The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

Enter your email to subscribe to The Economic Collapse Blog:

Delivered by FeedBurner

Guess What Happened The Last Time The Price Of Oil Crashed Like This?…

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Price Of Oil Causes A Junk Bond Crash - Public DomainThere has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months.  The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months.  Well, now it is happening again, but this time the stakes are even higher.  When the price of oil falls dramatically, that is a sign that economic activity is slowing down.  It can also have a tremendously destabilizing affect on financial markets.  As you will read about below, energy companies now account for approximately 20 percent of the junk bond market.  And a junk bond implosion is usually a signal that a major stock market crash is on the way.  So if you are looking for a “canary in the coal mine”, keep your eye on the performance of energy junk bonds.  If they begin to collapse, that is a sign that all hell is about to break loose on Wall Street.

It would be difficult to overstate the importance of the shale oil boom to the U.S. economy.  Thanks to this boom, the United States has become the largest oil producer on the entire planet.

Yes, the U.S. now actually produces more oil than either Saudi Arabia or Russia.  This “revolution” has resulted in the creation of  millions of jobs since the last recession, and it has been one of the key factors that has kept the percentage of Americans that are employed fairly stable.

Unfortunately, the shale oil boom is coming to an abrupt end.  As a recent Vox article discussed, OPEC has essentially declared a price war on U.S. shale oil producers…

For all intents and purposes, OPEC is now engaged in a “price war” with the United States. What that means is that it’s very cheap to pump oil out of places like Saudi Arabia and Kuwait. But it’s more expensive to extract oil from shale formations in places like Texas and North Dakota. So as the price of oil keeps falling, some US producers may become unprofitable and go out of business. The result? Oil prices will stabilize and OPEC maintains its market share.

If the price of oil stays at this level or continues falling, we will see a significant number of U.S. shale oil companies go out of business and large numbers of jobs will be lost.  The Saudis know how to play hardball, and they are absolutely ruthless.  In fact, we have seen this kind of scenario happen before

Robert McNally, a White House adviser to former President George W. Bush and president of the Rapidan Group energy consultancy, told Reuters that Saudi Arabia “will accept a price decline necessary to sweat whatever supply cuts are needed to balance the market out of the US shale oil sector.” Even legendary oil man T. Boone Pickens believes Saudi Arabia is in a stand-off with US drillers and frackers to “see how the shale boys are going to stand up to a cheaper price.” This has happened once before. By the mid-1980’s, as oil output from Alaska’s North Slope and the North Sea came on line (combined production of around 5-6 million barrels a day), OPEC set off a price war to compete for market share. As a result, the price of oil sank from around $40 to just under $10 a barrel by 1986.

But the energy sector has been one of the only bright spots for the U.S. economy in recent years.  If this sector starts collapsing, it is going to have a dramatic negative impact on our economic outlook.  For example, just consider the following numbers from a recent Business Insider article

Specifically, if prices get too low, then energy companies won’t be able to cover the cost of production in the US. This spending by energy companies, also known as capital expenditures, is responsible for a lot of jobs.

“The Energy sector accounts for roughly one-third of S&P 500 capex and nearly 25% of combined capex and R&D spending,” Goldman Sachs’ Amanda Sneider writes.

Even more troubling is what this could mean for the financial markets.

As I mentioned above, energy companies now account for close to 20 percent of the entire junk bond market.  As those companies start to fail and those bonds start to go bad, that is going to hit our major banks really hard

Everyone could suffer if the collapse triggers a wave of defaults through the high-yield debt market, and in turn, hits stocks. The first to fall: the banks that were last hit by the housing crisis.

Why could that happen?

Well, energy companies make up anywhere from 15 to 20 percent of all U.S. junk debt, according to various sources.

It would be hard to overstate the seriousness of what the markets could potentially be facing.

One analyst summed it up to CNBC this way

This is the one thing I’ve seen over and over again,” said Larry McDonald, head of U.S strategy at Newedge USA’s macro group. “When high yield underperforms equity, a major credit event occurs. It’s the canary in the coal mine.

The last time junk bonds collapsed, a major stock market crash followed fairly rapidly.

And those that were hardest hit were the big Wall Street banks

During the last high-yield collapse, which centered around debt tied to the housing sector, Citigroup lost 63 percent of its value in the following 60 days, Kensho shows. Bank of America was cut in half.

I understand that some of this information is too technical for a lot of people, but the bottom line is this…

Watch junk bonds.  When they start crashing it is a sign that a major stock market collapse is right at the door.

At this point, even the mainstream media is warning about this.  Just consider the following excerpt from a recent CNN article

That swing away from junk bonds often happens shortly before stock market downturns.

“High yield does provide useful sell signals to equity investors,” Barclays analysts concluded in a recent report.

Barclays combed through the past dozen years of data. The warning signal they found is a 30% or greater increase in the spread between Treasuries and junk bonds before a dip.

If you have been waiting for the next major financial collapse, what you have just read in this article indicates that it is now closer than it has ever been.

Over the coming weeks, keep your eye on the price of oil, keep your eye on the junk bond market and keep your eye on the big banks.

Trouble is brewing, and nobody is quite sure exactly what comes next.

  • K

    I agree, obvious move by OPEC, to kill American shale oil production. More unemployed, more pressure on the economy in general. It amazes me how many hits this economy can take, and still the majority think, nothing will happen.

    • MichaelfromTheEconomicCollapse

      Great points as usual K.


      • Mike Smithy

        Another great article. Did you happen to hear the latest report from the National Retail Federation (NRF) pursuant to Black Friday sales? The report indicates that sales are down 11% compared to the same four day period from last year. I believe the main underlying reason for slumping oil demand is the global economic recession. Secondary reasons to justify the falling price is to punish Putin as well as punish shale oil production in the USA.

        • MichaelfromTheEconomicCollapse

          I had not heard about that report yet. Anyone have a link for that?


          • Mike Smithy

            Retail Disaster: Holiday Sales Crater by 11%, Online Spend Declines: NRF Blames Shopping Fiasco On “Stronger …

          • K

            Zerohedge has an article.

        • John Barry Stufflet

          Do you really think for one second that someone thought to themselves the global economic recession is really bad I guess I won’t go Christmas shopping?

          • alcoholabuse

            Yes John. I think that a lot of people who have low paid jobs who are expecting more austerity dealt out to them next year even though the UK government could just order banks to create the money that clears 150 year old sovereign debt but not as more debt are Not going to spend any time soon. The entire economic system needs to be re-thought by those considerably less self seeking than those currently at the helm. Why they are so hell bent on destroying the economy by insisting that all debt must be paid off with the interest owed to the detriment of infrastructure and jobs I cannot answer.

    • Of course, our political “leaders” won’t do anything, for petrodollar reasons of course.

      • John Barry Stufflet

        Thank God our leaders can’t do anything, everything they touch is a catastrophe.

    • w

      China and Russia stocked up on gold check
      Set up alternative to World Bank check
      Set up trading for yuan check
      Set up trading for Chinese bonds check
      Move away from the dollar over 20% being traded in yuan globally last year check
      Elite shut the dollar off…
      Take a short position before the crash….
      America will be the new factory workers, oil workers, food producers, and trinket makers for the globe. Cheap labor, no more OSHA

      We are screwed, and it has been happening in front of out face for over a 100 years.

      Find Jesus, its all over, when this moment that you all know has been coming finally arrives. It will never go back. Utter poverty, food will be scarce and we will be overrun…

      • Carlos Carmona

        yup, release of contract. Isn’t that awesome?!

    • none

      GOOD NEWS K:
      I think Michael really missed the mark on this one(I hope he doesn’t read this)!
      The Saudis are probably just punishing Obama for stabbing them in the back. Going to the Iranians for support in defeating???? ISIS.

      • Dotcoman

        Obama stabs everyone in the back. It’s what homosexuals do.

        The Obamapocalyse is coming.

    • Matt thomas

      Shale takes 1 unit of energy to produce 2. Let’s use the cheap easy to get oil first. As soon as the gulf runs out of oil we will never hear about the middle east again . and why is everyone so doom and gloom? I can’t wait! No taxes, no paperwork, no government , no need to do anything but garden and chop wood and smoke weed. Of course I grew up in Idaho so I know how to farm and shoot . prepping isn’t about a warehouse of food and a bunker. A true prepper has the knowledge to survive with just a knife and the clothes on their back. If you have never gone without running water , power and TV for any any amount of time you are going to have a bad day. Its just stuff people. All you need is shelter warmth a reliable water source . food and love . the rest is just shinny beads. I think it will be fun. Without modern medicine 10-20 % (I’m guessing) will die the first year . and that’s just more food for me lol. By then everything will be back to normal . maybe 1700s normal but who cares. My horse will just have to learn to pull a plow and if she won’t then I’ve got meat. But it won’t happen we are just hoping and dreaming . if our fiat currency that has no value collapses it only hurts people with a lot of it. Land goods food resources will all still be in demand so someone will provide it. We may be a Chinese owned land , I wonder if they will make us speak Chinese or git out of their country.

      • silverdoget

        With 320 million americans trying to live off the land, I think you will exhaust all the wild game in a season or two. As for gardening, it just takes one season of severe drought to destroy a hand to mouth food production plan.

        • Matt thomas

          No matter how bad a disaster there will be a government at my door demanding taxes in a year! But no I don’t think the earth will be void of life in a year just because the dollar fails. Do you think hords of people are going to walk a thousand miles to give a try at hunting ? What will they eat on the way and if there is food along the way it will feed the first few thousand . this economic collapse stuff if kiddie play. I prep for real emergencies like earthquakes . the dollar could fail 8 times before it affects my life.

          • silverdoget

            The mountain west may be ok gamewise, but remember the fat cats own large ranches in the west, they will be looking for slaves to maintain their lifestyles.

          • Matt thomas

            You are right Glenn becks apocolypse ranch is a few ridges over. minutes by car hours by horse and a week if I walk from me. No matter how bad things get there will always be republicans trying to enslave me but he put his compound on low ground so all his food is mine if I need it.

          • JayC777

            ROTFLMFAO. How are republicans, other than RINOs, trying to enslave you?

          • Matt thomas

            Yeah the republicans oh they go by another name democrats if that word for the american oligarchy is less offensive to you. They are synonymous.

          • Matt thomas

            But specificly on the republican side they want to take away my rights to govern my own moral life specifically they want to destroy my freedom from religion.

          • Walt Lonsdale

            What does religious freedom have to do with this discussion…. Boy, they’re everywhere

          • Dotcoman

            And yet you talk about taking from everyone else? Typical Liberal, your personal need outweighs everyone Else’s and of course for you; “the end justifies the means” is the end all and be all of your moral life.

            It’s freedom of Religion, not “freedom from,” another Constitutional point you are wrong on.

          • Matt thomas

            That’s what I thought

          • John Barry Stufflet

            They also want you to work for uberlow wages that you cannot possibly survive on.

          • Dave U

            They might want to spend their useless dollars on personal protection.

          • Dotcoman

            That assumes that we have real Americans in the govt, unlike the illegal alien Usurper and wannabe Imam calling himself Obama and President Jarrett who are hell bent on destroying the Constitutional Republic of United States and burning it all to the ground.

        • Dotcoman

          Well out of 320 Million, 20% is just about what the UN via it’s Agenda 21; is telling the US is their “fair share” to murder and kill off (70 mil.) just in order to make a dent into having a “sustainable” world population. Of course we’ll be asked to sacrifice even more of our population in coming years to pony up for global climate change/ bio/ socialist-justice blah, blah, blah.

      • John

        I wasn’t going to respond to your blather, but your ignorance is so great it is offensive. Republicans are a small part of the problem with government and the most least likely to cause harm to your personal ideology.
        Living in Idaho is not going to guarantee your survival. Smoking weed is most certainly going to guarantee you won’t survive.
        More than 90% of the U.S. population will be dead within 6 months of a total grid collapse.
        Dream worlds are just that. Life after a collapse will be nothing but hard work nonstop if you want to survive. It will be no picnic of debauchery and pot smoking.
        Read “One second after” by Fortschen or any of Joe Nobody’s books or Matt Bracken’s books. They will give you a more realistic look at what life will be like in several collapse scenarios.

        • Matt thomas

          You are thinking nuclear war. Human lived quite fine before power . and if 60% are magically dead that leave 60% empty houses and all the resources are for the taking. You may need power and running water but I don’t so yes hard work may kill you but I’ve bagged rock 12 he’s a day . it will be aweful for you, you may be hiding in a hole. But I will be jigging in the sun . but you are right if there is a real emergency like nukes or Udell wstone super volcano or a plague things could get bad but I have discipline. I currently spend less than 1000 a month and all but rent power phone utilities etc etc will all be gone. And if 60% of people die there will be plenty of human meat laying around to go with my beans and rice. I know disgusting but that’s why I know I’ll be fine. As for Idaho I live within 200 feet from a small river, half a mile from millions of acres of forest. There are enough grain silos and potato cellars within walking distance to eat . but again that’s if its a real emergency not just paper money going away. So yes disaster or war can be bad for you . but no one ever died from lack of government and paper money. Monkeys can live without money, and I am a monkey,

          • Jake Holman

            Self-made monkeys like yourself, actually save God a lot of embarassment.

          • Matt thomas

            You must be religous ,almosy smart enoigh to comnent but not quite, ask your relugous leader what you meant to say and get back with me. Or just go back to coloring your place mat.

        • Josh

          Why did you even try to respond? You can’t respond to ignorant burnouts like that. While his sitting there burned up waiting for his utopia to begin there will be thousands on thousands of hungry people searching for food and equipment. When the cities are over run and turned into jungles they are going to go into the county. They will find him soon enough. Not to mention other countries that are going to walk in to the US to take what they can. There doesn’t need to be a nuclear war, the threat is the people themselves.

      • BoundlessExistence

        You are nuts!

        • Matt thomas


          • JasonJ

            If you can retain this type of confidence and humor in an actual emergency, you will be fine.

      • Dotcoman

        I’m thinking closer to 50%, and that is before the banksters organize a new govt to foist on us, and call for their Globalist buddies at the UN and the Eurotrash troops show up to enforce the will of the Banksters upon us.

  • Mike H

    I am a novice at best regarding these things. If i want to watch the junk bond market where do I look?

    I watch the treasury bond rate (10 year) at their website; where are junk bond averages recorded?


    • MichaelfromTheEconomicCollapse

      That is a great question. It is not as easy as looking at the ticker for the S&P 500. But here is one index to keep an eye on…


      • Mike H


        • Rusty Brown in Canada

          And thanks from here in Canada, too. I was just about to post the very same question.

  • Mike

    Just gives me more reasons to buy more .308 and silver.

    • woodguy11

      why wouldn’t you buy gold?

      • kfilly

        Silver more than likely has more upside, and it is easier to get lower denominations for trade.

      • Mike

        As of right now silver is 14.76 as compared to 1,151 for gold. I do have other bills to pay so gold is a little far out there for me and the wife.

        • alan

          Yep, I go after silver myself.

    • Mike Smithy

      Yes. Now that the Swiss referendum on gold repatriation failed today, it will be interesting to see the bankster “beat down” on PM’s tomorrow morning. If you have the ability, now is a good time to back up the truck and stack some gold and silver. Cheers.

    • Paul F

      Zephaniah 1:18

      Neither their silver nor their gold will be able to save them. On the day of ADONAI’S
      fury, the whole land will be destroyed in the fire of his jealousy. For
      he will make an end, a horrible end, of all those living in the land.”

      • Mike

        Sorry don’t believe in quotes from scifi books, but thanks.

        • Mike

          The guy that wrote the article that you just read believes in quotes above that you refer to as sci-fi.

          • Mike

            That’s on him, still has nothing to do with me. See how that works?

      • jaxon64

        yes…what Titus did to Israel and Jerusalem in 70AD was horrific. Zephaniah’s prophecy was very accurate, as was Jesus’s when he stated that “not one stone of this temple will remain.”

  • retired22

    I may sound contrarian but I wouldn’t feel bad if it started to unravel in the next few months.I am not trying to be a pain,I am just tired of this Death Watch waiting for the system to collapse.A system that is so rotten it cannot & should not be saved.Let’s get it done,clean up the debris & begin to rebuild.Waiting a year or two won’t bring us any improvement,economic miracles are not going to drop out of the sky to save our economy,in fact it will probably get worse!Our economic & financial base,our infrastructure is so debased that it is beyond repair.
    As long as this system,financial & political,lingers along the vultures on top of the pyramid will continue to screw the American taxpaying public.If it goes on for another two years
    that would mean that these vultures would have two more years to rob us blind!At the end of that time we will merely have two more years of abuse from the financial sector & the politicians!
    If it went down tomorrow the poor & the Middle class would somehow get by,there will be pain,but we will make it! The over leveraged,overextended hustlers & speculators on the top will get cleaned out & given the huge financial haircut that they deserve!

    • Guest

      I think many here feel the same way. Personally, I don’t want the economy to collapse, but I believe it’s inevitable. But nobody knows how bad things will get. How much food should one have? Enough for 1 month, 6 months, a year? Will we have electricity? Running water? Will the gas stations have gas? I don’t think anybody knows the answers to these types of questions.

      • Paul F

        YAHWEH’S HOLY WORD foretells the events to come. I beg all to read the scriptures. Only then will we have true guidance and understanding.

        • Guest

          Thank you. I’m a Christian. I think the only way to understand what’s happening in the world is to understand the Bible.

          • Dotcoman

            Read it, and prepare your soul but you also need to prepare body and mind and be ready to do the work to protect yourself, your family, your property, your church, your community.

            Jesus Christ himself said that no man including himself knows the hour and we will not find clues written into the bible either.

            Our job is to survive and carry on as best we can till God takes us.
            The final end is not for us Christians to worry about, no use trying to make up God’s mind for Him or to force his hand. When it comes it comes. Till then it is our job to bust @ss and work hard, survive and carry on and promote the faith and civilization for our descendants.

        • Dotcoman

          True, but just because it looks bad, that does not mean that this is the final “End Times” and that the rapture is mere hours away.

          No man, nor Jesus Christ himself, knows the mind of the Father or when He will make the final call.

          We can’t presume to comprehend the mind of God or know his schedule. Thus even in horrifically bad times we must persevere and soldier on.

          Govts and economies collapse all the time, wars happen, nations are invaded and people die by the millions from time to time. All looks bleak, but that does not mean that it’s a sign from God that the final end is just around the corner.

          Read your bible, but go back and re-read Genesis and understand that we were born in sin and have been condemned to work hard all the days of our lives and that things will be tough, but we are not to give up and just sit down and wait for the end.

      • Bruce

        obviously a collapse would mean significant unemployment. Electricity well surely be cut off for millions of people. It has been said that a 17% reduction in electricity subcribers would cause the system to fail. Therefore, I think the lights would go out in short order.

        • gordythreehorses

          so, i am off grid my power comes from solar and wind. i hunt and fish and grow my own food. i have no need for the white man’s money or greed.

          • MeMadMax


            Then how are you using the internet???


          • EgbertThrockmorton1

            …white men INVENTED the internet…gordy, time for a reality check.

          • Dotcoman

            Racist much?
            What will you do when the federal money stops flowing onto the Rez?

      • alan

        It will either happen over the next 10 years very slowly, my guess.

        Or quick, like someone gets invaded and it goes bad.

        • MeMadMax

          They won’t invade us because they don’t need to…

      • Dotcoman

        If the economy collapses the grid can and could go down, merely due to the fact that workers won’t be paid, and the natural resources to power those plants will stop arriving at the plant from the mine or oil field.

        Even a temporary grid down situation will create one h3ll of a mess.

        I’d say 2 yrs of long term food storage for your entire family .

        No you will not have electricity unless you have the means to make your own.

        No the gas stations will not have gas, because the grid will be down, that means the oil fields, pipe lines, and refineries will shut down, if for nothing else the collapse of the govt and the economy due to the collapse of the central banking system and their fiat currency based on nothing.

    • Mark Caldwell

      Rebuild? That’s a fantasy for sure.

    • gordythreehorses

      you have no idea how bad it will get, for if you did, you wouldn’t be wishing for it to happen. just another socialist moron with no clue.

      • retired

        What the heck does my opinion have to do with Socialism,you are the one who is speaking out of his rear end!

        As for being a moron,I think that your problem is that you are more OFF then ON!

      • As a socialist, I will state that you’re another capitalist believer who believes that private ownership of most productive capital by Wall Street will yet be our salvation. It is not. Excess concentration of power, whether in state, private, or criminal hands, is a disaster.

        We need to move to a more democratic economy in which workers directly run the enterprises in which they work, which in turn are kept vigorous through free and open market competition. You on the other hand seem to think that we can continue well by reverting to the ways which got us here in the first place, which is a ridiculous proposition.

        • Mike Smithy

          Hitler was a socialist as well. If I recall, it didn’t work out so well for the German people.

          • I suggested specific policies, none of which amount to genocidal mania. There are many different strains of socialism; Hitler and Stalin are hardly the only ones.

        • Dusty Wildfire

          Who ever stopped your kind from starting your own collectivist companies and splitting the monthly bottom line among yourselves according to some kind of share calculation or perhaps just percentages?

          • Such companies can and do exist, but they are not the largest part of the economy. Besides, what is so anathema to you about working people owning the products of their labor?

  • FortuneSeek3rz

    As Chris Martenson said, the growth economy is a derivative of cheap energy. And now that energy is getting cheaper the economy stands a better chance of growing. I don’t think any of the shale players are unaware that when you increase the supply of something, the price is likely to drop. I don’t think this is catching anyone in the industry by surprise.

  • Tom Truther

    Ya i agree. The financial elite are desperate and in way too deep. It is just a matter if they will take us to WW3 or find some crazy new way to postpone things. but it seems they are running out of options. Thanks for the article

    • Joel

      Tom, I tend to agree on the WW3 thing. As I said in the previous article of Michael, war is the most logical thing to do – I did not say the best thing of course, but the most humanly logical thing to do when you are push against the wall with no other solution in sight.

      It is Von Clausewitz who said that (paraphrasing here) “War is simply Politic with other means” – War is just another way of doing politics on the world stage. Which is why I do absolutely come to the conclusion that a war on the gigantic scale is in the making… you just need one moron to launch it…

      It can come in 10, 20 or 30 years, but it will come it is unavoidable considering the cycle of rise and fall of Nations and Empire.

  • Jeb

    But… but… Tesla!

    But… but… all that money in Green Energy!

    But… but… all those ducks killed by wind-turbines!

    But… but… Al Whore and the Poolar Bares!

    We blogged!

    We bled!

    And we blogged some more!

    • There’s no purely technological solution to the climate crisis that will allow us to live beyond our means as we have now. We need to pare back our energy consumption dramatically before there is hope for technology to save us.

      • Jeb

        Therefore, we should let bureaucrats dicate the solution, eh?

        That bastion of human creation known as the red tape of government?

        The shale oil movement seemed to rise to the challenge… raise the price, people find different ways… didn’t even need the government bureaucrats to do it!

        • The changes required to live within our environmental means are more than Obama’s green energy program. Indeed, they require desuburbanization, more resilient local food supplies, increased access to public transit, and a stable financial and economic system in which debt is not required to grow, in which growth is not required to pay off debts.

          • Jeb

            All very interesting, politically correct solutions.

            Btw, I would like to see North America over-run by rail transportation.

            But government ain’t gonna take us there. Private Industry will – when Oil gets to $200/bbl, train-transportation will suddenly become viable.

            As the markets should show, no human being – not you, not I, not the government’s army of educated bureaucrats, can compare to the spirit of competition unfettered by government interference.

          • “As the markets should show, no human being – not you, not I, not the
            government’s army of educated bureaucrats, can compare to the spirit of
            competition unfettered by government interference.”

            No private entity has the capital to build a national passenger rail system in the timeframe needed to avoid climate catastrophe. The cost of such a system would run into the trillions. Corporations, which are beholden to shareholders, would not be able to accumulate enough cash to do such a thing before having to pay it out.

          • Jeb

            Well, I guess that depends on whether you believe Climate Catastrophe is imminent or whether it is a creation of Al Whore.

            The Copenhagen debacle? Remember it? All caught as liars? Al Whore admitting he exagerated to cause an alarming climate which would cause the people to move when they didn’t need to?

            I don’t believe in Climate Change being mostly caused by humans – it is patently absurd, if you look behing Global Warming “science” and actually take into account the “other” sciences which are much more established.

            Sorry dude. One wrong doesn’t make another right based upon it.

          • I’ve looked at the data and have come to the conclusion that the current era of global warming is largely the work of humans. Climate is changing faster than it ever has in the past million years, even during transitions between ice ages and interglacial periods. Past temperature trends, as established through proxies verified in controlled experiments, show no rise in temperature in the recent past as rapid as that we are experiencing now.

            Besides the warming itself, it is undeniable that the automobile-based lifestyle is harmful to the environment. Automobiles are built of steel, the iron of which is produced through a smelting process that produces patently toxic waste. They create exhaust whose products are highly cancerous and cause respiratory difficulties in the elderly. The roads on which they run and the suburban development they enable occupy vast areas of the most fertile farm and wild lands, reducing biodiversity. Furthermore, the carbon dioxide they emit causes acidification of the ocean, reducing diversity of marine life and damaging valuable fisheries.

            There’s more to the environmental picture than global warming itself.

          • Jeb

            Well, I think I’d just like to wish you a Happy Holidays and call it that – before we make this thread really, really, tiny and thin with our butt-stubborness… so,

            Happy Holidays, Really20!

          • To you as well.

          • Priszilla

            Every power plant and every home and every car are producing heat.

          • alan

            Al Gore invented the Internet.

          • linnyt

            and climate change too.

          • Mike Smithy

            Ahh yes, a pivot to a “Soylent Green” food supply.

          • No, I didn’t say that. With the condensation of oversized suburban homes (which have doubled in size, expense, and environmental destruction since the 1950s even as family size has declined) more land near populated areas would be opened up to agriculture. Does not sound like Solyent Green to me.

      • Mike Smithy

        How many times do I have to say this, “There is no climate crisis”. It’s a scam to justify a global tax on producers. When are you going to stop repeating the lie concocted by the NWO shills?

        • As I’ve outlined below, there doesn’t even have to be a climate crisis (even though there is) for our oil-fueled, automobile-run lifestyle to be dangerous.

          Furthermore, the radiative forcing induced by carbon dioxide and other human produced gases is a direct consequence of the laws of physics. Those are hardly “lies concocted by NWO shills”.

          Besides, my proposal would contribute to the much-needed end of the petrodollar and US Empire anyway. In other words, it would lead to a collapse of this NWO. So why not support it on those grounds?

          • Mike Smithy

            Carbon dioxide is a good thing. It causes plant life to flourish which means more food for humans. More plant life means more oxygen for humans. Think of it as the circle of life. Even if the planet was heating up, which it’s not, various places around the world would benefit by having a longer growing season for crops, which means more food for humans. Win/Win.

          • Carbon dioxide is not the only thing added by human industrial processes. We produce toxic waste from iron production, coat over perfectly good wildland in suburban development, and deforest the Amazon in our insatiable drive to get more grazing land for red meat. Furthermore, carbon dioxide itself, even in supposedly “negligible” concentrations which “do not affect the climate appreciably”, causes ocean acidification, which may lead to fisheries collapse.

          • korhal

            Uhh… you apparently don’t study history, biology or anything science-related. Too much carbon dioxide in the atmosphere = higher global temps = cascade failure of ecosystems on a global scale. This is scientifically proven. But I guess you’re only believing in whatever fits your narrative.

          • Mike

            By volume, dry air contains 78.09% nitrogen, 20.95% oxygen,[1] 0.93% argon, 0.039% carbon dioxide, and small amounts of other gases.
            The volume of CO2 in our atmosphere is negligible. What climate crisis are you experiencing? Remember, we do have 4 seasons.

          • alan

            They talk about climate change when they need to talk about stop making babies, but they won’t do that.

          • Denver Catboy

            That CO2 amount used to be 0.028% to 0.018%, and is rapidly on its way to passing 0.040% at a run. But yeah, we don’t have to worry about it. 😉

          • desert

            This is all bullshyt…carbon dioxide is what plants NEED to survive!

        • TK


        • kajsa52

          You can deny climate science all you want, but you sure can’t deny more oil and gas drilling will turn the U.S. (and the world) into one big sewer in your lifetime Where will you get clean water to live and grow food?

        • korhal

          You’ve lost all credibility by citing “NWO”.

      • Kay Briskey

        Not to worry, Really20. Revelation tells us God has everything covered. The world as we know it is set to end on the last day of seven years of tribulation ….. almost upon us. The only ones so concerned at this time on earth are those who have scoffed, shunned and fled from the Bible, and therefore, lack the knowledge necessary to understand today’s times and events.

        • GSOB

          “The world as we know it is set to end on the last day of seven years of tribulation” –

          Says who?


          What ‘ministry’ are you getting this strange prediction to announce?

        • CB

          You have got to be kidding me – From a 2000 year old book, translated numerous time – written at a time when people thought the earth flat. Good luck with that

    • Kay Briskey

      Thanks, Jeb, for your cryptic and clever words that gave me a hearty laugh.

  • Hot Rain

    This is how a market correction starts, good for consumers bad for investors. My BS detector is going off. This whole low gas deal always happens just before the holidaze.

  • No country like USA

    With these oil prices all shale producers will go bankrupt and more importantly it will slow Russia and BRICKs from replacing dollar as the world currency.
    Any way it is all orchestrated, but definitely I like my gas bill.

    • Jeb

      Not only that, think of how much money the banks must have lent out to these oil producers.

      Back in the ’08 crisis, I had a Canadian oil company, a mid-tier called Oilexco, pulled out from beneath my feet overnight when the Royal Bank of Scotland got into trouble – went from freakin’ $10.80 one day to $0.80 the next. Ouch! Touche, Messieur Market!

      I used to live and work in the Canadian oil-sands about a decade ago, and it was already booming when oil was at $20.00.

      Ft McMurray was like a never ending money pit. I made over a hundred grand a year there as a green-horn grunt – back then! My girlfriend worked as an office girl there for three years – first year $60k, 2nd yr $80k, and 3rd yr over $100k. The place has only gotten busier since – much busier.

      I don’t know how many billions, if not trillions, is invested in this less than perfect oil extraction boom – less than perfect I mean because of quality and technology.

      If they got knocked out of the market, how much does the government and the banks have invested in this stuff? What if half our producers go broke? What happens to the banks? Then what happens to the mortgage market?

      A lot of this stuff has been financed over the past five to ten years, with a rising oil price. I don’t think they really thought of what would happen – at least after a while – of what would happen if oil stopped rising. We were gonna have peak oil, remember?

      What if oil really, really dropped? How many billions of dollars of development would evaporate from our economy? Would there be a domino effect? A couple of banks fail… their mortgages goes up in smoke…

      Nah! The gubmint knows what it’s doing!

      • Kim

        What happens to the towns and cities all over the shale boom regions that have benefited on the local level from the tracking industry? Their economy crashes and you’re gonna see a lot of very sad and sick locals.

  • Clever Techie

    Where can I keep an eye on the junk bonds?

  • To avoid economic and environmental collapse, we need to realize that the “American Dream” has, in fact, been a nightmare in disguise, a means by which bankers have created a stranglehold on the majority of people through home loans, auto loans, and debt of other sorts. But before then we would have to stabilize our finances.

    First off, we need sovereign money issued by the Treasury, not by private banks. In the short run, this could be done through the creation of trillion-dollar platinum coins deposited at the Federal Reserve, which would in turn create banknotes in the amount specified by the Treasury. The money could be used to pay off the national debt.

    Additional trillion-dollar coins could be created and deposited in order to effect the forced sale, at fair market value, of all existing debt, equity, and financial assets of any kind to government. These assets would immediately be retired so that the financial system could start afresh. Private banks would, thereafter, be forbidden from creating currency of their own based on debt, and those engaging in such practices would receive the criminal penalties associated with counterfeit of currency.

    In order to stop inflation from an immediate capital injection into the banking system, banks would be required to deposit 80% of their cash reserves into 0% interest government bonds in perpetuity. This money would not be used to fund government expenditure. Thereafter, money could be originated by the Treasury and spent out in accordance with the decision of Congress, as constitutionally mandated.

    Furthermore, each state should be mandated to set up a bank of its own with exclusive power to issue home loans, auto loans, and other non-productive loans. These banks would be initially capitalized with new money created by the Treasury in measured amounts, and would create revenue for states as well as a means to fund capital-intensive building projects without resorting to Wall Street.

    Following this change, a reurbanization project should begin. The issuance of building permits for new suburbs should cease, and those in existing suburban areas should be given large incentives for moving out of suburban homes. In the place of sprawling car-dependent suburbs, new towns should be built that accommodate bicycles and buses and that are linked to central cities with affordable public transit. As a consequence, the cost of living would decline dramatically and people would be significantly better off.

    The central cities should in turn be linked to each other with high-speed rail, a valuable jobs creator that would smooth out the economic upheaval associated with moving from a high-energy, high-consumption society to a lower-consumption one. Additionally, a massive crash program to build renewable electrical capacity should be launched, to create jobs and further reduce reliance on imported fossil fuels.

    • Mark G

      Wow. you’re as smart as me. I couldn’t have written that better . Unfortunately, it won’t happen. Have to build small sustainable lifeboat communities. The shit is gonna hit the fan. Send ” Lawyers, guns and money”

  • Paul F

    Revelation Ch 18

    After these things, I saw another angel coming down from heaven. He had great authority, the earth was lit up by his splendor. 2 He cried out in a strong voice,

    “She has fallen! She has fallen!
    Bavel the Great![a]
    She has become a home for demons,
    a prison for every unclean spirit,
    a prison for every unclean, hated bird.

    3 “For all the nations have drunk of the wine
    of God’s fury caused by her whoring —
    yes, the kings of the earth went whoring with her,
    and from her unrestrained love of luxury
    the world’s businessmen have grown rich.”

    4 Then I heard another voice out of heaven say:

    “My people, come out of her!
    so that you will not share in her sins,
    so that you will not be infected by her plagues,
    5 for her sins are a sticky mass piled up to heaven,
    and God has remembered her crimes.

    6 “Render to her as she rendered to others!
    Pay her back double for what she has done!
    Use the cup in which she has brewed
    to brew her a double-sized drink!

    7 “Give her as much torment and sorrow
    as the glory and luxury she gave herself!
    For in her heart she says, ‘I sit a queen —
    I am not a widow, I will never see sorrow.’
    8 “Therefore, her plagues will come in a single day —
    death, sorrow and famine;
    and she will be burned with fire,
    because Adonai, God, her Judge, is mighty”

    9 The
    kings of the earth who went whoring with her and shared her luxury will
    sob and wail over her when they see the smoke as she burns. 10 Standing at a distance, for fear of her torment, they will say,

    “Oh no! The great city!
    Bavel, the mighty city!
    In a single hour
    your judgment has come!”

    11 The world’s businessmen weep and mourn over her, because no one is buying their merchandise any more — 12 stocks
    of gold and silver, gems and pearls, fine linen and purple, silk and
    scarlet, all rare woods, all ivory goods, all kinds of things made of
    scented wood, brass, iron and marble; 13 cinnamon,
    cardamom, incense, myrrh, frankincense, wine, oil, flour, grain,
    cattle, sheep, horses, chariots — and bodies — and people’s souls.

    14 The fruits you lusted for with all your heart have gone!
    All the luxury and flashiness have been destroyed, never to return!

    15 The sellers of these things, who got rich from her, will stand at a distance, for fear of her torment, weeping and mourning, 16 and saying,

    “Oh no! The great city used to wear fine linen, purple and scarlet!
    She glittered with gold, precious stones and pearls!
    17 Such great wealth —
    in a single hour, ruined!”

    All the ship masters, passengers, sailors and everyone making his living from the sea stood at a distance 18 and cried out when they saw the smoke as she burned, “What city was like the great city?” 19 And they threw dust on their heads as they wept and mourned, saying,

    “Oh no! The great city!
    The abundance of her wealth
    made all the ship owners rich!
    In a single hour she is ruined!”

    20 Rejoice over her, heaven!
    Rejoice, people of God,
    emissaries and prophets!
    For in judging her, God has vindicated you.

    21 Then a mighty angel picked up a boulder the size of a great millstone, and hurled it into the sea, saying,

    “With violence like this
    will the great city Bavel
    be hurled down,
    never to be found again!

    22 “The sound of harpists and musicians,
    flute-players and trumpeters
    will never again be heard in you.
    No worker of any trade
    will ever again be found in you,
    the sound of a mill
    will never again be heard in you,
    23 the light of a lamp
    will never again shine in you,
    the voice of bridegroom and bride
    will never again be heard in you.

    “For your businessmen were the most powerful on earth,
    all the nations were deceived by your magic spell.

    24 “In her was found the blood of prophets and of God’s people,
    indeed, of all who have ever been slaughtered on earth!”

    • GSOB

      AlReAdY came to pass….
      This has been fulfilled.

      • Paul F

        Not it hasn’t. But it will very soon.

        • GSOB

          The Church is the kingdom prophesied in the Old Testament era and is
          (we are) in the millennial age.

          It is composed of Jew and Gentile merged into one body in Christ, as the New Israel of God.

          Satan was bound by Christ in His earthly ministry and is progressively hindered as the gospel spreads.

          The Great Tribulation occurred in the first century at the destruction of the Jewish Temple and Jerusalem, because of
          Israel’s rejection of their Messiah, Jesus Christ.

          Christ will return after the millennium, the time we’re in now, to avenge Himself upon the ungrateful rebels and to resurrect and judge all men.

          He will then usher in the eternal order in full.

          • linnyt

            So do you believe in post-tribulation rapture? Or do you believe the rapture has already occurred?

  • gfmucci

    Question: Would it be a sound US economic policy for the US govt. to subsidize the shale oil industry by, for example, assuring that producers in the US don’t get less than $75 per barrel, or whatever level keeps them operating at levels that assure the US progresses toward energy independence from the Middle East? For example, if the world oil market was at $71 per barrel, and the break even point for the average US shale oil producer was $75 per barrel, the US would subsidize $4 per barrel.

    • In the short term it would work, but in the long run it would create a tremendous national debt. The Saudis and Gulf states can price-war us to oblivion, since the cost to extract their oil is only about $10 per barrel and they have massive sovereign-wealth funds, which produce so much income that for a time they may be able and willing to produce at a loss in order to maintain long-term global influence and ability to profit off of oil rents. The US, whose currency is kept afloat primarily by the fact that it is the medium of exchange for OPEC, is forced to oblige to avoid ruinous hyperinflation of

      The only long-term way to avoid this is to rework our financial system completely by forbidding private banks from creating money when they lend it out, pursuing a zero-inflation-rate policy, and drastically reducing consumption of imported fossil fuels. This could only be achieved by reducing suburbanization to 1920s levels through condensation of sprawling suburbs into denser towns linked to central cities by public transit.

  • danbax

    so what are some tickers in the junk bond market ?

  • Priszilla

    Well Michael, for the last few weeks about half an hour after my alarm clock goes off the sun rises. Every day.
    Find the causality.

    • Mike Smithy

      Zero dark thirty is way to early to get out of bed. You must have a defective alarm caused by the shoddy workmanship of low wage Chinese factory slaves.

  • JailBanksters

    There is one word feared more than Recession in governments. The word is De De Deflation, and if you prefix that word with Hyper…..

    • Mike Smithy

      Although one can make the case that the recession in nominal GDP terms has been on-going for over 6 years, many have speculated that a deflationary collapse will be followed by a hyper-inflationary collapse. in a last desperate move by the banksters to jump start a dead economy, I believe we are now in the deflationary collapse and it is unlikely that the economy will ever reach escape velocity because the debt load, much like gravity, is too much to overcome.

      • JailBanksters

        I believe Thomas Jefferson said it best:

        “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
        And I guess he was just short of saying, there is no way this can not happen given the present circumstances. The Quad Trillion question is when ?, and I’m sure there are several derivatives out there just waiting for this thing to go off.

  • Priszilla

    The future will bring falling income one way or the other. To prepare for that reduce costs. Learn and practice maintenance, repair, reuse, recycling. Japanify your home – small size, practical multifunctional gadgets. Heat your home but not your neighbourhood.

    • Priszilla

      The Chinese guide for longevity: always go 30% hungry and 30% freezing.

  • Priszilla

    You could increase the Saudi oil price by recalling the navy from Somalia.

  • DJohn1

    There is a German Company that has figured out how to make gasoline out of water.
    They are using Carbon Dioxide to do it.
    We are not that far away from using water as a fuel source. The biggest reason we are not doing it now is the oil companies.
    A hydrogen engine is not that far away right now.
    It would bust the hydrogen out of water and release the oxygen. H2O means 2 parts hydrogen to one part oxygen. It breaks down real simple with a DC battery.
    The engineering has always been a problem. It burns really hot. and the burning has to be slowed down so that an engine can use it.
    Imagine fueling your car from a kitchen faucet.
    But then the big money would fall down.
    The financial aspects of the oil industry are at least in part taxes. Every country parasite in the world depends on it.

    • Phil from Germany

      Never heard of that one

    • Lorungee

      And when you are able to fill your tank with kitchen tap water, that water will be priced at 4.00 per gallon.

    • Hot Rain

      Hope they don’t have nuke plants sitting on large bodies of water..

    • JustanOguy

      It takes an enormous amount of energy to convert water into hydrogen fuel so you are back to square 1.

      Highly doubt you’ll ever be able to fuel a car from a kitchen sink due to what is required to convert water into hydrogen fuel. In fact… it costs about $50 to fuel up a Hydrogen powered car to go only about 300 miles due to the amount of energy needed for the conversion.

    • Peter

      This is not new for Germany, Hitler made man made fuels during the war.(including the electrical splitting water one) It was a big component in his war machine, and powered many vehicles. Most of the tried technology’s proved too expensive, but oil derived from coal was the cheapest. Coal is still in great abundance even today. Alternative fuels were never a problem, cost is.

  • alan

    The first excuse was low demand caused the price drop, so if that’s the case it should have dropped a couple years ago.
    Oil shale is a fraud so its not really a threat to anyone other than people who invested in it.
    I suspect this is done to punish Russia.
    This all goes back to the Saudi pipe line through Syria deal. Which Russia was able to block two years ago. Which now has blossomed into Ukraine trouble for Russia and Isis to cut off Assad.
    There is some real dirty $hit going on and someone’s going to loose and eye or an oil field if the price doesn’t go back up soon.
    Most of the oil now requires a high price to make it worth while to get. Something has to give soon.

  • aliceinwonder

    Hemp = fuel & oil. None of this is even necessary.

  • VigilanteCaregiver

    We get the economy we deserve.

    Could’ve fixed this a long time ago but refused to. Could’ve had free market prosperity and christian charity, but no.

    Reap what you sow.

  • JPhantom2012 .

    a damn shame what the united states is about to witness, displacement doom and a lot of hungry people!

    • Mike Smithy

      We get the gubmint we deserve.

  • MeMadMax

    You know what I think?
    I think this is an agreement between big oil and OPEC.
    OPEC squishes the life out of the little oil companies that have sprung up all over north dakota…

    Then big oil swoops in and gobbles them all up…

    It’s already started…

  • R Waldie

    Completely wrong. Very low oil prices will be temporary event. The loss of production that you you talk about is the cure. When the price is too low, production goes down, the excess production disappears, curing the problem. While oil prices are low, it provides a huge boost to the economy. It’s the equivalent of a huge tax cut. The share of the US economy that benefits from low oil prices far exceeds the size of the energy sector, which will get whacked, but only temporarily.

  • Mike Smithy

    Great advice. However, I would add the following to your list: guns, ammo, lighter, compass, hunting knife and silver coins to barter with. Lastly, have a plan to get out of the city and try to make friends with like minded people that have acreage in the country.

    • danbax

      True. There is more to do but I tried to list some basics someone could get started with.

      I haven’t found a group of people to team up with yet. That will be a challenge finding people you can trust

      • growerjenn

        a map would probably be much more useful than an app

        • danbax

          That’s what it is…. topographic maps. The only difference is it’s not printed out on paper, but you can download areas to store offline on your phone. If you feel better with a physical map, then go online and print out a topographic map

          • growerjenn

            and if there is no grid, how are you powering your machine? Or using wireless internet/GPS?

          • danbax

            I have a solar battery bank to charge devices. You don’t need the internet to use the gps. Besides, I have a Bluetooth GPS receiver that is good while out hiking.

            If the gps satellites do go down, you can still reference the map.

            If the phone breaks, I know the area in general. I could print out a map but it would be an overview map… it wouldn’t be scaled in to my local spot if I was lost.
            Even if I were carrying some maps what if those got lost or damaged?

            I do have a military grade compass. If that got lost or stopped working for some reason, I can find my direction using the sun.

            I’m not reliant on technology, but if its there I will use it.

          • growerjenn

            I certainly don’t intend this as an argument, but I wonder – doesn’t the GPS system need power in the first place? Even if your receiver is battery powered, the GPS must be “broadcast” somehow, doesn’t it?

          • danbax

            I’m not 100% sure on the technology, but the gps receiver only takes in signals that the gps satellites are broadcasting.

            A television tower is always broadcasting signals but you wont be able to receive those signals without an antenna connected to your tv

  • Rufus T Firefly

    Only a fool could possibly think the decline of oil prices is a bad thing

  • JustanOguy

    Interesting…. Just got back from Texas and the economy there is booming. Long time residents have seen the boom and bust before.

    Big difference this time around though is that real estate is still much cheaper / more affordable than back in 2008.

  • lars olofson

    the price of oil has not crashed, its where it should be. Gas at the pump should be 1.30. Oil co.s have been sticking it to the American people for 20 years. Thanks OPEC. We have no business exporting fuel to anywhere. I hope this drives Harold Hamm MAD!!! I spent 30 years in the oil patch, this is long over due!!

  • 1johnconnor1

    what energy junk bonds should I follow?

  • Gayle

    I think you’ve got it backwards. The oil price hitting $140/bbl in 2008 sucked so much money out of the economy that it caused the recession.

    • Paul V

      Exact. The bbl peaked 147,27 US$ on July 11th 2008. The bbl was still about 120 US$ when Lehman Brothers collapsed two months later.
      The author got it all wrong or so. The OPEC is not waging a price war against the US. The steep decline of oil price lately is a Kerry/Saudi plot to wreck Russia’s economy which depend principally on oil and gas. Yes this is hurting US drillers and frackers.

      A nice shot in the foot. lol

  • Mark Johnson

    So what can I do to profit from this?

  • John Barry Stufflet

    This author makes a sweeping assumption that the reason that oil prices are down is because of decreased economic activity. Oil Prices are down because the Russian ruple has been devalued after our sanctions took effect. Also with increased fuel efficiency and fewer gas hogs on the road gas consumption has actually decreased this year while oil production has increased. Natural Gas consumption has gone up and replaced oil for power plant consumption. The price of oil was at an unreasonably high value for quite some time. I remember when economists were forecasting that when the price of oil hit $60 a barrel the economy would collapse. remember it was only $30 a barrel not that many years ago.

  • korhal

    LOL. Correlation does not equal causation. The author apparently doesn’t realize that it wasn’t the oil crash that caused financial collapse, but the collapse of the subprime mortgage market that caused the financial collapse.

  • Jakob Stagg

    I don’t recall anyone suggesting our government cares or would do anything to control the damage. “Never let a good crisis go to waste.”

  • stockman12

    Would Colorado or Oregon be a better place to own land and ride out the collapse?

  • Joseph Vitovitch

    TWISSTED PROPHECY! FRIST the STOCK Market CRASHED in OCT. 2008.Realestate market was FILLED with CORRUPTION…WALL ST CRASHED..BUSH was in office…FACTS!!!!!!!!!!!!! Then Commodies tanked over a year period..STOP IT.. Stop fueling CORRUPTION with your twissted news report!!

  • Ken

    The Gov’t will step in (planned crisis) and rescue those who pledge allegiance to their New World Order.

  • Jeff Barber

    It’s a very good thing to kill the shale oil industry. Fracking pollutes ground water to a huge degree. These oil companies to extract oil from shale inject all kinds of chemicals, many are not even disclosed. The oil they are extracting is very heavy and thinned by Benzene to pump through pipelines. Pipelines are bound to fail, it’s just a matter of time.

  • MJ Darling

    If you want to know who is running this oil war, meet Mr. Shadow (Government). Read or watch, “Silent Weapons for Quiet Wars
    Operations Research Technical Manual TM-SW7905.1”

  • Llort Bew

    How does the efficient market hypothesis account for people’s refusal to accept reality?

  • Silvia Aldredge

    “During the last high-yield collapse, which centered around debt tied to the housing sector, Citigroup lost 63 percent of its value in the following 60 days,”

    But now, Citibank has FDIC insurance for its derivative positions, which it is buying up in the trillions. Major shareholders of Citibank? The Saudis. So Saudi gets paid no matter what happens with oil. We’re letting Saudis use Citibank as a hedge against the price of oil.

  • B

    It was done to increase the effects of the sanctions against the soviet union for invading the Ukraine. Russia’s only successful commodities are oil, vodka and weapons but mainly oil. It’s uncouth to mess with booze and guns, that leaves oil.

  • susan cuticle

    14 months later and here we all are. This sure is a (very) slow motion train crash.

Finca Bayano

Panama Relocation Tours



Facebook Twitter More...