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Thread: Overproduction will see oil drop to <$30 in 2020

  1. #1
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    Default Overproduction will see oil drop to <$30 in 2020

    Oil: Correct! Overproduction will see oil drop to <$30 in 2020.......Even I will dump my ICE car for a FEV in a few years: Oil is dead.
    Gold: Wrong! There has been a lot of twitter noize about geopolitical risks yes but no actual actions have come from it.
    US debt bomb is getting larger by the day and that will result in geopolitical FINANCIAL risk...much worse than Rocketman from NK could possibly do when launches an ICBM heading for NY.

  2. #2

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    Quote Originally Posted by DutchSilver View Post
    Oil: Correct! Overproduction will see oil drop to <$30 in 2020.......Even I will dump my ICE car for a FEV in a few years: Oil is dead.
    Gold: Wrong! There has been a lot of twitter noize about geopolitical risks yes but no actual actions have come from it.
    US debt bomb is getting larger by the day and that will result in geopolitical FINANCIAL risk...much worse than Rocketman from NK could possibly do when launches an ICBM heading for NY.
    oil is not dead
    you just discredited yourself on the economics

    I like to re visit this thread at end of 2020

  3. #3
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    Quote Originally Posted by yellowsnow View Post
    oil is not dead
    you just discredited yourself on the economics

    I like to re visit this thread at end of 2020
    That's ok, oil is done for...not dead, no..still need plastics
    OPEC will open the taps fully, Iran will too...Oil will drop like a brick: I'll be laughing about my fuel costs in 2020

  4. #4

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    Quote Originally Posted by DutchSilver View Post
    That's ok, oil is done for...not dead, no..still need plastics
    OPEC will open the taps fully, Iran will too...Oil will drop like a brick: I'll be laughing about my fuel costs in 2020
    unfortunately you won't laugh, the governments will pocket the difference between the actual price and the lower price in the name of fighting against the climatechange.... The governments wants everybody to spend the last penny of his monthly revenue every month, that is their aim.

    Golditiki2+++

    Golditiki2+++

  5. #5
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    Quote Originally Posted by golditiki2 View Post
    unfortunately you won't laugh, the governments will pocket the difference between the actual price and the lower price in the name of fighting against the climatechange.... The governments wants everybody to spend the last penny of his monthly revenue every month, that is their aim.

    Golditiki2+++

    Golditiki2+++
    Then I will just crash my car, take the insurance money, quit my job, hide my stack, sell my house, live from those proceeds and after that start collecting the free stuff like all the smart people do around here.
    Happy 2020

  6. #6

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    Quote Originally Posted by golditiki2 View Post
    The governments wants everybody to spend the last penny of his monthly revenue every month, that is their aim.
    it seems to be Mostly working. (for the Vast Majority of Folks anyway)
    x3

  7. #7

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    Technology made oil easier to get, tar sands as well, oh it's a bust & boom style resource for sure, but government just likes the payroll taxes, and gas taxes. Debt itself doesn't matter anymore, servicing the debt matters though. Otherwise, just declare bankruptcy.

    Oil prices should remain very stable all through 2020, they will not over produce because their is nowhere to put the oil, once the storage facilities are full, that's it, otherwise they have to dump it.

    https://oilprice.com/

  8. #8

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    Quote Originally Posted by everything1 View Post
    Technology made oil easier to get, tar sands as well, oh it's a bust & boom style resource for sure, but government just likes the payroll taxes, and gas taxes. Debt itself doesn't matter anymore, servicing the debt matters though. Otherwise, just declare bankruptcy.

    Oil prices should remain very stable all through 2020, they will not over produce because their is nowhere to put the oil, once the storage facilities are full, that's it, otherwise they have to dump it.

    https://oilprice.com/
    that's why they call a full storage place a " dump"

    G:tiki2+++

  9. #9

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    Quote Originally Posted by DutchSilver View Post
    That's ok, oil is done for...not dead, no..still need plastics
    OPEC will open the taps fully, Iran will too...Oil will drop like a brick: I'll be laughing about my fuel costs in 2020
    in 2 days, your post is discredited

    Oil up 4% in after market after iran general killed in airstrike.
    Gasoline, heating oil up 2.5-3.3%
    if oil is insignificant why oil reacted so quick on a dead soldier?

    more bad news for you
    https://seekingalpha.com/news/352901...SUsQ_SOjiC62ME
    Last edited by yellowsnow; 01-02-2020 at 10:04 PM.

  10. #10

    Default

    Quote Originally Posted by everything1 View Post
    Technology made oil easier to get, tar sands as well, oh it's a bust & boom style resource for sure, but government just likes the payroll taxes, and gas taxes. Debt itself doesn't matter anymore, servicing the debt matters though. Otherwise, just declare bankruptcy.

    Oil prices should remain very stable all through 2020, they will not over produce because their is nowhere to put the oil, once the storage facilities are full, that's it, otherwise they have to dump it.

    https://oilprice.com/
    there are way more above ground gold than oil, 18,330 billion $ gold in vaults versus 360 billion $ of oil in storage.

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