Oil just crashed

Hawaiian Punch

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The I in Team
Brehs who are :yeshrug: or brave enough to admit they have no idea what this means are lowkey exposing their complete economic illiteracy. Suddenly it makes sense that certain incredibly dumb ideas are popular here.


I disagree. No one could have predicted what happened today with oil prices. The true ramifications of all of this is still unknown, especially what it means to US shale productions and Saudi/US relations. Rather then sit on some ivory tower and act holier than thou maybe it would be worthwhile to actually educate the masses.
 

newworldafro

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-$37/barrel :mindblown: what does that even mean?

GrouchyFoolhardyFly-size_restricted.gif



Obligatory




#Houston we have a problem?

Texas and Oklahoma economy is about to be

:picard:

Don't forget Lil Weezy Ana .. Louisiana
 
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Stir Fry

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Respect the good & understand the bad
-$37/barrel :mindblown: what does that even mean?

GrouchyFoolhardyFly-size_restricted.gif



Obligatory




#Houston we have a problem?



US suppliers bought more than they could store, so now they have to pay people to take it off their hands from what I've made of it. Plus it will cost the producers more to shut down their operations temporarily than to just keep their rigs running, so now there's no where for it to go (in the US at least)
 

easymoneysniper

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Explain this like I'm 5 it's the end of the world when oil prices are low, but when they are high and gas is $3.50 a gallon that's somehow "good" for the economy?

Low oil prices are bad for the 1% (and climate change) but it sure as hell ain’t bad for us.

The game stacked against us - all these rich mofos want to open the economy, put all our lives at risk while i BET you they staying at home with triple masks on

Yes we need the economy for certain chit like food, shelter, clothing, energy, etc but we certainly do not need to be in a consumption society driven by debt
 
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