oil has fallen 10% in the last few months, doesn't seem to correlate well with the QE theories.
the us dollar is "defaulting"? what do you even mean by that?
the us dollar is "defaulting"? what do you even mean by that?
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oil has fallen because the US reserves were opened to ease the rising cost of oil.Build your own dreams, or someone else will hire you to build theirs!
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lol. that's absurd - there was already a huge supply glut of unrefined oil. opening the reserves did nothing, furthermore the amount they released is dwarfed by how much we consume in a day.
It could have explained a drop immediately after they did that, but it certainly doesn't explain the drop in the last week or two. the oil reserve release was months ago.Comment
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That was more like a month ago and it was a release of 30 million barrels over a 60 day period.Build your own dreams, or someone else will hire you to build theirs!
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30 million barrels isn't even a drop in the bucket. how many million barrels has libya taken off the market since their civil war started? How big is the supply glut in Cushing, Oklahoma? Big enough to last at least 2 years? Yep.
average consumption in the US is 18 million barrels per day. China is about half that and closing the gap. Your 30 million barrel, magically make the price drop over 10% in 2 weeks, isn't even a 2 day supply.Comment
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Build your own dreams, or someone else will hire you to build theirs!
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I'm not sure what your point is there. yes the lower price of oil is a sign of our economy being weak, and we'll have to use less in the future because supply is limited and demand is increasing. that's not exactly news.
what does that have to do with your laughable idea that 30 million barrels, which is consumed 3 times in a single day globally, dropped the price of oil 10% in a matter of days, almost two months after the release was announced?Comment
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sorry, typoOriginally posted by nando View Post
the dollar has deflated while oil and other commodities have gone up
foreign governments and individuals buy commodities such as gold as a hedge against a weaker dollar
oil is going down mostly on economics, for once
the world is entering another recession, and expected demand is going down“There is nothing government can give you that it hasn’t taken from you in the first place”
Sir Winston ChurchillComment
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You have hit this one again.Originally posted by gwb72tii View PostThe American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de TocquevilleOriginally posted by Fusion
The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken
Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
William Pitt-Comment
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Shouldn't the price of tinfoil be sky rocketing?!?Comment
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I switched to Aluminum Foil, seems to be a little more cost effective with as much as I use.Comment
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