As Bank Fears Spread, Oil Craters

[BluesLegend]

I'm for allowing the banks completely fail just as we should have done in 2008.

You know, actual capitalism?

Burn it all down am I right left winger? Let's go all the way, cut off all welfare and mooching deadbeat dead weight. Let them fend for themselves so I can keep MY money vs having the parasite class mooching off me.

 

[pknopp]

Burn it all down am I right left winger? Let's go all the way, cut off all welfare and mooching deadbeat dead weight. Let them fend for themselves so I can keep MY money vs having the parasite class mooching off me.

Rant on. In capitalism when a business fails, what is supposed to happen?

 

[CrusaderFrank]

Pathetic isn't it.

Predictable and pathetic

 

[The Banker]

Oil prices crater as inventories build, fears ripple through global markets

Oil prices have fallen sharply in recent days amid growing inventories and broad stresses following the failure of multiple U.S. banks.

finance.yahoo.com

As fears over the banking system weigh on markets worldwide, the price of oil has come under significant pressure in recent days with WTI crude oil, the U.S. benchmark, falling below $67 on Wednesday, its lowest price since November 2021.



In just 10 days, oil fell from $80.46 to $67. Today, WTI Crude is $66.59.

Since oil and gas are half the Russian economy, they need oil to remain above $60 to stay solvent.

Speaking of Russia, Putin is going begging to get someone to take his oil.

Russia’s Oil Trade Is Starting to Show Signs of Clogging Up

Across the world, there are increasing signs that the smooth flow of Russian petroleum is starting to get snarled.

www.bloomberg.com

Ships filled with refined fuels are floating off the coasts of Europe, Africa and Latin America, potentially ratcheting up waiting fees. Some vessels hauling the OPEC+ producer’s crude oil are bouncing between ports without discharging, while others are unloading and being stashed at unusual locations.

It all points to a network of logistics that is struggling to keep pace with servicing a country that exports over 7 million barrels a day of crude oil and products. A vast swath of that trade has shifted from Europe to new and less-familiar customers, often thousands of miles further away.

“There has already been a mismatch in what is leaving Russian ports and what is imported by buyers of Russian oil,” said Giovanni Staunovo, commodity analyst at UBS Group AG. “This is translating in higher volumes of oil on water, and considering a limited number of tankers available to transport oil, if those tankers are not unloaded, it will translate in lower exports and production at some point.”


Putin thought he had the world over an oil barrel. He made a catastrophic error in judgement.

Biden's timely release of the SPR crushed the price of oil.

In 2014 Obama broke the global oil price with his fracking boom. In 2022 Biden broke the global oil price with his timely SPR releases and massive oil drilling permit increase (more than Trump) and green energy intiatives

The US is a global leader in energy production and export. Biden is the energy president

 

[evenflow1969]

Well big oil taking it in the chin kinda makes me happy. Those cork suckers told me if oil got above 55 dollars per barrel they would start pumping oil off my land again and I would start seeing some checks. I am still waiting on the caps to come off and still waiting on those checks.

 

[pknopp]

Well big oil taking it in the chin kinda makes me happy. Those cork suckers told me if oil got above 55 dollars per barrel they would start pumping oil off my land again and I would start seeing some checks. I am still waiting on the caps to come off and still waiting on those checks.

It never went above $55 because there was any shortage of oil so...........................yours isn't needed.

 

[evenflow1969]

It never went above $55 because there was any shortage of oil so...........................yours isn't needed.

Lol, I guess not. I can sure as hell verify I have gotten no checks.

 

[Nostra]

Biden's timely release of the SPR crushed the price of oil.

In 2014 Obama broke the global oil price with his fracking boom. In 2022 Biden broke the global oil price with his timely SPR releases and massive oil drilling permit increase (more than Trump) and green energy intiatives

The US is a global leader in energy production and export. Biden is the energy president

Barry Hussein opposed fracking, Dumbass.

 

[gipper]

Barry Hussein opposed fracking, Dumbass.

No he didn’t. You should know by now never believe what he says. It’s what he does that’s important.

President Obama’s Support For America’s Shale Oil And Natural Gas

President Obama Gets It: Fracking Is Awesome

Obama administration unveils new fracking rules

 

[sparky]

My solution is to sell off the parts of the banks that fucked up by not hedging their interest rate risk. Like they did with SVB.

how would this work ?
~S~

 

[pknopp]

No he didn’t. You should know by now never believe what he says. It’s what he does that’s important.

President Obama’s Support For America’s Shale Oil And Natural Gas

President Obama Gets It: Fracking Is Awesome

Obama administration unveils new fracking rules

Yep. I supported likely 90% of what Candidate Obama said he was going to do. I supported maybe 10% of what President Obama actually did.

 

[gipper]

Yep. I supported likely 90% of what Candidate Obama said he was going to do. I supported maybe 10% of what President Obama actually did.

Exactly. He was a terrible fraud, but many still think he was great. Americans? So many of them are dupes of the establishment.

 

[Nostra]

No he didn’t. You should know by now never believe what he says. It’s what he does that’s important.

President Obama’s Support For America’s Shale Oil And Natural Gas

President Obama Gets It: Fracking Is Awesome

Obama administration unveils new fracking rules

Clicked on your claim Obama said "Fracking is awesome". Nowhere in the link does Barry say "fracking".

Decided it was a waste of time to click on your other obvious bogus links, Simp.

Obama Adminstration Ramps Up Legal Fight Against Fracking

America is producing more natural gas than ever before thanks to innovative new drilling techniques like hydraulic fracturing, or fracking,

dailycaller.com

Obama Fracking Rule Is Struck Down by Court (Published 2016)

A federal judge in Wyoming said the Interior Department had overreached when it issued a regulation for hydraulic fracturing on government-owned lands.

www.nytimes.com

 

[Nostra]

Yep. I supported likely 90% of what Candidate Obama said he was going to do. I supported maybe 10% of what President Obama actually did.

One day you really should try to think for yourself, Gipper duped you, Dupe.

 

[Nostra]

Yep. I supported likely 90% of what Candidate Obama said he was going to do. I supported maybe 10% of what President Obama actually did.

Barry did zippo to increase oil production. He duped you, Dupe.

Obama's Misleading Oil Boast - FactCheck.org

Presidents -- regardless of party -- tend to take credit for good things that happen under their watch, regardless of how much influence their actions may have had. Exhibit A: Former President Barack Obama said the fact that the United States is now the world's biggest oil producer didn't happen...

www.factcheck.org