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In reply to the discussion: If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash [View all]SamuelTheThird
(1,340 posts)35. Admittedly, Im no expert or even amateur...but
' Ideally they want oil between $65 and $80. Once it goes above $80 countries start replacing it with coal, solar, nuke, mass transit, work from home, etc.'
If that's the case what possible advantage is it for the Exxon guy to lie (which is your claim, he's lying) and say it's going to 140 or 160? That would just kickstart alternatives right now to a greater degree.
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If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash [View all]
LymphocyteLover
Yesterday
OP
there's definitely been some adaptation... but still a lot has been kept afloat by the reserves that are likely to run
LymphocyteLover
18 hrs ago
#27
Absolutely. I totally agree on all those points. The stock market is particularly a mess IMO
LymphocyteLover
17 hrs ago
#32
Yes, but the key is how long the strait stays closed and how quickly the reserves run out
LymphocyteLover
18 hrs ago
#28
Diesel is often made from mideastern crude while gasoline is made from US crude
JT45242
18 hrs ago
#30
Are America's strategic reserves at a 40 year low right before the summer season?
SamuelTheThird
21 hrs ago
#19
Traders in Singapore, Beijing and Mumbai aren't duped by whatever Trump says
GreatGazoo
17 hrs ago
#36
"futures price contracts probably isn't a good predictor of actual future prices" -- meaning spot prices, yes
GreatGazoo
12 hrs ago
#42
Appreciate your insight as I'm an admitted economic idiot. I can see where Exxon would be trying to "warn"
Cheezoholic
20 hrs ago
#21
Since oil is sold as futures there is more profit when buyers panic about the future
GreatGazoo
17 hrs ago
#37
Last week Exxon Mobil warned that oil inventories will fall to record low levels in coming weeks
LymphocyteLover
17 hrs ago
#33
"one of the key reasons that Trump started this conflict was to increase energy prices"-- agree
LymphocyteLover
18 hrs ago
#25