sparky wrote:.
in the horse race of life bet on self interest , it's not the best looking horse
but it's always trying hard
in the horse race of energy , bet on oil , it's not the best looking horse
but it's the one with the best range
Robert A. Heinlein wrote:Never appeal to a man's 'better nature.' He may not have one. Invoking his self-interest gives you more leverage.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
rockdoc123 wrote:the main issue was those who had secured future contracts were faced with having to take delivery (which they aren't set up to do) and hence a wild frenzy to sell the physical oil at any cost. With no where to store it the traders ended up having to take a major loss to make sure they weren't stuck with oil they didn't want.
sparky wrote:.
A factor hanging like the ghost at the feast is the crashing of research and exploration budget
it seems like this will take a lot more time to get back on the horse
JuanP wrote:"US producers set to torpedo OPEC+ oil rally"
https://asiatimes.com/2020/06/us-produc ... oil-rally/
Storm related and routine in the Gulf. It will make zero difference a month from now.REAL Green wrote:"Gulf Of Mexico Drillers Shut In More Than 82% Of Oil Production"
https://oilprice.com/Energy/Energy-Gene ... ction.html
"Map"
https://www.zerohedge.com/s3/files/inli ... k=3YIIRGFa
sparky wrote:the ratio of speculative trading to real industry operators was 50/1
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