“Extreme”
Bitch please, Europe is around 300 for months now.
If my math is correct, 150usd per barrel is 0.82€ per litre. Currently gas costs 2.25€ where I live. Your oil is so subsidized you forgot what it actually costs.
The price at the pump is gasoline, not oil.
Don’t worry guys, the child molesting orange clown said it was worth it.
This one is on the Saudis who broke the 2022 ceasefire
disagree, but not directly.
I think you’re correct that Saudi attacks on the Houthis certainly get us to this state; I don’t think SA would have been so bold in a vacuum, but orange shitler and bibi were having so much fun that they wanted to get in on that.
Oil goes up = interest rates go up.
Financing loans gets even harder.
AI CEO goes ‘I need another eleventy hundred billion dollars to keep stealing the sum wealth of human labour and selling it back to idiots because my incredibly valuable industry is still 4 years away from being anywhere close to profitable’
Investors say ‘I literally cant’.
AI goes pop.
crosses fingers
Everything go pop. Inflation is about to take off in a way nobody is prepared for and I think AI will be the least of anybody’s concern.
I’m not sure how things are holding on as it is.
Historically, the big bubbles have lasted approximately five years before the bubble pops in spectacular fashion, and we’re in year four. On the one hand, it’s a little fascinating how this isn’t the 1900’s or 1800’s and the AI boom seems to be following the same script. That said, no one can predict the future and we’ve seen the US government make three trillion appear out of thin air overnight just six years ago, so this is at least a little different and one has to make the best decisions for oneself regarding the bubble.
I personally have a portion of my investments set aside in cash right now, because buying into oil stocks at 90% off in March 2020 (which historically drop precipitously in a bubble pop because people cut out travel straightaway) and then waiting two years made me enough to pay off my student loans and put a down payment on my home. Not ‘fuck you’ money, but life-changing. I have the patience to do it again.
Year four? Feels like year 7 or 8
Inb4 comments complaining about inventing in oil
It is always a little adorable when some ‘holier-than-thou’ type gives me shit about it, like my paltry $3000 moved the needle in any meaningful way regarding oil policy and consumption.
Anyone else remember when oil hit -$/ barrel during his first term?
During COVID, yes. It’s inaccurate to link it to Trump. The prices went negative because of COVID, not Trump himself
Too many people at the time tried to say had was cheap because of Trump, which was not the case
To be fair, if Trump had literally done anything to mitigate the transmission of COVID gas likely wouldnt have gone negative. We would have had practical measurements to prevent transmission and more places likely would have stayed open if only at a reduced capacity
The entire world was doing lockdowns though. Not just the US.
It was his fault in that the COVID response was so bad. Unintended consequence, sure. Just like he’s inadvertently done more to cause the rest of the world to electrify and go green than ever before with his war of malice.
I get tired of this, I agree with you. I despise Trump easily as much as anyone else, but I’m not ignorant enough to think everything bad that happens under his presidency, or anyone else is entirely their fault.
Wild that anything positive that’s happened when Donald is president is almost invariably an unintended side effect, but it’s true.
Idk if oil being negative was a good thing per se. It was a signal that the economy was suddenly grinding to a halt and energy demand was cratering.
