless it hit another 5 month low and is set to sink significantly lower saving American households and businesses BILLIONS of dollars. Bummer, eh?

 

[TemplarKormac]

Nope. But Obama will get the credit, though presidents normally have no control over the price of gas... well, normally.

 

[Nutz]

Now when will food costs go down...they raised prices because of gas prices. What about air travel

 

[SAYIT]

Now when will food costs go down...they raised prices because of gas prices. What about air travel

Reasonable questions. Consumer prices generally lag something as sudden (and as volatile) as oil's precipitous drop but given fuel's impact on airline costs and the industry's highly competitive nature, air travel should show it pretty quickly. That is, of course, if the supply of jet fuel is outrunning the demand as gasoline is.

 

[Iceweasel]

Fracking is what's lowering the price but it's more expensive to do so at some point it will level off. If oil gets too cheap the fracking will slow down. Which is what libs want but oddly enough, the market decides and gives them what they want. Will they ever learn?

 

[SAYIT]

Fracking is what's lowering the price but it's more expensive to do so at some point it will level off. If oil gets too cheap the fracking will slow down. Which is what libs want but oddly enough, the market decides and gives them what they want. Will they ever learn?

I'm a firm believer in free market solutions but the pleasure I find in OPEC's misfortune has me thinking we should support (even subsidize)fracking to keep oil prices down and the economic pressure on Russia.

 

[Mr. H.]

Which is more important to Americans, cheap energy or an abundance of domestically produced energy?
You can't have both.

Keeping $2 at home is better than sending $1 overseas.

 

[Iceweasel]

I'm a firm believer in free market solutions but the pleasure I find in OPEC's misfortune has me thinking we should support (even subsidize)fracking to keep oil prices down and the economic pressure on Russia.

Yeah, I understand Russia is hurting big time. They can't be the bully of Europe if this keeps up.

 

[Roadrunner]

I'm a firm believer in free market solutions but the pleasure I find in OPEC's misfortune has me thinking we should support (even subsidize)fracking to keep oil prices down and the economic pressure on Russia.

Yeah, I understand Russia is hurting big time. They can't be the bully of Europe if this keeps up.

Sure they can.

They can do anything they want to.

Obama will never stand up to Putin.

Putin is digesting what he has taken so far.

Before Obama leaves office, Putin will make another move.

I doubt he will fuck with Jeb though.

 

[SAYIT]

Which is more important to Americans, cheap energy or an abundance of domestically produced energy?
You can't have both.

Keeping $2 at home is better than sending $1 overseas.

I agree. If the choice is between capping the shale wells to force higher prices and subsidizing the American shale producers, I vote for subsidies (either direct or tax credits) paid for by increasing the Fed excise tax. As you mention, either way it means higher prices but at least it will be America and Americans benefitting and not OPEC or Russia.

 

[SAYIT]

I'm a firm believer in free market solutions but the pleasure I find in OPEC's misfortune has me thinking we should support (even subsidize)fracking to keep oil prices down and the economic pressure on Russia.

Yeah, I understand Russia is hurting big time. They can't be the bully of Europe if this keeps up.

Sure they can.

They can do anything they want to.
Obama will never stand up to Putin.
Putin is digesting what he has taken so far.
Before Obama leaves office, Putin will make another move.
I doubt he will fuck with Jeb though.

The new oil paradigm will force Russia to choose between their economy and their military adventurism. Classic guns or butter. We will not challenge Russia militarily over Ukraine but the same economic pressure now in play is what brought down the Soviet Union.
Stay tuned for Putin's strategic exit from Ukraine.