Oil Is Going To $300 A Barrel: IT'S ALL A GAME, A GAME THAT WE CANNOT PLAY, A GAME "THEY" WIN, without someone like President Trump in office we all loose. Oil, Gas, Gold, and Silver is all a GAME and
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IT'S ALL A GAME, A GAME THAT WE CANNOT PLAY, A GAME "THEY" WIN, without someone like President Trump in office we all loose. Oil, Gas, Gold, and Silver is all a GAME and a "BIG OLE CLUB AND WE AIN'T IN IT."
Forbes
#FORBES #MONEY #INVESTING #OIL #GAS
Oil Is Going To $300 A Barrel
Aug 29, 2023,11:30am EDT
The best ideas are the simplest and the biggest markets are the best. So here is a simple idea for one of the biggest markets out there. It is oil.
For roughly 10 years after 2005 to the later part of 2014, oil (in this case West Texas Intermediate) was above $100 a barrel, peaking in 2008 just below $200 a barrel. In that period it spent years in a channel between $120-$140.
The thing about commodities like oil is that while they can be acutely volatile because of supply and demand and political events, long term their price is a function of the technology needed to create them and the state of inflation in the denominating economy. As a baseline commodity prices go up in line with inflation. So in a country with high inflation commodities become currency and as any gold fan will tell you, dollars are priced in ounces of gold, not the other way around.
Oil can be seen as a good example of this idea. Dollars are priced in barrels of oil, not the other way around. You can also say that implicit in the whole definition of a commodity is that it is something fungible with money.
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The FOREWARNING: Last Year by Russia & B.R.I.C.S.
Could oil hit $300 a barrel? Why Russiaās deputy prime minister seems to think so
Published: March 21, 2022 at 3:54 p.m. ET
The price of oil could climb to $300 a barrel if the world completely shuns crude oil from Russia, the countryās deputy prime minister, Alexander Novak, reportedly said on Monday.
His comments come as the European Union considers a ban on the purchase of Russian oil. Support for an EU ban is growing within the bloc, according to The Wall Street Journal.
āA complete rejection? In the event of a rejection, the oil price would be $300, Iām telling you, some even say $500,ā said Novak, according to a report from Russian news agency TASS.
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