Oil is going to get wacky on Monday...

HoustonHusky

Saudis and Russia fighting. Expected to open ~25% lower.

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war?srnd=premium

Expect some bloodied shale oil companies...

MikeDamone

Sounds worse than peak oil

CuntWaffle

Didn’t we run out of oil already?

PurpleThrobber

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

PurpleThrobber

CuntWaffle said:

Didn’t we run out of oil already?

The Throbber has run out of baby oil once or twice. Not good.

HoustonHusky

PurpleThrobber said:

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

Saudis budgeted based on $65 crude. Russians based on $45 and they have a rainy day fund. Saudi’s cost to produce is a lot less though which is why they are like ‘fuck it...crash it then until you come back to the table’.

Russia started this with OPEC+...they are pissed about Nord2 and trying to fuck with us (shale). Actual election interference...

WestlinnDuck

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

MikeDamone

WestlinnDuck said:

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

We can't drill our way to lower oil prices.

WestlinnDuck

Really all you need to know about leftards. The law of supply and demand is as inflexible as the law of gravity. But leftards believe in magic unicorn farts and fairy dust. You just need to spend tens of thousands of dollars on tuition at an exclusive private college and then learn the "new" economics that will power the nude green eel.

Sledog

I thought shale production was shut down already, price to low?

Cheap oil is good and better if it Congress from overseas! Save ours.

PurpleThrobber

HoustonHusky said:

PurpleThrobber said:

Oil down, gold up.

Saudis can go to like $4/bbl and still be solvent.

Squeeze Putin’s nuts

Saudis budgeted based on $65 crude. Russians based on $45 and they have a rainy day fund. Saudi’s cost to produce is a lot less though which is why they are like ‘fuck it...crash it then until you come back to the table’.

Russia started this with OPEC+...they are pissed about Nord2 and trying to fuck with us (shale). Actual election interference...

Yes. They budgeted but I’m talking strictly cost of production. The Saudis have virtually zip. Their CAPEX expenditures were years ago paid off. Putin has to keep his oil ponzi going at a higher BEP.

Or he is fucked.

Squeeze the balls.

WestlinnDuck

But all the so-called smart people are telling me that Putin prefers Trump who loves fracking over some dem green gaia religionist that promises to shut down fracking and jail US oil executives.

Pitchfork51

Because the Saudis and Putin love the guy who helped make the us the biggest oil importer


Fuckin baze

YellowSnow

WestlinnDuck said:

But all the so-called smart people are telling me that Putin prefers Trump who loves fracking over some dem green gaia religionist that promises to shut down fracking and jail US oil executives.

I don’t think Putin cares who wins. The ruskies just want to sow discord and make us look bad. But it doesn’t get much more pro Putin than the GND.

WestlinnDuck

Actually, I think Putin does care who wins and was happy to provide a bunch of fake sh*t to Steele, who was happy to give the fake sh*t to the dems and the MSM and the FBI, DOJ and the intelligence agencies who were happy to open a fake sh*t investigation of Trump to damage him and the republicans. I think Putin thought that PIPS would win and was happy to sow discord. When PIPS lost, the leftards went ape sh*t and were happy to pull for Putin and root for the away team. You don't think the chicoms would love to deal with pro-chicom Biden? Once a Biden is bought, he stays bought.

topdawgnc

MikeDamone said:

WestlinnDuck said:

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

We can't drill our way to lower oil prices.

Apparently the Saudi's can.

MikeDamone

topdawgnc said:

MikeDamone said:

WestlinnDuck said:

It's obvious we need to ban fracking and get oil back to $130 a barrel and phu*ck over the American working man and stuff the pockets of Putin and the Saudis.

We can't drill our way to lower oil prices.

Apparently the Saudi's can.

So did we. Despite Obama’s declaration.

HoustonHusky

One other conspiracy take on it...with Iran economy a wreck and Coronavirus running rampant there the Saudis are trying this in an effort to tip over the govt there.

Not sure I buy that one, but this is going to make life rough on them, esp with their main benefactors in Russia and China also impacted with events.

PurpleThrobber

HoustonHusky said:

One other conspiracy take on it...with Iran economy a wreck and Coronavirus running rampant there the Saudis are trying this in an effort to tip over the govt there.

Not sure I buy that one, but this is going to make life rough on them, esp with their main benefactors in Russia and China also impacted with events.

I don't think that's a conspiracy theory. That's a given strategy.

Now, the conspiracy question is whether US money is behind that Putin ball squeeze operation.

Pitchfork51

I think Putin is old and desperate and worried about being usurped.

HoustonHusky

Putin is a lot of bad things, but he’s been financially sound with Russia. I guess if you have Aspergers and are nailing a 20-some Russian ballerina you don’t feel the need to spend like a rapper like most dictators and Middle Eastern nutjobs do...