I saw some guy's saying this is Trump's fault but how exactly? Also isn't it good? Like 10 years ago everyone was complaining about how oil was so expensive but now we have a free energy source. If it is Donny's fault shouldn't we be thanking him?
I saw some guy's saying this is Trump's fault but how exactly? Also isn't it good...
Jack Anderson
Brandon Cox
Sorry I didn’t catch that. Get his wrinkled balls out of your mouth first
Nicholas Kelly
Low oil price means less demand for dollars. Petrodollar BTFO
Colton Lopez
How? And why is that bad?
I thought this was a result of the global shutdowns due to the pandemic.
Jayden Mitchell
the worlds geopolitical balance is held together by no one being able to challenge the usd petro millitary dollar
oversupply and collapse in demand due to covid to the point that buyers are being paid to buy oil means that usd petro military dollar is not strong and could be challenged aka ww3.
china is a bubble and has no option but to expand or die.
They launched yuan petro futures redeemable in gold in 2018
they have been militarily expanding in the south east china sea.
No one is to blame although some people probably think they are the architects of this situation.
Connor Bennett
Virus is a cover. Saudi Arabia and Russia have been in a production war, drowning the market in crude. The Plandemic is just more fuel for the fire.
Jace Robinson
Implying companies are going to PASS THE SAVINGS ON TO YOU god how stupid are you, increased profit margins + shareholder dividends, they’ll throw out some excuse like ‘increased regulatory fees’ ‘unforeseen expenses’ ‘developmental costs’ to appease the unwashed masses who’re wondering why prices have hardly changed
Kayden Reed
Justin Harris
>Petrodollar BTFO
Not really
Michael Gutierrez
here is your answer
Bentley Jackson
>aka ww3
not gonna happen retard. If anything we end up in Communism. The virus is for (((them))) even more useful than a WW would be at this point
Michael Richardson
It is certainly not bullish.
Asher Long
The Saudis started flooding the market with oil before corona hit. Some serious Murphy’s Law is going on in the oil market rn.
Adrian Bennett
Fuck drumbf;
I voted hilldawg
Zachary Cruz
>It is certainly not bullish.
I agree. But it is not that easy.
The Dollar might collapse from other things though. The fact that oil prices deflate is part of the problem. But so is the printing of the FED.
See here:
Thomas Young
fuck voting
All my homies stay at home and read Q user
Brody Cooper
Can you explain what the petrodollar is? How is USD connected to the price of oil? Also how would a develuation of USD lead to the collapse of the modern world and ww3?
Nicholas James
if the collapse of the usd does not result in ww3 the usa is completely corrupt
Alexander Morales
>if
i think either way it is pretty corrupt dawg
James Lee
agreed
Benjamin Turner
Low oil cost means the oil companies don’t have sufficient profit margin to sustain their operations, amongst other more far reaching global consequences.
Low oil prices also hurt the green sector directly, as there’s no longer a cost savings for consumers to go to green energy.
Do any amount of googling and you’ll understand
Christian Young
>saying this is Trump's fault
it is his fault cause he won't dump CRUDE INTO THE FUCKING OCEAN SO I CAN GET A PUMP TO GET OUT OF MY SHITTY FAGGOT POSITION THAT'S BLEEDING MONEY. He has Jerome working the printers 24/7 but he can't help a niggy out with dat texas tea? Fuck him, I hate him.
Kevin Ortiz
Tyler Foster
this
>if the collapse of the usd does not result in ww3 the usa is completely corrupt
My weet summerchild. It is all orchestrated
Parker Rodriguez
What's going on here it's not the damn fault of Trump or Trump's team. The truth about it is what the ex presidents did to your country. Anyone who can THINK, anyone who can READ, was capable of seeing the economical crisis forward us at least in 2018.
Noah Taylor
>economy is good
nice job trump
>economy is bad
you see, things are more complicated than blaming the president for everything
Caleb Jones
>Can you explain what the petrodollar is?
Oil gets traded in Dollar. Because of that it is called Petrodollar. It is so to speak "backed" by oil. A country need Dollars to buy Oil. Watch a fucking video. Before all that there was the gold standart.
>How is USD connected to the price of oil?
It is the world reserve currency. It is backed by oil and military.
before that it was Gold.
Again watch a video or use Google. It is too much to explain here in detail.
>Also how would a develuation of USD lead to the collapse of the modern world and ww3?
Use your brain for this one.
William Reyes
>Oil is now at negative levels. That means you get PAID money to buy gasoline! Thank you Donald Trump #KeepAmericaGreat
-Charlie Kirk and other MAGApedes
Caleb Smith
up until 1971 the usd was reddemable in gold, countries started to make a run on the bank so to speak on the usd when it became clear the us had used all its gold reserves to win the cold war. Nixon ended the redeemability of the usd in gold to prevent the total collapse of the usd. This however meant contracts priced in usd where now meaningless in terms of value because the value of the usd was not defined by anything so people started pricing oil in gold.
in the late 60s the arabs began to use their control on the supply of oil to fuck with the us in retaliation to Israels expansion. This embargo and the crazy price action of the usds value not being defined by anything caused the oil shock energy crisis of the 1970s. The eventual solution to this situation was the creation of the petro dollar in which opec denominates oil in the price of usd and only accepts usd meaning the usd is effectively backed by oil forcing demand by the same mechanism that caused the whole situation it being an inelastic good.
en.wikipedia.org
en.wikipedia.org
en.wikipedia.org
Blake Anderson
I don't think anyone said Trump was solely responsible for the good economy, just noted that the economy remained good under his watch which is all we're asking for. This crisis is very clearly as a result far outside even the president's reach though, with the oil market having been flooded for the past 4-5 years from the imporvement of fracking technology and now the global pandemic shutdown.
Jeremiah Gutierrez
>My weet summerchild. It is all orchestrated
just kys you cringey neckbeard
Nathaniel Martin
Donald Trump will have to make another deal with OPEC.
Luke Powell
what's it like being this fucking stupid? seriously i'm curious? would you say you're generally happy in life?
Gavin Brown
He did