RE:RE:RE:RE:RE:RE:RE:RE:blowout earningsIt is in order to give all this free money out, and keep their standard of living.
Another reason I believe oil is being manipulated at these low prices now is so due to the global recession due to covid. Keep money in consumers pockets for food and other essentials.
Use the rest of 2020 for buying opportunities, things are shaping up for the next multi-year oil bull market to start in 2021. Buy low, sell high.
Robertboblaw wrote: I know ppl who work in the middle East. Their oil supplies and production is so vast they don't pay any taxes rather they GET FREE money from the government rather than paying taxes. He said you could put a stick in the ground where there's an oil field and oil will seap up (exaggerating obvi but you get the point ) but no way the middle East b/e on oil is $70. How do you explain them not paying any taxes and still being so wealthy and powerful? Their royalties on even cheap $40 Oil provides their people with income vs taxes here...why don't Canadians get free royalties on oil from the govt? It's cause the oil is so vast and cheap and easy to produce over there ( Russia too btw)