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US Oil Market Crashes
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 US Oil Market Crashes
April 20, 2020 at 4:32 pm
(This post was last modified: April 20, 2020 at 4:33 pm by BrianSoddingBoru4.)
The US market price for light crude is now -$35/barrel. This is clearly the time to buy. If you buy ten barrels of oil, you get the oil PLUS $350.
That’s how it works, right?  Boru
‘I can’t be having with this.’ - Esmeralda Weatherwax
 
I know the world cant get off fossil fuels in a day, but the truth is science has known as early as the 1890s that burning too much greenhouse gasses/CO2 will damage the planet.
I hope our species isn't beyond the point of no return. But the fossil full industry CEOs and shareholders are not going to give up without a fight. I could care less if a barrel of crude was a penny, it will cost far more to ignore the global warming burning fossil fuels in the future if we continue to ignore the damage it is causing. 
Shareholders will shift their investment wherever the best return on investment is.
Quote:I don't understand why you'd come to a discussion forum, and then proceed to reap from visibility any voice that disagrees with you. If you're going to do that, why not just sit in front of a mirror and pat yourself on the back continuously?-Esquilax Evolution - Adapt or be eaten. (April 20, 2020 at 4:58 pm)Mr Greene Wrote: Shareholders will shift their investment wherever the best return on investment is. Which is likely to bankrupt the petroleum industry (or at least large parts of it). That would be bad. Boru
‘I can’t be having with this.’ - Esmeralda Weatherwax
It is what it is, you'd then get calls for nationalization.
That might produce a rather dramatic change in the American outlook if it actually came to pass. Quote:I don't understand why you'd come to a discussion forum, and then proceed to reap from visibility any voice that disagrees with you. If you're going to do that, why not just sit in front of a mirror and pat yourself on the back continuously?-Esquilax Evolution - Adapt or be eaten. 
I'm sure that the oil industry has made enough money that they will feel ashamed when they hold out their hands to the gov for some "spare change". /sarc
If you get to thinking you’re a person of some influence, try ordering somebody else’s dog around.
 (April 20, 2020 at 5:38 pm)Mr Greene Wrote: It is what it is, you'd then get calls for nationalization. What about GM? How many bloody times are THEY going to be nationalized? *looks at his watch* Shit, the US is almost ready for another war. It's the Saudi's turn. Or maybe Iran. Or Nth Korea? anyone really.
No God, No fear.
Know God, Know fear.  (April 20, 2020 at 4:46 pm)Brian37 Wrote: I know the world cant get off fossil fuels in a day, but the truth is science has known as early as the 1890s that burning too much greenhouse gasses/CO2 will damage the planet. You "know"? Really... Is your degree in mechanical engineering? You have a doctorate in thermodynamics? How exactly did you come by this "knowledge"? And tell us how you are going to harness the terrawatts of power we need for a medium sized US city.... Then tell us where the rest of the planet is going to get theirs..... Your "knowledge" you are pontificating smells suspiciously like an ill formed opinion in my book.. I'm betting "just think happy thoughts" has a great deal to do with your "knowledge".
War will almost certainly follow, Nations are going to be piling on the debt right now, and will become desperate when payment is due.
The US and/or Europe might well get pulled in but economic stress will likely be the best indicator of where it will break out. Quote:I don't understand why you'd come to a discussion forum, and then proceed to reap from visibility any voice that disagrees with you. If you're going to do that, why not just sit in front of a mirror and pat yourself on the back continuously?-Esquilax Evolution - Adapt or be eaten. |
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