He’s saying fuck you to opec because they cut production hoping to boost the price and instead it dropped.
It’s just like when the boosted production during the price spike trying to lower the price, and it only made the price go higher faster.
::buying more DIG and DXO::
I am amazed that the inverse mentality (the market does exactly the opposite of what makes sense) has spread from equity to oil now. Dollar got hammered. Supply cut. Oil goes down.
Oil $37.96 -2.10
:tspry:
enjoy it while it lasts
:tup:
lol this is the reaction to OPEC saying they are going to cut production…ili
$36.22
Oil fell below $34 on Friday to its lowest level in almost five years as the global economic slowdown overshadowed OPEC’s record supply cuts.
U.S. light crude for January delivery fell $2.64 to $33.58 a barrel by 6:50 a.m. EST. It earlier touched $33.44, the lowest since early February 2004.
:fuckyouopec:
I have mixed emotions about this though. When it gets this low, it means things are going to change, and not for the better. I was so happy with ~$60 bbl
Ugh these low prices will directly effect next years bonus. I hope it goes back up! HA
So, if you had $10,000 right now, would you buy up some stock in oil?
well it obviously will go back up at some point in time…
Something to think about, if you had a 1964 quarter you could buy a gallon of gas right now.
shit gas is too high in ny still, its finally coming down to a sane price, it should never go above 2$ a gallon again or companys are making excessive profits.
WAT
Why don’t I get that?
with the way wages ect are now a days, a quarter then is equivalent to the price of a gallon of gas now.
Because our money used to be based on gold and built from silver, etc.
The silver in a 1964 quarter is worth about $2.00.(A newer quarter no longer contains 90% silver)
Our money now is basically worthless compared to several decades ago.
Our dollar is worth about $.02 compared to about 80 years ago.
It’s worth 8 cents compared to 80 years ago.
I’m playing with trend lines on the consumer price index since 1913. There definitely seems to be a step change in inflation after we ditched the gold standard in 1971.