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  • #31
    Originally posted by 101combatvet View Post
    Good luck with that, the best solution Obama has for you is to keep the tire pressure at the daily allowances.

    Alternative energy to oil is about 25 years away.
    you can always pray for another "cash for clunkers" program

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    • #32
      How about if we turn in a politician who isn't working properly? Do we get cash back on him?
      Quis Custodiet Ipsos Custodes? Who is watching the watchers?

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      • #33
        Mon Jan 18, 2016 7:38pm EST

        Oil shock is hurting U.S. economy: Kemp

        LONDON | BY JOHN KEMP

        Slumping oil and gas prices and a downturn in investment are proving to be major headwinds for the economies of the United States and other key important petroleum producers.

        Economists tend to think of oil and gas as simply an input into the production process for other goods and services, which is why they tend to think of falling fuel prices as a positive influence on economic activity.

        But the production and refining of oil and gas is also a major industry in its own right, so a downturn in drilling can have a big negative effect on growth in the short to medium term, until the positive effects on other industries and consumption dominate in the long run.

        [...]

        Economists tend to think of oil and gas as simply an input into the production process for other goods and services, which is why they tend to think of falling fuel prices as a positive influence on economic activity.

        But the production and refining of oil and gas is also a major industry in its own right, so a downturn in drilling can have a big negative effect on growth in the short to medium term, until the positive effects on other industries and consumption dominate in the long run.

        By turnover and investment, petroleum exploration, production, refining, transportation and marketing is one of the largest industries in the United States and around the world.

        In the United States, businesses engaged in oil and gas extraction and refining spent almost $200 billion on new equipment and structures in 2013, the most recent year for which data are available.

        Oil and gas extraction and refining accounted for more than 14 percent of all new capital expenditures in the United States in 2013, according to the U.S. Census Bureau.

        Oil and gas drilling and associated services on their own accounted for more than 13 percent of whole-economy capital expenditures ("Annual Capital Expenditures Survey" Table 4a).

        The oil and gas drilling boom drove an enormous amount of extra expenditure and provided a significant boost to the entire economy.

        Between 2003 and 2013, capital spending by oil and gas drillers quadrupled from $40 billion per year to almost $160 billion (tmsnrt.rs/1RZXXqS).

        Capital expenditures surged even further in the first half of 2014 as the boom reached its peak but since then have been cut sharply.

        Unsurprisingly, the collapse in investment spending has produced a measurable slowdown in the broader economy.

        The downturn is evident in everything from data on industrial production to freight movements by road and rail.

        [...]

        http://www.reuters.com/article/us-us...-idUSKCN0UX015

        Watts Up With That? | The world's most viewed site on global warming and climate change.

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        • #34
          Originally posted by Mountain Man View Post
          Coal in enormous quantities is already with us and always has been.
          Contemporary civilization is oil based. Coal is more expencive and produces more negative environmental effect

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          • #35
            Originally posted by FTCS View Post
            I see the price of oil dropping due to the world economy, including the US, slowing down. Fossil fuel drives the engine of the economy. If the economy is weak there is less need for fossil fuel. In addition falling oil prices will be reflected in your 401k as a loos.
            Today consumer's demand is driving economy. Signs of economy shrinking is decline in retail and transportation goods by railroads. Since 1980th economy was fueled by consumer credits. Crediting policy was changed by the time, debtors were allowed to acquire new credits not paying previous. Now this economy model came to an end. Households have too big debts while savings are much smaller than in 1950th-1970th.
            There are reports that many national banks started selling US treasuries from their reserves. Biggest seller is China, they need money to alleviate their problems in economy.

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            • #36
              Originally posted by Mountain Man View Post
              Current news on television is about the Dow meltdown and oil dropping below $30/barrel.

              It's about time the consumers got a break.


              http://www.foxnews.com/us/2016/01/15/dow-plummets-more-than-500-points-as-oil-prices-sink.html?intcmp=hpbt1



              There is opinion it is not meldown yet. Maybe in spring or summer.

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