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re: Saudis declare price war
Posted on 3/7/20 at 7:42 pm to Jim Rockford
Posted on 3/7/20 at 7:42 pm to Jim Rockford
quote:
In total energy consumption, the US was between 86% and 91% self-sufficient in 2016.
quote:
The largest sources of U.S. imported oil were: Canada (40%), Saudi Arabia (11%), Venezuela (9%), Mexico (8%), and Colombia (4%).
Have no expertise of what’s going on but did some quick research on google and am wondering why this “price war” is worth any panic? Seems like we’ll be fine.
2
Posted on 3/7/20 at 7:44 pm to danilo
Saudis trying to put big oil out of business. They know a recession is coming and it's time to destroy their competitors
This post was edited on 3/7/20 at 7:50 pm
Posted on 3/7/20 at 7:45 pm to Jim Rockford
I guess the rumors of the crown prince dying are true
Posted on 3/7/20 at 7:49 pm to Roll Tide Ravens
quote:
They aren’t happy about oil prices going down in response to Coronavirus
Posted on 3/7/20 at 7:52 pm to Jim Rockford
1.25 gas please!
Posted on 3/7/20 at 7:52 pm to NotoriousFSU
Just because we aren't importing their oil right now doesnt mean much if they drive the price down. Lower prices means at some point it is cheaper to buy from them vs drilling our own oil. Not hard to figure out. Production will slow here and unprofitable sites will be closed = Louisiana people out of work.
This post was edited on 3/7/20 at 7:54 pm
Posted on 3/7/20 at 7:52 pm to jamboybarry
quote:
If by saved you mean took out a 72 month note on a side by side and stuffed the rest in a strippers arse crack then yes you are correct
Posted on 3/7/20 at 7:54 pm to stout
The banks hold tons of energy stock too. The fed will be priming the markets some more next week I suppose. Who knows if it will work.
Posted on 3/7/20 at 7:56 pm to Jim Rockford
Why are so many of y’all getting joy people will lose their jobs?
Posted on 3/7/20 at 7:56 pm to stout
Saudis can still make a profit with oil prices in the twenties. The US needs $35 plus or it's not economical to drill and complete. Especially to complete. Frac costs are still very high.
Posted on 3/7/20 at 7:57 pm to fallguy_1978
quote:
The banks hold tons of energy stock too. The fed will be priming the markets some more next week I suppose. Who knows if it will work.
Pioneer was the latest company to file Chapter 11 this week.
Posted on 3/7/20 at 7:57 pm to Walt OReilly
quote:
Why are so many of y’all getting joy people will lose their jobs?
Because my gas will be lower :)
Posted on 3/7/20 at 7:58 pm to fallguy_1978
quote:
The fed will be priming the markets some more next week I suppose
They're running out of ammo. Getting close to 0% interest
Posted on 3/7/20 at 7:59 pm to Jim Rockford
reduced prices put more pressure on Russia and Iran...
Posted on 3/7/20 at 8:00 pm to Jim Rockford
Well shite
Posted on 3/7/20 at 8:04 pm to Jim Rockford
This will somehow cause crawfish prices to go up.
Posted on 3/7/20 at 8:04 pm to Jim Rockford
quote:
They're running out of ammo. Getting close to 0% interest
I think interest rates might go negative. The global economy is nothing but a house of cards.
Posted on 3/7/20 at 8:06 pm to Jim Rockford
quote:
They're running out of ammo. Getting close to 0% interest
Bailouts coming soon?
Posted on 3/7/20 at 8:08 pm to fallguy_1978
Nah I don't think they go that far.
Posted on 3/7/20 at 8:10 pm to olgoi khorkhoi
Damn oil already at 41 dollars. Wonder how low it goes now? Might get to the 20s
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