Inflation’s Collapse

[bucket]

[QUOTE=beaverdam;543771]

Looks like the oil companies are going to finish off the climate cultists for good this round.

Fill ur tanks boys this fall.


Some drilling going on by the "juniors" in our area, but the "biggies" basically sayin' nope, we'll slow pump them.

Not in a hurry to get it out of the ground, under this unpredictable regime, why bother, until there are pipelines and less regulation on shipping exports. Everyone, now knows, we'll be using oil for decades.

Enjoy the $2-3/liter gasoline. This is a "made in North America" problem, made by government leadership/political ideology.

Its all a bunch of phucking bullshit. We could be low cost producers and actually doing our part to feed a hungry world, not that I buy into that nonsense anymore. But it really seems stupid to handcuff an industry whether it be oil and gas or agriculture and forestry products to the point that people can't make money for the work they do.

[errolanderson]

Citibank forecasting WTI crude to collapse toward $65 per barrel due to recession cutting oil demand.

[furrowtickler]

[QUOTE=bucket;543772]

Its all a bunch of phucking bullshit. We could be low cost producers and actually doing our part to feed a hungry world, not that I buy into that nonsense anymore. But it really seems stupid to handcuff an industry whether it be oil and gas or agriculture and forestry products to the point that people can't make money for the work they do.

Sad part is it fits the UN 2030 to a tee

[jazz]

Citibank forecasting WTI crude to collapse toward $65 per barrel due to recession cutting oil demand.

inflation lasted for almost a decade in the 70s, it just doesnt disappear like that errol, even if a recession hits.

The kind of deflationary recession you are talking about would need 10+% UE.

I see no govts or central banks reducing their balance sheets.

Until that capitulation happens, they are just tweaking at the edges now.

[Hamloc]

Citibank forecasting WTI crude to collapse toward $65 per barrel due to recession cutting oil demand.

But the question is will demand be below our present government induced lack lustre production levels? And if oil “collapses” to $65 a barrel, that isn’t that bad of a price historically!

[jazz]

But the question is will demand be below our present government induced lack lustre production levels? And if oil “collapses” to $65 a barrel, that isn’t that bad of a price historically!

A severe recession only takes crude down to $65. Thats pretty good actually. Past recessions have take it down into the 20s.

Inflation has been hitting mostly goods right now, because of the energy nature built into the production. It hasnt hit wages yet and lots of people will be demanding compensation to keep up. Once that happens they will have to trigger a mass layoff to reset it. And people are in a foul mood.

[errolanderson]

But the question is will demand be below our present government induced lack lustre production levels? And if oil “collapses” to $65 a barrel, that isn’t that bad of a price historically!

Lots of money can be made by the industry @ $65 oil.

Tech steps for what it's worth. Sensing a break below $100 with key support @ $93.50 per barrel. Major support @ $80 (an opinion). Citi's estimate is aggressive @ $65, but they might be right. PS: JP Morgan warned that oil prices could soar as high as $270 per barrel.

[shtferbrains]

Bears are feasting.

You a bear Errol?

Last few weeks may have been some of the quickest profits ever if you are?

[ajl]

If oil is too expensive we can just crush the remaining canola supplies. Down from $1200 to $800/MT. Staircase up and elevator down. But deflation can't happen so this must not be true. Canola is now under the cost of production in '22. I was wrong about the best investment for 2022. It was not a 4.75% GIC. Instead it is a 4.85% GIC. Eqbank.ca Maybe the BTO would like to sell a few quarters.

[shtferbrains]

SCO bear market oil ETF up 10%+ so far today.