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Oil tumbled today. Going to $35/brl again. Cheap gas this season. $2.50/gal diesel.
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Dropped $10 today. Currently $30/brl.Originally posted by balljoint View Post
Billions of Chinese not driving has weakened demand. -
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Market expected to drop 1300points at opening. Is this what a crash looks like? Not looking good for people with 401k's and IRA's. So much for the roaring economy. Will this lessen Trump's re-election bid?Comment
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Down 1800 points at opening. Trading halted amidst 7% drop.Comment
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Market terribly over sold. People who take out their money are foolish at this point. Trump will not be hurt by this latest oil fiasco. I can't image anyone switching from Trump to Bite me anyway.
Trump understands Markets and business BTW. He is the guy you want dealing with thisComment
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Exactly, in 30 days the libtards will move on to something else!Originally posted by TS FAN View PostComment
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You and your cohort s got what you’ve been hoping for !!!!!Originally posted by STRONGERTHANDIRT View PostComment
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Exactly, Trump knows how to go thru bankruptcy. The old foreign owned country is going in the s hitter and they can take their $22 trillion debt with them. The republic is being reborn.Originally posted by TS FAN View PostComment
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US had a feb 16th payment deadline we didnt meet. New system on march 30Originally posted by ZERO25 View PostComment
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...and Guyana had elections this week, the little country neighboring Venezuela.
"Guyana, which has a population of less than 800,000, is expected to become a major oil producer in the coming years as a consortium of companies including Exxon Mobil Corp taps into 8 billion barrels of oil and gas off its coast."
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Canadian crude is at 17.87. Country hit hard, they are not as diverse as US. Affects racing.
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This oil price drop is basically a combination of a pissing contest between Saudi Arabia and Russia over cutting oil exports. Saudi Arabia can produce oil cheaper than anyone else on Earth and they wanted to corner up the China market ahead of everyone else, including Russia. Chinese demand for oil is way down due to the coronavirus which has helped create a huge supply and much lower demand than is customary.
The other aspect of the aforementioned combination is Russia's eagerness, through high world wide production, to get oil prices so low that they will cause many smaller companies that produce oil from shale here in the States into financial hardship and/or bankruptcy. The whole thing is working very well in this regard! Smaller shale oil companies will not last long at all with oil prices at these levels. When oil prices go back up Russia will have much less competition from the United States.
So much for the Trumpster and Vlad being a$$hole buddies! LOL!Comment
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