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Good Boone Pickens Interview On Bloomberg

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On the vdo link section. Good interview.

Boone Pickens interview on oil

That man shorted oil in January and now he is long. The supply/demand arguments are the same today as they were in January but Pickens keeps repeating demand is 86 m barrels a day and supply is 85 million barrels. There have not been reported shortages anywhere that I know of so it seems supply is comfortably able to meet demand. I guess he is not too happy about the $20 drop in prices over the past 10 days.

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That man shorted oil in January and now he is long. The supply/demand arguments are the same today as they were in January but Pickens keeps repeating demand is 86 m barrels a day and supply is 85 million barrels. There have not been reported shortages anywhere that I know of so it seems supply is comfortably able to meet demand. I guess he is not too happy about the $20 drop in prices over the past 10 days.

I think that supply (all liquids) peaked in February and has been lower since, though it may be going up now.

Is not demand in the US falling?

I don't have any links to hand, but I believe that some 3rd world countries may not be able to afford as much oil now. There have certainly been energy-related riots in such countries,

Peter.

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Guest DissipatedYouthIsValuable
There have certainly been energy-related riots in such countries.

But now they can't be bothered, it's all too tiring.

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I think that supply (all liquids) peaked in February and has been lower since, though it may be going up now.

Is not demand in the US falling?

I don't have any links to hand, but I believe that some 3rd world countries may not be able to afford as much oil now. There have certainly been energy-related riots in such countries,

Peter.

Demand for gasoline is apparently down 2.5% from this time last year, but the real signal that things are changing is that major auto manufacturers such as GM and Ford are in big trouble, as people are no longer buying gas guzzling SUVs and pick-ups.

The issue with many of the developing economies is that the governments there have been subsidising oil imports and have thus protected their citizens from the sharp run-up in oil prices. Of course they can only do this for so long and the part-lifting of subsidies in Indonesia and in India recently led to riots. China still takes the hit on subsidies but that may all change after the Olympics. Now is not a good time to threaten the nation with a doubling in gas prices. Oil prices will plunge to below $80 a barrel if China and the other developing countries announce they will stop the subsidies. These countries will not be able to invest in the country's infrastructure if their surpluses go towards subsidising energy. Oil prices cannot be sustained at current levels, principally for this reason. There is already talk of India possibly entering recession over the next year. That would never have been believed this time last year.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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