Are low oil prices helping or hurting you?

[Nraman]

Good for me and good for aviation, the industry I work for.
I have a problem when people call the current prices low. Yes, they are lower than previously but low?
Why is it low? What is normal about a product that is used around the world and all of it is controlled by a handful of companies and governments?
Is it normal when the producers and governments get together and make sure there is no free market talk but only how they can rip us off the most?
YMMV

 

[nofearfactor]

I saw the courts put a hold on the new regulations that were going to basically shut down production and drilling. Good news!

Definitely good news. It's been basically already totally shut down now for awhile. They've been pumping but not much of anything else. When we received the settlement in 2011 concerning the BIAs almost 100yr mismanagement of our affairs, I knew there would be backlash for paying us the $330 million HPP settlement, which we settled for a tenth of what was actually owed to us. Some of our elders would have been dead if we had held out longer, it was 10 years already same as with the Cobell lawsuit. That suit took over 10 years to settle with the lady who started it dying and many others before it finally was settled and people were finally paid. F ing govt.

(Tapatalk)- on the road.

 

[WhiteyMacD]

Big bad BIA... too bad without them your tribe wouldn't have got what they got.

 

[cw821]

I work oil and gas. Been lucky to keep my job. Main problem I see is that states have foolishly budgeted off of high oil taxes. Going to take a long time, if ever, for them to correct that. Until then, a lot of agencies and especially our already horrible roads will suffer.

 

[Hobbes]

I work oil and gas. Been lucky to keep my job. Main problem I see is that states have foolishly budgeted off of high oil taxes. Going to take a long time, if ever, for them to correct that. Until then, a lot of agencies and especially our already horrible roads will suffer.

Yep, the state of Oklahoma politic critters has been doing what some people have been critical of oil field workers for doing, basing their spending on the flow of money coming in when times are good and then when oil collapses can't pay the bills.

 

[reade]

Big bad BIA... too bad without them your tribe wouldn't have got what they got.

I look at it like this, as was first said many years ago, "white man speak with forked tongue" and in particular the white men referenced were from Washington DC. From that perspective I'd say not much has changed.

 

[yukonjack]

I'm a retiree on a fixed income. I appreciate the fall in gas prices. Still can't afford to buy hamburger meat or any other beef products though. So I say "bring on the savings!!"

 

[Nraman]

I think the price of oil should be where a free market takes it instead of the artificial monopolistic prices we pay now.
That would include our government allowing unrestricted oil production everywhere instead of working with big oil to keep prices artificially high.
(Wikileaks show that the official US government policy is to promote high oil prices just like the rest of the OPEC)

 

[dennishoddy]

I think the price of oil should be where a free market takes it instead of the artificial monopolistic prices we pay now.
That would include our government allowing unrestricted oil production everywhere instead of working with big oil to keep prices artificially high.
(Wikileaks show that the official US government policy is to promote high oil prices just like the rest of the OPEC)

They need the tax money.

 

[Nraman]

They need the tax money.

I doubt it, I think there is enough money for the special interests to buy enough politicians to do what Oil wants.
Imagine, the entire world trade in the hands of a few.
I wonder how much money is made with oil prices held artificially high, must be trillions.
Straight out of the pockets of the consumers.
Things make more sense if we consider that the job of a cartel or monopoly is to restrict the availability of a product to raise its price.