Regarding oil prices, now THIS is the propaganda they're feeding us?

[Goinback2011]

Originally Posted by OICU812

Cheap oil prices means that OPEC will be back in control, because the shale oil folks will not make enough profit to provide their oil to the market.

It's quite the quandary for the green energy freaks like Obama. He wants to drive up oil prices to make alternative energy viable, but then that makes the US oil companies and US fracking companies wealthy.

So what? Eventually the price will rise and the drillers will come back.

[KathrynAragon]

Originally Posted by Ponderosa

It's early. There is no doubt that a bust is coming if prices remain depressed.

"In Houston, Texas, the first oil industry layoffs have been announced, with realtors there predicting a sharp decline, up to 12 percent, in home sales next year."

Read more: Top US Oil States Are Taking A Hit From Plunging Crude Prices - Business Insider

Been there, done that. My husband's worked in oil and gas for 35 plus years. Like I said, this too shall pass. This sort of cycle weeds out the weak and separates the men from the boys - but that's not necessarily a bad thing. It will rebound.

[petch751]

Originally Posted by KathrynAragon

Saudi Arabia is a one trick pony though. Their entire economy depends on oil. At least our economy is diverse.

I say stare 'em down.

I wonder (seriously). Since ISIS are selling oil on the black market is this hurting them?