Corona virus

[JLS]

I absolutely think Putin is trying to take out a lot of US Shale.
I think historically I would say it’s a dumb move because once US oil dies prices will recover and then new companies with move in, but there is now a huge stigma surrounding OG on Wall Street (climate change, environmentally friendly portfolios, OG just not providing good returns) that I don’t know if there will be capital available to bring the industry back.

I think there is at least a possibility that we become an energy importer again.

That was pretty much what I was wondering. Are they viewing this as a prime opportunity to put a dagger in US oil production.

To your point on capital investment, I can see the Republican Party offering very heavy subsidies to prop up the US shale industry.

 

[Sytes]

for now...

It's Saudi Arabia more so than Russia. Russia's trying to keep up w/ Saudi.

Ugly spat in Vienna w/ the largest oil importer (China) slowing significantly over economic strain and travel.

Projected to potentially hit $20 for crude.

 

[Deleted member 28227]

It's Saudi Arabia more so than Russia. Russia's trying to keep up w/ Saudi.

Ugly spat in Vienna w/ the largest oil importer (China) slowing significantly over economic strain and travel.

Projected to potentially hit $20 for crude.

You think spitting in the Saudi’s face wasn’t calculated, dude was KGB.

 

[BigHornRam]

I think it's a desperation move by Putin that won't end well for him. Time will tell.

 

[Jasher]

How did we go from a virus from China to Russian oil?

 

[Deleted member 16014]

The way that social science, hard science, politics, money, etc. all feed off of one another is truly amazing. There really aren't words for it. It's pretty rare for the realities of it all to come to the surface enough that people like me catch a glimpse of it, despite the fact that I know it's going on all the time.

 

[Deleted member 16014]

Fear of the unknown is the root of morbid levity. God forbid we should use our treasure for the common good in lieu of institutionalizing Hatfield vs McCoy gotcha lasts.

If you write a book I will read it.

 

[Deleted member 28227]

How did we go from a virus from China to Russian oil?

The corona virus depressed travel, which caused the price of oil to drop from ~$50 to ~$43, then the Saudis and Russians met to discuss dropping production to sure up pricing given the effects of corona virus. It’s my belief that Putin saw this as a black swan moment to kill US shale and told the Saudis to pound sand, within hours Oil went to ~$31.

General speaking Russia works with OPEC to keep prices stable and we, US Shale blow up everything with unbridled production, this has been pissing off OPEC and Russia for years.

Corona Virus was just a perfect opportunity to strike.

 

[JLS]

How did we go from a virus from China to Russian oil?

This is the cause and effect of a global economy.

 

[Sytes]

You think spitting in the Saudi’s face wasn’t calculated, dude was KGB.

No. Disagree. Saudi and Putin got into a pissing match. Russia bluffed and got caught with their pants down. Russia is now forced to increase output to compete though they're able for a few months before they feel the impact.
Saudi's action, while chit kicking the market amidst an already rough COVID-19 pouncing, is set for specific export to EU and U.S. 4-8$

Putin's action swirled on himself.

 

[Deleted member 28227]

This is the cause and effect of a global economy.

And why I find it irksome that individuals in both parties are trying to politicize the fed. Can we please have some career experts in our gov and not just a bunch of morons with American flag pins in their lapels.

 

[Deleted member 28227]

No. Disagree. Saudi and Putin got into a pissing match. Russia bluffed and got caught with their pants down. Russia is now forced to increase output to compete though they're able for a few months before they feel the impact.
Saudi's action, while chit kicking the market amidst an already rough COVID-19 pouncing, is set for specific export to EU and U.S. 4-8$

Putin's action swirled on himself.

Lol, I read a memo from one of our lenders about Putin doing this 3 weeks ago

People way way smarter than I have anticipate this move for a while now.

 

[BigHornRam]

You think spitting in the Saudi’s face wasn’t calculated, dude was KGB.

Dude is an aging shrimp with a big ego, and running his country into the ground. When the vodka runs out it's all she wrote for Putin.

 

[JLS]

Wish I could prepay for about 1000 gallons of unleaded in May, then use it during hunting season.

 

[Deleted member 28227]

Dude is an aging shrimp with a big ego, and running his country into the ground. When the vodka runs out it's all she wrote for Putin.

Yeah... how’d that whole invade a country without any repocussions thing go for him. I think he is a terrible leader, ie making life better for the citizens of his country, but I think he is masterful in taking down his enemies, and very adept at foreign policy.

 

[Sytes]

Lol, I read a memo from one of our lenders about Putin doing this 3 weeks ago

People way way smarter than I have anticipate this move for a while now.

“I don’t think this was premeditated but Saudi Arabia has clearly swung quickly into action to put the Russians under pressure,” Robin Mills, head of consultancy Qamar, told Arab News. “But the Russians, with low debt and a flexible exchange rate, can cope with a few months of low prices.”

Saudis Start All-Out Oil War With Dramatic Price Cut

Saudi Arabia has announced it will slash its official selling prices for crude by between $4 and $8 per barrel, effectively starting an oil price war

finance.yahoo.com

Fuel will cost less, as you say and I agree... For now, as is the case every opec increased output eventually curbs the flow.

 

[BigHornRam]

And why I find it irksome that individuals in both parties are trying to politicize the fed. Can we please have some career experts THAT AREN'T POLITICALLY MOTIVATED in our gov and not just a bunch of morons with American flag pins in their lapels.

Fixed it for you wllm

 

[BigHornRam]

Yeah... how’d that whole invade a country without any repocussions thing go for him. I think he is a terrible leader, ie making life better for the citizens of his country, but I think he is masterful in taking down his enemies, and very adept at foreign policy.

His citizens are used to living in 3rd world conditions. One of communism's finer points.

 

[Deleted member 28227]

His citizens are used to living in 3rd world conditions. One of communism's finer points.

Which is what I think is concerning about a game of chicken between Russia and Saudi... which dictator is going to blink first.

 

[BigHornRam]

Which is what I think is concerning about a game of chicken between Russia and Saudi... which dictator is going to blink first in this game of chicken.

The one that runs out of vodka.