Already busted?

Leaving aside the larger issue of it being well past time to move away from fossil fuels altogether, I wonder what a 2019 election season in Louisiana will look like if the background context is falling oil prices?

The selling leading up to Wednesday was further exacerbated as traders unwound long oil - short natural gas trade, market participants said. As oil crashed from the high touched in October, natural gas futures NGc1 soared as much as 56 percent during that time to a 4-1/2 year high.

Moreover, financial firms hedging the risk incurred by selling put options to oil producers, generating added downward pressure when prices fall toward option strikes, Goldman Sachs said in a note.

Oil markets are being pressured from two sides: a surge in supply from OPEC, Russia, the Unites States and other producers; and increasing concerns about a global economic slowdown.

“This market is attempting to find a price bottom following an unprecedented 12 consecutive days of decline,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

Also, did you know, the US is the world's leading producer now?