I'll preface by saying I have family working and owning businesses in several aspects of the oilfield. And understand the oilfield is a major contributor to our local economy.
Up until the mid 70s a barrel of oil and a barrel of rice were hanging around $20. Oilmen and farmers alike were able to make money at that time at those prices. Since, oil has doubled many times over to heights near $150 a barrel and now that it dips below $50 we should be worried about oil companies? A barrel of rice has briefly risen to above $30 a barrel but has again fallen to below $20 a barrel.
So if we could tie the price of a barrel of rice to the price of a barrel of oil I'd love to see it rise. Until then high oil prices do me no good at all.
Up until the mid 70s a barrel of oil and a barrel of rice were hanging around $20. Oilmen and farmers alike were able to make money at that time at those prices. Since, oil has doubled many times over to heights near $150 a barrel and now that it dips below $50 we should be worried about oil companies? A barrel of rice has briefly risen to above $30 a barrel but has again fallen to below $20 a barrel.
So if we could tie the price of a barrel of rice to the price of a barrel of oil I'd love to see it rise. Until then high oil prices do me no good at all.