OIL just got a Viagra fueled erection!
Trade tip for my Politico Bros
- Thread starter El OchoCinco
- Start date
There is talk of a tariff on imported oil. The expectation is that it would pop to about $35. Enough to save the shale industry.
you can see the tweet time stamp and the price action
Tariff on imported oil would be a crippling thing because unlike what the idiot in chief thinks...WE pay the tariff. All he would do is artificially raise the price of crude that then extends to fuel and gasoline
Can't argue.. consumers clearly pay for tariffs.
But... it would incentive the domestic refiners to use domestic crude. We are a net exporter but it would be interesting to see our production used at home and I'm sure you wouldn't mind the ride to $35 lol.
yeah anything to get oil back up by rather by natural causes. I think tariff is a domestic tax and I think we certainly can avoid that. To be honest the 100% surefire way is demand increase which will not happen until the world opens up. I give it a few week before we see real panic of global recessions.
All from a fucking virus.....makes the Walking Dead look less like fiction haha.
When did the US start importing oil? Thought last couple of years we were a net exporter?
The United States is a net importer of crude oil. In November 2019, the latest monthly data, it imported 5.8 million b/d of crude oil and exported 3.0 million b/d of crude oil. The United States is a net exporter of petroleum products (such as distillate fuel, motor gasoline, and jet fuel)
Thanks, have to tell my oilpatch buddies to quit slouching and get busy, lol. At these prices we need to buy all we can get.