Could oil trade at -$100!! In this experiment of money printing I think yes!!ππ΅π
Professional Analyst in oil patch predicts -$100 a barrel.....π¨π¨π¨
Crude Oil Prices at each particular shale deposit!!π
Wholesale RBOB gasoline price!π½π₯
During the financial crisis of 2008 Ben Bernanke and the federal reserve printed money and and BAILED OUT these zombie oil producers that were too in debt. In a normal world they wouldβve gone bankrupt. But, at that time nobody in the government wanted to face the music. So they saved companies that should have otherwise went bankrupt. So, THE FEDERAL RESERVE printed money and gave these companies super low interest loans so that they could survive. Coming out of the crisis during 2009 through 2011 exploration and production oil companies created jobs and pulled us out of the great recession. But they just prolonged the In evitable and today we see the ripple effects. The pain has been exponentially increased because these oil companies have more debt on their balance sheet now than they did in 2008. By doing this instead of allowing the market to feel the pain then they have built a problem that is 100x worse. And now the solvent companies that wouldβve pumped much less oil are also facing potential bankruptcies. Without bail outs the entire oil industry of America could go belly up. So due to massive money printing we have gone from Energy independence to possibly every single oil company going bankrupt in America!!!ππ΅ππ΅ππ΅π€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ¨π¨π¨
ummm too big too failπ½
If things had gone differently and they were not bailed out, maybe we would all be driving electric cars by now with lots of infrastructure in place.π
If if if
In nominal terms yes in value not a chance
I cannot believe this is happening!
Crazy stuff!!