Recent comments in /f/worldnews
FaggiusBile_ t1_j8d5utr wrote
Reply to comment by Phiarmage in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
And why didn’t they drill? Because they have shell shock from 2014, oil companies aren’t reinvesting their profits in new wells.
Source petroleum engineer for the feds
Phiarmage t1_j8czqry wrote
Reply to comment by fwubglubbel in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
Tl;Dr: Record profits appear unproportional and exploitative in regard to recent inflation.
Record profits within the oil industry and the subsequent drop in prices after quarterly SEC filings were published suggest that the original record price increases were not inflation. More than likely the majors took advantage of several aspects in the world economy during the last 3.5 years.
Increases in profits were not proportional to inflation. Hell, even supply and demand curves, in conjunction with rig count statistics, suggest production rose with demand until 2022, at which point companies slowed new drilling on already obtained permits (federal and state).
fwubglubbel t1_j8cw756 wrote
Reply to comment by Phiarmage in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
?????
Phiarmage t1_j8cu5n4 wrote
Reply to comment by Moranic in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
Yep, and record profits suggest it wasn't inflation.
X-Files22 t1_j8cqono wrote
Reply to comment by drbluetongue in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
Or by the barrel. But click bait articles live on.
X-Files22 t1_j8cqn0x wrote
$79/barrel is a drop in oil prices?
Kalt4200 t1_j8conxg wrote
Reply to comment by drbluetongue in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
Rises like a rocket and drops like a feather
Moranic t1_j8co1ha wrote
Reply to comment by Shillofnoone in Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
In isolation it's good, but they're worried it's caused by inflation reducing demand, not greener policies. People can't afford oil so demand drops.
People being unable to afford stuff is generally a bad thing.
Shillofnoone t1_j8cds8l wrote
What is wrong with these news outlets, isn't that good. Less oil mean less pollution and these news outlets constantly post about shell and BP profits all the time .
[deleted] t1_j8cdb6g wrote
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drbluetongue t1_j8cclyf wrote
Weirdly it's not dropping much at the pump lol
addictedtolols t1_j8caa8r wrote
i was told oil was hitting $200. so i sold my kids to buy shovels to dig a big pit in my backyard to store all of the oil i'm going to buy!
Poggse t1_j8c6k2v wrote
It's like a smoker on their death bed worrying about cigarette prices in 100 years 🤣
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lilrabbitfoofoo t1_j849yta wrote
Reply to comment by gaukonigshofen in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
Temporarily. Other producers will respond.
This is Vladolf Shitler cutting off his nose to spite his face again.
lilrabbitfoofoo t1_j844s9b wrote
Reply to comment by gaukonigshofen in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
Temporarily. Other producers will respond.
This is Vladolf Shitler cutting off his nose to spite his face again.
Yelmel t1_j822lu4 wrote
Reply to comment by der_titan in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
Especially if you're a net producer.
findingmike t1_j81t1vs wrote
Reply to Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
Probably not going to have long-lasting effects since oil demand is also dropping.
gaukonigshofen t1_j81oyof wrote
Reply to comment by Varolyn in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
actually they do benefit. not financially. increase cost to consumers and increase consumer frustration
silverfox762 t1_j81o9u8 wrote
Reply to comment by Cr33py07dGuy in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
Yeah, he's right about a bunch of stuff, he's just wrong that "it's all going to fall apart in a matter of days". Things will happen negatively, in many markets, but corporate profit motive in the west and Asia will do its damnedest to find other sources of whatever products and resources, and will find ways to mitigate things... and they will largely succeed. What will happen is wealthy people and wealthy countries will continue to be wealthy and get wealthier, and everyone else will gradually increase their speed circling the drain.
Cr33py07dGuy t1_j81fi74 wrote
Reply to Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
OK that’s one more point to Mr. Zeihan. He’s still wrong about a bunch of stuff though hmff.
Varolyn t1_j81cv7n wrote
Reply to comment by gaukonigshofen in Russia to Cut Oil Output in Response to Western Sanctions: Russia’s deputy prime minister said the country would reduce its oil production by about 5 percent, an announcement that sent the price of oil higher by DoremusJessup
But Russia really won’t benefit from this. Urals is still selling much lower than Brent or WTI and cutting oil production will only hurt their own revenues.
[deleted] t1_j8dcowa wrote
Reply to Oil falls on demand worry as 'make or break moment' approaches by HalfPrime
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