Forex Books Talking

are still pumping flat out and Iran continues to ramp up production, nevertheless demand destruction of many smaller oil producers operating at below break even prices is finally starting to be discounted by the market.

In the unspoken plan to shut down what the oil-aristocrats called, “high cost producers”, let’s call that the Shale-Oil-War, the war-word was never mentioned.

But it was war and there were casualties, Big-Time. There will be more bankruptcies in the Exploration and Production (E&P) sector and painful write-downs by the banks

painful write-downs by the banks who supported it; many once oil-rich countries have been pushed into recession and the ripples are traveling down the value chain..

traveling down the value chain...there are long lines of cold-stacked brand-new drilling barges built on credit, closed steel plants and the mines that fed them, all the way through to the FAO Food-price

all the way through to the FAO Food-price Index that tracks oil prices. No wonder China is in some sort of recession, they were the final assembly point for a good part of the stuff you need to get oil out of the ground.

The Obama administration's proposed $10.25 per barrel oil tax adds up to approximately $32 billion a year, and critics are coming out of the woodwork in defense of both the oil industry and

in defense of both the oil industry and end users who would foot the bill for transportation system reforms-but it may be a moot point since the effort will simply be killed off by Congress

Commodities Crude OilBy: Ed_Carlson Last week's forecast for a high in the Dow on February 1st was a perfect hit. As of last Friday, the Dow has fallen 438 points since last Monday's high.

Crude spent last week trying to breakout from the 34-dma but, in the end, fell $2.73/bbl. for the week closing at 30.89 and printed an engulfing bearish candlestick on the weekly chart.

The pervasive narrative on Wall Street is that the collapse in oil prices will, any second now, restore consumers to their profligate spending ways. In fact, financial pundits have been calling for plunging

financial pundits have been calling for plunging energy prices to imminently rescue the economy for the past 18 months. Most importantly, these same gurus, who love to espouse the benefits of a

collapse in oil prices, never connect the dots to what this collapse says about the state of global growth. Instead they argue it is solely a function of a supply glut that is the result of increased production.

Crude oil is already down 17% this year. It broke into the $20 range last month. And the total fall since July 2014 is 72%.You (and nearly everyone else) expect much higher oil prices after a crash like we've seen. But that's the problem..

Crude oil prices have dropped from about $106 in June of 2014 to briefly under $30 in January of 2016 – down about 74% peak to trough. This appears to be an on-going disaster