I go downstairs to the lobby of the motel on the Blue Ridge here in North Carolina to get some coffee.
The proprietor--up early, as usual--taking things to the Incontinental Breakfast Nook, stopped me and said, "Have you read the paper this morning?"
I replied "No, I've not."
"Iran dropped the price of oil to $50 a barrel!"
"Can't trust 'em."
"frowns and shakes head"
"This is just the beginning, buddy. They're gana put all that frackin' out of business."
...best not to say too much this early in the morning even on a good day, but especially wrt things like this.
Oversupply/excess reserve, and the potential that restrictions on the free-flow of Iran's supply will be rescinded are not good indicators for those who place bets and profit on rising oil futures.
Right there in the USA Today on the stand by the front desk for anyone to read.
It's going to be a cloudy, rainy day up here in the mountains, but I'm ready to face the day, and further bolstered by good economic news :)
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