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Monday, April 20, 2020

Tea Leaves Suggest "We" Are Reaching A Tipping Point -- Monday, April 20, 2020

Crash: oilprice server has crashed. I assume the site was overwhelmed with hits. Truly amazing. Third try: in. Other links at the site won't load. -- 1:24 p.m. CT -- April 20, 2020.
If folks don't see this crash as bigger than the 2008 / 2009 crash, .... I mentioned that some time ago. Spot price for OPEC basket was a minus $7 / bbl last week, so WTI has a lot farther to fall. And if anyone missed the story, Saudi Aramco is buying up assets from major European oil companies. If folks haven't listened to the rants in the movie Network, it might be a good time to re-watch the movie.

Lock down: tea leaves suggest "we" are reaching tipping point on nationwide / statewide lock downs. I'm looking for major news by the end of the week.

WTI: tea leaves suggest time for Trump administration to take action against Russia, Saudi Arabia. One item, link here.

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Cardinals In Sophia's Back Yard

There are a lot of cardinals in this neighborhood. At least three cardinals -- probably a family -- routinely show up at Sophia's house. On the way to the park we saw another male cardinal.




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2 comments:

  1. AnonymousApril 20, 2020 at 12:04 PM

    No need for Trump to take action. Oil producers need to take their whipping. Why should consumers have to subsidize them. Trump needs to take action against SA/Russia when they RESTRICT flow, not when they open the throttle.

    Besides, the real issue is demand drop. Russia/SA are not even at record output now.

    ReplyDelete
    Replies
    1. Bruce OksolApril 20, 2020 at 12:08 PM

      There are flaws in your argument, but that's fine.

      Delete

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