OIL CRASHING

price per barrel about to go below $60

HAPPENING

money.cnn.com/data/premarket/

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meanwhile leafistan oil is at $25 and $14
KEK

is it radioactive or something?

And it's crashing the Canadian oil industry. Canadian oil producers are losing more than $100 million a day.

good. We need to annex them.

Fuck OPEC. Trump gives me a hard on every day. Have I mentioned that before? I'm hard right now.

Turdaux still butthurt.

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Democrats win the House, economy crashes.

I am sure Trump is devastated that he doesn't have to shake that fruitcakes hand one less time.

i noticed that in trumps press conference yesterday. him saying he is responsible for the oil price slide. what's he up to?

it's full of sand/dirt, takes too much energy to process making it near worthless when global barrel prices are below $70 USD

Will I get cheap gas?

The US is using its own oil now. Prices will drop.

checked
that's the curse of a country with a nearly 80yr old illegitimate government. The citizens were supposed to have a referendum on what kind of government they wanted but the shiteating pieces of shit in government never held a referendum so this country is truly a shitty meme

The US has more oil now than both Saudi Arabia and Iran combined. We are self sufficient. We no longer buy oil from Canada. The prices drop to compete to sell to other countries.

I'm pretty sure it's Trump that doesn't want to meet that faggot and forced him to take the blame.

id like a slice of that with toast

$50 barrel? lower?
what should the price be in a fair world?

... and this is a bad thing?

oil has to be at 100+ barrel for the oilsands to profit

Shale ftw. The only reliable way to fuck Russia and Wahabism is to use shale to become self sufficient. For all the handwringing about shale, retarded leftists do not think of the big pic.

That’s up to the competition in other nations, not the US.

trudeau should false flag an attack in the hormuz

>below $60
You retard. It was near 20 a few years ago

it's $70, but doesn't matter, US is pumping their own again and we have to use their refineries

meanwhile in germany

>petrol and diesel prices exploding

wat. when?

gotta pay for those niggers somehow, hans

Possibly. The US is the biggest refiner of crude oil. Cheap oil means more being refined and the price for gas can be reduced for the same margin. Honestly, gas will probably stabilize at the prices it is now just to milk the margins.

Why is this a bad thing?
Harms:
>Saudi Arabian Terror Prices
>Texass Oil Companies
>Leaf shitposters
Helps:
>Literally everyone else

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prices are pretty high here too
they were at 1.46 /liter all summer

good for them, hope they invest in renewables instead

A couple years ago when o&g was crashing hard af. 2015 ish

Hahaha Trump is raking the leaves now is there anything the madman CAN'T do?!

You're a retard

True our hat!

I mean i do like lower prices but we don't want our companies to DIE

feb 10, 2016
$27.45

wew lad. what happened?

petrol here is at ~1,67€ - 1,70€
and 100 oktane even at 1,85-1,88 €

that's like $10 a gallon??

Supply outpaced demand. In the past, opec had reduced their production to keep things stable. This time they basically decided fuck it, they weren't going to give up any market share. They were trying to sink as many us companies as they could

Holy fucking shit balls.

like 7-8€ per gallon for normal super petrol (95 oktane)

ah. now it's all coming back to me

*$

Fuck that

well hopefully that pushes your country over the edge and the great euro-purge can begin.

And chevron is shooting for first oil with their Bigfoot platform soon, if they haven't already. Companies like that don't make that kind of investment without some assurance. I'm not sure what they see, but it'll be interesting

it was already that high once 5 years ago, so i don't think so

this kills the venezuela

>unironically thinking about annexing north commiefornia

***BREAKING NEWS: TECHNICAL GLITCH HALTS TRADING ON THE CHICAGO STOCK EXCHANGE***

god damn checked

that's just WTI, the US price. Brent is still at 71. Very bad for Russia.

US has a functional price ceiling of about $60. If Iran and Saudi arabia start fighting, the brent price will go up to about $200-300, but the US will just bring back the export ban, and WTI will cap out at ~60-70.

>the brent price will go up to about $200-300,
Gives me a boner

>mfw basically unemployable until it’s 100 a barrel
>mfw

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Yeah. It would be more than enough to cause a global economic catastrophe. The US would be hurt as well, but not nearly as much as pretty much every other country on the planet.

Also funny, California imports more oil from the saudis than the rest of the states combined, so their gas price tracks with brent rather than WTI. That's because they virtue signal about how fracking is bad and decide to get their oil from the saudis instead. If there's a war that sends oil prices skyrocketing, California will be the only state that pays more than $60 a barrel, and it would fundamentally ruin their economy for probably at least a decade.

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