wtf. Oil getting bailout

[PintoFire]

Tell me how saving corrupt bankers - and indeed financing their bonuses, is morally superior to saving US domestic energy production.

Agreed. And lets not forget, by US domestic oil production we also mean Exxon and Chevron in Iraq

 

[narafa]

Let free market and capitalism decide.

Exactly, my take as well.

 

[smallfil]

The Forbes article is trying to figure out the cost from the financial statements of Aramco, which is not correct or accurate since the financial statements of the company are consolidated and include many operations and many items.

You don't get such details from a consolidated statement.

If Aramco has a hard time breaking even at $45 per barrel, they sure as hell will not break even at even $10 a barrel. Only an idiot would believe such a fairy tale. But, believe it if you want. The facts do not lie.

 

[gaussian]

Just what good is the Fed if it doesn't bail out EVERYBODY?

Creating global government by devaluing a nations currency.


I mean...you asked.

 

[bone]

Or to drill down a bit - to maintain the global elite's hold on power.

Creating global government by devaluing a nations currency.


I mean...you asked.

 

[Scataphagos]

So what is the actual price of "SPOT" oil right now???????

Probably close to $10.

The spread between WTI and Brent (which doesn't have WTI's current storage issue) is usually around $10... and it's $19.33.

 

[ironchef]

No, US producers agreed to cut production along with Russia and Saudi Arabia.

https://www.wsj.com/articles/saudi-oil-stranded-in-supertankers-as-backlog-piles-up-11587478831

OPEC is debating production cuts that would go beyond the historic oil pact they agreed to with the U.S. and Russia

Like a bunch of thief agree to stop stealing and then everyone cheats.