Oil closed below eighty bucks today. Which was inevitable.
[Wednesday morning update]
Below seventy two dollars this morning. That’s going to put a crimp on Chavez’ and Ahmadinejad’s murderous ambitions.
5 thoughts on “Unsustainable”
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Can we call this bubble popped?
Hmmmm.
Well it looks like Hugo Chavez is screwed.
Much lower and we’ll have some issues in the other direction – the big companies will pull back on new projects especially in the oil sands where development costs are higher. Might have a big impact on construction workers & all the support industries.
And gas is $2.60/gallon down three cents from yesterday in Kansas City, MO.
Doesn’t anyone want to shed a tear for Putins petro state Russian having to curtail invasions for a while?
😉