Posted on 12/06/2018 8:20:24 AM PST by con-surf-ative
US President Donald Trump fired another shot across OPEC’s bow on Wednesday, a day before the oil cartel is set to meet in Vienna to discuss possible production cuts.
“The World does not want to see, or need, higher oil prices!” the Tweet read, in part.
(Excerpt) Read more at oilprice.com ...
Many on this board do not understand or have forgotten that expensive oil is the lifeblood of the terrorists. Without the excess gains from expensive oil, they cannot build the training camps (mosques) and fund the weapons of warfare.
There is a reason for the tweet.
Many on this board do not understand or have forgotten that expensive oil is the lifeblood of the terrorists. Without the excess gains from expensive oil, they cannot build the training camps (mosques) and fund the weapons of warfare.
There is a reason for the tweet.
Trump seems hell-bent on destroying the economy?
You are arguing for higher oil prices.
OK. (Cra-cra)
I can see a significant boost to everybody’s standard of living, if or when, fusion power is ever achieved.
And maybe withing our lifetimes.
Own some oil wells do you?
You certainly sound like a Money grubber as opposed to what’s best for the entire economy. It has been proven over nd over again that low oil prices spur the economy.
Here’s a thought: opec jacking up prices too much trump will support the anti opec antitrust bill in Congress.
Agree completely. Man is economically naive, and that is being incredibly generous. Higher energy prices effect an increase in every step of the process of adding value to every product and service.
Rooting for higher oil prices is like praying for gasoline to rain down on a forest fire.
Canadian Shale, per BBL, at cost is $12. WTI could fall to $19/BBL and they’d still be fine.
$1.82 in San Antonio
>>>Yet the current low gas prices have not shut down the shale industry.
There is about a 9 week lag between WTI price and rig counts. If history holds, rig counts will be flat to up slightly this week and then drop considerably over the next two months.
Despite the appearance(s), I don’t think these tweets are primarily for OPEC / the Saudis.
$3.05 in Everett. $3.30 in Seattle.
We’ve got a massive gas tax in WA state.
FWIW, I don’t think they are, either. :-)
Dont forget the Russkis. less money for weapons and raising mischief around the world
A guy named Adam used to he term “invisible hand” to describe the overall effect of markets. Smart guy.
Actually, I’m wondering about Iran. :-)
Totally agree. Oil prices are way too high based almost all on market speculation. Take oil out of commodities and the price would decrease considerably. Or require that oil buyers take physical possession would make speculators more hesitant to bid up the price lest they be stuck in possession of a lot of over priced goods.
If OPEC could act in concert, losing billions, to smother US commercial production, it would raise prices. As it is, they are a one horse show, they need to sell more at lower price to keep solvent. The US has a deep economy, we can deal with lower oil prices.
Would be nice - we’re in our late ‘60s so they better hurry if we are to reap the benefits for any length of time....as it is, we planned well enough to be able to live decently w/o going bust...unless we live into our late 90’s.
The shale oil will still be there, after the OPEC oil fields are depleted. Be glad of that.
Man, that is a spectacular idea. Force the buyer to take physical ownership, and just on that commodity.
It would permanently lower the price of spot oil, while simultaneously allowing the trading of futures contracts on oil.
Ownership starts when the oil leaves the facility by pipeline or conveyance.
It would help restore the correlation between government inflation figures and actual real price data.
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