RE:RE:Oil Pricefirewitch wrote: chuck8 wrote: Sure glad I stepped away from energy investments years ago. Canada oil is worthless and will remain that way for the foreseeable future. The US shale oil also can't make money and even current deep US wells will be pushed. The Saudi and Russia tug of war has done what?? They're both El presidente's good buddies, but they're bankrupting oil industry....for now anyways.
Reopening global business is a tough nut to crack. Damned if you do and damned if you don't. Just about every leading scientific group that I've read is suggesting a bit of a lull for Covid-19 in July and August but another major uptick wave 2 in mid-October and Nov/Dec. If big economies open too soon the resulting spike in virus will be devastating. It seems we need to contain spread as best we can while we work on an immunization solution.
Reminds me a bit of what my parents went thru with the polio epidemic in the 1950's and I recall kids in our neighbourhood school that were either in iron lung or in wheelchairs. My parents were so scared they wouldn't let me go to outdoor community swimming pools as they thought that was where it might be spreading. Good fortune was that a vaccine became available in quick order so lets hope something is found soon for Covid-19. Too bad we don't have any strong innovative political leaders. Clowns to the left of us and clowns to the right.....
I will leave peep to do the dissertation relating to the polio vaccine ,since I dont want to turn the KL board into a medical one . Only to say its not quite so simple as ‘Good fortune’ . Historical research will provide any interested parties here a trip down a rabbit hole that would require a pretty weighty book rather than a post . All the information is out there ,and peep can use a ‘lot of words’ if he wants to go into this one .
I will say one thing. Clowns are not usually dangerous . ...but in this case ...well that word would be an understatement .
FW
One clown is FED Chairman Powell. I just saw him today say his Trillions of $ conjurered up out of thin air pose no immediate inflation danger.
First we will deflate the asset bubbles (stocks, real estate etc.) then we inflate all the essential things food, wages,clothing etc. . Oil prices will go up again after refineries are closed for a while due to lack of demand for fuel then presto SUPER DUPER INFLATION everywhere.