The Price of Oil

One of the key indicators for the economy is the price of oil...If our economy and the economies of other leading crude consumers continue to deteriorate, industries will use less oil.

So when I saw this posted on Urban Survival this morning, all I felt was dread...

Just like I expected, the OPEC'ers have cut production by 1.5 million barrels a day in order to hold up global consumers so they can pay for all that opulence built on sand with borrowed money.

If you're wondering why oil is trading below $65 a barrel anyway, it's because this is how depressions begin, my friend. Demand collapses, price collapses; repeat as often as necessary until you're in a soup line.

If I remember correctly it's only been three months since oil was being traded at it's historic high of around $147 in July.