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Time to NYT, WaPo, etc. hinting at Plunge Protection Team in 3, 2, ....
The_Weeping_Ayatollah says
"Few years" are the operative words here: that break-even price is constantly moving and moving down. So it is probably not $50 today.
That's true such as there are realized gains due to economies of scale, learning curve, etc.
That Wall Street Journal (WSJ) article as dated in 2018. The break even point then was around $50 for the major drillers.
So adjust the break even point down 4% each year and it would be around $47 ?
So in retaliation, the Saudis massively boost production? WTF?
″$20 oil in 2020 is coming,” Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures, wrote Sunday on Twitter. “Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc - may prove existential 1-2 punch when paired with COVID19.”
If the media never reported on it, nobody would notice jack shit in their real everyday lives, other than the fairly ordinary flu season.
People wouldn't notice until granny dies waiting in the line at the hospital respiratory/pulmonary services.
Time to NYT, WaPo, etc. hinting at Plunge Protection Team in 3, 2, ....
We keep people alive and miserable today. It's inhumane.
WookieMan saysWe keep people alive and miserable today. It's inhumane.
We'll see what you say when you get there.
NoCoupForYou saysTime to NYT, WaPo, etc. hinting at Plunge Protection Team in 3, 2, ....
What are they gonna do? Buy stocks?
What do you think it would look like in the current political situations?
What else are they gonna do?
Lower rates? (chuckle)
WookieMan saysWe keep people alive and miserable today. It's inhumane.
We'll see what you say when you get there.
MM1 saysI remember a few years back that said oil needed to stay above $50 a barrel for US drillers to be profitable.
"Few years" are the operative words here: that break-even price is constantly moving and moving down. So it is probably not $50 today.
Heraclitusstudent saysWookieMan saysWe keep people alive and miserable today. It's inhumane.
We'll see what you say when you get there.
What does it matter what I say when I get old? I respect life and am certainly not wishing death on anyone. The fact is I am 100% going to die. I don't want to sit there in my own piss and shit with my kids or wife having to take care of me.
I've witnessed this with my own father in the last year. He was delusional and needed care 100% of the time. This went on for 6 months. I wish Corona virus was around and killed him sooner. My own mother has admitted as much. The people this is killing are near death anyway. While I feel for their families, as death is sad, they likely would have already been 6' under as recently as 40 years ago, before this virus existed.
That makes sense to me. Saudi Arabia is ISIS, and they are quite annoyed at the Russians' taking Assad's side against ISIS in Syria. The Saudis/ISIS want to keep murdering "heretical" Shiite and Alawite Muslims as their Wahhabi theology demands.
I've witnessed this with my own father in the last year.
Oil Stocks may be recovering from that plunge. Just bought some Marathon. I missed on Apache, it is already going back up.
She did it, and it ended up partly paralyzing her, and then she died anyway, probably a bit sooner because of the surgery.
But the doctor made $100,000 or so off of Medicare for the surgery.
And Mell I know you invest in this stuff (bio-med, etc), so no hard feelings from my end. I just think it prolongs suffering for the person themselves and the family. Just my opinion and I've always had the opinion of make money where and when you can. Everyone has gotta take care of their family.
And Mell I know you invest in this stuff (bio-med, etc), so no hard feelings from my end. I just think it prolongs suffering for the person themselves and the family. Just my opinion and I've always had the opinion of make money where and when you can. Everyone has gotta take care of their family.
I just wish there was more understanding towards elderly assisted suicide or cases where you're terminal. It's miserable.
WookieMan saysAnd Mell I know you invest in this stuff (bio-med, etc), so no hard feelings from my end. I just think it prolongs suffering for the person themselves and the family. Just my opinion and I've always had the opinion of make money where and when you can. Everyone has gotta take care of their family.
WookieMan,
there are a few new anti-cancer CURES out there which actually cure a person, as opposed to slowly poisoning. This is not my specialty, but a few friends of mine work in this - now they can cure almost half of even 4th stage skin cancers, and a substantial number of kidney cancers. This is real progress, and in another 10-20 yrs perhaps most cancers will be curable.
https://www.cancer.gov/about-cancer/treatment/types/immunotherapy
You certainly could have bought at a worse time (like last week!) but maybe the best time will be when the covid deaths finally start declining globally.
Of course Wall Street will have that information first, but it still could be a very good time to buy when we turn the corner.
Patrick saysYou certainly could have bought at a worse time (like last week!) but maybe the best time will be when the covid deaths finally start declining globally.
Of course Wall Street will have that information first, but it still could be a very good time to buy when we turn the corner.
They are starting to close schools/universities/cancel mass activities. May get worse, if not in reality, then in heads of population.
Well universities are not vital for the stock market, esp. not todays ;)
WookieMan saysI've witnessed this with my own father in the last year.
Similar with my mother. She had a 100% fatal brain tumor (glioblastoma) and was offered brain surgery that had a slim chance of extending her life for a few months.
She did it, and it ended up partly paralyzing her, and then she died anyway, probably a bit sooner because of the surgery.
But the doctor made $100,000 or so off of Medicare for the surgery.
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Can't really figure out what is going on with oil. From earlier reading, it seems that the Saudis wanted Russia to cut production to keep prices high, but the Russians refused.
So in retaliation, the Saudis massively boost production? WTF?
Maybe this is an attempt by the Saudis to put Russian producers out of business. It's certainly going to kill the US fracking industry, which cannot profitably extract oil at these prices.
And why would cheap oil be bad for the stock market? Seems like it would be good for everyone except Exxon.
Does this have implications for the dollar and US foreign policy? What exactly is likely to happen?