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re: Saudis declare price war
Posted on 3/7/20 at 8:13 pm to Jim Rockford
Posted on 3/7/20 at 8:13 pm to Jim Rockford
Slashing prices and increasing output right when global demand is dropping off a cliff due to Coronavirus? This is going to backfire on them bigly. Russia and USA finna become allies to take them out.
This post was edited on 3/7/20 at 8:15 pm
2
Posted on 3/7/20 at 8:15 pm to Jim Rockford
Companies already scared like cats to start projects this ain't exactly gonna ease that worry. Not much good news out from my side of things so far this year
Posted on 3/7/20 at 8:20 pm to Jim Rockford
I am good with prices of goods going down.
Posted on 3/7/20 at 8:21 pm to Jim Rockford
So much freedom is about to get applied to Saudi
Posted on 3/7/20 at 8:34 pm to Dr RC
Why don’t we stop selling them weapons. See how they like their odds after that.
Posted on 3/7/20 at 8:45 pm to OleWarSkuleAlum
Texas says hello
Posted on 3/7/20 at 8:49 pm to armsdealer
They are going to try and kill the shale oil play.
Get ready for the Dow to crash.
Get ready for the Dow to crash.
Posted on 3/7/20 at 8:57 pm to Jim Rockford
Good
Posted on 3/7/20 at 9:06 pm to Jim Rockford
The Saudis can’t do shite. And it’s killing them. They’re pissed at the Rooskies cause Russia rejected their plan. So they’re trying to sell at a loss to wreck the market. But the Saudis can’t do that- long term- cause they’ve promised too much to Saudi citizens. This is gonna backfire bigger than downshifting a VW Rabbit.
JODY is gonna have to tighten his belt for the next 3-6 months. Then he’ll be back to balling and annoying all the cucks who racked up $100K getting a college degree.
JODY is gonna have to tighten his belt for the next 3-6 months. Then he’ll be back to balling and annoying all the cucks who racked up $100K getting a college degree.
Posted on 3/7/20 at 9:10 pm to tigerinthebueche
Oil has been down for years. I read an article that they could produce oil at 10 dollars a barrell
Posted on 3/7/20 at 9:12 pm to tigerinthebueche
It will be longer than 3-6 months. All of 2020 will be a struggle for US O&G then 2021 will see companies who hedged natural gas prices take a hit. XOM for instance has cancelled their entire Canadian O&G budget for 2020. Expect to see more US O&G companies go under in 2020.
This post was edited on 3/7/20 at 9:31 pm
Posted on 3/7/20 at 9:19 pm to redstick13
Correct. Didn’t think I’d see a another 2016 again so quickly.
Posted on 3/7/20 at 9:20 pm to redstick13
No it won’t. I firmly believe when certain players decide its time to get back to making money, they will. Will we see attrition in the field? Absolutely. We always do. But when the desired “ Market correction” takes place, it will be great for the survivors.
Meanwhile, we can all enjoy cheap gas and lots of it.
Meanwhile, we can all enjoy cheap gas and lots of it.
Posted on 3/7/20 at 9:23 pm to tigerinthebueche
quote:
Meanwhile, we can all enjoy cheap gas and lots of it.
Time to go get that new tundra.
Posted on 3/7/20 at 9:27 pm to AU4real35
quote:
Time to go get that new tundra.
Well yeah. Given Tundras get shitty mileage!!
Posted on 3/7/20 at 9:58 pm to tigerinthebueche
quote:
Well yeah. Given Tundras get shitty mileage!!
I’ll take the bad gas mileage tundra over any truck on the road.
Posted on 3/7/20 at 10:07 pm to Jim Rockford
Cheap energy is a net good thing. We will still refine it. In fact, there may be more opportunities to build refineries due to really cheap oil.
This post was edited on 3/7/20 at 10:21 pm
Posted on 3/7/20 at 10:10 pm to tigerinthebueche
The Russians have also been buying shut down plants in the Caribbean for their storage facilities to try to play the futures game
Posted on 3/7/20 at 10:32 pm to SuperSaint
I hope yall commented without reading the article because if yall read it and didn't understand they are slashing prices.. Then yall have some serious comprehension problems.
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