Oil down hard thank Saudi

[SASKFARMER]

Oil is down a whopping 30% over night and where it stops no one knows. I remember the last time I bought when it bottomed and ran it up to 62.36.

It’s a opportunity but canada if they had a made in canada oil program would be able to have stability in a wild market for consumers. Yes gas should drop but Irvine family is the only ones who will profit.


Thank a Trudeau and his merry band of fools.

[SASKFARMER]

So Saudi and Russia are going at it. Saudi’s are ramping up production and drive prices down since Russia wouldn’t agree with them to stabilize the market and keep it priced at nice levels.

Canada is out of oil as Trudeau stopped all except foreign oil coming to canada. We’re now a importer not much of a exporter.

Diesel at the farm is down .10 to .15 cents since the new year we should be able to fill our tanks this spring way lower maybe .65 or would be nice .52.

But it’s canada it won’t go to where it should be because it’s all fixed.

[Austrian Economics]

While pump prices will inevitably go down, the bigger issue is what the oil price collapse will do to the finances of Alberta and Saskatchewan. Then there is the issue of debt default by companies who have substantial investments in the oil patch that are no longer viable.

These companies will either need relief via a jump in oil prices or a cut in the rate of interest. The latter is more likely than the former but whether it will help any particular company depends on their debt structure.

[jazz]

Russia and Saudi are not at war with each other, they are at war with US shale. Thats their real target.

See how long they can last. They are a one trick pony, the US is not.

Afraid Canada will be collateral road kill but this will be felt far outside Ab and Sk.

[SASKFARMER]

Oil still dropping and yes jazz it’s the Saudi Russia pissed off at shale to make USA a exporter. Canada well with skippy we’re ****ed it’s that simple. A Moron is a moron.

Trade halted today three times so far to give the market a breather.

Musk just came out and said this Carona virus scare is stupid.

Media likes a shit show Canadian will probably blame trump and praise skippy for doing suck a great job.

MSM in canada is a shit show.

Canadian dollar down hard good thing don’t need USA for a few more years.

[Misterjade9]

Markets have only been halted once this am, as soon as they hit 7% down they halted electronic trading but there still was manual trading. Halted for 15 min. should open again pretty soon and head to the next down limit.

[SASKFARMER]

It’s back trading and -7.45

[jamesb]

Farm diesel closer to 70 cents on Friday.

[SASKFARMER]

Australia announced a stimulus package.

Canada well we’re broke thanks to skippy sending money all over the place in good times.

Skippy is just like a drunken sailor spend and booze it up when your making money then when the shot hits the fan you sleep with the pigs.

Central banks can’t do much.

Germany negative rates.

Stimulus in A fiscal response.

[bucket]

Australia announced a stimulus package.

Canada well we’re broke thanks to skippy sending money all over the place in good times.

Skippy is just like a drunken sailor spend and booze it up when your making money then when the shot hits the fan you sleep with the pigs.

Central banks can’t do much.

Germany negative rates.

Stimulus in A fiscal response.

So will any of the money Trudeau spent all over the world have a return back to the taxpayers of Canada...can Canada repatriate the money he wasted ???? Or is there just a little kickback to the Trudeau foundation....for the walk in the snow?

Why can't the average Canadian who votes for this guy realize he is just padding his own nest and doesn't give a shit about Canada as a whole?

[SASKFARMER]

Down only 6.10 now so stabilizing.

But this is about the saudis and Russia going after USA shale. Now if the USA was like canada they would kill shale from within but this is the USA it won’t go down without a fight.

Follow the money.

Skippy is crying under his desk.

[sk_wheatking]

Seem's to me that Russia is trying to take trump down in 2020 election by flooding crude markets therefore crashing economy and creating political turmoil in u.s.!!!!

Oh, but trump is colluding with the russians, most likely to buy a bunch of bankrupt hotel properties that will turn up due to wiped out american economy.

Also, I think that the american exchange drop right off the bat could be partially blamed on the Biden family unloading their Burisma shares.

Erroll, any comment?

[chuckChuck]

Canadian oil production continues to grow.
https://www.eia.gov/international/content/analysis/countries_long/Canada/canada_CAXS.pdf https://www.eia.gov/international/content/analysis/countries_long/Canada/canada_CAXS.pdf

[jazz]

Again, I always look behind the scenes rather than the front line headlines. Corona is nothing compared to the flu. The regular flu killed more people yesterday than corona has in 60 days. So looks like MSM latched on, then Wall Street decided to shake out some week hands and margins at the same time. Looks like it backfired when the Saudis and Russians decided to throw a little oil war in there. A 1800 pt drop on the dow looks like some big guys are getting caught with their pants down.

This looks like a response to a bigger economic trade war than just what we see in the markets.

[agstar77]

Trump should phone his good buddy Putin and his fencing partner in Saudi Arabia. It would be a perfect phone call. The great dealmaker should get to work. When you get into bed with these two , you suffer the consequences.