Oil has fallen below $50 a barrel. What does this mean to you?

[CBC News]

If you're an Albertan in the oil industry, will this affect your job prospects? If you drive, what impact does this have?
Are you expecting a lower home heating bill?

Full story

With oil below $50 a barrel. What does this mean to you?



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[darkbeaver]

Soon oil will be free and the new cars will be huge

 

[scratch]

Almost a repeat performance...

 

[#juan]

This means that there are incredible new discoveries of oil. With oil now being so plentiful, the price has dropped to levels we haven't seen in years. Anybody believe that? I wonder when the next hurricane is coming so that not real damage, but the fear of damage to refineries will drive the price sky high again. Will we pay the phony increase again? Of course, we always do.....:angry3:

 

[Socrates the Greek]

what gos uppppppp must come downnnnnnnnnnnnn and the oil will stay down for the next longer term.........

 

[GreenFish66]

This should mean cheaper prices for consumers but don't fall back into bad spending habits..Oil companies and investors will be working their hardest..Using all the tricks of their trade to raise these costs again!!...Budget your money wisely...Alternative energies and green/technology will ensure this Crisis isn't manufactured again!!

 

[Socrates the Greek]

It has been said that oil could go up to $300 per barrel; it would be hard to imagine wanting to burden a bad economy with such high energy cost to move goods and people.

 

[Walter]

With oil below $50 a barrel. What does this mean to you?

Soon it will be time to buy oil stock again. Sold all mine a about a year ago.

 

[darkbeaver]

It's called deflation, I guess. Prices will fall, everybody has to chase dwindling piles of cash and then they'll start up the presses and we will experiance hyperinflationary depression.

But our Canadian economic miracle will remain entirely unscathed.-- Harpo the family oriented Nazi

 

[Scott Free]

Wow, we need more "green" tax to prop up our oil industry I guess :roll:

 

[darkbeaver]

Wow, we need more "green" tax to prop up our oil industry I guess :roll:

Scott, that'll be Conservative policy tomorrow, they monitor CC.

 

[Scott Free]

Scott, that'll be Conservative policy tomorrow, they monitor CC.

You know it ;-)

 

[Ron in Regina]

OPEC will slowly turn the taps down, a twist at a time to create an artificial shortage
until people panic and eventually will creep the taps open a bit to stabilize the price at
a number that they're comfortable with. New exploration will fall off until it's profitable
to bother again. Same old same old...

 

[tracy]

It means it only cost me $25 to fill up today instead of $40. I'm sure it will go up again, but it's a nice reprieve anyways.