RE: BREAKING: Oil crashes by most since 1991 as Saudi Arabia launches price war
April 22, 2020 at 9:34 am
(This post was last modified: April 22, 2020 at 9:48 am by The Grand Nudger.)
The contents of your skull are more an explicit threat than implicit... to humanity, if you're asking me.
Gold....gold...? Jesus christ man. Now you're referring to mysterious ghost oil that no one reports. It's just a consequence of history that the persian gulf's value through oil has decreased as other countries, notably big oil consumers like us, ramp up their own production. I get that it's a great story, and that it most definitely does accurately describe the last half of the last century - but we've found a fun new way to fuck over our proxies in the region, is all.
This is an existential dilemma for the countries being exploited as organized. Consider the current predicament. Hoping to stop the bleeding, two petro-states engaged in a price war with the intended aim of bankrupting the producers who had eroded their market share. This has the effect of reducing the value of a cheif export, which does not benefit the citizens of those petro-states in any way unless the scheme goes all the way to the finish line - and since they're petro-states, most likely wouldn't benefit them, if it did. A finish line that seems a little more than improbable given the country involved. We here in the us believe in socialism for corporate people, and rugged individualism for the poor. Meanwhile, the clock is ticking for the citizens of those petro-states. Under the thumb of oppressive regimes at home, losing their perceived clout abroad, watching their resources effectively evaporate, as the consuming world makes a slow but inexorable turn away from oil.
When the price of oil goes negative, what should immediately come to mind isn't "The great satan will fall!" - because it won't. You should wonder what you're going to eat when the oil spigot stops printing money for you - cold hard USD.
Your countries provide us with a cautionary tale about our own petro-state ambitions. Thank you for your service.
Gold....gold...? Jesus christ man. Now you're referring to mysterious ghost oil that no one reports. It's just a consequence of history that the persian gulf's value through oil has decreased as other countries, notably big oil consumers like us, ramp up their own production. I get that it's a great story, and that it most definitely does accurately describe the last half of the last century - but we've found a fun new way to fuck over our proxies in the region, is all.
This is an existential dilemma for the countries being exploited as organized. Consider the current predicament. Hoping to stop the bleeding, two petro-states engaged in a price war with the intended aim of bankrupting the producers who had eroded their market share. This has the effect of reducing the value of a cheif export, which does not benefit the citizens of those petro-states in any way unless the scheme goes all the way to the finish line - and since they're petro-states, most likely wouldn't benefit them, if it did. A finish line that seems a little more than improbable given the country involved. We here in the us believe in socialism for corporate people, and rugged individualism for the poor. Meanwhile, the clock is ticking for the citizens of those petro-states. Under the thumb of oppressive regimes at home, losing their perceived clout abroad, watching their resources effectively evaporate, as the consuming world makes a slow but inexorable turn away from oil.
When the price of oil goes negative, what should immediately come to mind isn't "The great satan will fall!" - because it won't. You should wonder what you're going to eat when the oil spigot stops printing money for you - cold hard USD.
Your countries provide us with a cautionary tale about our own petro-state ambitions. Thank you for your service.
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