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Fuck Exxon they can rot in hell.

By Tenpoundbass follow Tenpoundbass   2020 Jul 31, 9:57am 180 views   9 comments   watch   nsfw   quote   share    


Looking over my list of things I give a crap about.
Nope not on it!
Oil has no business over $30 a barrel and history keeps proving it again and again, every time they artificially inflate it.

Bush made the industry and the foolish 401K armchair warrior day traders think they are entitled to $150 a barrel Oil and States got thirsty for $5.00 a gallon gas.
Bush drove up consumer prices with his politicized Oil commodities, and they claimed it was to offset the costs of energy. But the price of consumer goods has never gone down since then to commiserate with the cost of energy going down.

I hope Exxon goes belly up, and everyone betting our energy future is sent to the poor house, like the idiots that fueled the housing bubble.


https://www.breitbart.com/news/exxon-lost-1b-in-second-quarter-as-oil-use-dries-up/

Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown and the need for oil diminished around the world

Oil giants lost billions as pandemic crushed demand for fuelBy CATHY BUSSEWITZAP Business WriterThe Associated PressNEW YORK
1   FuckCCP89   ignore (6)   2020 Jul 31, 10:09am     ↓ dislike (0)   quote   flag      

TPB is buying a Tesla!
2   Tenpoundbass   ignore (14)   2020 Jul 31, 10:12am     ↓ dislike (0)   quote   flag      

FuckCCP89 says
TPB is buying a Tesla!


This is the only electric car I own.


Gas is going to get cheap, eventually idiots will learn it's a sour bet to think Oil just goes up and up, and eventually people get burned.
Oil traders like letting it all ride, building bigger and bigger returns. All it takes is just one crash to wipe them out. It takes a while but eventually all Bubble investors learn their lesson.
3   SunnyvaleCA   ignore (1)   2020 Jul 31, 12:42pm     ↓ dislike (0)   quote   flag      

FuckCCP89 says
TPB is buying a Tesla!

Coal power!
4   SunnyvaleCA   ignore (1)   2020 Jul 31, 12:49pm     ↓ dislike (0)   quote   flag      

Even at $150/barrel, energy is incredibly cheap. Even including costs for refining, taxes, and retail markup you'd be looking at $5 or $6/gallon.

We take this cheap energy and squander it. If people really cared, they could strap a 1 HP motor to a bicycle and all of a sudden $5 gasoline moves you 100+ miles at 25 miles per hour.
5   FuckCCP89   ignore (6)   2020 Jul 31, 2:41pm     ↓ dislike (0)   quote   flag      

SunnyvaleCA says
and all of a sudden $5 gasoline moves you 100+ miles at 25 miles per hour.


... for 4 fucking hours...
6   Tenpoundbass   ignore (14)   2020 Jul 31, 3:00pm     ↓ dislike (0)   quote   flag      

SunnyvaleCA says
We take this cheap energy and squander it.


The Value of Oil comes out of the other end, not in the front end.
7   SunnyvaleCA   ignore (1)   2020 Jul 31, 5:29pm     ↓ dislike (0)   quote   flag      

FuckCCP89 says
SunnyvaleCA says
and all of a sudden $5 gasoline moves you 100+ miles at 25 miles per hour.


... for 4 fucking hours...
Good point. The gas engine will go for hours at a time whereas most humans couldn't maintain 25 MPH on a bicycle for even 20 minutes.
8   SunnyvaleCA   ignore (1)   2020 Jul 31, 5:41pm     ↓ dislike (0)   quote   flag      

Tenpoundbass says
SunnyvaleCA says
We take this cheap energy and squander it.


The Value of Oil comes out of the other end, not in the front end.

Not really sure which end is which, but "value" of oil comes out both ends. Plenty of people convert burning a few $$$ of gasoline into huge profits; plenty of people make huge $$$ squeezing oil out of the ground. The (oil based) plastic in the AirPods Pro™ is probably a few cents even with oil at $150/barrel, but Apple converts that tiny cost of oil into $230.

I'm not trying to argue that I love high oil costs. Just being realistic about the amazing value of oil at the other end. In fact, that amazing value of the oil at the other end is one part of why oil prices can skyrocket and demand doesn't get dampened much.

Another weird thought on oil: it's a commodity that, when prices are low, many suppliers actually produce more of it (so they can keep their otherwise-useless countries afloat). So, the usual feedback of price/demand doesn't work and prices can go wild up or down. That all happens until the CIA/Pentagon gets involved and the bombs start dropping.
9   zzyzzx   ignore (2)   2020 Aug 4, 10:54am     ↓ dislike (0)   quote   flag      

Exxon, Chevron, BP, Shell, etc. aren't going anywhere. They will be buying up all the smaller oil companies as they go bankrupt.

BP just cut their dividend in half.

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