Obviously a lot at play and not all win win.

For poor and working class. We get to keep more of our hard earned money. I hope it goes below a buck. That is what it was during the Clinton economic boon.

not sell it to China for profits.

It's way past time to nationalize the O&G industry since they can't handle their excessive profits and it goes to the pockets of CEO's which has not earned a damn dollar. It's time that we utilize the needs properly.

And we should close all the oil fields and convert them to wind/solar energy, which creates real paying jobs in the long term, while Oil/Gas can only be finite and short-term.

Saudi Arabia is playing the long game on this one, but the average person will benefit worldwide in the meantime. Less money going into OPEC/BP pockets and more money in the American economy. Good thing for us.

fracking fields. It seems that the current technology has gotten competitive price-wise and there is a new technology in the works that would make a lot more fields viable. By driving down the price of oil, companies will stop spending the R & D dollars to develop it because it won't make sense fiscally. I don't think OPEC ever saw fracking as a threat because initially it was too expensive. As they have improved the methods it has become competitive price-wise and a threat to them. They didn't react to the initial fracking boom and maybe this time they don't want to repeat the same mistake.

That is what I read, I don't know how true it is but it makes sense.

$60 a barrel I think.

The current oil price fall is largely speculator driven. The actual growth in inventories is fairly small.

And don't look now but rigs that had three year wait times are suddenly available in the Gulf Coast. Permits for new wells are way down in November as well.

While the speculators may have driven the price down, it may not be long before the physical drives inventories lower, then it's anybody's guess where the price goes.

The tide is flowing out today. You'll see some players with high marginal costs and crappy balance sheets get squeezed, maybe tank. Banks aren't too friendly when your revenue is squeezed by 40% and your borrowing base has collapsed.

The most important thing I've learned over the years is no matter who tells you they know what's going on with any commodity price, they don't know anything.