Post by
smallcaptdr on Apr 02, 2023 9:02pm
Oil biggest mistake....
What happened to China putting Oil at $100 they realized that Oil wouldn't hit over $80 with Kurdistan flowing again and the condition of the US it's obvious that the sand tribes are shooting themselves in the foot because where will Oil end up once they cripple the US economy if Oil stays above $80+. The last time OPEC made cuts Oil headed over $90 did it make a difference in the long run, the US Traders drove it down with a vengeance so its only real value is what people will pay regardless of demand and they have stuck a knife in the US back doing this and the way Russia, China, Saudi, and Iran have all been sleeping together I'm sure that nothing would please them more than to see the US struggle plus all they have been talking about is removing the USD as the currency for Oil everything targets the US and Europe Mark my words that this party won't last and once the US economy starts faltering US Traders will hammer Oil lower every time when it's on our trading day throwing lower Oil prices back in their face and this move shows more fear about the future than it does as a move for stability. All their economies are strong so pushing Oil higher will affect the US and Europe the most and they know this plus they`re no fans of EU sanctions on Russia. They`re also forcing the hands to bring new technology to the markets faster in order to ween economies off Oil everything they are doing will work against sustaining high Oil prices. This will move NOPEC bill to the front burner if Biden has anything to say about this. What will come first, $85+ Oil or a market meltdown? This is a drastic move with drastic repercussions but let's enjoy it while it lasts because it never does. Trillion$ upon Trillion$ are now flowing into new technology for the future of transportation for the US and Europe that are spearheading eliminating combustible engines putting EV prices at parity in just a year or so. Idiots are out to kill their own industry. Biden and Putin right now are focusing on Russia's interest in Nukes and if this war ever ended Oil would drop $20+ to start. Strap in 2023 will be one crazy year and forget about 2% Inflation with higher Oil. Pigs always get slaughtered...what could possibly go wrong, too big to fail and too big to sink are famous last words. It looks like the only way Oil will head higher is manipulation as hope for $100 Oil faded long ago.
Comment by
CanadainOilBull on Apr 02, 2023 10:42pm
smallcapdr - I do agree with you that the stock market moves up and down, however, I do disagree with you pertaining the manipulation. I want you to think about how much oil went on the market from the SPR's? Was that manipulation of the market? Think before you post such nonsense!
Comment by
Maxmoe on Apr 03, 2023 9:42am
Most of us couldn't give a "cap" what that proliferate poster is rambling on about. His next post may very well say the opposite. The old analogy of a stopped watch applies except he dumps a drawer full of hundreds of stopped watches and looks for the one that has the correct time. Ignore. You won't miss the clutter