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And lower prices take the broader market with them.
Consider all the 401k's w/ XOM, VLO, BP, etc.
Did you not see energy's drag on the S&P today?
Many will get extra change in their pockets now but less cash for retirement if this sustains.
'Muricans.... rockin' math since.... never.
There is going to be some bad unemployment in Texas (Eagle Ford Play) and North Dakota (Bakken Play) and who needs that Keystone XL pipeline when they shut down the Tar Sands extraction in Alberta! The first rule in the oil business is you don't pump oil if it costs you more to extract than the market will bear. Once the price of crude fell below 80 dollars a barrel anyone fracking or working Canadian tar sands started losing money.
You guys have been telling us for ages high prices were because of speculators..
Yeah, you guys were stupid then.. Just like you guys ran around making excuses why high gas prices were good, or Obama couldnt do anything to lower then..
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