As most of you probably know, oil has been an absolute mess lately. How long can OPEC keep this up? Are they losing control? What is the breaking point? What are your predictions, /biz/?
>$43 WTI is bad
There's no fucking way to convince businesses oil is worth $100, oil is fucked until the abram tanks delivered to Houston begin operation mejican freedom. Screen capture this.
>>1238734
My prediction is basically that current prices aren't as low as the dire things everyone is saying and that it is impossible to predict where prices are headed. Like how the Canadian fires didn't really change the oil price on Monday. It makes no sense.
I can say that no matter all the stuff about alternative energy and climate change is that we are so dependent on oil that it isn't even funny. God damn toothpaste is made out of it!
>>1238736
This sounds spicy. Please elaborate.
>>1238747
So what do you think is going on? If prices are an illusion, why create the illusion that oil is worth Jack shit?
>>1238817
I posted an inflation adjusted historical price history for WTI. It shows that $43 oil isn't low at all and everything is just overblown.
Right now the only thing that people care about is Cushing oil inventory levels. Until it starts going down the market doesn't know what to do. But when it does oil will pop over night.
>>1238723
The price is going to raise and when it does fracking will come back and we'll have a shit ton of jobs.
>>1238822
I don't think so about the jobs. We are still pumping a lot of oil with a lot less oil rigs. Jobs can't recover.
