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re: Oil plummets 7% to 55 dollars a barrel

Posted on 11/13/18 at 5:49 pm to
Posted by AUCE05
Member since Dec 2009
44860 posts
Posted on 11/13/18 at 5:49 pm to
Gonna get worse as electric cars become the norm... Soon.
Posted by bamaphan13
Member since Jan 2011
1177 posts
Posted on 11/13/18 at 5:51 pm to
quote:


Message

Gonna get worse as electric cars become the norm... Soon.


Unicorn farts going to charge them?

That electricity has to come from somewhere.
Posted by Dr RC
The Money Pit
Member since Aug 2011
61096 posts
Posted on 11/13/18 at 5:51 pm to
quote:

I would think Trump at the moment has the Saudis by the nuts over the killing of the journalist last month.


Maybe if he hadn't basically given them a free pass over it he would.
Posted by IllegalPete
Front Range
Member since Oct 2017
7182 posts
Posted on 11/13/18 at 5:52 pm to
quote:

Rates and economics are my business, tracking currencies and commodities is part of it


Where do you see oil at in 3-6 months?

They are still drilling like no tomorrow here in the Permian, up 6 rigs over last week, up 100 rigs over last year.
Posted by lsuoilengr
Member since Aug 2008
5330 posts
Posted on 11/13/18 at 5:53 pm to
Low prices are good for the US economy.....
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53043 posts
Posted on 11/13/18 at 5:53 pm to
quote:

Maybe if he hadn't basically given them a free pass over it he would.

I hate to risk sounding insensitive but who really gives a shite if the Saudis kill a Saudi journalist?
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36444 posts
Posted on 11/13/18 at 5:55 pm to
quote:

I hate to risk sounding insensitive but who really gives a shite if the Saudis kill a Saudi journalist?



Well considering he was Turkish....
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53043 posts
Posted on 11/13/18 at 5:57 pm to
quote:

Well considering he was Turkish....

Who really gives a shite if the Saudis kill a Turkish journalist

There are atrocities that happen daily in that part of the world. I have a hard time getting all worked up about it.
Posted by BuckyCheese
Member since Jan 2015
57778 posts
Posted on 11/13/18 at 5:57 pm to
I give zero fricks.

Frankly wouldn't care if some nutjob took a few out here.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36444 posts
Posted on 11/13/18 at 5:59 pm to
quote:

Who really gives a shite if the Saudis kill a Turkish journalist


I reckon people who are against tyranny, or more realistically people who can use it for political gain
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53043 posts
Posted on 11/13/18 at 6:03 pm to
quote:

I reckon people who are against tyranny, or more realistically people who can use it for political gain

I don't support tyranny but I recognize that it exists in much of the world and don't want to risk any American lives doing anything about it unless they are direct threat to us.
Posted by hubreb
Member since Nov 2008
2082 posts
Posted on 11/13/18 at 6:06 pm to
quote:

Where do you see oil at in 3-6 months?  


I don't trade commodities, I work in interest rates based business. However, most of these markets are far more forward looking than equities. Right now higher rates is expected in US, escpecially Vs other countries... meaning dollar continues to strengthen. So I'd say prices in oil lower than today, but couldn't give a price...maybe another 10-15%. That said, this midterm election probably mucked up the economy, and what was expected, so that could change dramatically if there is gridlock.
Posted by northLAgoomba
Grand Cane, LA
Member since Nov 2009
3979 posts
Posted on 11/13/18 at 6:18 pm to
Oilfield wife livin' that bankruptcy life!
Posted by RummelTiger
Official TD Sauces Club Member
Member since Aug 2004
92837 posts
Posted on 11/13/18 at 6:19 pm to
Who was that cat a few years ago that basically promised oil was going to drop to single digits?

I always chuckle when I think of that...
Posted by Mud_Till_May
Member since Aug 2014
9685 posts
Posted on 11/13/18 at 6:23 pm to
GAS IS CHEAP LETS SELL SOME PRODUCT.
Posted by deltaland
Member since Mar 2011
100249 posts
Posted on 11/13/18 at 6:47 pm to
quote:

Really? Down a whole quarter? That is what? 10% in one of the cheapest areas of the country for gas?


Because the price of a barrel of oil has dropped 25% in that period.

So what exactly are you arguing?




This is a dumb argument because the cost of the oil to refine into gas is only a fraction of the cost of refining. There are other fixed costs not associated with the price of oil.

Therefore a 25% drop in oil prices does not equal a 25% drop in gas prices.
Posted by gthog61
Irving, TX
Member since Nov 2009
71001 posts
Posted on 11/13/18 at 6:49 pm to
quote:

Yeah but gas will still be $2.50 per gallon.



Gas is $2.08 at the QT about a mile from here.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
135701 posts
Posted on 11/13/18 at 6:49 pm to
Yeah, I don't really get all the American outrage over the Saudi's executing a Turkish journalist. Isn't that Turkey's problem?
Posted by deltaland
Member since Mar 2011
100249 posts
Posted on 11/13/18 at 6:50 pm to
quote:

If you’re happy about this you must hate your state


MS doesn’t rely on O&G industry
Posted by Walt OReilly
Poplarville, MS
Member since Oct 2005
124694 posts
Posted on 11/13/18 at 6:50 pm to
I have to use Premium so I’m still paying close to 3 bucks

Damn landrovers
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