Cry me a river....for cheap oil will knock out greenies

[JustRalph]

http://www.independent.co.uk/environment/new-era-of-cheap-oil-will-destroy-green-revolution-9922217.html

How anyone can be upset about this is beyond me. But with a super oil based infrastructure already in place........... this is beyond any stimulus plan that any government official could have come up with. This is huge for the consumer.

I don't care about solar, etc.

[FocusWiz]

Reminds me of when oil prices started to climb during the Bush administration. My lunchmates ("liberals" all) were blaming Bush because his policies allowed the price of oil to rise and he wasn't releasing any of the oil reserves in the Strategic Petroleum Reserve which we had to protect our economy in the case of a shortage (as he shouldn't have and as Obama also should not have just to affect prices).

I asked them if they knew the biggest impediment to alternative energy. They unanimously exclaimed "Bush!" I explained that the cost of alternative energy relative to petroleum based energy were what prevented our economy from investing in the alternatives and that the estimates were that these would naturally occur at the cost of between $5 and $10 per gallon of gasoline.

They could not comprehend that the rise in the price of gasoline was helping the environment. They just knew it was bad because Bush wasn't doing anything about it. I suggested that perhaps George Bush cares about the environment. They almost lost their lunch.

[davew]

greenies will never get knocked out

they will just need more grants, guaranteed loans, tax breaks from the libs to keep pushing their cause of saving the world from ourselves (while enriching themselves - just thinking of Gore)

[Robert Goren]

Oil won't stay cheap very long. It is cheap because economies of China, India and Europe are in the tank. Sooner or later they will recover and the Russians and the Arabs will be able gouge everybody again. Oil price do not depend only what happens in the United States. Anybody that thinks American oil companies will give their fellow Americans a break must live Colorado. The only long term to get us free of the Arabs is to drastically cut oil consumption in the United States. We can never produce enough oil to keep the price down when the world's economy is good shape. And the Arabs and Russia will always have us by the nuts as long as we depend on oil so much. We will see $100 oil again.

[JustRalph]

Yep, and Spain is going to be fine due to tourism......

[Tom]

5Cwbl6iZmCA

[horses4courses]

5Cwbl6iZmCA

You really need to get out more, Tom
The world is your oyster........

[Robert Goren]

Yep, and Spain is going to be fine due to tourism......Sort like Ireland will be fine because of it low corporate taxes........Europe with all it low corporate taxes rates has become home to the three man corporate home office. In the mean time the US with its higher corporate tax rates is doing just fine even with Obama at the helm, thank you. Even the mighty Germany:rolleyes: is having a hard time.

[Robert Goren]

The real question is how many of the North Dakota "drillers" are going to survive. How far in debt are they? And how long can they hold with cheap oil? How many industries can take a price cut of 45% of it product? Not many I guess.

[Spiderman]

OPEC will continue high output of oil even if price drops to $40 bbl. More insight into state of oil production and effects on economy can be found at:

http://www.bloomberg.com/news/2014-12-14/u-a-e-says-opec-won-t-change-output-even-if-price-drops-to-40.html