Thursday, December 04, 2008

Kern River Crude (Midway-Sunset) now below $30bbl

The price of Kern River Crude dropped to $29bbl today. Are we headed to the teens?

It the price continues to drop, I would expect home prices and the rest of our local economy to get even worse.

I have talked to several local well established businesses that are on the brink of going under. I feel bad for their employees, most of them have no idea they are about to lose their jobs. All of the actions by the government have failed (as expected) and going forward will only make things worse.


Rob Dawg said...

Desperate times, desperate measures. The US SPR should contract long term for say... $38 oil from Kern.

Bakersfield Bubble said...

Now @ $27...