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Oil Prices, Energy Trends & What Comes Next

The problem is we are too dependent on it, if only we didn't go the direction of sucking dirty oil to pollute our environment for energy.
 
It's funny to read back over this thread now, you can really feel the roller coaster effect.
 
Oil companies slash spending, jobs as prices slide for second time

Wow, does the prospectus change fast, looks like more decline in the oil industry in America. Just proves that anything can happen. Yet tomorrow, we can hear that oil prices will skyrocket back up and back to the boom...just never know.

In North Dakota, Whiting Petroleum, the top producer in the No. 2 U.S. oil industry, cut its capital expenditure budget days after optimistically raising it 15 percent on bets the renewed downturn in prices would be a temporary blip.ConocoPhillips, the largest U.S. independent, trimmed its 2015 budget for the third time on Thursday, by $500 million to $11 billion.
More ominously, Linn Energy, a small exploration and production company, suspended its quarterly distribution to investors on Thursday to conserve precious cash that has largely evaporated on the price drop. Its shares fell 26 percent.

Conoco CEO Ryan Lance said the company was preparing for "lower, more volatile prices."
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I never understood the futures of oil?
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I thought it was just what they expect it to be down the road. Kinda like farmers do planting crops. They know that wheat should do better on the market than corn for the following year and plant accordingly. At least that is the way I understood it. Correct me if I am wrong.
 
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