MonkeyDex, if oil continues to slide, for consumer confidence, for the world economy, it's as good as an interest rate cut.
(I have no mortgage, but my single biggest household expense, I think, is petrol. My fault, lol, I have 2 big V8 cars and a massive boat diesel engine to feed, far far from home, lol).
In the US "gasoline" peaked at $4 a US gallon, and now is half.... that should assist their disposable income greatly, maybe even restore their urge to drive and buy cars to drive.
Yep, cheap crude is no good for BHP's $8 billion oil revenue, which was averaged at around $90 per barrel from memory.
However, BHP produced around 130 million barrels in 2008 financial year, and with other fields coming on stream, greater production may offset price losses.
BHP Price at posting:
$26.15 Sentiment: None Disclosure: Held
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