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Comments (156)
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183
rimper 183 points ago +183 / -0

Say what you will, but the guy is definitely a winner.

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TheMAGAnificent 92 points ago +93 / -1

Trump literally is the only man smart enough to maneuver this madness. What a genius, and I say this non-ironically.

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HockeyMom4Trump 14 points ago +14 / -0

Agree. Genius.

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CommiesAreSubhuman -4 points ago +6 / -10

Fellas,

The SPR hold 727m bbls. There are currently 635m bbls in storage. Leaves about 92m bbls of usuable space. ....which is anything but "plenty" of room.

Also, this does not "hurt" SA or Russia in any way. It just allows us to store an additional 90m bbls of oil at a cheaper price.

Can we lay off the circle jerks.

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RatioInvictus 10 points ago +10 / -0

You might be missing the point, just a little. Saudi Aramco's breakeven production cost is, realistically, $40/bbl; optimistically $35/bbl. Best case scenario (for them), if the U.S. fills the SPR, it costs the Saudi's $1.4B in losses, and it props up U.S. producers. That may only last for a week, but the Saudis' cash reserves aren't infinite. They wanted to hurt Iran, drive U.S. (shale, in particular) competitors out of the market, and hurt Russia.

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deleted -1 points ago +3 / -4
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Centipedealicious 3 points ago +3 / -0

Go back to reddit.

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TampaMAGA 62 points ago +62 / -0

Holy shit, did this actually happen? I was worried about this oil dump.

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Kolob 50 points ago +50 / -0

Yes, it was in Trump's speeches

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TampaMAGA 25 points ago +25 / -0

Fvck yes!

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st3aly0urfac3 15 points ago +15 / -0

^ underrated reply

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GilaMonsterous 22 points ago +23 / -1

That man is brilliant. Two birds one stone.

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st3aly0urfac3 14 points ago +15 / -1

one scoop per gender

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doodaddy 28 points ago +28 / -0

He mentioned during his first (?) covid task force presentation. He said, if they want to sell it so cheap good. He bought it all.

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TampaMAGA 8 points ago +9 / -1

Was that the right move? I don’t know how all of this works

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ParkingLotRanger 28 points ago +28 / -0

Yes. Since he bought it all cheap it gives Trump leverage to release some if gas prices are too high and keep it stored if prices are too low.

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ProdigalPlaneswalker 18 points ago +18 / -0

"Look at me. I'm the market maker now."

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TampaMAGA 10 points ago +10 / -0

Awesome! Thanks brother

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jive-ass-turkey 16 points ago +16 / -0

Buying crude oil at 1995 prices is rarely a bad investment. You don't need to be Alan Greenspan to wrap your coconut around that.

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Spacecherub 89 points ago +89 / -0 (edited)

Trump and Saudi Arabia are allies against the Russian/Iranian partnership. Trump did take advantage of the situation like a BOSS, but Saudi Arabia's ultimate goal is to fuck with Russia's oil industry.

Does anyone wonder why Trump doesn't condemn or publicly support Saudi Arabia besides his foriegn policies? He doesn't want to politicize a valuable relationship in the middle east. Iran, Russia, and China is our enemy, and every action Saudi Arabia/Trump has made is to counter their imperialism.

Edit: purchasing oil from Saudi Arabia at low prices is a plus for both of us. Saudi Arabia trusts Trump with their weapons, security, industry, and military operations. The oil Saudi Arabia has can last for decades, they're flooding the market with a sliver of a fraction of what they own. Saudi Arabia will continue this operation until Russia concedes, which is a win for us.

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ProCannonFodder 35 points ago +35 / -0

Seems to me I remember Trump speaking with MBS just before they made this move. So I think you are right and Trump obviously gave the "go-ahead"..

4
K-Harbour 4 points ago +4 / -0

The amount of funds that go to his rival relatives depends on oil price. He needed to trim the wings of his rival relatives —- crash the prices for a while.

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IntrepidBurger 32 points ago +32 / -0

Specifically, he's allied with Mohammad bin Salman, the new ruling prince. There are still Saudi snakes in the weeds but Trump is helping MbS in exchange for his support elsewhere.

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Toohershat 25 points ago +25 / -0 (edited)

Al-Waleed bin Talal, a big critic of Trump and MbS was arrested and reportedly hung upside down and beaten. Oh, and he was the richest Saudi at the time who just happened to own a huge percentage of Twitter stock. Reportedly he paid billions to be released, and you could more or less say he's been put in his place.

It's a cold world, and our president knows how to navigate it to keep us safe.

Edit: Flashback to before MbS purge https://i.imgur.com/LV170d1.jpg

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IntrepidBurger 21 points ago +21 / -0

Dopey prince tweet is one of the greatest of all time.

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Pedeville 16 points ago +17 / -1

Saudi has been arresting a ton of Princes after Trump got elected as well

17
TheMAGAnificent 17 points ago +17 / -0

After Last Vegas.

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SemperFree 4 points ago +4 / -0

I thought the snakes were purged?

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StumpSmasher 9 points ago +9 / -0

There's probably a LOT of snakes, and some of them are more subtle than others. Just look at our Obama holdover in the State Dept. who did his job for 4 years until he saw an opportunity to fumble a major virus outbreak with that cruise ship!

11
Bestboy143 11 points ago +13 / -2

Saudi Arabia are our allies, yet they have been systematically funding terrorism (even publishing terrorist textbooks for children) for decades and are not a true ally. Didn't 17 of the Saudi MILITARY OFFICERS on our naval base get caught with child porn while all of them frequented terrorist sites. This is ingrained in their people and government.

I've been wondering why Trump has been so Saudi friendly, and I'm not happy about it. I am guessing there are some behind the scenes promises of change from them.

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Dsnazzy 12 points ago +12 / -0

Everything has changed after 2016 - the Saudi swamp was the first to start getting drained, and MbS is the reformer the region certainly needs. Their past is terrible, but their future is bright...

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mathteach314159 8 points ago +8 / -0

Its a lot easier to drain their swamp. Not as much red tape and it is common for authoritative and even violent changes in power.

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raananh [S] 4 points ago +5 / -1

Saudis also did the Oil Embargo against the USA in 1974!!!

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TolandsKin 2 points ago +3 / -1

Right now, oil prices being so low is absolutely crushing our economy. I'm in a part of the country where absolutely everyone is somehow connected to oil, and this is devastating every business. I appreciate you and OP educating the rest of us on how this is going on, but would you mind expanding for me a little bit to help me understand how long this will last (any estimates) or is it totally dependent on Russia conceding? Dirt cheap gas prices are a very bad sign in my part of the country.

2
Hawkman 2 points ago +2 / -0

I believe it’s dependent on Russia conceding but Trump is doing his best to shore up our oil reserves and help out the industry in the meantime.

0
cmndr_pepe_spacefrce 0 points ago +1 / -1

Oil people really want everyone else to buy how bad low oil prices are for everyone while it helps every business but theirs. Oil companies raked us all over the coals for decades while there has always been more than enough supply that they artificially kept low to keep raping us. Demand will go back up and so will the prices. Dirt cheap gas is helping the increased shipping going and prices affordable for needed supplies.

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TehAgent 1 point ago +1 / -0

Yeah I dont think the Saudis want to crash our economy. Russia and Iran, sure.

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deleted 27 points ago +31 / -4
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deleted 42 points ago +42 / -0
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deleted 41 points ago +45 / -4
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deleted 21 points ago +22 / -1
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DarkMemeDuck 7 points ago +8 / -1

I'm with you. I'm kind of done listening to all the baseless Q larping. If there isn't a source, my first reaction is "Well, that's awesome if it's true. It's also probably not true."

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deleted 4 points ago +6 / -2
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MakeAmericaGreat9 4 points ago +6 / -2

Of course there is concern trolling dude. People are out of jobs. What do you expect those of us who are laid off for who knows how long to do?

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HungNavySeal300Kills 7 points ago +8 / -1

Learn to code.

Seriously though, I was driving trucks now I'm planning a global supply chain due to my excel and programming skills. Unemployment in between shitty jobs was the only time I made big leaps. Took me 6 months to get capable, about a year to do very cool shit with cloud servers and websites.

There is a huge jobs boom right now with IT companies needing foreign workers like crazy. Americans for some reason would rather work as waiters and pool boys. They think computers are beyond them. Sad!

Lots of free time for millions of americans is coming up, but how the rest of their lives will look like is up to them.

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MakeAmericaGreat9 7 points ago +7 / -0

My job is paying us for two weeks. I imagine after that we're going to need to lay off everyone. If they don't bring us back I'm high considering either a job in the trades or a job in coding.

I have no idea where to start for a job in coding though.

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HungNavySeal300Kills 6 points ago +6 / -0

Ok, don't worry about it but keep poking at it. Dozens of companies worth trillions of dollars are desperately wishing you could code so there is a crazy amount of excellent programs offered for free etc.

Trades is also a great option, it's good for people who are hands on and like being their own boss. Takes a while to get there in tech or white collar.

However if you're looking at tech, you have a few technical career paths. Front end, back end, full stack, web dev. Etc.

You can even combine trades and tech and become a network engineer.

For immediate work, trades as an apprentice is your best bet. You need some technical foundation to get the entry level IT jobs. Which you can get from coursera. Check this out today!!!

https://www.coursera.org/professional-certificates/google-it-support

I personally highly recommend https://www.udacity.com/

A tech career is kinda like being a race car driver, no one is going to want you when you're learning but give it a couple months and you can do amazing shit and make it look easy. It will take discipline and a constant drive to learn more and always expand your portfolio with more projects in new skills.

Trades is looking for a master craftsman. But they know you're an idiot who cant be trusted so they'll make you fetch wrenches and drive them around like a chauffeur. All good things come in time. After a few years you start your own business and have your wife manage it. Easy money. Can never be outsourced.

Whatever you do, do not get dejected. That's what our enemies want. Read history and understand that we can survive on potatoes and one outfit of clothing, but instead we decided to build spaceships once we escaped serfdom. Globalists want us back to being serfs, not me I say.

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GreatNW 5 points ago +5 / -0

Trades is looking for a master craftsman.

This sounds like much better advice. The demand is for great coders, and frankly for the vast bulk of people unless you have a real interest/inherent personality type you won't ever be a great coder, likely never even be a good one unless you're really into it.

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deleted 1 point ago +2 / -1
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GreatNW 3 points ago +3 / -0

As a lifelong techworker who has had titles ranging from programmer/data scientist/systems engineer/software company manager... you do realize that there is a hard limit on tech jobs right? Like it can never be more than maybe at most 20% of the workforce (barring some future dystopian robot takeover).

There just isnt THAT much tech work to do... The demand is for good coders, not people who took an online course to find a job.

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freedomconnoisseur 13 points ago +13 / -0

The purchase is true. Some of the analysis is bullshit. The Saudi's and Russians were in a price war. It had zero to do with targeting US oil to try to put them out of business.

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DarkMemeDuck 6 points ago +6 / -0

At the very least it looks like Trump got our oil reserves back, and that's a very good thing.

2
MAGADITTOS 2 points ago +2 / -0

You don’t know. It’d be brilliant from Trump’s perspective and I think he and MbS work a lot closer than is let on. We sell Saudi’s cheap weapons, from what I’ve read they started the price war (at Trump’s direction is the speculation) and sell us cheap oil, Russia and Iran get simul-fucked, US and Saudi’s both profit.

3
nutup_orshutup 3 points ago +3 / -0

The hole I see in this theory of being intentional is that Trump would know that an oil slash coupled with a correction level stock market would further crash the market and send pre-recession signals.

As good as he is, you can’t be 100% sure of macroeconomic and crowd psychology once an event kicks off.

I think Russia made their move independently (or with China and the democrats) to further stress the system and crash Trump’s economy.

Saudi Arabia knew that their next best move was to match Russia and let Trump know about it.

Trump, the apex business predator that he is, saw the opportunity to do all the things mentioned in that article as opportunity outcomes.

2
MAGADITTOS 2 points ago +2 / -0

I like your theory tbh. But, I’ve noticed Trump does things he know will hurt them market under the cover of an already hurting market. Just look at 4Q18.

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deleted 0 points ago +3 / -3
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Razeontherock 22 points ago +22 / -0

It's great that people on .win keep us informed!

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deleted 16 points ago +16 / -0 (edited)
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IronMaiden 3 points ago +3 / -0

The free market can be a wonderful thing, can't it!

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deleted 2 points ago +2 / -0
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MAGANatsFan 9 points ago +9 / -0

Yes I did see the small article about refilling the SPR, it was small but not too small for pede eyes.

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Bramble 9 points ago +9 / -0

This isn't even 4D - it's like SA thought "man if we sell oil for super cheap that'll stick it to one of the larger world consumers of oil!!!!"

Trump: "Huh, oil is super cheap right now - good time to stock up. Buy low sell high"

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flyover_deplorable 8 points ago +8 / -0

Gas is $1.49 locally here. Nebraska.

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wrongaddress 5 points ago +5 / -0

Wow, cheaper than here in TX ($1.78 - Dallas Metroplex).

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JimDandy 3 points ago +3 / -0

$3.48 in Calif. Fill 'er up.

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-Lumenatra 3 points ago +3 / -0

$ 5.83 in Euristan, converted. Every American state's gas price sounds good from our end.

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C_Jonesy 3 points ago +3 / -0

I just heard it’s $.99 in Kentucky.

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HiddenDekuScrub 5 points ago +5 / -0

Honestly, part of me thinks Saudi Arabia was also picking on Iran since they're at an especially low point right now. But that's just my guess. shrug

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MAGADITTOS 3 points ago +4 / -1

Definitely, here US and Saudi’s profit while Iran and Russia get simul-fucked.

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RohdKill_PA71 5 points ago +5 / -0

Paid $2.19 gal yesterday! Woot!

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crobbies 5 points ago +5 / -0

Saudi and UAE might flood 3 to 4 Mmbd into the market for several months. I think the SPR can absorb about 70 Mmbbls. This means we can suck up about 17 to 23 days worth of their increased production. It helps for sure, but their plan might be to prolong the pain for several months.

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deleted 1 point ago +1 / -0
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wrongaddress 5 points ago +5 / -0

With the "China is Asshoe" move of keeping back medical supplies and over taking our supply chain, we are going to need all the petroleum to make factories, plastics, etc. back in the US to become self reliant again.

Someone can fact-check, but I think it is easier (quicker) to ship the oil from SA than try to pump it out of the ground here at the rate we will need for construction setup.

At the same time, we can keep our oil production running at the same rate for our day to day use. PS - not an economist, just a patriot.

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Cardinal451 5 points ago +5 / -0

Possibly one more level.

Just paid millions in U.S. currency is a good motivator to prevent them from trying to devalue the Dollar during the present crisis.

Anyone who knows international currency exchange well think this is valid?

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pc4unme 4 points ago +4 / -0 (edited)

Obama and his congress sells off some of our reserves to fund the governent.

The U.S. Department of Energy said on Tuesday it has suspended a sale of up to 12 million barrels of oil from the government’s emergency crude reserve due to the petroleum price drop. The sale had been mandated by a 2015 law to fund government programs.

President Trump will direct the Energy Department to buy oil for the nation’s strategic stockpile to boost prices and help the oil industry reeling after the market’s historic collapse this week.

TLDR:

Obama and his congress sell of reserves to fund government programs. US DOE suspends the sales as oil prices drop. Trump buys the cheap oil to stock up reserve again, to help oil prices hurting American companies (stock market).

Having reserves allows us to respond to price manipulation by Saudis. If they raise prices, we sell to counter. If they lower prices, we buy to counter.

One thing to note, the reserves were created in response to us being 100% dependent on importing oil.

We are no longer dependent on imported oil - we can produce our own.

The reserves are useless, except as a way to affect the oil market. And provide a bit of a check on the Saudis.

With all of that said, the virus and imminent slowing of the economy will make the demand for oil drop, pushing prices down more.

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Hexagon 4 points ago +4 / -0

Should just keep buying it to sell when prices go back up, which they will.

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Pirate_Lafitte 4 points ago +4 / -0

I think cratering oil prices hurts them more than us.

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deleted 4 points ago +5 / -1
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BigPimpins 4 points ago +4 / -0

That glorious bastard... I love it!

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Kolob 3 points ago +3 / -0

I noticed that move, Trump was very public about it. He is a very stable genius

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trauncher 3 points ago +3 / -0

Brilliant!!!!! we have such an incredible President.

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Alpha 3 points ago +3 / -0

Bloomberg is a businessman, not good enough.

Trump is a businessman, an alpha male and a patriot.

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OhLollyLollyPop 1 point ago +1 / -0

Bloomberg makes more money in China than here. This is why he pushes China's propaganda to get rid of our 2A rights.

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Kryzine2 3 points ago +3 / -0

THIS! Is why I love coming here!

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Former_RM2 3 points ago +3 / -0 (edited)

The Saudis probably aren't trying to hurt the American oil market. They tried that several years ago and it didn't work. Why didn't it work?

Well pedes, most of America's oil wells are now shale oil wells. This has advantages and disadvantages. The biggest disadvantag is that it requires a fairly high price of oil for the wells to be profitable. As the OP states, around $30/bbl is the break even point. Anything lower and the wells have to be turned off. This brings us to the advantageous part of shale oil. Shale oil wells can be turned off and on like your water faucet in the kitchen. This is not normal. Most traditional oil wells cannot be turned off without losing the entire well in the process. That means a new well would have to be drilled in order to access that oil after the previous well had been capped.

The Saudis and the rest of OPEC learned this the hard way back in late 2015. They tried to drive the American shale oil companies out of business by dropping prices really low. Sure, some underfunded and high leveraged companies did go out of business, but their wells remained ready to use and were sold to other companies. The US oil industry just waited the Saudis and OPEC out. They knew that eventually prices would have to go back up, and they did. When that happened, the wells were turned back on.

America's oil industry is now very large and virtually indestructible.OPEC has a small fraction of the power it once had and with more shale oil wells being opened up in this country and around the world, OPEC's influence continues to wane.

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krzyzowiec 2 points ago +2 / -0

They're trying to hurt Russia for not agreeing to production cuts, we're just collateral damage. Trump mentioned that they were aware of the situation and working on a remedy for the shale oil producers.

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Former_RM2 2 points ago +2 / -0

Yeah, they can hurt Russia a lot because Russia's oil wells are traditional and they are in the far north of Siberia which makes the overhead on those wells quite high. Capping those wells is not an option for Russia as drilling new ones will be very expensive and in the mean time, Russia wont be producing anything. Russia will have to eat the loss for as long as they can and it's going to be a big financial strain on their oil industry, and by extension, their economy.

Cutting prices will certainly be a big threat to Russia, but not so much to America.

...or, Russia can just give in to the Saudi's demands.

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dneal1975 2 points ago +2 / -0

You can't Stump the Trump!

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RedNonna 2 points ago +2 / -0

There are no words for how great this President is!!

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deleted 2 points ago +2 / -0 (edited)
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Chalupamancer 2 points ago +2 / -0

Buy low sell high.

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neodeplorable 2 points ago +2 / -0

Is there nothing this man can't master?

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redstampede 2 points ago +2 / -0

I love this man. Eight more years!

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TheMadManDidItAgain 2 points ago +2 / -0

Ok, this gave me chills, I didn't know this. What a mad man!!!

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Langtath 2 points ago +2 / -0

So the president basically drank Saudi Arabia's milk shake.

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okayfilet 2 points ago +3 / -1

Trump is a brilliant businessman, not a poltician, and it shows in stuff like this. Great move.

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rplgn 2 points ago +2 / -0

smart businessman and executive. gotta love trump :)

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Choppermagic 2 points ago +2 / -0

Im also trying to figure out how i can cash in the cheap gas. I wish i had a tanker to fill up while the prices are so low!!!

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HungNavySeal300Kills 1 point ago +1 / -0

It's possible oil will decline to negative prices, in which case the cost of storage exceeds the cost of selling it which is under the cost of manufacture.

In other words they will be paying people to take it off them....

1
C_Jonesy 1 point ago +2 / -1

So then will they start paying me to fill up my tank? That’s more like it! 😜

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HungNavySeal300Kills 1 point ago +1 / -0

Unfortunately literally never, truckers will always need to be paid so the minimum price is for a trucker to pick it up from the plant and for the gas station to run his business and dispense it. But we'll get close!

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Titan93 2 points ago +2 / -0

That's awesome, he was probably rubbing his hands together with a smile lol.

Can someone update me on US oil production during this whole debacle? I'm Canadian and here in AB one of our biggest oil operations is shrinking their crews and considering just having a skeleton crew to reduce chinese virus outbreaks

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Marshall 2 points ago +2 / -0

I love having a businessman as President.

Politicians can't figure out the old Buy low Sell high thing.

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ParkingLotRanger 2 points ago +2 / -0

Their usual thought is to buy high then give free shit to our enemies.

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Keep_on_winning_kag 2 points ago +2 / -0

There was a video conference within the last week where trump mentioned buying all of that oil and filling our reserves right up to the top.

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BonerDonor 2 points ago +2 / -0

I don't think it was enough to stop the oil war but hey, we filled the strategic reserves for cheap, and can use that to pay for the stupid stimulus package if oil prices go back up.

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Butthurt 1 point ago +1 / -0

Awesome but I need a source for video on this

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deleted 1 point ago +1 / -0
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master_of_experts 1 point ago +1 / -0

Russia doesn't have to be our enemy.

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r3dditblowz 1 point ago +1 / -0

4-D chess master

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deleted 1 point ago +1 / -0
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daniel1116 1 point ago +1 / -0

Holy shit that's awesome. And no I heard nothing at all about this.

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2honks 1 point ago +1 / -0

I think this will be one of the takeaways from this event in the history books. When we reflect back in a few years we will say, "holy shit, that was a genius move."

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chopz 1 point ago +1 / -0

Trump always wins. Also, Oil is measured in barrels

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TheContrarian2 1 point ago +1 / -0

News articles are suggesting that this oil is being purchased from US producers at higher prices.

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mishaclara 1 point ago +1 / -0

Gas is $1.80 a gallon. Due to wise decisions when Trump economy was highest I paid off all my debt and gonna buy buy buy now cause its going up again when this panic is over. See SARS 2003.

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PotentialWizard 1 point ago +1 / -0

I did notice that when Trump said it, and it was a smart move. But Russia and China still fucked the US with their price war. We need to remember that. (And I thought Putin was Trump's friend...)

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BannedbyR 1 point ago +1 / -0

Huh? I think cheap gas is good for the economy

0
justwinning 0 points ago +1 / -1

The US is a net exporter of oil now and the #1 oil producer in the world. Oil at these low prices actually hurts our economy.