Will Obama bail out the oil industry next?

T

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Joe Biden - "Time to put Trump in the bullseye."
NO MORE CORPORATE WELFARE. Goddam obozo.!!! Free enterprise has turned into a joke the last 7 years.

http://money.cnn.com/2016/01/14/investing/oil-bailout-us-washington/index.html?iid=hp-toplead-dom

jan 14 2016 America's once-booming oil industry is suddenly in deep financial trouble.
The epic crash in oil prices has wiped out tens of thousands of jobs, caused dozens of bankruptcies and spooked global financial markets.

The fallout is already being felt in oil-rich states like Texas, Oklahoma and North Dakota, where home foreclosure rates are spiking and economic growth is slowing.
Now there are calls in at least some corners for the federal government to come to the rescue.

"It is time to send out an S.O.S., before it's too late," John Kilduff, founding partner of energy hedge fund Again Capital, wrote in a recent CNBC column. In the Kilduff dictionary, by the way, S.O.S. stands for "Save Our Shale" industry.

Kilduff fears Saudi Arabia's strategy of flooding the world with oil to put pressure on high-cost producers in the U.S. will kill America's shale business.
"While we are laughing our way to the gasoline pump now, we are heading back down the road to dependence on OPEC and foreign oil," he wrote.
Greg Valliere, chief strategist at Horizon Investments, thinks an oil bailout could become the next big issue in Congress.
"If Washington can bail out big banks and the auto industry, why not a bailout for oil companies?" Valliere wrote in a client note on Thursday.
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Kilduff fears Saudi Arabia's strategy of flooding the world with oil to put pressure on high-cost producers in the U.S. will kill America's shale business.
"While we are laughing our way to the gasoline pump now, we are heading back down the road to dependence on OPEC and foreign oil," he wrote.
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I've been saying that since mid to late 2014.

Libtards are not only for the "strategy" but will deny that strategy is actually in play.
 
I bet Obama invokes climate change to call for increasing the price of oil. We can't have cheap oil leading to more consumption by all those rednecks in their SUVs
 
I don't think there should be a bailout but as great as low gas prices are it is definitely hurting large areas of Texas right now. I'm be willing to pay a little more for my gas if it meant people not losing their jobs.
 
Better in Boots said:
I don't think there should be a bailout but as great as low gas prices are it is definitely hurting large areas of Texas right now. I'm be willing to pay a little more for my gas if it meant people not losing their jobs.
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That's not how markets work though. You would be completely distorting them by artificially raising prices. And what about the people and industries hurt by higher gas prices? You can start a whole domino reaction of paying higher prices in your scenario.
 
cawacko said:
That's not how markets work though. You would be completely distorting them by artificially raising prices. And what about the people and industries hurt by higher gas prices? You can start a whole domino reaction of paying higher prices in your scenario.
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Oh I know that there isn't a perfect situation but it's just sad to hear from friends and family that are either in oil here in Texas or know people in it that are losing their jobs and struggling.
 
Better in Boots said:
I don't think there should be a bailout but as great as low gas prices are it is definitely hurting large areas of Texas right now. I'm be willing to pay a little more for my gas if it meant people not losing their jobs.
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Low energy prices are good for the economy in the long run. It just takes a little time to adapt. But it helps so many industries reduce costs and it obviously benefits consumers as well. We spend less on gas, we have more money for other things, we buy other things with that money, that helps other companies.

It's funny how rising energy and falling energy supposedly both hurt the economy. Not possible
 
I Love America said:
No bailouts. Saudi strategy is failing.
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It is crippling their economy. They have not only had to sell bonds to raise money but talking about taking their oil company public to raise capital.

Markets will stabilize. Oil will be stored until future dates when it can be sold higher.

I hope Rana's husband loses his job and she has to go on welfare
 
And just a couple years ago, obozo and the press were screaming about PEAK OIL!!!! Now here we are with an oil glut. It was all a lie and a scam - just like global warming.
 
Celticguy said:
They (Saudi) had to risk it hoping they could ride it out.
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I don't profess to really know their motives,but I know three things

1) cheap oil prices are a great thing for my pocket book

2) this puts to bed the foolish notion of "peak oil". Remember that silly talk

3) Obama's economy is so shitty even cheaper energy isn't doing anything to spur investment.

All liberals should be sent to ISIS for immediate disposal.
 
If, as seems to be the case, the Saudi's are trying to manipulate the oil market so that American interests and Frak Ing extra oil production and alternative resources will fail, I am all for our government getting involved and making sure they do not fail. If we allow thesaudi's to bully our oil market they will maintain a level of control and power over us which is not acceptable.
 
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