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Crude Is Tumbling (Again)
While mainstream media desperately played up the fact that oil prices were 'off the lows' this morning as some kind of positive news, that narrative is now dashed to winds of under-demand and over-supply. With WTI Crude prices testing the multi-year cycle lows once again, crashing below $54, we wonder how long before the Yellen effect wears off...
Since FOMC, Oil -3.8%, Energy Stocks +8.6%
And this morning's 'exuberance' over higher oil prices have been eviscerated...
Stocks can't decide if this is great news or terrible...
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TPTB wants 40.
At best, they only think they do. Enjoy the cheap gas while it lasts.
Short Texan and North Dakota mortgages!
And hotels. Don't forget to short the motels.
Short ND strip joints. Those ladies need work also. Mr Yellen might be interested.
ND strippers? We like short shorts!
Lap dances are $10. If you want a girl with all her teeth, it's $20.
excellent, punish those that that oppose the petro dollar, and give the japanese what they were promised for taking their trillion plus savings and giving it to the us.
It's not about punishment, it's about control. There has always been those who consider themselves to be the elite who consider it their natural right to control everything and everybody. They've tried it all throughout history and it has never worked...but this time it's different.
Hmm...The Chosen People you mean?
Awesome, I get a raise and oil is going lower, so what's not to like?
/sarc
What's a raise?
It's when the minimun wage goes higher.
A raise is what you get in order for inflation to kill you more slowly.
FTSE...is positive with new lows for #Brent Copper Gold Silver Iron all at lows and the commodity heavy FTSE is up LOL
...who is holding the North Sea Oil Loan bag?
The pensions.
Yeah. pensions have been chasing imaginary returns for awhile now and when they collapse the riots will start...
Dontcha know pensions avarage 8% annual returns? LOL
Mmmmm bit of a gap developing. Might just be a few out there shorting it. Unless they know different.
Time to short OAS and WLL again
Looks like old CL is ready for a low volume ramp a thon
i know a few state gubbermints that will be bankrupt after just one year of this
Probably not important states, though, so it's ok. Seriously, though - US Energy Industry sacrificed as collateral damage in a global war, I never would have expected that.
Hey now, my state may not seem important, but we have more nukes stored here than any other state in the union. Bankruptcy and the instability it brings cannot be good when looked at in that light.
Yeah, we're going to have some serious problems, considering how dependent our state budget is on oil and gas revenues. Education accounts for something like 1/2 of the budget alone. Good times.
Education in NM...is that what it's called? I'd rather hire a graduate of Albuquerque Academy than a Ph.D. from UNM!
Science, engineering, medical and anthro are generally solid fields at UNM. Everything else, meh. Might as well be underwater basket weaving. And even though you may learn CS very well at UNM, getting a CS degree from there only means that you are a decent computer scientist. Nothing more, nothing less. You'll know fuckall about how the economy works. But you'll know LISP!
But, when paying for something in cash, I'll often tell the person at the register, "You had better count it. I was educated in NM."
Hey, at least I've used LISP in the real world. Meanwhile, learning Ada only taught me to hate compilers.
I don't actually know lisp. I do know that it is a mindfuck for most people. OTOH, I once met a CS degreed woman from an institution that was out of state (don't remember which institution though) who gave me the glazed donut blank stare when I mentioned recursion. How the fuck can you get a 4 year degree in CS and not know what the fuck recursion is?
that's the "MIS CS" degree in action there... no hard science to speak of...
Science and Engineering...surely you jest....
I say again...i'll hire the Albuquerque Academy grad first.
"Hey now, my state may not seem important, but we have more nukes stored here than any other state in the union. Bankruptcy and the instability cannot be good when looked at in that light. "
LOL.
Is that a threat?
LOL.
Nope. Just an observation. Bad financial shit leading to instability? How much is a nuke worth on the black market, and how would such nukes be used? What happens to nukes when gubment control breaks down? A few miles east of the Albuquerque Sunport (airport) is an entrance to the Kirtland Underground Munitions Storage Complex. If I know that, so do other people.
Now, who is going to guard all of that shit when shelves at supermarkets are empty?
The same guys guarding them now.
They'll shop at a military PX, if it's necessary.
Time to go back to home-schooling. Great, real, educations and a HUGE shrinkage (theoretically) of government. Good all around...
Hell, even locally controlled education would be good compared to what we have now. We've got the feds so far up our asses with requirements that it's not even funny, and the education that kids are getting these days sucks balls.
Not to worry..... The assets will be purchsed at pennies on the dollar by the "appropriate authorites" when the time comes. The balance of collateral damage will be "absorbed" by the unfunded/99% side of the great Ponzi. Bend over and start absorbing, Bitchez.
This is a complete youtube John B. Wells show about the traitors in Washington via an interview with Scott Bennett
https://www.youtube.com/watch?v=nG_BtGL9dOY
"It appears efforts to educate consumers about smart methods of saving oil, like car pooling, and electric options like the Tesla have finally gained traction. The low oil price is due to Americans finding better, more renewable options for their energy needs. We should all be thanking Al Gore and the left for bringing this issue to the forefront. We could have never arrived here without their trailblazing."
MSM
"Together with the UN and global government, we will continue to work to reduce the evil causes of man-made global warming while we encourage more sustainable/renewable lifestyles."
Gasoline demand has been dropping in the USA since 2005.
Neither the UN or the global government issued an edict on that.
"Together with the UN and global government, we will continue to work to reduce the evil causes of man-made global warming® (since rebranded Climate Change®, since rebranded CO2 Pollution®, since rebranded Climate Justice®, since rebranded Climate Disruption®) while we encourage more sustainable/renewable lifestyles."
There. Clarified...
White woman, shoots at random people, aims gun at cops after car chase, lives to tell about it
ClickBait!
If Obama would just blow up a few terminals and refineries, then DOW could hit 20k faster than he can say executive power
Oil futures swing lower as Libya fire rally sputtersPublished: Dec 29, 2014 12:26 p.m. ET
Expect the crooks in CONgress and the State to start talking about reducing gas taxes and taxing drivers by the mile.
Like this? http://www.dot.state.mn.us/mileagebaseduserfee/
Which would be fucking retarded. It would take an enormous and costly bureaucracy to calculate and collect such a tax. I'd be willing to bet that if you started measuring how much wear and tear a given vehicle puts on the roads themselves, you'd find a decent correlation between wear and tear and fuel mileage. Big heavy vehicles are going to, on average, burn more fuel than small light vehicles. If they did that, I'd put a new spedo gear in my T-Case that made my odometer read lower than it actually is. $35 bucks and 10 minutes is all it would take.
El Vaq,
This has been seriously considered in Cali. Believe me, with GPS tracking systems and computer systems today this can be done. It really isn't that hard. My husbands computer system easily stores all a major retailer's worldwide transactions for multiple years. They run correlation studies on massive amounts of data all the time. Data mining today is not that of yore. Of course, the government would invest in some cobbled crappy system from some company who paid through the nose for access and they'd pay 10X for it. Cars have " black boxes" now to recreate accidents, how hard would it be to add some new features?
Miffed
So... in other words... it's a win-win for the polticial class.
As would a lot of other people too, I'm thinking. Such a tax would be a nightmare for anyone to try and calculate and collect. And it wouldn't be the kind of tax that could be hidden...you'd have to bring your car in to have the odometer read. Everyone paying that tax would know it, immediately.
And people who live in areas without public transportation could argue it was unfair, as they have no choice but to drive more than people in cities, and tend to be poorer.
Odometers will become obsolete because there will be so many that have been disabled or tampered with that it will become impossible to get reliable figures.
Are they going to conduct in-depth investigations of all vehicles? What if the odometer is found to be non-functioning at the yearly check? Now you can't calculate the mileage, and the driver claims he has no idea WHY it isn't working, it was last year...oh well, I guess you're just going to have to accept the fact that he only drove 50 miles all year, since that's what the odometer says. Unless you can prove he did something to it...good luck with that. Any idea how much it would cost to start doing detailed forensic investigations on millions of passenger vehicles every year? THAT is what you'd need to do to prove the driver actually DID something to that odometer. And that's only a downpayment on what it will cost when he gets a lawyer and challenges you in court...
How much were you trying to collect from this guy again? About a hundred dollars or so? You blew through THAT and then some the first day your lawyers have to show up to defend your actions in court. It's all cost from that point on...the taxpayers will love you when they get that bill.
Putin just waits until the Saudi's start to burn through their cash.
So cash in us$ is the place to be in a deflationary wave. Oh yes and maybe a few stawks.
I like $1.99 gas. I see zero problem here. You will never see me whine about a price decline. Bring it fucking on.
I paid $1.91 yesterday. I never thought I would see that price again.
$2.69 at Jamaica Ave off Van Wyck in Queens NYC.
The price of paradise.
/s
Crude future shows no trades for 10' plus, then opens at 53.20 down 60c from previous trades at 53.80 - watch the collapse here for free:
http://www.investing.com/commodities/crude-oil-advanced-chart
I ask yet again--when will the central banks start driving up the price of oil by buying oil?
Who can stop them?
P S : Janette, For The Record we are going to buy puts on the Bio Tech index with the savings. Thank you so much.
Where will they keep it?
they will print money and buy oil storage
They can keep at Fort Knox, in the room where the gold used to be.
why the downvotes?
If you disagree, say why
Have no fear, the metals are here http://www.infomine.com/ChartsAndData/ChartBuilder.aspx?gf=110569.USD.lb|110567.USD.lb|110563.USD.lb|110537.USD.bbl&df=20131201&dt=20141229&dr=1y
a place to lose all that cash saved on gas?
Hold it together "market", just two moar days to lock in that banker bonus so they can trickle down on us.
Yeah, then make it rain nail guns for a few weeks.
Definitely Bullshittish
Crude future now $53.14 headed for a 52 handle if the falling knife catcher game is called on account of injuries:
http://www.investing.com/commodities/crude-oil-advanced-chart
Getting very close to Peak Putin Fukin
Crude $52.94: fill up those gas tanks before the price goes lower.
I doubt it will bounce before the end of the year. Too many people have bonus money riding on it.
Nothing is too low for dear leader( our marxist)... Party like it's 1997
Got hint as to where gas prices are heading this morning:
The bill for the office water delivery had a notice that stated that the Variable Gas Sucharge on the bill will be replaced with a fixed delivery surcharge.
Now call me crazy but they are a Water Delivery Company, what the fuck is a delivery surcharge?
It would seem that whatever can be done in the paper gold "market" can also be done in the paper oil "market". I am shocked, just shocked I tell you...
"technology will save us"...
just the same, buy some puts...
'Saudi's Intelligence (Sheikh Sultan [?] Bandar) Chief back to the Forefront'
and... "Which is the Truth?"
FWIW Dept.:
http://english.alarabia.net/en/News/middle-east/2014/03/25/Saudi-intelligence-chief-back-to-the-forefront.html
http://zadandunia.blogspot.com/2013/08/which-is-truth-prince-bandar-bin.html
NOW[?], if your asking oneself, what the fuck does this have to do with 'Crude Tumbling and tubbling some very much moar... please read between the abstracted arabic-mindset meme...,married to an adulteress USSA hegemony!?!
jmo
This must make it very difficult to be a Federal Trader... trying to make the daily ATH with oil dropping like a lead winged flying monkey.
new link: http://theiranproject.com/blog/2014/03/25/saudi-intelligence-chief-back-to-the-forefront/
USD to the MOON! Bitchez
Don't forget to factor in the over supply of labor too https://www.youtube.com/watch?v=7Pq-S557XQU
Robots don't need fuel to drive to work
Regular gas cost less in 2004. So, it's not all that exciting yet.
http://www.eia.gov/forecasts/steo/realprices/
Russia's fault
QE's fault
I have some problems believing that the world oil demand schedule is suddenly warped to the down side. This price crash looks like a combination of speculation gone sour and some small marginal supply effects. I cannot see a major cutback in energy use by the BRICS or West that could account for this drop. Who is cutting back on oil and sacrificing their output? Are we going to see more air travel due to lower fuel costs of some %40 below last year?
Oil should rise to $80 soon.
'YOU don't want a "Carbon Tax",... well you can't handle the TRUTH?' That's right! We're gonna shove the "Oil Export Ban" up your ass!
What's that[?], you say you'll piss-n-moan to your congressman. Well go ahead! They've always had a hard-on for the plebs... as they use a crude-approach pissing awe[?] over your involuntary anal-leakage from every-orifice in your carbon-based body[?], while ya feel-it sucking and pumping at your lubricated back pocket?
Whoa?!? Hope'y and Chang`y
http://en.wikipedia.org/wiki/Carbon_tax
http://www.forbes.com/sites/thebakersinstitute/2014/12/23/a-crude-approach-to-evaluating-the-us-oil-export-ban/
jmo
Looks like Ol Yeller is getting dragged down in sympathy with crude oil.... Sympathy by the Feds Devil
https://www.youtube.com/watch?v=AsWR0CTWazQ
OK but in the future where are you going to get the $1.71 from to buy the gas?
OIL still has a long way to go to find a bottom. It should find some temporary support shortly, however.
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
Can we stop using the petrodollar already?
where is L Williams when u need him.....?