Oil Prices Fall - This time it's for real

This morning the oil price broke hard after Gustaf came home drunk and fell asleep.

There have been attempts to rally after Georgia Russia, couldn't hold, then hurricanes, couldn't hold. There are oceans of Oil looking for a home. Gasoline futures dropped almost 25 cents this morning, not that you'll see that at the pump today but you should.

This drop today does something in the oil market, it broke some key support that means Oil is headed even lower. I suspected there would be a 115-120 trading range for a while but that has been destroyed. If oil closes a buck either side of 107 today katie look for the door you were going to bar.

Next stop under 100. Oh, it will trade here for a bit but then after getting it's senses around itself will head south.

Last December inquiring of the Lord for 2008 I looked for a word regarding fear in the economy. This is what the Lord said:

ECONOMIC CONDITIONS AND CHANGES IN 2008

The housing bubble that many feared will wash through the economy with far less effect than anyone thought would be possible. That's God's mercy on us all.

2008 will in large part be considered a Good Year with economic optimism by the end of the year .

The dollar will rebound in 2008. Money will flow into the economy from export sales and investments in the USA of those who hold dollars.

There will be a retrenchment in the value of the stock markets, a correction but less than thought. And it won't last long.

Oil will not hold at the prices it which it is selling today. In real dollars oil will remain a bargain.

Commodity prices retreat in 2008 as the dollar rebounds. The combination of lower commodity prices and a higher dollar will make for positive economic conditions in the USA and around the world.

Interest rates will remain below the average of the last decade. Artificial credit influences will be a dampener of the magnitude of economic recovery.

I no longer trade the market like I once did. The word of the Lord on the economy is not advice for trading but assurance that things will be OK or not.

One thing I know for sure, He already knows all there is to know and shares some of that with us. He does nothing unless he tells his prophets. His prophets are to share that information and then encourage the People of God regarding these things. The first encouragement is always, fear not!