$380 a Barrel for Oil ?????????????????
#7618109
07/02/22 09:16 PM
07/02/22 09:16 PM
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Joined: Jul 2016
Posts: 3,928 NY
Canvasback2
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OP
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NY
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618113
07/02/22 09:18 PM
07/02/22 09:18 PM
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Joined: Jan 2014
Posts: 21,074 North East Kansas
Marty
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you will own nothing and be happy
E 'Honey Badger Militia' Sleep, the anti woke adote.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618152
07/02/22 10:02 PM
07/02/22 10:02 PM
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Joined: Feb 2009
Posts: 3,921 minnesota
mnsota
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Raccoon prices will be through the ROOF !! LOL Ha Ha,..you remember those threads,..we're all rich!
Last edited by mnsota; 07/02/22 11:17 PM.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618223
07/03/22 01:04 AM
07/03/22 01:04 AM
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Joined: May 2011
Posts: 16,609 Oakland, MS
yotetrapper30
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Be curious to hear what white or any of the other financial gurus have to say.
$300 a barrel crude would bring the US to it's knees, I'd think.
~~Proud Ultra MAGA~~
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618310
07/03/22 08:03 AM
07/03/22 08:03 AM
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Joined: May 2010
Posts: 10,485 MN
Steven 49er
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Be curious to hear what white or any of the other financial gurus have to say.
$300 a barrel crude would bring the US to it's knees, I'd think. Yup. I'm also waiting for jbyrd to post lol. In the present times I can't see oil going that high, demand would be destroyed long before it got there. Now if they inflate the money supply another 40 or 59 percent like in the so called response to covid, I'd have to recalculate. I think I could make a reasonable argument for 200 dollar oil in present terms
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Steven 49er]
#7618374
07/03/22 10:03 AM
07/03/22 10:03 AM
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Joined: Jan 2018
Posts: 4,584 MN
Donnersurvivor
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Be curious to hear what white or any of the other financial gurus have to say.
$300 a barrel crude would bring the US to it's knees, I'd think. Yup. I'm also waiting for jbyrd to post lol. I think I could make a reasonable argument for 200 dollar oil in present terms 200 would be brutal, do you foresee oil climbing? My brother and I were just talking about this, he thinks it's going way up this fall, I have no idea.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618417
07/03/22 11:07 AM
07/03/22 11:07 AM
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Joined: Dec 2008
Posts: 226 MICHIGAN
WANNABE-TRAPPER
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Demand destruction won’t let prices stay that high. There is already demand destruction. I have had two employees quit to take jobs way way closer to home.
Think beyond right or left don't be guilty of group think.
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Re: $380 a Barrel for Oil ?????????????????
[Re: white17]
#7618581
07/03/22 04:13 PM
07/03/22 04:13 PM
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Joined: May 2016
Posts: 3,530 Southern Illinois
Foxpaw
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I am confused about how some see this as an ad for JP Morgan ???? I guess maybe when people associate the 4 horsemen of oil and Federal Reserve people just naturally come to conclusion of guilt by association or at least as not trust worthy. Just a guess. Maybe the Titanic was sunk by the shooter over on the grassy knoll to start the Fed Reserve, lol.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Donnersurvivor]
#7618749
07/03/22 09:22 PM
07/03/22 09:22 PM
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Joined: May 2010
Posts: 10,485 MN
Steven 49er
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200 would be brutal, do you foresee oil climbing? My brother and I were just talking about this, he thinks it's going way up this fall, I have no idea.
I don't expect oil to climb other than typical market fluctuations. In 2020 when oil went negative and presidents were signing stimulus plans I felt oil was going to $100 easy and unlike the oracle of Kentucky I put my money where mouth is so to speak. Part of the reason I felt oil was going to climb was that I was expecting the USD to lose value, although it did in the beginning and has come back strong for whatever reason(I know why). It's hard to say where oil would be if the dollar had went south and was trading under 90 on the dxy. I am of the belief the FED will raise rates one more time and then pivot. If the FED pivots before it kills inflation, that is where I see the potential for 200-dollar oil. I agree Ken, we are in the beginning phase of a full blown recession, my son asked me in April if I thought there would be one, my answer was too late, we are in it.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618792
07/03/22 10:19 PM
07/03/22 10:19 PM
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Joined: Jul 2017
Posts: 2,672 Ohio
Willy Firewood
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Did someone say oil?
Yep, I am still alive. I toughed thru the heart problems and escaped from the hospital. They planned no additional tests or procedures so not much point being there. The cardiologist scheduled an appointment for August - no real time issue here. So I am looking for a new cardiologist. Thanks for your prayers!
Back to oil. Nobody wants to see $380 oil. Nobody wanted to see oil top $200 during the Obammy administration. But it did.
About a year ago, some investors were buying in on oil contracts at $200 for 12/22. They may cash in?
Before $380, everything else will be on the rocks. There will be economic and societal breakdown.
There is still plenty of capacity in the oil shale region of Ohio. About 3 miles from my home a rig is drilling. The new site pad will support 8 wells. A second pad can be added for another 8 wells.
I also believe that speculators will exit the market way before we reach that price level. The risk far outweighs the potential reward. It would be far too likely for government to step in and essentially nationalize the oil industry for "national security" reasons. No investor or speculator wants to be holding the bag at that point.
As White says above at some point, the Feds would nationalize the petroleum industry. Wouldn’t that be a hoot! The devil would be in the oil patch for sure then!
FRAC LIVES MATTER
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Re: $380 a Barrel for Oil ?????????????????
[Re: Canvasback2]
#7618840
07/04/22 12:19 AM
07/04/22 12:19 AM
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Joined: Jan 2014
Posts: 21,074 North East Kansas
Marty
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The U.S. Oil & Gas Association took a hit at President Biden after he tweeted on Saturday that "companies running gas stations" should simply "bring down the price you are charging at the pump," telling him that he should "please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester."
E 'Honey Badger Militia' Sleep, the anti woke adote.
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