Posted on 03/16/2020 2:57:36 PM PDT by bananaman22
Of course we will....
Yea, and if it drops below $25 a barrel, expect another shooting war to start someplace.
Someday we’ll say, “Remember the global warming scam?”...
There’s never been an oil crash before, just like there was never an oil boom before the previous one.
*sigh*
“funny how russia and saudi pick this time to have a price war on oil.”
I suspect the intention of the
Saudis is to hurt Iran. The Iranian regime was already in terrible shape. They were already deeply discounting their oil to China. Russia is just the excuse.
Would not be surprised if there was another missile strike against SA by Iran, possibly with Russian clandestine support.
SA can’t keep this up for long as it hurts them as well.
bkmk
Maybe this is where we should do a bail out, have the government step in and buy gas at wholesale production cost as long as it is of US Origin. Sell it for the price of the fed taxes plus the cost of the oil. We can’t afford to loose refining capacity and we want the refiners to switch to US Sources.
I was quoted $1.83 gal for my boat today. Cheapest diesel price I’ve seen in years.
Wow - even in S. MS it hasn’t cracked the $1.80 barrier - yet....but I did pay $2.16 for premium last week.
Saw some $1.83 signs yesterday - may see some lower today - if I don’t get arrested fro driving my car in public....
The enemy of America Saudi Arabia did it. They only attack us every 10 or 20 years or so. But so many people here love the Saudi’s. That feudal monarchy Christian hating throwback. The best thing that could happen is that we seize their oil. They couldnt lift a finger to stop us with their worthless military.
Sometimes I think it would be nice if someone overthrew the king and installed an extremely radical government. We could have the justification to invade and take over. Since apparently we can’t do that because now they pretend Saudis are such wonderful friends
But the fracking/oil companies received loans from financial institutions at price X. The oil price now is X minus $40/barrel. If companies did not lock in their prices in the short term they are going to hurt. If the prices stay this cheap for the long term, companies will stop drilling.
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