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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Black Blade who wrote (200490)	3/8/2020 11:54:39 PM
From: Elroy Jetson	Read Replies (2) of 206184

When the price of oil declines to about $19.50 a barrel, it will no longer make sense for Russia to produce and sell any oil beyond their own usage. But the price decline is both less than this and targeted directly against Russia. Saudi Arabia is providing China and other customers of Russia a $6 a barrel discount on Saudi Light, with larger discounts on heavy crude. While Russian production is still profitable in an "absolutely sense", it no longer provides enough revenue to operate the Russian state, let alone make new capital investments in the oil and gas sector. . There will be far more "producer fatalities" in places outside of Russia. As an example, if this continues, Vivki Haloub at Oxy will definitely be selling Chevron the assets Chevron wanted at the price Chevron is willing to pay, under the direction of their lender Berkshire Hathaway. The ultimate resolution will be a resumption of demand.

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