How low will OIL Go ?

a reply to: Xtrozero

Yep, we've had fruits and veggies go up 15% (that's what the news tells us), but I've seen a few things double in price over the last couple of years.
Every single thing imported is costing extra. Gas in this part of Alberta is around 80 cents a litre, should be lower because of the oil prices, except it's still kind of high 'cause of the crappy dollar.

The news shows have been reminding people to spend it if you've got it, but spend it carefully. And not to take out loans we can't afford. Eat less, and cheaper.

Good for tourism, and "staycations". Other country's currencies goes a long way up here right now..

Saudia Arabia got the tap on the shoulder from John Kerry to flood the market to hurt the revenue of Gazprom and thereby, Russia. US shale and the energy sector are just corelaterral damage, though that down plays the hell that was unleashed.

Combine that with a global depression thatvis gettng worse, consumption of oil isn't what is used to be. There is a massie glut going on and with opec not slowing down productuon, that oil glut will last years.

But war between Iran and Saudia Arabia wil see the price sky rocket.