Bruce Nunnally Posted December 12, 2014 Report Share Posted December 12, 2014 The worlds biggest oil companies faced ruin in the summer of 1931. Crude prices had plummeted. Wildcatters were selling oil from the bonanza East Texas field for a nickel a barrel, cheaper than a bowl of chili. On Aug. 17, Governor Ross Sterling declared a state of insurrection in four counties and sent 1,100 National Guard troops to shut down the fields and bring order to the market. A month later the Railroad Commission of Texas handed out strict production quotas. Read more: The Relentless Production of Shale Oil Is Breaking OPECs Neck. http://www.businessweek.com/articles/2014-12-11/shale-oils-relentless-production-is-breaking-opecs-neck?google_editors_picks=true Bruce 2023 Cadillac CT4-V Blackwing Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
Cadillac Jim Posted December 15, 2014 Report Share Posted December 15, 2014 The marketplace is a cruel, unpredictable place. A recession/depression/panic/whatever is a cruel commercial environment for all. But there are a lot of good Saudis, Iranians, Russians, etc. out there that are having their problems along with the bad guys. -- Click Here for CaddyInfo page on "How To" Read Your OBD Codes-- Click Here for my personal page to download my OBD code list as an Excel file, plus other Cadillac data -- See my CaddyInfo car blogs: 2011 CTS-V, 1997 ETC Yes, I was Jims_97_ETC before I changed cars. Link to comment Share on other sites More sharing options...
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