Biden gets Fisted (Opec)

Discussion in 'Wall St. News' started by The_Krakenite, Sep 5, 2022.

  1. easymon1


    People tend to crow about how the puppet "failed" again. How do you know that he failed in what is a priority to HIM?
    These people fail to understand that "Biden" is set for life. His family is set for Generations on the wealth spun out of the Ukraine Laundry, China, 10%.

    Who gettin fisted?

    He who laughs last laughs best. It's these guys.
    Real Money likes this.
  2. SunTrader


    Crude is still lower than before he made trip, but click-baity ZH doesn't care.
  3. M.W.


    As if any US president ever had ANY influence on long term oil prices ever. US gasoline and gas should cost a fraction of current price levels according to US supply from domestic sources. Yet here we are close to a 100 a barrel. US presidents have as little influence on oil prices as they do on banana prices.

    Only the TV watching sheep believe what they told.
    murray t turtle and NoahA like this.
  4. easymon1


    Why was it so less expensive 5 years ago than now?
  5. Nine_Ender


    Easy answer the Oil bear got so bad that it drove some producers out of business and made others shift their focus 100% on profits / debt reduction and not expansion/new drilling. Throw in some banks refusing to lend them money at good terms when they needed it in 2020, and all the ideas on other energy sources in the future, and most producers have very little reason to drill new holes even at $70-80 Oil. Many of the US shale guys never really were all that cost efficient. Maybe at $100 it attracts some new production but that takes time you can't just flip a switch. Biden masked the supply issues by flooding the market with emergency supplies. Supplies that have to be paid back at some point.

    Oil companies aren't in business to keep people's gas bills down. Their shareholders want to get paid. I'm not some huge Biden critic but when it comes to energy policy both him and Trudeau are clueless. Unrealistic goals exasperating the problems they see now. As an investor/trader, I saw the opportunity and pounced. The trade is not nearly over imo.
    easymon1 likes this.
  6. Rams Fan

    Rams Fan

    The most recent run up was ignited by the extreme oversold condition as a result of the covid lockdowns. The blow off move was classic hedge fund pump and dump using the Russian invasion of Ukraine as the "fundamental" cover. It is a market like any other commodity and many commodities are in a similar long term pattern as gasoline. Some made higher highs in this most recent pump, e.g. crude, wheat; while others made cycle highs though failed to make new all time highs, e.g. soybeans, corn, lean hogs.

    When it comes to these things, you will understand more if you think like a trader than like a political partisan. It is also much easier to profit if you analyze commodity markets in the manner of Stanley Kroll rather than a CNBC or Fox News "journalist."

    Windlesham1 likes this.
  7. ET180


    So is the SPR. Right as Russia shuts off NS1 to Europe and China becomes most hostile towards Taiwan. Talk about cancelling the flood insurance right before the flood. Of course, the handlers driving the decision only care about poll numbers coming into the election / staying in power.
  8. SunTrader


    US is one of the biggest producers in the world nowadays. We can refill SPR as soon as we want to - if conditions are right.
  9. easymon1


    How many barrels would you say she's low? vs before a politician got hands on all that free "emergency national security asset" energy?
    #10     Sep 5, 2022