Oil just crashed

[Rarely-Wrong Liggins]

The economy vs. lives argument is dated at this point. Neither will be saved. The system will survive though and a new economy built around that, I doubt it'll be anything positive for the average American, a re-creation of the current status quo at best.

The lives........man, this is what we signed up for. The signs have been here for decades now. We were warned about what happens when this system gets out of control. Some of us did the warning. But we just wanted free stuff according to some. Okay, the collapse will happen eventually and you'll really see the value you have to this system. And here we are.

It's horrible that people dying in this manner but really we are doing much better than we have any right to. But it's not so much anything that we did besides the shelter at home orders. I think we've been lucky thus far and luck may strike again. If it doesn't.......well shyt is going to look real ugly for awhile. But American society will make it out on the other side, many of us being among them.

Until then stay safe brehs.

 

[Batsute]

Texas and Oklahoma economy is about to be

Texas will be fine for the most part. It’s a highly diversified market; tech, startups, and healthcare. Not to mentioned a lot of other industries now have 2nd headquarters in Plano.

NorthWest Texas doe where they do a lot of drilling will be hit hard, but the big 4 are good.

 

[CodeBlaMeVi]

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

More so about their purchasing power and keeping inflation down.

 

[mannyrs13]

I'll be the 1st to admit I have no idea what this means

ain't nobody buying oil cuz we ain't really driving anywhere. so the oil producing countries sitting on the supply and the value keeps going down. its like if you manufacture something that thing has value. people buy it from you but when they not buying as much, you cant sell for the same price. the market determines the price of oil and other commodities. more people buying the more the value goes up cuz its a necessity, less people buying the price goes down cuz countries not gonna pay like $50 a barrel when they don't use that much. im sure gas stations are taking a huge hit during this.

this is also why we need to move more towards other alternative energy sources. i been hearing how in places like china and india the air quality has improved due to lack of pollution from the quarantine. I know I heard about LA having real bad smog, dont know if its improved over there too. but other alternative energy resources can help keep that going after this whole pandemic is over. thats if there is an end.

 

[mykey]

 

[gangreen]

Trump's great economy

 

[Wildhundreds]

mopar owners wit the hellcats and demons mount up we bout to ride out

Brehs been laying down the hammer in them things as of lately..

Sounding like Daytona 500 out here..

 

[easymoneysniper]

How does one I visit in oil and buy at these low prices???

Okay so the thing is, and a few people mentioned this, oil for immediate delivery is zero / negative because there’s no place to put. But if you want to buy oil to be delivered in the future, then the prices are very different.

I’m assuming overall the sentiment towards oil is very negative so if you buy oil stocks now, you could pick up from the rebound.

However any gain you make is unrelated largely to zero prices today and more is a reflection that oil will recover at a faster speed than the rest of the market thinks based on how corona virus, saudi russia american oil dialogues take place, how the economy opens up

Smart money is on vested interests in us russia saudi (trump is friends with saudi, so many oil lobbyists in dc etc) pushing prices back up, so its quite a good deal now to load up on oil stocks

Sucks that I don’t have much money, but would be an easy flip

 

[Squirtle]

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)

Thanks

 

[SATAN]

This is a planned strategic move, the government is in on it. They want us to panic. Everything will be fine.

 

[Wiseborn]

Time to buy some oil stock.

 

[ZoeGod]

I'll be the 1st to admit I have no idea what this means

A lot of oil producing countries are about to be broke that includes African and Middle eastern countries. Which means more political/internal instability. A lot of countries gonna collapse because of this if oil doesn’t rise up to at least $75 a barrel. shyt is gonna be spooky the next 2-3 years before oil recovers.

 

[easymoneysniper]

Okay so the thing is, and a few people mentioned this, oil for immediate delivery is zero / negative because there’s no place to put. But if you want to buy oil to be delivered in the future, then the prices are very different.

I’m assuming overall the sentiment towards oil is very negative so if you buy oil stocks now, you could pick up from the rebound.

However any gain you make is unrelated largely to zero prices today and more is a reflection that oil will recover at a faster speed than the rest of the market thinks based on how corona virus, saudi russia american oil dialogues take place, how the economy opens up

Smart money is on vested interests in us russia saudi (trump is friends with saudi, so many oil lobbyists in dc etc) pushing prices back up, so its quite a good deal now to load up on oil stocks

Sucks that I don’t have much money, but would be an easy flip

Okay a very important point here - dont buy into us shale stocks etc, they will get destroyed. no way they can survive because oil ain’t gonna rebound enough to cover their cost

Buy into the majors like exxon bp shell etc - they will survive this and have lobbyists in washington to make sure they pick up

 

[BlackBall]

Time to buy some oil stock.

I’m picking some etf

 

[Malik1time]

does this hurt trump or help him