Posted on 03/09/2020 8:40:09 AM PDT by Hojczyk
There trying to get Russia and Iran to cut production...and get the price up..
Saudia Arabia needs the high price to keep the country going..
Yeah. The pressure on the petrodollar is very worrying.
Once that ends, the game is up.
It needs to be $60 or fracking disappears. What am I missing?
Russia needs oil high as well. They are getting pummeled by this.
On the bright side oil at this price will make the green energy sector disappear. No need for windmills, solar panels or a Tesla.
The world oil producers will soon limit production, believe be, this is as much an over supply issue as it is based on a perceived economic slowdown.
$1.30 per gallon sounds good to me
Funny how China and Iran are getting beat up with the disease, and Russia is getting creamed with the oil. And North Korea is pretty much silent (short of a few missiles.)
Its as if all of the enemies of the US were taken out at the same time.
Funny how these things happen.
I went long on some XOP calls this morning for the 19 June and 18 Sep contracts. They were dirt cheap and I figure - eventually - I will make a small fortune off of them. If XOP falls this week I plan on adding to them.
But it is devastating to parts of the economy - especially here in Texas.
Texas economy is much more diversified than it was in the 80s.
I’ve thought the same thing for about a week.
Now if only we’d start making our OWN antibiotics again I’d breathe a great sigh of relief!
This where import tariffs must be imposed immediately. We must protect our domestic producers. This is in effect predatory pricing and its highly illegal here in the states. I dont give a crap if the supposed fight is true or not and for the record I dont believe this BS. Slap a tariff on oil imports IMMEDIATELY! This is being done as as attack on our domestic producers. Its time to put SA out of business.
Counting how long it takes until a commentator mentions the word “Recession.” After that, the media will lead with “the world recession.”
Rigs get stacked. They’re spun up again if oil goes up.
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