Roxy wrote:Whoever predicated oil would go to zero must have been a genius. About a year ago it did go to zero and even all the way down to minus $43.
When a SINGLE pricing FLUKE due to a futures contract requirement in the short term has ANY meaning re what it costs consumers on average to buy gasoline, diesel, etc. over the course of a year, be sure and get back to us.
As it it, unless your comment was sarcastic, it was silly at best.
(Looking back at your comment history, you were apparently serious.
I can see that trying to talk to you would be like trying to talk to short. Good luck in life, being immune to math, logic, facts, etc).
ETP, as it was framed and preached, has been shown to be total nonsense over time.
Oil (i.e. WTI) is NOT moving anywhere toward zero price over the course of a year, even in an economy that is moving away from it as a trend for ground transport. It's already mid-2021, and it was supposed to be at about $2 by year end. Case closed to anyone with eyes to see and a brain to think. For context, WTI has roughly doubled in the past year, and it's been roughly holding in the mid $60's on average for well over 2 months now.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.