And Chevron in California is still selling gas at $2.99.
Why is it scary, because those who have taken advantage of OPEC's price fixing are not able to do so now. By not objecting to the cartel's unfair attempt to control prices, now American oil companies are suffering. Couple this with the downturn in the world demand for oil and we have an economic disaster in the making. This is why we have been posting oil prices. It is a marker of what is coming.
The Fed chief yesterday stated they were perplexed at how low the price of oil is. That is hard to believe. They know more than we do. It is not a secret as to why the oil price is so low, and that barring any disturbance in the Middle East, it will go lower until the glut of oil is overcome. The OPEC cartel would like to by their unfair practice drive some of the competition out of business. It is working. The prophet warned against speculating in such things, as often it would lead to ruin. How many today are counting their loss as commodity prices have fallen drastically? And, some are contemplating a fast profit by investing in oil, real estate, and gold today. What does God think about such things?
God desires His servants to avoid all speculation. Satan may pave the way by making the first investment successful, but Oh, how bitter will be the final outcome! If the professing Christian has success in his first speculation, His ruin is almost certain. Visionary schemes are wildly entered into as schemers present promising enterprises which they declare will pay a large percentage on all money invested. Good men are fascinated and deceived. Shares are purchased. Then comes confusion and loss. Some are totally ruined, having in the excitement invested all they had. In the thirst for riches, reason seems to depart. One or two may gain wealth, to their own injury, but many, many are bitterly disappointed.
Man proposes, but to save him from ruin, God disposes. The Lord has instructed me that should our brethren who are engaged in speculation realize their expectation, it would be the greatest curse that could come to Seventh- day Adventists. Thus others would be led into the snare, to the peril of their souls. Those who can earn an honest living would give up their business to speculate in mining stock, selling their souls for the hope of gain.
God requires His people to deal justly and in all kindness, never oppressing their fellow-beings in any way. Instead of entering into speculation, let those who know the truth find some steady, honest employment, in which they can earn their living in a way that glorifies God. Those who encourage the thirst for speculation will extinguish the light that God has given to guide their feet aright. Making money easily, they will spend it unwisely, and their prodigality will be their ruin. To maintain their habits of selfish indulgence, they must continue to make money rapidly. The effort to make money fast enough to meet their extravagant expenses, draws many into the gambling hell.
Man cannot prosper while he tramples on God's principles and ignores His wisdom. Those who refuse to obey the words of Christ will in time reap what they have sown. When in any sense God's way is departed from, when His will is violated, whether by nations, churches, institutions, or individuals, it is written in the books of heaven, and retribution will surely follow.
Once speculation is entered into, there is ever after an unrest, a thirst for gain, a desire to engage in some enterprise by which means can be obtained with ease, to be spent with prodigality. If by the grace of God the error of this course is seen, and therefore does not prove fatal, the character bears the scars for years. {15MR 74.1}
The Ruler of the universe has protested against the greed of the natural heart, saying, "He that maketh haste to be rich shall not be innocent" [Proverbs 28:20]. God records them as guilty of fraud and transgression. "Nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy" [1 Timothy 6:17]. "Ye shall do no unrighteousness in judgment, in meteyard, in weight, or in measure" [Leviticus 19:35]. "By humility and the fear of the Lord are riches and honor and life" [Proverbs 22:4]. "Let your conversation be without covetousness; and be content with such things as ye have: for He hath said, I will never leave thee, nor forsake thee" [Hebrews 12:5]. "He that loveth silver shall not be satisfied with silver, not he that loveth abundance with increase" [Ecclesiastes 5:10]. He who says to gold, "Thou art my confidence" [Job 31:24], shall find himself "pierced through with many sorrows" [1 Timothy 6:10]. "What shall it profit a man, if he shall gain the whole world, and lose his own soul?" [Mark 8:36]. {15MR 74.2}
