The market tanked last week and this is the first article I have seen where it used an adjetive to describe it even though previously one percet drops would have headlines like the sky is falling. This is enough of a plunge where the rich folks are starting to notice.
Oil hits $100 a barrel
I read the headline and thought, "oh damn, is the price going down?”
I thought it passed $110 when Trump started the war with Iran.
There’s more than one oil price:
Oil prices also rose sharply, with U.S. crude topping $100 a barrel and global Brent crude at approximately $114 at around 4 p.m. ET.
Brent crude went above $100 early, but US crude just got there.
I think he bought a bunch of their oil and brought the price down for a few days.
If you think this week was bad, you should see the next one.
Back when I was in college, it was the first gulf war and oil was around $20 a barrel.
One of my professors was talking about shale oil and how the US has phenomenal shale oil resources but it’s not profitable at anything less than $125 a barrel “and if oil is $125 a barrel we’re all screwed anyway!”
Well…
https://www.macrotrends.net/1369/crude-oil-price-history-chart
(North Dakota made SO much money!)
We’re not screwed.
Oil no longer being available on the market is literally what’s necessary to save us
Breakeven costs on fracking nowadays is like $60 a barrel actually, we’re pretty producing all the fracking oil we can at this point
Yeah, like I say, North Dakota was a boom town for a bit. Colorado has a metric fuck ton too.
https://coloradogeologicalsurvey.org/energy/e-fossil/oil-shale/
Granted $125 a barrel back then would be close to $300 today
Yeah, that’s a good point. What is $125 1992 today?
$295.79
https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=125&year1=199201&year2=202602
Yes
If this boosts renewables, then there’s a silver lining
At least for non-US renewables, their stock prices had been less volatile compared to others. Renewable energy in the US isn’t going to do well so long as Trump is in power.
At least for the renew crew. At this point we’ll take any W.
Well alright then, but you’re nearly overloaded. The wrenew crew can’t take many more Ws
“Cuba is next.” -Founder of the Board of Peace
Recipient of the FIFA World Peace Prize
It’s like the FIFA World Peace Prize means nothing anymore.
I know right? Remember last year how powerful and impactful the award was?
This just in: 6 time bankrupted felon can’t manage economy. More at 10!
I feel we should’ve never leave out the fact he bankrupted a casino. A fucking casino
Three casinos.
Well also should never leave out the fact he rapes children
Fortunately some people are still making a shitload of money betting on Trumps announcements 5 minutes before they happen.
Thank god the worst people can make money inside trading on war crimes.
If I had a choice? I’d rather they fleece betting sites then the stock market since the latter could have a knock on effect on me and mine.
Yes and no. Yes, I’d rather have them fleece similarly rotten gamblers. No, I don’t like them making terrible decisions intentionally, because those will always be the most profitable bets.
Elect one of the dumbest most brazen idiots on the planet. Be shocked when the world goes to shit.
This is from an ARG right?
It’s from an analog horror called LOCAL58
Welp. I’d like to not say I told ya so, because that’s not helpful.
…
Well, (Casual long pause) He’s at least saying (checking notes) something.
