Prolonged low silver and gold prices caused Allied Nevada mining company to go through a similar scenario, they are on life support now and the only thing that will save share holders any value would be rising gold and silver prices and that doesn't look very likely.
"Petroleum Products Used
Petroleum products account for approximately 22 percent of the materials used in the average tire. This equates to between 5 and 10 gallons of petroleum products, usually crude oil, natural gas or other hydrocarbons."
There are 42 gallons in a barrel of oil. You got your stuff all messed up.
With respect, Everyone knows oil is just about all Venezuela has, and they will keep on producing it no matter what. Take a look at Iraq for that example, despite the war they have steadily increased oil production. What I'd like to know where is the gasoline discount we all should be seeing at the pump? Refineries are having a field day buying oil cheap and selling gasoline high.
I saw a Tesla charging up at one of four charging stations in front of a Casino in Winnemucca NV. As I see it electric cars need three things to happen, the vehicle needs to be cheaper, the range needs to be at least 300 miles, and the most important thing is charging time that will get you another 300 miles needs to be reduced to under ten minutes, If that happens cheap oil is here to stay.
I respect your opinion, but oil is used in thousands of applications that can't be economically replaced. And the problem with electric cars is price (presently being addressed by mass production of batteries and autos), range and the amount of time it takes to recharge them. The last two have seen drastic improvements, but they still have a fair amount of improvement before they will be able to displace the Internal Combustion Engine (ICE). Also something to consider is fuel cells they have just now become economically feasible. Grahphene could help both cases, batteries by improving the amount of energy stored and reducing the amount of time it takes to recharge. it would help fuel cells because in laboratory tests graphene can harvest hydrogen from the air. But again this stuff is years away, for now ICE rules. But don't take that to mean lithium isn't a good place to place a bet. If I wasn't afraid of a stock market collapse I would be buying WLCDF now, in fact I may take a small position anyway.
In a back handed way you just admited it was gw Bush financial crash, that is an improvement you should try to be more honest in the future it does wonders for your creditability.
I kind of agree with your possibilities. IF so where is the money from the stock market to go? Real Estate, commodities, other currencies?
"BP (London Stock Exchange: BP.-GB), one of the world's biggest oil companies, announced a second-quarter replacement cost loss of $6.3 billion Tuesday, and warned that low oil prices are here to stay."
The problem in a word, Austerity.
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China's stock market has been extremely volatile since mid-June.
And now that dip has prompted government intervention. Additional measures are likely if the whiplash-like moves continue.
Over the last month, the Chinese government has implemented at least 40 measures to prop up the market, including:
An interest rate cut by China's central bank
Establishing a stabilization fund to outright buy stocks
A ban on stockholders and executives from selling stakes in listed companies for six months
An order for companies to buy equities
An investigation by the nation's public security bureau into short selling
A halt of initial public offerings (IPOs)
Official speeches and commentaries to assure citizens that China's stock market will stabilize
China, some annalist are saying their economy looks just like the US did in 1929. Their stocks have been falling so fast the government has intervened to stop the slide.
Since you are a trader you will probably do OK, but long term I'd look at the state of the world's economy, and it isn't looking very good.
I don't know how many times I pointed out world growth was slow due to austerity, FYI that means oil use was growing slower than production. And the amount of oil Iraq, Saudi Arabia, Nigeria was adding to the market. Now instead of being a big boy and admitting he should have listened, it spins his tale to say it is POTUS's fault.
Proablay not even an investor, more than likely a R. paid to twist and outright lie to put P. Obama and the Democratic party in the worst light possible.
And one other thing for energ, you had plenty of warning and cautions from posters on this board, that advised investors to be nimble and be to be careful, but instead of a yellow caution light you saw a flashing blue sales light, so take it like a man and quit complaining about POTUS, he didn't click on the buy button you did.
If walker gets in you will have gw BuSh on steroids, and without the compassionate conservative, if there is such a thing..
No I can't get gw BuSh out of my brain, so forget that, it is unbelievable to me that a phony clown such as im could pull of what he did, and then get elected again. IMO the sad truth is that doesn't really reflect on him. What it really shows is how stupid Americans are. And hopefully by hammering this home the American people will wise up, but I won't put much store in that.
Low oil prices is a shot in the arm for the American consumer, in the end it will put more money into their pockets as commuting, goods and services costs come down. A lot of CAD and US oil companies will suffer for sure, but that is the way of the so called free markets. Since the so called free traders insist that should be how the world works, then you will have to take the bad along with the good.
Yeah, people either forgot or didn't know the magnitude of the gw BuSh world wide financial crisis, the effects of austerity which in effect is punishing the victims of the crisis, or the long term effects of so many people losing so much money. "Money is like blood, it has to be in circulation to do any body any good." Austerity and wage suppression removes money from consumers pockets, consumers are the economy.
No to the the US requiring buying of Iran oil. Market forces are at work.