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wrightcattle
Veteran Advisor

Say $9 to $14 crude

Oil is close at hand  .

And that will be crude price for  the next 3 to 5 years,  most likely. 

 

Times change. 

12 Replies
rickgthf
Senior Advisor

Re: Oil might be $9-14 per barrel but I thinking you're missing the point.

As of tonight, 161,088 confirmed cases of coronavirus have been reported in the US, along with 2968 deaths.  That's 1.8 % mortality, pretty consistently over all the states reporting.  

  If, as has been reported, half the population of US will eventually contract coronavirus that means 2.88 million will die.

   Who cares what the price of oil will be?

 

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freedom1493
Veteran Advisor

Re: Oil might be $9-14 per barrel but I thinking you're missing the point.

Whenever you are inclined to feel sorry for China...remember this:

https://www.youtube.com/watch?v=C4cnXoGsjj8

Yeah, the CCP has been selling those masks to the U.S.

Still feeling motivated to sell your corn and soybeans to the Communist Chinese Party?

wrightcattle
Veteran Advisor

Trump states that


@rickgthf wrote:

As of tonight, 161,088 confirmed cases of coronavirus have been reported in the US, along with 2968 deaths.  That's 1.8 % mortality, pretty consistently over all the states reporting.  

  If, as has been reported, half the population of US will eventually contract coronavirus that means 2.88 million will die.

   Who cares what the price of oil will be?

 


Soon all the churches would be full. 

He's kinda tricky.  

He did not say if he noticed the difference of alive or not. 

wrightcattle
Veteran Advisor

Re: Oil might be $9-14 per barrel but I thinking you're missing the point.


@freedom1493 wrote:

Whenever you are inclined to feel sorry for China...remember this:

https://www.youtube.com/watch?v=C4cnXoGsjj8

Yeah, the CCP has been selling those masks to the U.S.

Still feeling motivated to sell your corn and soybeans to the Communist Chinese Party?


I care less. 

Trade is trade. 

When China is importing all the USA E,  I say good for them too. 

sdholloway56
Senior Advisor

Re: Oil might be $9-14 per barrel but I thinking you're missing the point.

If oil stays under $20 for 3 years I wonder who the new leaders in Saudi Arabia and Russia will be?

6 months under $20 is going to curb US production for a long time. 

Unless we’re heading into a lengthy global depression I think   Oil will be back at 60 a year or so after.

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sdholloway56
Senior Advisor

Re: Oil might be $9-14 per barrel but I thinking you're missing the point.

First batches of Econ data post cV coming in and TX manufacturing PMI was horrible. Of course a lot of it there is oil equipment related.

And the cV heating up in Houston and Dallas metros won’t help.

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rickgthf
Senior Advisor

Re:Good point

Good point.

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BA Deere
Honored Advisor

Re: Say $9 to $14 crude

Here`s Tucker talking to Energy sec Rick Perry about the consequences of possibly losing the independent oil companies.  He talks about only refining domestic oil instead of the Russo-Saudi market flooding oil.  Oh I know that`ll go over like a lead balloon, everyone hates "Biiiig Ooooooil"   and they want their $1.50 gas and even though that isn`t in the consumer`s LONG term best interest, they still want their instant gratification.  

https://www.youtube.com/watch?v=U51NH8Cyc_E

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sw363535
Honored Advisor

Re: Say $9 to $14 crude

Rick and the magical numbers............ stop with the cnn math    it is nonsense   but should be very reassuring

Don't missread me == this fight is worth fighting  but Rick reminds me of my youngest son when he was getting ready for his first year of school and I was trying to stimulate his desire for education with a magnifying glass.

He thought it was comical and kept the class in front of his eyes as he looked up and around the room with laughter.

That is what the media does every day...... take a microscopic view of the world and try to scare listeners & readers into doom and gloom(and watch tomorrow).   That is why presidents have to present truth every afternoon...... because media won't.  It's ranks are full of minds that have lost grip on reality.

I am not that old but remember the realities of life in the late 50's and 60's when you prayed your kids would not have polio..... or die of the measles..... or one of 7 other childhood diseases that would kill or cripple for life.   By college in 1970 most of those fears were being addressed.... We were lucky to have those vaccinations.

I have a neighbor(a junkie) who made a trip to KC yesterday to resupply his mental stash of "feel good" drug.   Against the call of the governor to stay at home and not travel he loaded up a van of unwanted dogs and transported them to Kansas City where they can be unwanted without knowing their date of death.  My friend thinks he is saving their lives.  What nonsense, they will still die.  ----His own brother refused to allow him to stay overnight on his crusade for "Angels for Animals"------ his feel good drug of choice.  There was a call yesterday to escort him to county jail on return to serve out a quarantene of 30 days --- but the sheriff doesn't want his employees and inmates exposed to the virus.  So he will go back home to his sick wife and elderly neighbors for whom he is a handy man on average days.  He is a well meaning, entertaining man who has allowed his reason to be distorted by the constant flow of wild love the media makes with its magnifying glass distortion for a cause.  This man is smart.... but could never have survived the world of reality that existed 75 years ago.   We swim in the sesspool of false assumptions and think we will not be stained.

How many deaths will there be in the US each year without this particular virus?   2.9 million.   Save your "Oh my God" moment for the little wife and the "we work, hear me roar" tea club-or the View.  Will this virus change that number much,  probably not.  We will just get to have a more consistent cause of death this year.  Does the virus pose great danger?..... yes.  Worse than traffic accidents --- not yet but probably.  Will it be gone in the future....... No -- that is a president trying to reassure.  Like Roosevelt or Churchill, knowing better.

So if Rick can assure me that we will have 2.5 million deaths this next year to only one cause......... it is a safe bet.   Traffic accidents deaths will be down..  Even the ones caused by cell phones.

I just hope starvation doesn't make a comeback in the US.  Certainly poverty will have a good year.

 

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