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Started By
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re: Update, May crude oil futures now down to under $12
Posted on 4/19/20 at 11:42 pm to Errerrerrwere
Posted on 4/19/20 at 11:42 pm to Errerrerrwere
quote:
I know you will die before you ever see you petroleum free utopia.
I am in no way saying that we should get rid of oil right now and have never said anything of the sort. We may not need it to run our personal automobiles for long but we use it to make a TON of things besides gasoline. We should absolutely get rid of it if we have an alternative that is better/cheaper but that doesn't exist right now.
What I am advocating for is efficient markets and more economic prosperity at a macro level. Let the Saudis sell oil for $17/barrel if that's what they want to do. No need to game the system so that raw materials are more expensive.
4
Posted on 4/19/20 at 11:43 pm to BeepNode
You’re full of shite.
And your constant edits are tiresome. I feel good knowing you’re a try hard who will never get what he wants.
You’re boring me now.
And your constant edits are tiresome. I feel good knowing you’re a try hard who will never get what he wants.
You’re boring me now.
Posted on 4/19/20 at 11:45 pm to BeepNode
quote:
Let the Saudis sell oil for $17/barrel if that's what they want to do.
It’s not sustainable. And you would rather hurt the economy and your fellow citizens than keep it strong. All because of your fricked up political religion. We get it. Because that’s the exact thing you’ve been advocating for for over an hour now.
This post was edited on 4/19/20 at 11:46 pm
Posted on 4/19/20 at 11:51 pm to OysterPoBoy
quote:
If you aren’t stocking up on Mobile 1
Actually on sale at Costco right now.
Posted on 4/20/20 at 12:01 am to Errerrerrwere
quote:
you would rather hurt the economy and your fellow citizens than keep it strong
I laid out, with facts, why cheap oil is GOOD for the economy. Just like cheap textiles, cheap steel, cheap paper, cheap electronics, cheap furniture, etc are all good for the economy. It's weird to think that oil is the only commodity that we should want to pay more for.
America barely manufactures anything anymore and we keep chugging along.
quote:
All because of your fricked up political religion
It is you who is akin to religious fanaticism when it comes to oil prices. I'm not even that political. I don't knight for any political parties.
If your industry is important to national security then you may want to stop outsourcing your IT to other countries. Maybe that should be a requirement. You know, for national security.
Posted on 4/20/20 at 12:46 am to lsu13lsu
quote:
Hell the State government of Louisiana may have to shutdown.
Oil royalties are in a death spiral. Tourism is dried up because corona.
This state is majorly screwed!
Posted on 4/20/20 at 5:28 am to Hamma1122
WTI at $13.63 this morning.
Posted on 4/20/20 at 5:45 am to TejasHorn
That’s coming in at .32 a gallon.
Posted on 4/20/20 at 5:49 am to TejasHorn
Looks like crude and Brent are back in the $20s at the moment.
Posted on 4/20/20 at 5:56 am to tigerinthebueche
I see 13.61. Not sure what you are looking at
Posted on 4/20/20 at 6:07 am to BeepNode
quote:
Even if it's 400k jobs the nation is still better off with cheap oil.
this might be the dumbest thing I’ve read all year. congrats
Posted on 4/20/20 at 6:11 am to bnb9433
They think it will stay here. It wont. The price will rebound once many american companies go under. Saudi needed 42 dollars a barrel last I read. Russia needs 46.
Posted on 4/20/20 at 6:12 am to Nado Jenkins83
Crazy times
Posted on 4/20/20 at 6:13 am to bnb9433
Sucks for sure. I am on call in 45 minutes for the week. If I'm gonna get laid off do it now so I don't waste my week.
This post was edited on 4/20/20 at 6:14 am
Posted on 4/20/20 at 6:17 am to tigerinthebueche
quote:Brent, yes. But WTI is <$15.
Looks like crude and Brent are back in the $20s at the moment.
Posted on 4/20/20 at 6:17 am to Tonio
quote:
Saudi Arabia can act like it ain’t no thing, but they are motherfricked if this keeps up.
If they we in such terrible shape they would just cut production. Their long term goal is working so far. Hurt other oil producers, particularly shales, and buy up stocks of oil companies at low prices. Once they cut production oil prices will go back up and those stocks will likely recover.
Forbes
This post was edited on 4/20/20 at 6:19 am
Posted on 4/20/20 at 6:17 am to Nado Jenkins83
quote:
13.61. Not sure what you are looking at
My app is called Stocks Tracker.
Posted on 4/20/20 at 6:21 am to tigerinthebueche
Bottom line is as shale producers we got too good at it. Too efficient. It's a war to eliminate competition.
Posted on 4/20/20 at 6:22 am to BeepNode
quote:
We should absolutely get rid of it if we have an alternative that is better/cheaper but that doesn't exist right now.
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