Citi: Oil Could Plunge to $20, and This Might Be 'the End of OPEC'

[Ghost_In_A_Shell]

Yay,( if true).....means it's going to get expensive to fund those jihadist groups..... only bad thing about this is that people will lose jobs.......

 

[Family Man]

This is the United States trying to stifle the Russian economy. This is just a tool that the US is using temporarily to destabilize Russia. Once Russia learns its lesson oil will go back to being $5 per gallon. This is a collusion betweenthe United States and Saudi Arabia.

 

[Futuristic Eskimo]

I mean this shyt is one of the things that make the world go round and all the major players...the US...it's allies...the Saudi's

Their money is all intertwined. I feel like there's way too much money involved in that shyt for it to all of a sudden become incredibly inexpensive while the supply is increasingly dwindling and the alternatives are not in place.

The supply isn't dwindling though. It's a zero sum game for producers. Ones market share gain is another's loss. Price war becomes inevitable.

 

[tmonster]

What do you mean

oil makes plastics
oil makes gasoline
oil makes beauty products

 

[Wild self]

This is the United States trying to stifle the Russian economy. This is just a tool that the US is using temporarily to destabilize Russia. Once Russia learns its lesson oil will go back to being $5 per gallon. This is a collusion betweenthe United States and Saudi Arabia.

Hopefully we get more cars like the Tesla that are more efficient, cheaper, and readily available for the general population to use. Tired of the west depending on oil for everything.

 

[Raptor]

I agree. I think this recent "recovery" in prices is bullshyt and its going down this year.

luckily the UAE diversified its economy. I have too many fams setting up shop there.

 

[Futuristic Eskimo]

oil makes plastics
oil makes gasoline
oil makes beauty products

And? They're all price takers.

 

[bzb]

the 4 to 5 year cost/benefit for people who recently got hybrids or evs might take a big hit. in that time frame we should see some interesting advancement in efficiency and battery tech.

the suv industry like... ...

 

[tmonster]

And? They're all price takers.

ok

 

[Domingo Halliburton]

I never thought WTI would hit 50 but here we are....

 

[shonuff]

Hopefully we get more cars like the Tesla that are more efficient, cheaper, and readily available for the general population to use. Tired of the west depending on oil for everything.

you only get Teslas and Hybrids when oil is high

theres no need to develop an alternate source of energy if the one in the majority is now cheap

already people are driving bigger cars and saying fukk Priuses

thinking that they are going to make a better battery or more electric cars or have more research on new energy because oil is now cheap is just showing you have no fukking clue how markets work and what drives innovation

its the opposite - lower price oil means less money for energy companies to actually invest in developing and exploring -

just like lower price oil means that countries and cities and town that had a boom because of high pice of oil are now going thru the pain of having less money

if you were making 120 dollars an hour and you did your budget youd have to scale shyt way back if you are now making less that half that

 

[Wild self]

Gas is already going up in price . People already complain about the recent spike in price. Like I said, cars Like Tesla can't come out soon enough.

you only get Teslas and Hybrids when oil is high

theres no need to develop an alternate source of energy if the one in the majority is now cheap

already people are driving bigger cars and saying fukk Priuses

thinking that they are going to make a better battery or more electric cars or have more research on new energy because oil is now cheap is just showing you have no fukking clue how markets work and what drives innovation

its the opposite - lower price oil means less money for energy companies to actually invest in developing and exploring -

just like lower price oil means that countries and cities and town that had a boom because of high pice of oil are now going thru the pain of having less money

if you were making 120 dollars an hour and you did your budget youd have to scale shyt way back if you are now making less that half that

 

[sportscribe]

US shale oil producers would go bust at $20/gallon oil. Very unlikely to happen.

 

[88m3]

US shale oil producers would go bust at $20/gallon oil. Very unlikely to happen.

Can't say I'd care if they did.

 

[newworldafro]

This whole oil/gas price situation is like sitting on the edge of your seat watching a really good movie, you don't know what's going to happen

Except it's real life