Crude oil skyrocketing

[errolanderson]

Natural gas futures have now collapsed nearly 20% off recent highs. European gas price bubble quite unsustainable.

There is no shortage of crude, this is a logistics / OPEC manipulated rally. Crude oil pullback could be near.

[jazz]

I have read a lot of articles about people in North America freezing to death this winter. .

Continental famine is a real possibility now as well. Every major crop in short supply and transport problems to boot.

Its going to be biblical whatever it is and I dont see a way the genie can be put back in the bottle without some major event happening to reset it all like the GFC did.

[macdon02]

I have read a lot of articles about people in North America freezing to death this winter. Something is going to give eventually and these donkeys running the show are going to be taken out behind the barn. Im not rushing to fill just yet but it'll likely be in Nov. Still sitting on a bunch from spring. Availability of anything and everything seems to be the flavor of the day. 2024 likely to be my last crop planted.

[Richard5]

So I you are all worried about the cost of fuel and food go buy some of the key oil stocks and make some real money in the meantime. Fifty grand will turn 3-5 times if oil gets above $120 a barrel. This would more than cover the cost increase in the next year or two

[sumdumguy]

Going to be a long cold winter for many in the northern hemisphere. Hopefully the wind and solar can make up the difference. Not the case in Europe though .
UN 2030 kicking into high gear now

Turn off the tap to Eastern Canada, they don’t want fossil fuels.

[Taiga]

Diesel over $1.50/L in many places now.

Waste oil: I have quite a few pails of dirty oil. Normally I would take to town and dump them at one of several places that take them, no cost to me but no payment either. Now I think they have some value, if not straight cash then I should be burning in a waste oil furnace or something.

[Austrian Economics]

The wave of bankruptcies will ensue long before it gets to $200. Demand will collapse along with the economy. The marginal consumer is nearly tapped out even where oil is presently. Marginal industrial producers don't have enough margin to ride out the storm all the way to $200.

[furrowtickler]

Going to be a long cold winter for many in the northern hemisphere. Hopefully the wind and solar can make up the difference. Not the case in Europe though .
UN 2030 kicking into high gear now

[sumdumguy]

They’ll prolly expropriate the oil wells so they can shut them down.

[jazz]

Where is the top on this? $200?

When oil hit $140 back in 2008, that was a demand driven event. Hot economy and we drilled right along side it.

This is a supply restricted event due to ESG idiots. The top could be a lot higher with no new supply going along with it and carbon tax to boot.

Going to be a lot of hungry people if thats the case. Going to be an expensive lesson.