the issues surrounding the US oil strike and gold., page-3

Hi All4One and all,

I agree with you I also thought it was Mr Obama’s telephone call to his mate (allies) in Saudi Arabia to lower the oil price to put added pressure on the heavily European sanctioned Russia.

However; Americans being what they are will need to blame someone for their oil industry problems and blaming the Arab’s or Russia is currently in vogue.

It may just be another set of unforeseen circumstances although it shouldn’t take a genius to work out that the drilling, pipe lines and other oil infrastructure in S. Arabia and Russia are already in place and paid for back when oil was over the $110.00 mark. The fact that fracking, tar sands and deep well drilling / hard to win US oil is currently running on oil industry junk bond money with bond pricing also done months back at $110.00 a barrel.

The link below shows how quickly the rigs shut down; good paying jobs are lost and just how it flows on to other industry such as home building etc.

http://money.cnn.com/2015/01/23/investing/oil-texas-housing-houston/

I guess it’s OK for politicians and World power leaders to make rash decisions without thinking through the consequences; trouble there is a lot of those Stetson guys have long memories they still talk about the Alamo down there.

Things like the Food Stamp numbers, Baltic dry rates, low oil and copper prices fly in the face of stories of green shoots more jobs and a growing economy even if people in here don’t think so.

I can see how those viewing the world through rose coloured glasses now with the added wool pulled over their eyes are struggling to understand and see what is going on around them.

Cheers and very best regards: Andy