Some of you are so comical, I just want to let you know the whole truth and nothing but the truth. Every B.R.I.C.K nation who were touted in 2005 have created a bubble and now it must POP. Nations recoveries are measured by Caterpillar's earnings, US company growth and the FEDS assessment on raising rates. The FEDS cannot do a thing about raising rates until Europe, Asia, and US stands on their own feet. Stagnation for a couple more years until Europe starts recovering . China's housing bubble must POP, they just cannot hide it.
Oil Companies may make less money on Crude, but they are living high on the HOG with high gasoline prices per barrel of oil. Make no mistake, as long as gasoline rips California and every state , then Oil Companies will continue to pay the price with the fall of crude oil. There is no equation comparing a barrel of Crude vs a Gallon of gasoline comparably. China, Europe and even OPEC will faulter because these engines for economic growth have stalled miserably . Food , material, labor, energy and meat have stayed sky high and will continue to be so. No nations can recover anytime soon unless nations come back to reality pricing.