The drop in demand is greater than the one in 2008.

https://www.cnn.com/2020/03/04/business/oil-prices-opec/index.html

Tourism(cruises, flights, drives) is getting hit pretty hard. As is manufacturing in China. Shipping is also impacted due to the lack of manufacturing. Traffic at sea ports is down.

In response to this post by BobG

Posted: 03/09/2020 at 1:47PM

Lower oil = lower shipping costs for businesses right? -- I85Hokie 03/09/2020 09:38AM

That's kinda true in that it acts like interest rates -- `lag 03/09/2020 11:20AM

Lower junk bonds too ** -- lchoro 03/09/2020 10:45AM

Labor costs are up, though ** -- reestuart 03/09/2020 10:35AM

Only thing being shipped is disinfecting wipes, bottled water and TP ** -- turkeywinghokie 03/09/2020 10:04AM

The problem is nobody is shipping anything, which is the root cause of the -- Fatman 03/09/2020 09:46AM

No. Oil is down due to Saudi Arabia gas war w Russia this weekend. ** -- BobG 03/09/2020 10:08AM

I disagree Bob. -- Fatman 03/09/2020 10:33AM

Ok but who’s not shipping anything? I’ve never heard that... ** -- BobG 03/09/2020 10:59AM

The drop in demand is greater than the one in 2008. -- Fatman 03/09/2020 1:47PM

The people that aren't at work in China. ** -- Hokie360 03/09/2020 12:30PM

Article -- HokieForever 03/09/2020 11:54AM

That caused today's swoon, but oil was already down before this. ** -- Hokie360 03/09/2020 10:12AM

Oil is a proxy though for overall international trade -- MrBayAreaHokie 03/09/2020 09:43AM

Lower oil prices means gov't can increase gas taxes without you seeing it. ** -- Spud 03/09/2020 09:41AM

The drop in demand is greater than the one in 2008.

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