TRUMP CONFIRMED HE WILL PUT TARRIFS ON OIL IF THE CRISIS GOES ON LONGER

you're welccome

Seriously thinking of buying 10k worth of USO when it hits 10 cents. Am I a complete brainlet?

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WTI futures are only up 4.43% lmao. Its dead

he also said he would wait it out

uh yeah that won't ever happen.

All most time to buy those 2021 calls on ultra pro oil ETF's!

But USO's contango will eat ur gainz this is so far from big brained.

?

Sorry I thought your linked post mentioned USO. UCO is a good idea.

not my post but yes you're right USO is contango fucked for a while.Sad because contango aside they are the best short term type play

That's pants on head retarded.
Tariffs will make oil even cheaper.

So would it be correct to to say that the price of oil is normally fixed by cartels and it's actually dirt cheap to produce?

Someone explain to me how incewasing taxes on oil is a good thing for oil because it sounds bad

I guess it would prevent America from being flooded with cheap foreign oil. Maybe that would help the domestic oil industries? I dunno.

It increases the value of domestic oil because cheap sand nigger oil becomes more expensive.
Also what companies should I buy? I've got 9 exxon stock, should i just buy more of that or look into an oil ETF?

you better get a fucking job so you can get some actual money in that account you 9 shares fuck

So US produces 50% of the oil it consumes.Tariffs would have following effect.
1. Domestic oil manufacturers will stop being competitive globally outright.
2. Any industries using oil will be forced to buy overpriced oil and won't be able to compete globally, because everyone else is spending much less money on oil.

At this point you have to admit Trump is a total retard and has no grasp of economics or free markets and thinks that putting tariffs on stuff solves every problem.

Well with exxon you know you wont ever lose your money so its the safest. If you wanna be ballsy you can buy calls that are as far out as you can afford and hopefully sell at a profit but of course theres a chance you'll lose all your money that way but a better chance of multiplying it

That's a bad thing. Anyone using oil will pay more, while overseas competition will use the cheap sandnigger oil and completely BTFO the US companies out of every market.

He didn't mention putting tariffs on oil derivatives, so let's say Lukoil can flood the US market with cheap motor oil, plastics and rubbers.

>Just buy the dinosaur juice bro

pic related.

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Your so confident in your shirt electric shit go all in on tesla

This is why we are in a trade war, isn’t it? Trump can afford to save the oil industry.

The us is a bet exporter of oil since last september.

Lol I do have an actual job, if you count working for your parents at 20 an hour an actual job. Ive got a couple grand saved up, once I get my stimulus check im gonna buy some cheap stocks.

No, he actually can't, because of the depression. The more he fiddles with the economy, the more damage he causes. The fed printing is already causing the housing crash.The oil tariffs will cause the US automotive industry to go broke.

I'm unironically heavily in TESLA

What's your average cost?

>Domestic oil manufacturers will stop being competitive globally outright.
How? I thought tarrifs would just apply to foreign oil entering the United States.

Because the US only produces 50% of the oil they consume, which means the domestic oil companies will have to pull out of the international markets and sell all of their oil domestically.

About $205 I went all in when it hit the $180s all the slander against Tesla was like what they tryed doing to Trump being redpilled seems key for trading

literal retard

How much of what the US produces is being exported?

But I was taught to do the exact opposite of what Yas Forums says?

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>What is a tarrif?
report this 7th grader

8.57 million barrels per day. Mostly to Canada, Mexico, Japan, EU and Brazil. While importing cheaper Saudi oil.

Why would Canada, Mexico, Japan EU and Brazil buy American oil if the Saudi oil is cheaper? Thanks for the replies I know next to nothing about this.

>Why would Canada, Mexico, Japan EU and Brazil buy American oil if the Saudi oil is cheaper?
Because Saudis don't sell their old to these countries, because they have a deal with US.

Now Saudis have supposedly allied themselves with Russians and are crashing the petrodollar by flooding the market with cheap oil. The whole tariff thing will undermine the US dominance in the Americas and fuck up the whole oil industry in the long run.

So it's not so much of a "price war" with Russia but some sort of move against the US under the guise of a price war? I'm guessing Russia sells freely to Canada, Mexico, Japan, EU, and Brazil and don't have a deal with US like the Saudis?
So you think that Trump shouldn't put tariffs and should just sell US oil internationally for the new cheap prices?

You'll get a better answer if you just search for it on google.

Common guys I am just memeing here. And I am not a native english speaker

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yes, that's exactly what it is.

Someone just tell me what to fucking buy

Right? Contango is fucking all the easy options

What the hell is contango

What will tariffs do now that demand is down across the board though? You can give american oil companies a bit of a boost, but you can't make people actually buy the gas.

Based and Elonpilled

stay away from oil and trading if you don't know.

IDC what these terms are. Just give me strike exp and ticker

if you don't know contango stay AWAY from futures or you will get FUCKED
It stops total bankruptcy

Didn't Trump say that the USA are energy independent and don't need to import oil anymore?

prices are so low that its cheaper to import