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rockets will hit a pipeline or refinery soon. this is how wars start.
Umm, why would somebody do that now?
Oil usage is at a record-setting low. Storage tanks are all full, and there's nothing the oil-producing companies can do with the oil.
Blowing up a pipeline or refinery wouldn't deprive anybody of anything. Probably give them a welcome vacation, and/or a chance to do some major maintenance without particularly disrupting anything.
You realize getting oil prices this low was OPEC's goal to bankrupt the US industry right?
Oil prices this low are BAD for US energy independence.
But, since they didn't cut their production early enough, it's turned it into a negative for them as now there is a glut to where they have ships that can't port anywhere and are running out of storage space for what they are pulling out of the ground. The Gulf countries don't have personal income taxes, so everything is paid for from oil sales. Thus what the US is seeing now, they will feel within the next 45-60 days.
Oil usage is at a record-setting low. Storage tanks are all full, and there's nothing the oil-producing companies can do with the oil.
Blowing up a pipeline or refinery wouldn't deprive anybody of anything. Probably give them a welcome vacation, and/or a chance to do some major maintenance without particularly disrupting anything.
Blowing up a pipeline translates to having the product needing to be shipped by ship. If there are no ships, then no deliveries and thus no payments. No payments translates to no payroll. No payroll, no maintenance.
I don't drive my Vette enough to make it worth while. But gas should have never been over 80 cents a gal ever. Bush 1 and his failed war back in 1991 gave us the highest oil prices and then Bush 2 with his 2 failed wars gave us even higher oil prices in 08.
And Obama escalated and extended those wars and started new ones. We had the highest gasoline prices under Obama at over $4 a gallon and he said that was a good thing!
You realize getting oil prices this low was OPEC's goal to bankrupt the US industry right?
Oil prices this low are BAD for US energy independence.
Exactly --- I suspect Saudis and Russians kind of new this health crisis would impact demand. Not saying they realied how much the economy would tank but that most definitely -- given what we saw happen in China -- there would be similar scenarios around the world.
I suspect no one in the oil industry saved any of the money they made when the going was good and ew are all going to have to bail them out.
And Obama escalated and extended those wars and started new ones. We had the highest gasoline prices under Obama at over $4 a gallon and he said that was a good thing!
Well yes, it was a good thing. Those over the moon prices made shale oil exploration profitable and greatly extended the curve toward so called peak oil. It also encouraged the transition to improved energy efficiencies. Supply and demand. The unseen hand. It works even if it can be painful.
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