i can see the logic to part of this. oil is going to drag the rest of the economy under, its only a matter of time. subprime loans were the catalyst for the 2007 crash. the oil drop is much bigger in size the the subprime loan mess. watching oil drop is like watching a fuse burn.

The about-Russia theory was certainly more credible before Obama publicly announced it being about Russia.

Alberta guy may have a valid theory. The character of their post indicates they may also be lamenting the loss of excessive compensation for short term contribution to a job that has long term fallout; cracking. States such as Pennsylvania have been portraying frack'ing as an alternative and opponent to big oil, not bed-buddies and while it may be good for providing high paying jobs they are generally being worked by people from out of state. For the average local, that is not the picture of buoyed economy, that is the picture of transients who may be spending a few bucks while in town helping produce future sinkholes that ruin the locals' property and water supply.

My theory on oil: the cost paid by big oil to harvest and refine oil per barrel has been stable for decades, meanwhile, the better part of the last 10 years, any time there has been the slightest squeak or blip of a reason for Wall Street to get it's panties in a bunch, the price of oil goes up; unrest in Middle East, oil goes up; summer vacation season, oil goes up; Greece, oil goes up; presidential election - oil goes down; escalating unrest in Middle East - oil goes back up; Kardashian has a pimple, oil goes up ; something goes bump in the night anywhere in the world, oil goes up. People not hurting enough, oil goes up. The past three months global unrest and blips and burps and bumps in the night are as bad or worse than ever ...... and oil goes down ? ..... and down ..... and still going down at present. 600 recently shutdown rigs would seem to indicate a reason for oil to be going up .... oh, wait, the Wall Street thing .... futures ....that will take some time to be appreciated at the pumps, yada yada yada . Pennsylvania raised state gasoline tax 10 cents a gallon 11days ago and prior to that the cost per gallon tends to be 30 to 40 cents higher than national average. Feds making similar noise. The crux of this is, those in control of the oil business can raise or lower the cost of oil any time they want to and they can lay the blame for any reason they happen to come up with regardless of validity and that - say so - IS the only worldwide event that really dictates the price of oil, most other explanations for it going up, down or sideways are caca.


*ps-somebody making $100, 000 a year or more and acquiring pricey homes and gas guzzlers on credit is well on their way to ruin of their own volition without any help from 'da man

Not likely. The only ones that will be hit is the oil companies and alternative energy sources. The middle class will fill their tanks for less along with the truckers. Goods will drop in price. Cheaper energy is a boost to the economy.