The Era of Expensive Oil Is Here to Stay

Bloomberg2022-07-13

Even as prices drop to a three-month low, the world is still struggling to produce all the oil it needs—and the impact on global economics and politics will be profound.Southbound traffic is thick on ...

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Comments

  • Moonshot
    2022-07-13
    Moonshot
    Pure BS. None of these happened before covid so the real reason is due to the greed of corporation. They retrench workers, reduce investment when demand is low and when demand returns, they jack up the prices, shouting that they had to do this because they can't coup with the demand. If they keep their workers but reduce their salary in line with economy, none of these will happen. [Angry] 
  • hphoa
    2022-07-13
    hphoa
    Gd
  • 不死鸟.
    2022-07-13
    不死鸟.
    好的
  • Sheldon85
    2022-07-13
    Sheldon85
    Gd
  • happymoney
    2022-07-13
    happymoney
    Oily 
  • badumdum
    2022-07-13
    badumdum
    People talk about the Russian war as the cause for supply issues. Russia contributes just 13% of global oil supply. Oil prices on the contract front are elevated not because of demand and supply. Look at the futures contracts. It is the main speculation that has created the bubble. Oil is at stage 3 decline, just one step away from kamikaze stage 4. I'm still not sure why Buffett is buying OXY at such a height. I'd like to think that he knows more than all that the price action is showing right now because if he is wrong, it ain't going to look pretty on Berkshire's price too.  
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