I have been told that one of the differences between a cat and a dog is that if you throw a ball past a cat then the cat will see where the ball is going. However if you throw a ball past a dog then the dog will look at where the ball came from. So according to what I have said: cats are like thermometers, while dogs are like thermostats!
Remember a few months ago when oil crashed (the market showed that the price was below $0) I think that an interesting conversation could be had about what was going on politically (I would be interested in reviewing such a conversation). Its called the petro-dollar https://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp
But in short a lot of bad people have built businesses that are financed because the price of oil *was high. Their are a lot of knuckleheads in society that have also built businesses that vicariously depend on the price of oil being high. The fact is (I will say a truth that makes people uncomfortable) oil is a slave. Bad men/women are mistreating the slave, but many Homer Simpsons of the world depend on the slaves to do various jobs, and major parts of the oil/slave trade is about to implode.
I don't think that oil will implode.
I remember, but the negative oil futures were just I said "futures". Contracts made by people who still let their car run by oil, warmed by oil, flying in planes runned by oil. The negative prices were a technical failure by economic.
The petrochemical industry is spread to wide to let it implode. More realistic scenario would be a faked war coughing turkey and his neighbours, greece, syria and libya coughing to make oil more relevant and push up the prices. Even if all our cars, ships, planes are able to run by safe electricity, we will still need oil as a lubricant for the engines.
In my opinion we will need and use every drip of it, until our earth "bleed out".
Sincerly
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am not certain about the actual word, I guess techniquly it rains all day every day (because even if there is 1% humidity in the air, I guess a person could say that it is raining outside) I was just trying to point out that I think that society will need less and less crude oil. Like you pointed out more than likely people will still require a small amount of crude oil for there lives. However its said, there has been some sort of pull back in the price of oil (a few years ago I think that the price was about $120 for a barrel of oil) Why do you think that the markets are seeing less demand for oil? :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit