wtf. Oil getting bailout

S2007S said:
Trump directs Mnuchin, Energy secretary to create plan to support oil, gas industries as selloff deepens
PUBLISHED TUE, APR 21 20209:49 AM EDT
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Just what good is the Fed if it doesn't bail out EVERYBODY?
 
The thing about oil is that you can't simply shut off wells. Also, this is an economic war started by Saudi and Russia. He is simply firing back. There had already been 9 percent of workers laid off from the Permian. SA and Russia want to cripple that industry, and for obvious reasons.

Here is a question: Reverse everything and pretend it is Russia or SA that saw crippling prices that were wiping out their industries. What do they do?

Yep. They would.
 
And the easiest way to take care of the market is to ban imports of oil from other nations, with the exception of a handful, and then negotiate prices ahead of time, kind of like a futures contract w/ delivery. I suspect Canada would love a fixed price most of the time, maybe like 3 years out? (Just spit balling.) Say something like 35 a barrel? (Again, just spit balling.)
 
If it is really true that Russia and Saudi are to blame for this crisis which moron would be attempting to protect the Saudi regime with his own military.
A lot of the problems with oil are to do with greed , supply and demand. Shale itself is to blame. they didn't anticipate a total collapse of demand. If domestic oil is in trouble why are there 7 tankers destined to us.
 
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