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(CNN)   Oil hits $60 a barrel for the first time in 2.5 years. This is good for ... wait, who's it good for?   ( money.cnn.com) divider line
    More: Interesting, Petroleum, Dow Jones, Dow Jones Industrial Average, Dow Jones Indices, OPEC, S&P Dow Jones, Trademark, Dow Jones & Company  
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1128 clicks; posted to Business » on 27 Dec 2017 at 9:49 PM (28 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



51 Comments     (+0 »)
 
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2017-12-27 05:47:39 PM  
Pro tip: it's not you
 
2017-12-27 05:56:55 PM  
A couple of Kochs

A bunch of Mooslims
 
2017-12-27 06:41:32 PM  
Scottish independence?
 
2017-12-27 06:55:32 PM  

Reasonable Human: Scottish independence?


Come to think of it....maybe?
 
2017-12-27 07:54:08 PM  
Testicular cancer.
 
2017-12-27 08:20:29 PM  
Russia. Their economy imploded when it went to $30. And now they're working with OPEC to raise them again.
 
2017-12-27 08:50:57 PM  
img.fark.netView Full Size
 
2017-12-27 09:01:34 PM  
Americans suffer when the price of oil rises because they have to pay too much for energy, and they suffer when the price of oil drops because of lay-offs in the energy sector. Maybe we should try to quit the habit? Heck, might even keep the planet habitable for humans, if you're looking for fringe benefits
 
2017-12-27 09:18:36 PM  
Absolutely no one!
/sayitagain, y'all!
 
2017-12-27 10:01:38 PM  
img.fark.netView Full Size
 
2017-12-27 10:12:04 PM  
This is the Democrats' fault, somehow.
 
2017-12-27 10:15:34 PM  
It's good news for renewable energy.
 
2017-12-27 10:19:14 PM  
High oil prices lead to high gas prices and that's good for the adoption/transition/pressure for hybrid and electric vehicles.  This would seem to be a good thing for carbon emissions in the long run.
 
2017-12-27 10:24:29 PM  

Generation_D: [img.fark.net image 850x219][View Full Size image _x_]


Rex Tillerson
 
2017-12-27 10:28:45 PM  
coopers?
 
2017-12-27 10:33:27 PM  

wademh: Generation_D: [img.fark.net image 850x219][View Full Size image _x_]

Rex Tillerson


Amazing coincidence.
 
2017-12-27 10:33:41 PM  
Oklahoma legislature...since they can't fix the budget, maybe some oil money will fix it for them

...Wait...what am I talking about? With all the tax breaks, oil companies don't pay much taxes.

/And earthquakes. Back come the earthquakes.
 
2017-12-27 10:45:06 PM  
Venezuela
Russia
Fracking
Solar
 
2017-12-27 10:55:18 PM  

jasonvatch: A couple of Kochs

A bunch of Mooslims


Don't forget the Russians.

Funny how things turned around for Russia after Trump got elected.  Probably just a coincidence.
 
2017-12-27 11:06:39 PM  
good god y'all
 
2017-12-27 11:06:51 PM  
Shouldn't our Alaskan farkers be happy about this?
 
2017-12-27 11:11:18 PM  
This is good for ... wait, who's it good for?

Venezuela can starve a little slower.
 
2017-12-27 11:13:47 PM  
So this is the reason that Tillerson is leaving the WH?  I mean besides that being the Sec of the State is like eating a shiat sandwich.
 
2017-12-27 11:41:21 PM  
Russia.
This is good for RUSSIA.
 
2017-12-27 11:43:36 PM  

jasonvatch: A couple of Kochs

A bunch of Mooslims


Alaskans.
 
2017-12-27 11:44:14 PM  
It's another win for Donnie Two Scoops! MAGA!
 
2017-12-27 11:46:24 PM  

PsyLord: So this is the reason that Tillerson is leaving the WH?  I mean besides that being the Sec of the State is like eating a shiat sandwich.


You may have cause and effect reversed.  He's signaled from the start that his goal was to make it to the end of the year.
 
2017-12-27 11:47:27 PM  
Who's it good for?

img.fark.netView Full Size
 
2017-12-27 11:54:02 PM  
Alberta
 
Xai [TotalFark] [BareFark]
2017-12-28 12:14:52 AM  
Funny how gas prices went up under bush, down under Obama and back up under trump...
 
2017-12-28 12:17:29 AM  
Clearly the market is pricing in a hot war between Saudi Arabia and Iran.

/hope I'm wrong
 
2017-12-28 12:37:18 AM  
kyleaugustus

High oil prices lead to high gas prices and that's good for the adoption/transition/pressure for hybrid and electric vehicles. This would seem to be a good thing for carbon emissions in the long run.

Except a good majority of those low carbon footprint types recharge their cars from coal power plans so you really aren't doing anything for the environment, just shifting the blame.
 
2017-12-28 12:43:45 AM  

Xai: Funny how gas prices went up under bush, down under Obama and back up under trump...


Except they didn't. Gas has been under $2 a gallon here for about a month, for the first time in probably fifteen years.
 
2017-12-28 01:01:52 AM  
CNN: the most trusted name in golf?
 
2017-12-28 03:10:12 AM  
36% + time on the links.
 
2017-12-28 03:15:22 AM  
This is good for Putin.
 
2017-12-28 04:36:49 AM  
Prostitutes in North Dakota will be happy once the oil boys return.
 
2017-12-28 04:50:27 AM  
It's great news for the electric car industry -- especially Tesla.  It's also good news for shale oil companies.

Gas is just over $2/gallon in SC right now.  If/when the price of oil doubles to get us back to above $100/barrel (which used to be the norm) -- maybe $120/barrel... gas will be $4/gallon or higher.  With electric cars dipping into the 30K to 50K price range soon, it will make them much more attractive.

Remember the glut of oil on the market came from OPEC countries shredding their max caps on production to stave off shale oil production.  Every oil container ship in the world was topped off and served as a floating reserve.  Every country purchased in bulk until their storage containers could take no more.

OPEC has been dialing production back now that lots of shale oil companies have gone bankrupt.  They can cut production, raise prices, and even let the prices rise above what they were before without fear of anyone daring to invest heavily in shale oil for fear that they'd repeat this scenario and put them out of business again.

I'd say get ready for $5/gallon gas in the next 5-10 years if this keeps up.
 
2017-12-28 05:15:00 AM  

Bovine Diarrhea Virus: Pro tip: it's not you


That's actually not true anymore. Reasonably priced oil is good for US Output while still not got enough for Saudi Arabia (and OPEC), Iran, Russia, Venezuela, and other bastions of freedom.

Cheaper oil would be worse for the US as we would be importing more while producing less.
 
2017-12-28 05:40:48 AM  

DesertCoyote: CNN: the most trusted name in golf?




img.fark.netView Full Size
 
2017-12-28 05:41:23 AM  

Xai: Funny how gas prices went up under bush, down under Obama and back up under trump...


Where were you when gas was selling for $4.00 per gallon?
 
2017-12-28 07:03:06 AM  
Great for Houston
 
2017-12-28 07:52:05 AM  
Oh boy! Maybe now that the oil industry isn't poor we can stop the entitlements they receive?
 
kab
2017-12-28 09:39:10 AM  
Shareholders, duh.   Their demands are of the utmost importance.
 
2017-12-28 09:43:42 AM  
Good for this guy, he will be able to buy another chin. The guy who dies with the most chins wins.

img.fark.netView Full Size
 
2017-12-28 11:08:50 AM  
Me. It is good for me.
 
Azz [TotalFark]
2017-12-28 12:47:18 PM  

southernmanblog: Xai: Funny how gas prices went up under bush, down under Obama and back up under trump...

Except they didn't. Gas has been under $2 a gallon here for about a month, for the first time in probably fifteen years.


Yay! Anecdotal evidence!

img.fark.netView Full Size
 
Xai [TotalFark] [BareFark]
2017-12-28 01:52:49 PM  

southernmanblog: Xai: Funny how gas prices went up under bush, down under Obama and back up under trump...

Except they didn't. Gas has been under $2 a gallon here for about a month, for the first time in probably fifteen years.


apologies, jumped the gun - they will go up under trump.
 
2017-12-28 02:23:35 PM  

stilted: Oklahoma legislature...since they can't fix the budget, maybe some oil money will fix it for them

...Wait...what am I talking about? With all the tax breaks, oil companies don't pay much taxes.

/And earthquakes. Back come the earthquakes.


You can hate oil companies for any number of reasons but it is a myth that they don't pay taxes.  Exxon pays more federal taxes than any other corporation in the USA.
 
2017-12-28 02:35:02 PM  

Into the mix: You can hate oil companies for any number of reasons but it is a myth that they don't pay taxes. Exxon pays more federal taxes than any other corporation in the USA.


I'm referring to tax breaks Oklahoma gives oil companies and related industries...tax breaks the oil industry in Oklahoma has been campaigning to keep during our current budget problems while at the same time lobbying to end them for wind energy.
 
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