$53 OIL..........who wins, who loses.

MGLICKER · November 4, 2014 12:47AM

Looks like the domestic production has caused the Cartel to blink, well at least the House of Saud.

Clearly oil at this price will put the pinch on the Bakken producers as well as the high cost frackers.

....assuming we stay at this level for a bit, who wins and who loses? Think internationally.

...and what happens to metals, equities and other commodities?

Glad to see this break as the non oil state residents will have a few added bucks for the holidays.

derryb · November 4, 2014 12:51AM

Buffet and his crude oil railway express have gotta be feelin the pinch.

OPA · November 4, 2014 12:55AM

Winners....Consumers, Airline & Truck Industries. Lower cost in Diesel for the Railroads should also help them. I suspect as in the past, the pendulum will swing back and "restore the status quo."

MGLICKER · November 4, 2014 1:38AM

Mexico, Canada, Iran, Russia and Venezuela are no doubt going to feel the pinch.

...this will help Japan, though they unabashedly beg for inflation.

rawteam1 · November 4, 2014 1:40AM

Sushi fo all... domo arigato...

BAJJERFAN · November 4, 2014 1:41AM

<< Winners....Consumers, Airline & Truck Industries. Lower cost in Diesel for the Railroads should also help them. I suspect as in the past, the pendulum will swing back and "restore the status quo." >>

I expect that will happen sooner rather than later.

BLUEJAYWAY · November 4, 2014 2:42AM

Winners-politicians up for re-election. Something to hang their hats on. Loser-air quality for cheaper prices means more use of the cars,less mass transit.

BAJJERFAN · November 4, 2014 3:00AM

<< Winners-politicians up for re-election. Something to hang their hats on. Loser-air quality for cheaper prices means more use of the cars,less mass transit. >>

And gashog sales are way up too.

johnny9434 · November 4, 2014 5:23AM

<< Buffet and his crude oil railway express have gotta be feelin the pinch. >>

i hope he feels it deep jmo

MGLICKER · November 4, 2014 5:52AM

<< 

<< Buffet and his crude oil railway express have gotta be feelin the pinch. >>

i hope he feels it deep jmo >>

His pal Barry will no doubt throw him a trillion if he needs it.

ricko · November 4, 2014 5:57AM

Just nice to see the lower prices at the pump..... could go even lower if the pipeline is activated... Cheers, RickO

morgansforever · November 4, 2014 7:43AM

Just filled my 330 gallon oil tank for $2.86 a gallon, more coin for coins

PRECIOUSMENTAL · November 4, 2014 10:50AM

USA production has been climbing, Saudi's and OPEC are increasing production to, in my opinion, bring price down to where our shale projects are no longer profitable.
I think $60.00 per barrel is cut off point for shale's profit margin.
I'm sure we will lose in the long run.
Is really going to hurt Russia.

piecesofme · November 4, 2014 11:26AM

Lower cost in Diesel for the Railroads should also help them.

Not so sure about that, at last not here. ULSD is still .75-.85 higher than gasoline in these parts. The only good thing about Railroads and Barges, they don't have to pay the taxes on the fuel as long as it dyed red for non-road usage. Trucks on the road and even automobiles that use it are still being squeezed.

roadrunner · November 4, 2014 11:52AM

Good deal for precious and base metal mining companies where the cost of energy is a major cost factor. Those guys come out of the gate strong when oil is beat to a pulp.

$2.86/gallon??? The heating oil dealers here in Connecticut are still around $3.50/gall and have been for over a month as oil prices have plunged. Talk about gouging.

MGLICKER · November 4, 2014 12:26PM

<< Good deal for precious and base metal mining companies where the cost of energy is a major cost factor. >>

Bingo!

morgansforever · November 4, 2014 6:47PM

<<$2.86/gallon??? The heating oil dealers here in Connecticut are still around $3.50/gall>>

Your paying to much RR, shop around unless you are locked in. Advanced

Buy 200 or more today, get it for $2.84 a gallon. Prices from 4 years ago.

piecesofme · November 4, 2014 8:52PM

The heating oil dealers here in Connecticut are still around $3.50/gall and have been for over a month as oil prices have plunged

Buy 200 or more today, get it for $2.84 a gallon

There are no "volume" deals here any more. Chicago is often highest in the Country which is unexplained to me because it is so cut throat. Being cut throat, you'd think it's be cheaper than most, not the most expensive.

johnny9434 · November 5, 2014 5:20AM

<< 

<< 

<< Buffet and his crude oil railway express have gotta be feelin the pinch. >>

i hope he feels it deep jmo >>

His pal Barry will no doubt throw him a trillion if he needs it. >>

id believe it

derryb · November 7, 2014 12:08AM

Recent lows in oil are an attempt to punish the currencies of those who would dare challenge use of the petrodollar, many of whom are oil exporters. Bear witness to the current heat the Russian ruble is experiencing. Question is "how long will the Saudis be a willing party in it?" The desperation of dollar enforcers is growing.

MGLICKER · November 27, 2014 7:15AM

WTI cracked below $70 today in electronic trading.

jmski52 · November 27, 2014 9:24AM

Sure makes "green energy" projects look worse by comparison.

VanHalen · November 27, 2014 10:30AM

<< WTI cracked below $70 today in electronic trading. >>

Sounds good to me. 87 octane is down to $2.69 in my area. $2.50 this winter would be great!

Happy Thanksgiving!

DrBuster · November 27, 2014 11:57AM

With a 4 banger jeep that gets worse mileage than my hemi, I love me some cheaper gas. Let it drop to $50.

MGLICKER · November 27, 2014 12:00PM

<< With a 4 banger jeep that gets worse mileage than my hemi, I love me some cheaper gas. Let it drop to $50. >>

I had a friend with a Jeep. That thing could guzzle. He switched to a VW diesel.

DrBuster · November 27, 2014 12:07PM

<< 

<< With a 4 banger jeep that gets worse mileage than my hemi, I love me some cheaper gas. Let it drop to $50. >>

I had a friend with a Jeep. That thing could guzzle. He switched to a VW diesel. >>

I got better mpg with my old v6 one, like ~40%. The hamster wheel just can't push something as aerodynamic as a refridgerator box with any kind of ease.

miklia · November 27, 2014 12:57PM

Thanks, Obama?

MGLICKER · November 27, 2014 1:02PM

<< Thanks, Obama? >>

roadrunner · November 27, 2014 1:53PM

<< <<$2.86/gallon??? The heating oil dealers here in Connecticut are still around $3.50/gall>>

Your paying to much RR, shop around unless you are locked in. Advanced

Buy 200 or more today, get it for $2.84 a gallon. Prices from 4 years ago. >>

Thanks, I'll give them a shout next time. Fwiw I tried a discount oil dealer 2 fill ups ago. They short changed me 25-30 gallons which completely negated any savings from the regular delivery guys. Found out after the fact that they had a complaint history on line.

Don't be so sure that dropping oil prices benefit consumers. It may do so in the short term. But, dropping oil (and commodity) prices are often a sign of a coming recession. What you save in fuel costs could easily be negated by all the negative things that tend to come with recessions. Cheap oil in fall of 2008 was also joined by stock portfolios dropping considerably. Jobs will get tougher to find and hold as oil plummets.

GrumpyEd · November 27, 2014 3:36PM

They always said that agriculture costs were up because of energy, maybe at some point the food prices might drop but I haven't seen any signs of it yet.

Oil is below 69 tonight!

VanHalen · November 27, 2014 3:42PM

<< They always said that agriculture costs were up because of energy, maybe at some point the food prices might drop but I haven't seen any signs of it yet.

Oil is below 69 tonight! >>

Most ag commodities are way down too, food prices should follow this winter. I live in John Deere country and their guidance for 2015 is in the toilet - Profit is forecast to be off 40% in 2015. Construction and forestry equipment are keeping them for falling even further. Deere's largest construction equipment plant sits 4 miles from my house and is going like gangbusters on dozers, backhoes, and skidsteers.

s4ny · November 28, 2014 12:19AM

Winners: Walmart, Target, dollar stores, McDonalds, Disney, airlines, truckers, hotels, cruise lines, Europe.

Losers: Exxon Mobil, oil companies, oil service companies, alternative energy companies (solar), coal, Caterpillar, railroads, Canada, Russia, Mexico, Saudis

MGLICKER · November 28, 2014 3:12AM

<< Winners: Walmart, Target, dollar stores, McDonalds, Disney, airlines, truckers, hotels, cruise lines, Europe.

Losers: Exxon Mobil, oil companies, oil service companies, alternative energy companies (solar), coal, Caterpillar, railroads, Canada, Russia, Mexico, Saudis >>

Pretty good list.

DeepCoin · November 28, 2014 3:19AM

From today's market reactions, you might add gold to the losers list... off $30 when I looked a minute ago...

derryb · November 28, 2014 3:48AM

Big banks have a major stake in oil production and oil storage.

MGLICKER · November 28, 2014 4:30AM

The monthly employment numbers may weaken as well.

jmski52 · November 28, 2014 6:19AM

This won't hurt the Saudis nearly as much as it will the shale guys here.

Overdate · November 28, 2014 8:32AM

<< Good deal for precious and base metal mining companies where the cost of energy is a major cost factor. >>

The price of their product is also a major factor, and right now precious metal prices are declining along with the price of oil.

dpoole · November 29, 2014 9:54AM

<< Winners: Walmart, Target, dollar stores, McDonalds, Disney, airlines, truckers, hotels, cruise lines, Europe.

Losers: Exxon Mobil, oil companies, oil service companies, alternative energy companies (solar), coal, Caterpillar, railroads, Canada, Russia, Mexico, Saudis, DPOOLE!! >>

Some frack wells just went into production on our farmland.

derryb · November 29, 2014 10:09AM

Losers: New pipeline workers.

rawteam1 · November 29, 2014 10:18AM

$70??? They better start preparing for under $50...

miklia · November 29, 2014 11:26AM

this is shaping up to be an absolutely gangbusters long play.

renman95 · November 29, 2014 11:59AM

<< this is shaping up to be an absolutely gangbusters long play. >>

The trick is when and where, but I agree and have been looking....

jmski52 · November 29, 2014 12:18PM

Losers: New pipeline workers.

If it's an approved capital project, the chances are that it will go forward. If the funds haven't been allocated, they will be taking a much harder look at the numbers now. Unless the Saudis are really running dry, they'll be in the best shape.

this is shaping up to be an absolutely gangbusters long play.

Agree. And this is the best time to be looking at what comes next, or at least what comes after the dust settles and the prices equilibrate.

MGLICKER · November 29, 2014 12:21PM

I suspect that we will see a huge bailout for the US oil industry. Stay tuned, the template has been set.

jmski52 · November 29, 2014 12:23PM

Doubtful. The administration wants to trash carbon-based industries. Dumb idea, but it's what they do.

OPA · November 29, 2014 12:28PM

<< I suspect that we will see a huge bailout for the US oil industry. Stay tuned, the template has been set.

>>

Very unlikely....we didn't see a bail out or even talk of a bail out when oil was even much lower in 2009

MGLICKER · November 29, 2014 12:39PM

<< 

<< I suspect that we will see a huge bailout for the US oil industry. Stay tuned, the template has been set.

>>

Very unlikely....we didn't see a bail out or even talk of a bail out when oil was even much lower in 2009 >>

Yes but this is the "jobs" and "stock market" president who is scrambling for any remnants of a legacy. There will certainly be substantial layoffs if oil does not rally back to $80 in short order. Perhaps the bailout will be a huge, clandestine move into WTI futures rather than the typical TARP or cash for clunkers type programs.

OPA · November 29, 2014 1:11PM

<< 

<< 

<< I suspect that we will see a huge bailout for the US oil industry. Stay tuned, the template has been set.

>>

Very unlikely....we didn't see a bail out or even talk of a bail out when oil was even much lower in 2009 >>

Yes but this is the "jobs" and "stock market" president who is scrambling for any remnants of a legacy. There will certainly be substantial layoffs if oil does not rally back to $80 in short order. Perhaps the bailout will be a huge, clandestine move into WTI futures rather than the typical TARP or cash for clunkers type programs. >>

Spoken like the true Conspiracy Advocate, that all of your posts indicate, that you are. Good night & pleasant dreams.

MGLICKER · November 29, 2014 1:44PM

<< Spoken like the true Conspiracy Advocate, that all of your posts indicate, that you are. Good night & pleasant dreams. >>

Sorry. I forgot that this is the most transparent presidency evah!

mariner67 · November 29, 2014 4:25PM

<< this is shaping up to be an absolutely gangbusters long play. >>

+1
Forget PMs, long oil the next big play
Timing critical

$53 OIL..........who wins, who loses.

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