We are already scaling back oil production in the US and starting to shut rigs and drilling down which is costing folks jobs CAT has also slowed production and will be laying some folks off, anything tied to oil will suffer.. Low oil is good as long as it is caused by the right set of circumstances as of now it is not..
Lower fuel prices is an economic boost. You can't spend money elsewhere if everything is going to fuel to be burned in a vehicle. Sent from my iPhone using Tapatalk
Its hurting me. I took a pay cut of over 20% just to keep working. And that's assuming things bounce back in a "reasonable" amount of time. So Im sweating it big time. I know it helps a good bit of people paying less at the pumps but cant figure it will better the economy. Like said before it will just shift their spending's to other things or allow people to save a little instead of spend it. And the thousands of us working in the US oilfield are taking pay cuts or lay offs, so our spending is way down, and unemployment will have some new customers. Im far from am expert though, just my thoughts and situation.
Man how did we survive the 90's when it was this low? It's good for some an bad for others. I drive a ford focus, so filling up for 15 dollars has been pretty cool. It's bad for alternative fuel research, low prices and everyone forgets the tank will eventually run out.
From a Ag stand point... good. With grain prices dropping... cheaper fuel means cheaper fuel for running equipment, lower fertilizer cost and lower propane costs for drying. If oil production is cut down in this state... means freeing up trains for hauling grain instead of oil. The elevators are having a hard time shipping grain out so we can haul more grain from the farm to the elevator due to the trains hauling mostly oil. It will be similar for the ranchers. Their cost will also be down. My cost will be down from gas to home fuel for heating in the winter. I go through 190 gallons/ month in the winter. First fill was $3.04/gal = $577. The boss can get it for $1.87 for the farm now. My cost will go down to $355 for 190 gal. That is a $222 savings for me and I still have 4 months to go... so almost $900 saving. I am liking it !!!
How many jobs were lost due to higher gas prices? Vs how many lost due to low gas prices? Anybody know? Sent from my iPhone using Tapatalk
below $40 a barrel will be the tipping point and real bad news, this isn't the 70s,80s or the 90s folks.. it is great for our wallets short term but long term not so much......... I don't want to be right but think I will be..
not sure but a GOP senator is proposing that the fuel tax be raised first 3 cents a gal and then another 3 cents a little later...but he swears no higher then that..lol.. didn't they something similar about the income tax when they first put it in place..lol
Higher oil prices in recent history have tended to benefit other nations and their economies more than the US. Since the US, until the recent fracking boom, has been a big net importer of oil an increasingly larger portion of our GNP was going overseas and usually to countries that were not friendly to us. The muslim OPEC countries either support openly or covertly allow radicals to function in their societies. Venezeula is certainly not our friend. The only major oil producer that we could count on was Canada and we can't get a stupid pipeline approved because of politics. Lower oil prices are good in my book simply because it means less money that the crazy muslims will have to try to destroy us with. It also doesn't hurt that Russia will be financially injured as well. More dollars in Americans pockets should help our economy with disposable income and this lower oil pricing should serve to help hedge against any inflationary pressures because of rising prices due to higher energy costs.
Hooker tell Bobby to just cut taxes in his state and the jobs will come pouring in. Sent from my iPhone using Tapatalk
