Replies to post #8717 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[wz9ytp]

Screw the drought. Drink beer!

[Ryantacular]

2.15 a gallon here in Houston. But I want oil high anyways, so let's climb. I'd rather have 3.50 gas than this 2.15 Bs. Working in the oil industry and so many layoffs, low oil is scary enough for me.

[trdwatch]

You're quite a bit off on this, Nebo....

fyi gas prices in CA are back over $4 again an oil is at what?? n0t $80, not $90, not $100 but $59 a barrel.

It's roughly $3.17 p/g today. Way up from last week but nowhere near $4.00.

looks like every person that thought lower fuel prices would stimulate the economy are going to be proven dead wrong.

if oil gets back anywhere near $80+ California is screwed

You'd have to be pretty stupid to believe anything Obama says in his SOTUA. The lower to middle class will feel it for sure. It only went over $4.00 p/g here when oil was around/above $100.00 - with the newest 'carbon' gas tax the Democratic majority imposed on us Jan. 1st 2015, I'm guessing it'll take $80 -$90 oil to hit $4.00 now. We just don't know yet. But the higher gas goes, the higher the tax will go (like the last one). The reason for this tax was because their last green initiative gas tax caused less revenue coming into the state because folks used less gas. It backfired so they have to tax us again to make up for those lost revenues.

5th largest economy in the world and consumers will be strained yet again just when everyone thought things were hunky dory.

Ca. hasn't been the 5th largest economy in the world in a long time. When we had the oil rigs going and all the farmland producing, and lower taxes, we were the 5th largest. The left wing nut jobs in this state stopped all that. And right now they're putting the boot to the farmers necks for their land.

oh and there is a major drought there too

You're obviously not from Ca. We have a drought cycle about every ten years. This ones not as big a deal as the media is making it out to be. Early 90's was much worse than what we're having right now and we came out of that just fine. Low well water levels exist but They're sparse and the politicians will find them, even turn water off, and make a huge deal out of it for the media. The water table in my well is as high as it always is. The politicians in this state have a power and money addiction. Did you know that the very first declaration Governor "moonbeam" Brown made when he got re-elected the term before this one was officially declaring the drought in Ca. over. Too funny! Don't believe everything you hear.

[RBKissMyAs]

Yep, a certain segment wants to see California go under, but the mere fact that it is the 5th largest economy will keep it from doing so. FYI, we have a 6.5 billion surplus. I have news for ya, since it is such a huge economy, the rest of the country better hope it stays afloat. What happens in California eventually ripples across the rest of the US.