Miscellaneous And Off Topic Subjects

[Dr. Strangelove]

PDJT is done. If the Ds nominate Sanders it's going to be another awful 4 years.

Take heart. Two Michigan polls in the past 24 hours showed Sleepy Joe up nearly 2 to 1. And he's up big in Missouri. There's an outside chance he could even win Washington.

[Dr. Strangelove]

Also, make no mistake, the Saudis and Russians ARE at war with each other, but this move is an attempt to exterminate lots of US shale producers as well. And it's likely to work.

[Hannibal]

Ain't nobody going to win a price war with Saudi Arabia. I think that their cost of production is under $5.00/bbl.

[iam416]

Take heart. Two Michigan polls in the past 24 hours showed Sleepy Joe up nearly 2 to 1. And he's up big in Missouri. There's an outside chance he could even win Washington.

It's all I got right now.

[Dr. Strangelove]

Ain't nobody going to win a price war with Saudi Arabia. I think that their cost of production is under $5.00/bbl.

It's single digits, yeah. Although they have a pretty aggressive national budget (they are a major weapons purchaser after all) and so to maintain that they need considerably higher than $5.

But the bottom line is you're right. No one can go as low as they can. Russia, perhaps bluffing, claims they can last about 7-10 years at these prices. A lot of shale drillers in the US, already drowning in debt, would be lucky to make it a year.

[iam416]

It's the way of the world. The oil/gas wil be there. When it becomes cost positive to remove it, it will be removed. But, yes, being a "small" time player in the energy field -- so dependent on the whims of such ginormous actors that aren't necessarily bound by rational market decision-making. Yikes.

[Dr. Strangelove]

Incidentally this should also have a pretty negative impact on all "green" energy companies as their relative cost just skyrocketed. Tesla, for example, is down almost 14% overnight

[iam416]

Right. Cheap energy is cheap energy.

[Dr. Strangelove]

Futures trading was halted overnight but the ETF's are now indicating that the DOW and S&P could have trading halted immediately for 15 minutes right at opening bell.

Another bit of craziness is that for the first time ever the yield for every length of bond has fallen below 1%. And the 30-year didn't just tiptoe across, it crashed through. It's below 0.85% right now. Just a week ago they were talking about how it was uncharted territory for the 10-year to be below 1%.

[froot loops]

Isn't the Saudi Arabia news just the straw that broke the camel's back? The bigger story is the demand shock of this virus.

[froot loops]

PDJT is done. If the Ds nominate Sanders it's going to be another awful 4 years.

At this time (9:30 AM 3-9-2020) Sanders is more done than Trump.

Even with a Sanders presidency, he would at least attempt to do some presidenting.

[Hannibal]

The market plummeting because of oil prices isn't rational. Cheap energy is great for everybody outside of the energy business.

And short of shutting down every business and school in the world there's not much that can be done to contain the virus. IMHO governments need to be entirely focused on making sure that they have adequate facilities and supplies to treat those who fall ill.

[iam416]

The market plummeting because of oil prices isn't rational. Cheap energy is great for everybody outside of the energy business.

And short of shutting down every business and school in the world there's not much that can be done to contain the virus. IMHO governments need to be entirely focused on making sure that they have adequate facilities and supplies to treat those who fall ill.

Correct on all counts.

[iam416]

At this time (9:30 AM 3-9-2020) Sanders is more done than Trump.

I hope that's true for all times going forward.

Even with a Sanders presidency, he would at least attempt to do some presidenting.

Yeah, well, this is what horrifies me. PDJT doesn't do anything. I would not be so lucky with Sanders. And if he won, he'd have the Senate, too. It'd be a disaster.

[Dr. Strangelove]

Pretty sure Trump's tears would cure COVID-19. Too bad he's never cried.