Oil down 30% on futures due to Saudi signaling their desire to enter a price war.
Gas could be at $1.75 a gallon or lower soon
Gas could be at $1.75 a gallon or lower soon
OPEC price war
- Thread starter UCFKnight85
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If you're investing in a 401k there are no worries. You dollar cost average anyway. I sold most of my individual brokerage account about a month ago. Thank god
I knew this was coming. The Saudis are desperate now that we are off the tit. Peter Zeihan predicted it. They are willing to lose money to put ours/Canada oil production out of business.
Offshore oil drilling becomes non profitable near these levels. Chevron, Exxon, and those companies will be fine. The consumers win big time. Almost another tax break coming and the lower mortgage rates too.
Yes but this is mostly a Fuk You to Putin and the Russians.
You shouldn't have significant market exposure as you near retirement age anyway. If you do it's because you got greedy.
I was in L.A. last week for a conference and El-Erian gave the opening keynote. Holy shit that guy is bright. Very interesting perspectives on Coronavirus, etc. I immediately followed him on Twitter and will consume his books post-haste.
Nebraska. 1.799, 87 bulk price. Retail is still over 2 bucks but it'll come down this afternoon.
OK so never mind on the cliffs. That tells me all I need to know
I shouldn't have said "interesting perspectives on Coronavirus". Instead, I should've said interesting perspectives on the domestic and world economies as a result of Coronavirus. He referred to the impact as an economic sudden stop and he speculated that this ESS may result in the disintegration of the world banks. Believe it or not, I took copious notes on the conference app and then proceeded to delete the app yesterday before copying everything. As soon as I pressed the screen to confirm deletion I realized what I'd done. I swear I realized it as my finger was moving toward the screen, but by then it was too late. I don't usually take notes like that, but he was so intriguing that I couldn't stop tapping away.
He also talked about the number of refinancings going on right now and he advised everyone that we likely haven't hit bottom yet. He talked about the failed policy of negative interest rates and said the writing is on the wall for recessions in Germany, Portugal, Italy, etc.
He injected a lot of humor which, for a guy of that caliber (of smarts) is often tough to do. I really, really enjoyed and appreciated his style. Note that the conference I was at was for the Pension Real Estate Association (PREA), so his message was tailored a little toward us, the audience. I'll say this: the keynote that evening was James Cordon and Will Ferrell, and although they were great, I'd choose to listen to El-Erian 100 times again.
Putin and Saudis will let it go long enough to **** the frackers and the banks.
This is why we should just get onto more renewables so we aren't at the whims of nutjobs except for our own nutjobs.
Putin is absolutely not on board with this. He needs oil prices to be in the 50s just to maintain their federal budget.
A friend of mine owns gas stations in central minnesota and he just bought wholesale at 1.74. Retail is at 1.98 so they're actually making money on it.
Except fracking is much cheaper than it used to be so the hedge is now in the mid 40s instead of the upper 90s like it once was. Nobody will go bankrupt because of a 2 month shutdown.
You don't seem to realize that Russia's economy runs largely dependent on oil exports. Ours does not.
Isn't this happening already today? More electric vehicles, solar powered homes, etc. It needs to get more cost effective to go to the next level.
A win for America when gas is cheap and a win for America when gas is expensive. Trump can't make up his mind.
Stabilizes at $15 per barrel is more important? Not if you want to stay in business
If it was stable at $15 we wouldn't need them to stay in business.Stabilizes at $15 per barrel is more important? Not if you want to stay in business
