Rebound over the last few months could simply encourage US firms to restart production, while undermining any pick up in demand, wrote Julian Jessop, head of commodities research at Capital Economics in a recent report. Think that prices are now more likely to fall than to rise over the remainder of the year. Continental Resources CEO Harold Hamm told investors last week that his company would start sending more rigs out to the field if oil gets near $70 a barrel..
Gerken’s supervisor, a 41 year veteran of the oil patch named Don Hawker, has seen downturns before. But this one, he reckons, is a “doozy.” Their company, MBI Energy Services, has been fighting tooth and nail to get the few jobs that remain, but competitors often undercut them on price. At a time when so many are desperate for work, it can feel like a race to the bottom..
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Moreover, the state whose hulking textile mills are now home to countless cheap jerseys service industries, from restaurants to campaign headquarters, has been telegraphing the same message for some time about economic concerns. As others have pointed out, another insurgent Republican with a message markedly similar to Trump’s (remember “peasants with pitchforks?”) also won favor with New Hampshire voters. Bush in the 1992 Republican primary, and he won it in 1996.