The END of capitalism

It's insane when you think about how I pay almost $4 for a 16oz Red Bull yet I can go buy a barrel of petroleum for $20 bucks.

We could have cheaper oil if it wasnt for boomer managers insisting on all employees physically going to the office when the job can be done remotely

Filled up my honda civic for $16 bucks yesterday. What a time-line.

Imagine if you could drill a hole in the ground and get a billion gallons of red bull

Just wait a few months it will be back up to 50 a barrel

the reason people use oil so much is because it is cheap and abundant
dont fall for envirocuck propaganda

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If the demand goes down, prices go up, you absolute retard.

Buy now communist, then fund your mates

Volatility in the oil market is nothing new. Could be way up this time next year. Canada's decisions around the industry most certainly haven't helped things lately though.

These kinds of prices also make you wonder if that whole peak oil thing is a scam and we have a virtually limitless supply for at least the next century.

> oil at its lowest ever
> my government actually wants to raise it's price so they can use the difference to pay gibbs.
> also proposing taxing those who still have a job
> meanwhile the rest of the world is literally giving free cash to everyone.

Not for American frackin industry.

Can't you just get corona and die?

I'm willing to buy those ventures, if you're dumb enough to sell for pennies.
Thanks for the cheap goods!
Look at it this way, you either pay in inflation, so that when you're old you have to work, or you pay now while you're young.
You're in a good condition, pay now. Debt is, in my estimation, always over-rated.

Agreed. This is going to put high paying jobs in the unemployment line, and will stress supply chains if/when they go to reopen.

Rip communism

If capitalism dies communism cannot start as it is a parasite based a capitalistic industry

>virtually limitless supply for at least the next century
We don't, at least not oil that's cheap to extract. There's a reason OPEC hides data.

>Canada
>Capitalism

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It will stay cheap forever if Mr. Noseburg will allow all of us to work from home ad infinitum.

>Lots of cheap energy is very good for capitalism

Not when our currency is tied to it. Lrn2 keneysian economics

Yes, but it makes a million other things profitable as everything involves shipping costs and fuel costs.
Freelance pizza delivery just got VERY profitable.

The end of the house of saud , Russia rises to world domination

those who profit from fracking may have to shut down their operations temporarily, but that is a consequence of operating within the confines of a free market.
if those welfare queens want a free handout they can have one: just enough to live in section 8 housing with a bellyful of government cheese. the government is not here to handhold those who choose to enter failed markets.

Imagine being the province amounting to about a quarter of the country's economic wealth and not putting any of it into a contingency plan for growth outside the doomed industry.

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if nazis panzer crews had worked from home their would be no oil crisis they would have won the war.

>the government is not here to handhold those who choose to enter failed markets

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GREED IS GREAT! MOVE ALL PRODUCTION
TO CHINA AND INDIA, LET NATIVE POPULATIONS
SUFFER WITHOUT JOBS BACK HOME. OIL WHICH
THE ECONOMY IS BASED ON BECOMES MORE
ABUNDANT THAN EVER BEFORE, CAUSE NO
ONES USING IT OTHER THAN CHINA AND INDIA
TO MANUFACTURE GOODS. SINNERS CAN'T RUN
THE WORLD.

LOOOOOOOOOOL

It's all fugged.

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>The END of capitalism
No more latest iThings to for which to wait in long lines.
No more three trips to Starbucks.
No more edgy and trendy look-at-me-mall rags.
No more El Che shirts.

>government actually wants to raise it's price so they can use the difference to pay gibbs.
>free cash

¿QUE?

Why would we save it when the feds will just take it to bribe Quebec.

Someone just nuke southern ontario

>10 yr bond - down
>Crude oil - down
>Manufacturing - 75% down
>Unemployment - All time high
>World - Lockdown

>Dow - In the green

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Perhaps this is the fake virus reason.

Whaddya think the real economic crash is about. COMMERCIAL REAL ESTATE. Office building s are obsolete....CRash BaNg BOOM!

>what am I supposed to do about my 100,000$ electric tesla now?
Hahahahahahahshshahah

What? price goes down in low demand until market correction usually correlated with downsizing the production, which LOWERS SUPPLY...duh.

What isn't a sales pitch scam anymore?

Yeah. That beer sux. WHY YOU NEED LEMON!?

It will bounce back everyone needs oil. Every product you own involved the use of oil in some way

>tfw oil is now cheaper than coal

They are trying to keep us from driving while gas is cheap.

opec is crumbling from what I see...

I heard Trump and Powell opened a hedge fund with a cap. size of infinite USD that buys ETF and corporate bonds at any price.

Why would you sell cheap?

hahahahaha suck it

>could be way up

US fracking has effectively put a cap on how high of a price OPEC can charge.

Always happens after a period of constrained production to jack up prices.

Eventually countries strapped for cash start pumping more, raising supply, and dropping the price as everyone else hops on board too.

>lrn2keynsian economics

Which is funny because that requires disregarding the laws of economics.

The big oil producers can live with a short dip like we've seen, even ridiculously low prices. But only if they're for few weeks or a month, tops. What KSA, USA and RUS companies will not survive is a long term overproduction. 30$ for a WTI barrel in next December and Russia's economy is going tits up.

>make you wonder
This is well known for decades.
It's abiogenic and is created hundreds of miles below the surface. Constantly replinishing.
We have tens of thousands of years worth.
We have so much, we'll be far advanced past using oil thousands of years before running out (which will never happen).

HELP

lol, youd have to be digging 20 miles deep by now if demand was never curved