"Idiot" I couldn't agree with you more! Not to mention the strain it puts on frackers and shale producers. They'll be going belly up in no time. That's the Saudi's plan. Less Fracking isn't a bad thing environmentally speaking.
Do not agree. Losing 10% or even more in a day will not hurt a persons retirement if they are still not near retirement age. Anyone near retirement age who gets hurt in market corrections, has too much exposure in stocks. That's no ones fault other than their own. Btw...gas savings will be much more than 20 cents a gallon and it helps a lot of people and industries.
He's an idiot - what good is saving 20 cents/gal on gas when you just lost 10% of your retirement portfolio's value in a single day? This is crushing for those who need to sell stock to pay the bills - hell, even my bond funds got hammered. Looks like a dead cat bounce today - I'm still not buying anything, but getting close to pulling the trigger on adding to existing positions.