Maverick wrong on OIL, Gold, Markets as usual.......want the Oil truth ?

Visaria said:
Is there a national asset clock somewhere i.e. clocking up all the growing assets of the nation?
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Sure, and we can sell our land off like Greece did with her islands to Goldman Sachs, when we default on the national debt. Make sense?
 
Could it just be that America is producing lots of oil and not importing it? OPEC can't do much if the biggest producer and the biggest consumer don't need them anymore so they are fracked, and boo hoo... It's kind of cool the way it's working out too, Venezuela is so screwed right now, those socialist @ssholes couldn't make it work when Oil was high but now, forgetaboutit... I'd rather see Russia prosper and let me have some of the fruits of their medical research, very open-opinioned and intelligent those Ruskies. They have a culture that can flourish in directions our Medical Cartel would never allow but they are Oil exporters and will get a little screwed over by low prices maybe. They can't export AK's right now, bad for that sector...
 
I have heard a poster here say that the cash/spot oil market is a small fraction of the oil market.
Does this imply the larger fraction are financial products getting crushed here and possibly seeking safety in USD and treasuries?
Is this a catch-all for "speculators" . I can envision an OPEC/Saudi prince looking at CL chart thinking
" I didnt do that "
 
Low oil is great for Russia in the long term. Gives the chance to people to see reality, which is: prosperity of 2000's was not the economical genius of Putin's team, but plain luck aka bull market in oil and other commodities.
 
piezoe said:
. The production cuts we will see in coming months will come first, of course, where production costs are highest and margins are slim.
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Not necessarily so. Given that there are so many state actors in the hydrocarbon game production cuts can be, and have in the past, been political decisions not tied to the cost of production.
 
cornix said:
Low oil is great for Russia in the long term. Gives the chance to people to see reality, which is: prosperity of 2000's was not the economical genius of Putin's team, but plain luck aka bull market in oil and other commodities.
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That may well be true, as you say, long term but the pain inflicted in the short term is likely to be quite severe. It would be nice if they turned on Putin but they do love the way he strokes their ego as if Russia is a great nation. It's a second (or even third) class operation with oil production keeping it barely afloat at $60 oil and not at all afloat if oil goes under $50.
 
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