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re: How do you balance free market capitalism with what Saudi Arabia and China are doing?
Posted on 4/1/20 at 10:00 pm to cwill
Posted on 4/1/20 at 10:00 pm to cwill
quote:
Has the resource disappeared? Just because a bunch poorly run shitcos, that were going to Bk anyway just sooner now, go away doesn’t mean the resource can’t be exploited when it’s economic. And it was only economic because OPEC and Russia were cutting their production while shale shitcos continued to drill themselves into subeconomic prices while piling on debt.
You mean the drill baby drill mindset might have some negative consequences?
2
Posted on 4/1/20 at 10:11 pm to Powerman
quote:
You mean the drill baby drill mindset might have some negative consequences?
No. Not long term. Extenuating temporary circumstances will not decrease the long term value of a needed commodity.
Now the long term need for that commodity may be another argument in a few decades. But not now. .
Posted on 4/1/20 at 10:26 pm to Powerman
quote:
You mean the drill baby drill mindset might have some negative consequences
Yeah, you end up relying on OPEC and Russia to prop up pricing for your dumbass financial decisions. Most of these fricktards on this board have no idea how much of a shite show the energy biz has been for the last 10 years.
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