Article

2020-04-20 Economy

U.S. crude falls below $15 a barrel, down more than 20%

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Posted by Fred 2020-04-20 00:00|| || Front Page|| [11131 views ] Top

#1 It was $ 3.75 per barrel in 1965. Drillers were still making money. Of course the 1965 dollar would have been worth substantially more than today's 2020 dollar.

Price wars in the 60's were driving a gallon of regular gasoline into the .24 cents per gallon range, and lower.

Posted by Besoeker 2020-04-20 02:33|| 2020-04-20 02:33|| Front Page Top

#2 IMO, the same principle as with Chinese imports applies here.

Posted by g(r)omgoru 2020-04-20 02:43|| 2020-04-20 02:43|| Front Page Top

#3 Do we all get a brown leather bomber jacket when they pass the next stimulus bill with a mission accomplished patch?

Posted by Kojo de Medici4793 2020-04-20 06:27|| 2020-04-20 06:27|| Front Page Top

#4 #1 and the dime, quarter, fifty cent piece and (coin) dollar were all made of silver back in them days.

When you print money without backing, the economist call the raise in prices 'inflation'. The old term used was debasing the currency, which is reflected in our hard coin currency as now it is composed of base metals. Inflation sounds magical, debasing sounds corrupt (and it ultimately is).

Commodities general stay relative to each other outside of major finds or technological applications that substantially increase its availability.

Posted by Procopius2k 2020-04-20 06:41|| 2020-04-20 06:41|| Front Page Top

#5 /\ On June 5, 1933 FDR takes United States off gold standard.

Posted by Besoeker 2020-04-20 06:47|| 2020-04-20 06:47|| Front Page Top

#6 As a student in Peoria Ill in '68 there was a gas war among the local stations. Filled my tank for .19 a gallon.

those were the days......

Posted by AlanC 2020-04-20 07:35|| 2020-04-20 07:35|| Front Page Top

#7 For your consideration.

Posted by Procopius2k 2020-04-20 08:46|| 2020-04-20 08:46|| Front Page Top

#8 Are frackers and other oil field workers allowed to work? Or are they nonessential, since you don't need to drive anywhere anymore?

Posted by Bobby 2020-04-20 11:49|| 2020-04-20 11:49|| Front Page Top

#9 What we really need is a Manhattan style cold fusion project.

Posted by Woodrow 2020-04-20 12:29|| 2020-04-20 12:29|| Front Page Top

#10 Old closed today (as of 4:59PM ET) at (minus) -$13.1000 for a change of -$31.3700. Hit as low as -$40/barrel.

Posted by Gromolet Craiting5425 2020-04-20 17:33|| 2020-04-20 17:33|| Front Page Top

#11 Old closed = Oil closed

Posted by Gromolet Craiting5425 2020-04-20 17:33|| 2020-04-20 17:33|| Front Page Top

#12 Might be a good time to buy some more stock :)

Posted by bbrewer126 2020-04-20 20:13|| 2020-04-20 20:13|| Front Page Top

#13 Buy signal indeed
Lock n' load

Posted by Lex 2020-04-20 22:06|| 2020-04-20 22:06|| Front Page Top

#14 Of course the 1965 dollar would have been worth substantially more than today's 2020 dollar.

I recollect a Mercedes was about $5000. Gas 25 cents and a pack of Luckies the same.

Posted by KBK 2020-04-20 23:19|| 2020-04-20 23:19|| Front Page Top

#15 $OXY if it drops below $10 => buy
Uncle Carl agrees

Posted by Lex 2020-04-20 23:38|| 2020-04-20 23:38|| Front Page Top

#16 Amazing that barely two months ago $OXY was above $42.

Posted by Clem 2020-04-20 23:44|| 2020-04-20 23:44|| Front Page Top

#17 Will be again

Posted by Uncle Carl I. 2020-04-20 23:56|| 2020-04-20 23:56|| Front Page Top

23:56 Uncle Carl I.
23:44 Clem
23:43 Clem
23:38 Lex
23:37 trailing wife
23:36 Frank G
23:34 Frank G
23:32 Steve White
23:24 KBK
23:19 KBK
23:16 Lex
22:52 Whiskey Mike
22:48 Lex
22:40 Lex
22:27 KBK
22:13 Silentbrick
22:06 Lex
22:05 Lex
21:47 Procopius2k
21:28 Whiskey Mike
21:09 KBK
20:42 bbrewer126
20:35 bbrewer126
20:33 bbrewer126