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sdholloway56
Senior Advisor

Re: Say $9 to $14 crude

Not quite yet.

Pres. Dave Dennison announces SA and RU have agreed to a 10m/b/d output cut.

That isn't quite as huge as it would appear- GS predicts a 12m/b/d drop in global demand by the end of April.

Nobody could sustain the current level of production vs. demand unless they put a hose into the Red Sea and Caspian and started pumping it in there. They aren't getting along, they just ran out of anywhere to put it.

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timetippingpt
Honored Advisor

Re: Say $9 to $14 crude

Yes, price does impact supply, even the Saudi's have to have a place to pump it. :-)

The article in the major rags about oil going below zero last night turned me pretty bullish, short-term anyway, and I think Dave is right, once you shut the wells down, they aren't opening back up anywhere south of 60 at a minimum. So hard for us humans to even grasp the concept of an inflationary recession/depression.

I would push back a little on your points SW. Yes, the 36 year old guy from a few miles south of here that passed away could have been killed in a car accident....but wasn't. The death rate is meaningless. It is pretty simple, "flattening the curve merely EXTENDS the curve", a mathematical certainty. Actually, we are extremely fortunate this thing kills so few in general and almost no children...that would cause a real panic. The next one will be far more like the movie "Contagion" than this dress rehersal.

The Sheriff should clearly be replaced in the next election. Pretty darn easy to put an ankle bracelet on idiots and take their car keys! Alas, the herd is being a herd, pretty much as expected I suppose. 

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sdholloway56
Senior Advisor

Re: Say $9 to $14 crude

As Stalin famously observed- a single death is a tragedy but a million are a statistic.

’Ol Joe had several screws loose too, I’ve been told.

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