Crude Oil Up $4. 2/11/2022. Inflation!

RedSun said:
Fill up the gas tank. I guess Fed can have a weekend meeting....
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Biden having a meeting with pipeline employees about re-opening would be a much more efficient solution. But I suppose they'll take down stocks, bonds and real estate trying to fight oil prices. Nothing we can do but enjoy our free crack pipes!
 
MKTrader said:
Biden having a meeting with pipeline employees about re-opening would be a much more efficient solution. But I suppose they'll take down stocks, bonds and real estate trying to fight oil prices. Nothing we can do but enjoy our free crack pipes!
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Biden will never talk oil company executives on oil production. Biden may ask them to lover oil price. Or provide free or cheaper gas to poor people. Or print gas coupons.
 
RedSun said:
What the heck is going on? US running out of oil? Or the war is coming over the weekend?

Biden is in deep trouble now.

CL is on fire. $100 is within reach.
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Joe Biden wants to eliminate oil so, no drilling on US soil. However, the Saudi Sheiks are more than happy to sell the US oil. On the bright spot, US shale producers are now making monies off the higher oil prices. High oil prices is highly inflationary but, Democrats have no clue or don't care.
 
MKTrader said:
Biden having a meeting with pipeline employees about re-opening would be a much more efficient solution. But I suppose they'll take down stocks, bonds and real estate trying to fight oil prices. Nothing we can do but enjoy our free crack pipes!
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Not gonna happen. They hate fossil fuels. And just to think that just few years ago under Obama (nothing to do with him, just timing of fracking) we became energy independent and net exporters of crude :(
 
When Trump was in office, he would want to drill Syria's oil, sell to American buyers cheaply. And use that money to support Kurds and anyone he wants to support.
 
RedDuke said:
Not gonna happen. They hate fossil fuels. And just to think that just few years ago under Obama (nothing to do with him, just timing of fracking) we became energy independent and net exporters of crude :(
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I remember hearing that fracking should keep oil prices from ever going much above $60-70 again...and how much oil was on tankers just riding around on the ocean because it was too cheap to sell (when oil was around $30). My how times change.
 
MKTrader said:
I remember hearing that fracking should keep oil prices from ever going much above $60-70 again...and how much oil was on tankers just riding around on the ocean because it was too cheap to sell (when oil was around $30). My how times change.
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yep all done by ourselves.
 
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