$34 Oil

If TCM US$/h = world US$/bbl, there might be some personal gossip interest to this.

I wonder how the new "budget", that passed with a provision to allow export of US oil, will effect this.

I think the OPEC guys see the change in attitudes about fossil fuels and the expansion of solar and wind. if a cheap utility scale battery comes along they'll have their near monopoly evaporate. I expect them to keep the spigot open a while. I don't see the repeal of that law as a big deal. the refiners that export gas and other products will just increase profits with cheaper raw material price.

I'm sure my statements here will stir-up a hornet's nest. Do I care? Nope, nadda, not!

You can thank the effects of Hydraulic Fracking in large part for driving down the price of crude oil.

Screw OPEC!

no question for North American crude, but the Saudis are still the big dog

Nobody wants it any more. Get used to the idea.

" It is interesting to note that in January 2015 prices for gasoline on an inflation adjusted basis are actually lower than they were during the depression."

http://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-gasoline-prices/

http://energy.gov/eere/vehicles/fact-859-february-9-2015-excess-supply-most-recent-event-affect-crude-oil-prices

Maybe it is time to get out and drive the car and enjoy driving rather than being persuaded to save fuel and not drive the investment one put into the vehicle. The advantage is that air fares should tumble and we can now afford to travel cheaper. After all, it was Nixon who changed the monetary base from gold to the US$ to suit his needs at the time. Less dependency on fuel will reduce prices of petroleum based products and price will come into line and the cost of living for all people should reduce.

It does have a positive impact on the poorer folks, less plastic pollution, but the markets are all manipulated, as one knows, so the only real losers are the big companies, and they will still survive and profit. Maybe this is a reality check for the world and its inhabitants. Out of chaos comes order, out of order comes chaos. It may not be a bad thing to happen.

Hey TCM better clean off those work boots.....

http://www.wsj.com/articles/u-s-oil-rig-count-rises-by-17-1450464047