Who /goingdownwiththeship/ here?
I'm invested quite heavily in one oil major (Shell) but can't bring myself to sell, despite the fact that it just keeps tumbling down.
Anybody else joining my on this suicidal decision. Oil will recover eventually, r-right guys?
the oil companies are trying to fuck over american fracking by undercutting them until they go bankrupt and hoping fracking dies before they do
you can still survive this but either way someone is going down
>the oil companies
america and europe are the only ones with actual oil companies, and they're the ones eating shit you cunt nugget.
if you're talking about the harold hamm fueled myth that saudi arabia is trying to lower the price of oil to squeeze out competition, don't believe a word. he has vested interest in oil going up and blaming the muslims is a clever way to get americans on board. saudi wants higher oil prices way more than we do, they're government literally depends on it. sure, american production has increased and there is a supply glut, but that wasn't a problem when speculators and china were blindly paying $100/bbl. demand for oil is inelastic so it can be confusing to analyze, but the truth is when the price goes down we saw governments needing to produce more oil, thus the quantity supplied actually INCREASED as price fell over the short run. in came the death spiral.
I'm on exactly the same ship, 1/3 invested in shell.
I'm not selling, how much lower can it go?
Many OPEC countries are running huge budget deficits. If these prices continue, things are going to get ugly there.
I have no positions in oil companies, but I'm thinking about it.
The way I see it, is that the prices start climbing back up, when OPEC decides to stop fucking around and reduces their oil production. Timing is everything. You could get major dividends from beaten down smaller oil companies like EVEP or SDRL or shit like that if you buy the stocks right before OPEC starts reducing their production to get the Oil prices up. The OPEC countries have ugly deficits, but how ugly they have to get before OPEC gives in? That's the fucking question.
>Who /goingdownwiththeship/ here?
I'm going down....~~~~~ ! ~~~~~....
>Oil will recover eventually, r-right guys?
It's a finite resource. Demand is only going down in a few select highly modernized countries, and will go up heavily over time in the rest of the world. Wait for long enough and yes, it will recover.
The question is if that's a profitable idea, because you may be stuck waiting for years.
I am pretty heavy in ETP, KMI, and NAT.
your not fucked totally yet. sell on the rallys and start buying into renewables and top tier shit like amazon google and short defense. like Raytheon and the such. they will be feeling the Bern shortly.