. >> joining me is rick newman. rick good to see you again. you're not surprised are you that oil continues to lose ground? many of you predicted this before the holidays. >> none predicted a 50% dplien, truly almost there is hardly anybody who was predicting any of this. mostly you heard oil would stay around 100 105 dollars a barrel. it's not just that oil prices are falling. that's generally ogood thing for the economy. it's that oil prices have fawrnl sofallenso fast and up ended the cause and effect situation. saudis are continueing to produce and the prices are continuing to fall. this hasn't been what we saw before and this is what is controlling the markets. >> the markets are freaking out a bit. at what price point ber gallon do these declines -- per gallon do these declines have per gallon? these seem like a bit of a tax cut. >> i think we need to take a step back. i'm not sure they have a negative effect on the u.s. economy as a whole. >> really? >> we are having traders people who invest in the futures saying this is a washout. thi