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Old 11-28-2014, 03:41 PM   #1
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Price BBL of Oil Dropping

This time last year the price for a barrel of West Texas Intermediate oil was $107. We have been enjoying the drop in gasoline prices the past four months and now they are sure to continue falling. Today OPEC refused to cut production so excess oil will continue to come to market. Today oil prices dropped about seven dollars to about $66 bbl. Expect gas prices & diesel at your pump to continue to fall and enjoy while it lasts. No one knows what the price will drop to and certainly not for how long we can enjoy the price discounts.

Downside is the layoffs will probably be steep within the oil producers and service companies. Feel very sorry for those folks who have bills like everyone to pay. Those folks are going into Christmas season with worry about a job next year. Lived that life for many years during 80's-90's until retirement.
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Old 11-28-2014, 04:01 PM   #2
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This time last year the price for a barrel of West Texas Intermediate oil was $107. We have been enjoying the drop in gasoline prices the past four months and now they are sure to continue falling. Today OPEC refused to cut production so excess oil will continue to come to market. Today oil prices dropped about seven dollars to about $66 bbl. Expect gas prices & diesel at your pump to continue to fall and enjoy while it lasts. No one knows what the price will drop to and certainly not for how long we can enjoy the price discounts.

Downside is the layoffs will probably be steep within the oil producers and service companies. Feel very sorry for those folks who have bills like everyone to pay. Those folks are going into Christmas season with worry about a job next year. Lived that life for many years during 80's-90's until retirement.
Really?!? You feel sorry for them? That's like feeling sorry for the tobacco farmers. Their sales might drop because of anti smoking awareness, but then, their crop kills tens of thousands of people every year. And as the oil industry is responsible for the Gulf War and the down turn in the western economy, I see no need to feel sorry for them either.
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Old 11-28-2014, 04:06 PM   #3
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Really?!? You feel sorry for them? That's like feeling sorry for the tobacco farmers. Their sales might drop because of anti smoking awareness, but then, their crop kills tens of thousands of people every year. And as the oil industry is responsible for the Gulf War and the down turn in the western economy, I see no need to feel sorry for them either.
Really???????????
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Old 11-28-2014, 05:13 PM   #4
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Old 11-28-2014, 05:20 PM   #5
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I cant believe what I just read by falcon,I better go back and read it again.
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Old 11-28-2014, 05:31 PM   #6
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This thread could get testy. What started out as a nice post went political in the very first reply. With so many folks still trying to recover from the Great Recession I wish good things for any worker who is just trying to feed his family.
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Old 11-28-2014, 05:32 PM   #7
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I cant believe what I just read by falcon,I better go back and read it again.
Reading it again won't change it.
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Old 11-28-2014, 05:33 PM   #8
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Yes the sharp plunge in oil prices will have a major trickle down affect not just for exploration and production companies but also service companies, suppliers, vehicle and equipment sales, vendors, hotels, restaurants and the list goes on. A fair oil price is deserved and needed by all of us. We sure don't seem to complain about $4 a gallon bottled water or soda pop. Many small start up energy related companies will be closing. Yes it's a vicious cycle but in a world economy OPEC still has the control. It seems that $85 A BBL oil/$3.25 a gallon for gasoline is a good balance for the US. We shall see.
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Old 11-28-2014, 05:33 PM   #9
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Discuss the topic and not each other.
Thanks.
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Old 11-28-2014, 05:54 PM   #10
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At $60.00 or $65.00 the producer can still make a little money,he just wont be able to drill and complete one at that price,so the drilling and service end would be the one it hurt.
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Old 11-28-2014, 06:05 PM   #11
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Gas has dropped to $2.57 here in Jefferson City Missouri and $2.49 up the road in Columbia Missouri, but Diesel went back up to $3.69.. From what I have read we are shipping so much overseas to places like India, and China The price of diesel probably isn't going to move much here.
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