As to my point concerning all commodity prices dropping, with more to come.
About 12 January 2015
"The Bloomberg Commodity Index of 22 energy, agriculture and metal prices dropped as much as 1.6 percent to 101.95, the lowest since November 2002. In 2014, the gauge declined 17 percent, the most since the global financial crisis in 2008. The measure rose to a record in July 2008, more than doubling from the start of 2000.
A rout in energy prices has led the declines for raw materials, with oil dropping to the lowest in more than five years and Goldman Sachs Group Inc. forecasting more declines. Supply gluts are emerging in grains, helping to keep food inflation in check, while a slowdown in global manufacturing hurts demand for metals."
http://www.bloomberg.com/news/...-rout-growth-concern
More to come: 13 March 2015
"Goldman Sachs says commodity prices will plunge 20% more over six months. Bloomberg’s Alix Steel reports on “Bottom Line.” (Source: BloombergGoldman Sachs says commodity prices will plunge 20% more over six months. Bloomberg’s Alix Steel reports on “Bottom Line.” (Source: BloombergGoldman Sachs says commodity prices will plunge 20% more over six months. Bloomberg’s Alix Steel reports on “Bottom Line.” (Source: BloombergGoldman-Sachs forecasts a further 20 percent drop in commodity prices."
http://www.bloomberg.com/news/...-in-commodity-prices
Its going to be a bumpy ride -- thanks, in part, to Obama.