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Tag Archives: oil price collapse
Why oil under $30 per barrel is a major problem
Why oil under $30 per barrel is a major problem A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What is wrong with this story? A lot of things, as I see it: Oil producers can’t really produce oil for $30 […]
Oil Price Crash: How low will the oil price go?
Oil Price Crash: How low will the oil price go? I have been following the oil price crash since it began in late 2014, providing annual forecast scenarios and monthly vital statistics updates. There has recently been an acceleration in activity and news, and as the oil price has continued its fall to below $30, […]
Will Reckless Saudis Seek War with Iran?
Will Reckless Saudis Seek War with Iran? Exclusive: Under growing economic and political pressure, the new Saudi leadership is showing a dangerous impulse toward military interventions, raising prospects for a direct and destructive confrontation with its regional rival Iran, writes Daniel Lazare. Now that Saudi Arabia has severed diplomatic ties with Iran and reportedly bombed Iran’s embassy in […]
(Re-)Covering Oil and War
(Re-)Covering Oil and War The first thing that popped into our minds on Tuesday when WTI oil briefly broached $30 for its first $20 handle in many years, was that this should be triggering a Gawdawful amount of bets, $30 being such an obvious number. Which in turn would of necessity lead to a -brief- […]
Canadian Stocks in Bear Market, Loonie Swoons, Crude Crashes to $16, Consumer & Business Confidence Dives…
Canadian Stocks in Bear Market, Loonie Swoons, Crude Crashes to $16, Consumer & Business Confidence Dives… “Investment and hiring intentions lowest since 2009”: Bank of Canada Since Christmas Eve, the Toronto Stock Exchange index has dropped every single day, 10 trading days in a row, including so far today as I’m writing this, the longest […]
Loonie Lurches To 13 Year Lows As Crude Nears ‘2’ Handle
Loonie Lurches To 13 Year Lows As Crude Nears ‘2’ Handle Today’s renewed plunge in WTI Crude (on the verge of a ‘2’ handle any second) has extended the Canadian Dollar’s weakness (among many other oil producers). For the first time since early 2003, the Loonie is worth less than 70c… (anyone for skiing?) This can only […]
The Financial Crisis Of 2016 Rolls On – China, Oil, Copper And Junk Bonds All Continue To Crash
The Financial Crisis Of 2016 Rolls On – China, Oil, Copper And Junk Bonds All Continue To Crash Never before have we seen a year start like this. On Monday, Chinese stocks crashed once again. The Shanghai Composite Index plummeted another 5.29 percent, and this comes on the heels of two historic single day crashes last […]
Petro States Dipping Into Coffers As Oil Price Reality Kicks In
Petro States Dipping Into Coffers As Oil Price Reality Kicks In Fifty-two years after Johnny Cash’s “Ring of Fire” became the first country album to top the US pop album chart, and the crude complex is stuck in a vicious circle once more. We have nada-nothing-nil on the economic data front today, as is the […]
Chart Of The Day: Canadian Heavy Crude Falls To $19.81—–Down From $100 In 2011
Chart Of The Day: Canadian Heavy Crude Falls To $19.81—–Down From $100 In 2011
Petro Currencies Under Fire As Oil Keeps Sliding
Petro Currencies Under Fire As Oil Keeps Sliding Low oil prices put pressure on the budgets of major oil producing countries in 2015, but the next domino to fall could be their currencies. Petro-economies with flexible exchange rates have already seen double-digit declines in the value of their currencies over the past year, in percentage […]
Canadian dollar dips below 71 cents for 1st time since 2003
Canadian dollar dips below 71 cents for 1st time since 2003 Oil and threat of global conflicts weigh on risky loonie The Canadian dollar is dropping to levels not seen since the summer of 2003. (Pawel Dwulit/Bloomberg) The Canadian dollar lost more than half a cent this morning, pushed down by oil prices and widespread […]
Doom and Gloom for North American Oil Producers
Doom and Gloom for North American Oil Producers Oil Prices To the dismay of U.S. shale producers, oil prices continue their long slow slide into the abyss. Perhaps the current price of $35 per barrel – an 11 year low – is the final destination. More than likely, however, it’s a brief reprieve before the […]
Why the oil price slump hasn’t kickstarted the global economy
Why the oil price slump hasn’t kickstarted the global economy There has only been a modest boost to global growth despite the oil price plummeting to as low as $35 a barrel. But as prices fall so the risks to producers rise An oil pump at sunset in the desert oilfields of Sakhir, Bahrain. As […]
Why Big Oil Should Kill Itself
Why Big Oil Should Kill Itself LONDON – Now that oil prices have settled into a long-term range of $30-50 per barrel (as described here a year ago), energy users everywhere are enjoying an annual income boost worth more than $2 trillion. The net result will almost certainly accelerate global growth, because the beneficiaries of this enormous income […]
Lower Oil Prices Are Shaking the World
Lower Oil Prices Are Shaking the World The long-term effects will echo for a decade or more. Oil prices fell by over half from June 2014 to January 2015 (Brent: $110 to $50), then another one-third since (to $35). Natural gas and coal prices have also plunged, partially due to the same forces but also from […]
