Posted on 04/20/2020 10:42:36 AM PDT by ConservativeInPA
WTI is now negative $35.20. Bankrupt oil producers will be hell on the economy. This has everything to do with a bunch of pussies being afraid to exercise their freedoms and listening to deep starters to shut down the economy over a pansy-ass flu.
Cap, baby cap
Actually, I think there is a lot of truth to that. When someone is doing things that make no sense, it means they may be doing it for reasons that are not apparently obvious.
Sheesh Louise. They’ll pay you $37 a barrel to take it right now, as I post. Who knows where it will go. Would more than cover the cost of leasing a tanker. Obviously no tankers available.
You don’t have to buy crude. They’ll pay you about $1 a gallon just to take it off their hands.
Like you said....clearly China is not back online.
Where are the reports on ^^ THAT ^^ ??
According to your simple logic, we should outsource the production of US Submarines to China, so that we can save 30% a copy.
Because your sole criteria of value is price.
Which makes you a Free Traitor. So wear that moniker proudly instead of now trying to obfuscate the fact.
I estimated that out of all of my huge family and friends and everyone they know...that there’s about 1,500 people.
No one I know has it or knows someone who has it.
and i’m on staten island at ground zero
Start digging.
Now is better than later.
you’re right but a lot of highly leveraged small and mid caps are goners.
junk junk junk bonds
My summer drive across the country would be easier if the
gas stations paid me to fill-up instead of other way around
This is bad, really really bad. People who are only worried about their gas tank have no understanding of just how important the energy market and supporting industries are to our economy.
Who is John Galt?
That sounds like an Environmental Leftist wet dream.
So why wouldn’t the Democrats want that? The Environmentalist crazies are a major constituency/bankroller for the party.
“What the feds need to do is set a “Floor Price”, maybe $50/barrel, and tax all imported oil at whatever rate it takes to bring the cost up to $50/barrel. So if imported oil is $10/barrel, then the tax would be $40. If imported is $45, then the tax is $5.”
Exactly. Those who say this is anti-free market have nothing to say about OPEC, an open price fixing cartel. Your answer is a perfect way to fight the cartel price-fixing group that would be illegal if a group of American companies engaged in it.
Not just end fracking. They want to end use of carbon, and they are 90% of the way there - at least for now. Airlines flew more people in a single day last year than they will fly all month. Fewer cars on the road. They want universal basic income - at least for now, they have it. They want to take away the franchise, which is why they want to keep the lockdown for 18 months and vote by mail and stop the debates. They want the HQC to fail.
The ironic thing is that the only people really taking a paycheck are government employees. They need tax money to pay them, but nobody will be paying taxes (not exactly nobody but you get my point). They will blow up the budget and double the debt in a single year, and try to justify all kinds of federal intervention. The cities and states will cry for bailouts - IL pension funds are already asking for tens of billions.
The only mitigating thing is that there is no real fear of inflation. Though, I went to KFC and they were charging $30 for an 8-pc bucket. I am not sure what that really portends. Is it because they have such fixed overhead they are jacking prices? Supply constraints? It could be ominous.
Most of the loans that my company has are with Wells Fargo.
No, this is not Saudi Arabia with no choice but to produce this amount. It is a deliberate max effort to produce all they can to attack US and Russian producers.
They are attacking our economy and we should hit the Saudi royal family hard. Remind them that if we withdraw our protection, their party is over.
In a desperate attempt to get Trump they’ve succeeded in destroying the American economy. Nice job, Democrats!
In a desperate attempt to get Trump they’ve succeeded in destroying the American economy. Nice job, Democrats!
= = = =
Why would POTUS go along with and allow Dems to do this?
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