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John2290 said:

Oil Prices are in the negative. This is worse than the the fucking Virus by a mile. We've fucked ourselves, the war economies are coming. 

Isn't it just the oil companies that are fucked?



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vivster said:
John2290 said:

Oil Prices are in the negative. This is worse than the the fucking Virus by a mile. We've fucked ourselves, the war economies are coming. 

Isn't it just the oil companies that are fucked?

Back home (in Norway), the effect of this would be much more severe since oil and gas companies are more or less state-owned and the industry makes up about 35% of the total GDP. The state would essentially tank (pun intended). In a market where the interest and ownership are largely private though, the consequences are much less dire. So, yeah, I think and hope you're right. The oil industry has extremely high profitability and productivity rate per capita and employee, so the actual number of layoffs would be much smaller than if another sector or industry was hit as hard.



Mummelmann said:
vivster said:

Isn't it just the oil companies that are fucked?

Back home (in Norway), the effect of this would be much more severe since oil and gas companies are more or less state-owned and the industry makes up about 35% of the total GDP. The state would essentially tank (pun intended). In a market where the interest and ownership are largely private though, the consequences are much less dire. So, yeah, I think and hope you're right. The oil industry has extremely high profitability and productivity rate per capita and employee, so the actual number of layoffs would be much smaller than if another sector or industry was hit as hard.

Sucks for Norway and other oil countries I guess, but it's time for them to ditch oil anyway and build a proper economy.

For everyone else nothing will happen. Oil companies are gonna be fine since oil will always be needed and they have lots of it. And job loss in a sector that should mostly die anyway isn't much of a concern either.

What I'm saying is that low oil prices are probably one of the least concerns anyone should have. Now or in the future.



If you demand respect or gratitude for your volunteer work, you're doing volunteering wrong.

John, what happens when the sky starts falling? Then were really fucked.



I guess Canadians are enjoying their time off work and school. I have never seen this many people out and about on a regular Monday around here. I went to the trail I always go to which is normally deserted. Today, people every where. Ok, plenty game trails to avoid them all, but it wasn't just 2 people walking together anymore. Bigger groups, hopefully still all from the same families, yet also, again, teenagers out together in small groups. Pretty pointless closing the schools if you send your kids out to play with their friends, so stupid. And this is in a small town, I wonder what its like in more crowded places.

Anyway this probably explains why the numbers are still creeping up in Canada.
Growth over the past seven days: 137% or 1.05x daily growth over the last 7 days.
Growth over the past fourteen days: 117% or 1.01x daily growth over the last 14 days.
The growth rate is increasing again.

Canada needs to do better.



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You really should get some sleep, John.



John2290 said:

Oil Prices are in the negative. This is worse than the the fucking Virus by a mile. We've fucked ourselves, the war economies are coming. 

Relax this isnt the end of the world.

Remember all the times the USA f***ed with russia and saudi arabia and their economy?
This is "payback" so to say, the pricewars from them, are obviously done on purpose,
because the "american" way to produce oil is more expensive (shale and fracking).

So why are they doing this now?

Because its gonna hurt the american economy and jobs in the US. (more than it does them)

Thats all this will mean.
Some oil companies in the US will close down, and that ll be it, things will go back to normal at some point.
(the rich with stock invested, will lose that)

There wont be any wars faught over this.
So dont worry John2290 the sky isnt falling.

John2290 said:
Nighthawk117 said:
John, what happens when the sky starts falling? Then were really fucked.

Not if you wear a tinfoil hat. 

C'mon, though. Honeslty, if ya can't see that we've already been decimated the moment thst virus got out of control, then you weren't looking. Their are very few paths out of this to minimise harm and stay somewhat intact and noone is following those balanced paths, aside from China, it's one extreme or the other and that isn't going to work. Like I've daid for weeks, this only leads to war, famine and other diseases with severe human loss unless we find that middle of the road path and walk it. There is only differing degrees of severity based on what we choose and no one is choosing the reasonable long term options. Listen to an expert in full on the health side and you're fucked, listen to an economic expert in full and act on their advice and you're fucked. There was a balanced path to keep the world protected and it's likely already slipped away. The damn sky started falling already, we're living on the last of the fumes at the bottom. Make the most of it. 

Yes a recession is going to happend.
There wont be wars, (large scale) famine, ect. because of this pandemic.

"we're living on the last of the fumes at the bottom."

Its not yet that bad John.
However there will be alot of unemployment alot of places (around the world), US choose a "odd" route to go about protecting bussinesses and saw insane growths in that reguard. Rest of the world, shouldnt be as bad. It comes down to how the goverment tackles things.


Last edited by JRPGfan - on 20 April 2020

John2290 said:
Nighthawk117 said:
John, what happens when the sky starts falling? Then were really fucked.

Not if you wear a tinfoil hat. 

C'mon, though. Honeslty, if ya can't see that we've already been decimated the moment thst virus got out of control, then you weren't looking.

John, I was looking out back in October 2019 - that's when I sold all my stocks and put all my money into Money Market Mutual Funds. I predicted the US was headed for a recession in 2020.  Now, I'm just waiting my time to go back into the market - July is my target.



vivster said:
Mummelmann said:

Back home (in Norway), the effect of this would be much more severe since oil and gas companies are more or less state-owned and the industry makes up about 35% of the total GDP. The state would essentially tank (pun intended). In a market where the interest and ownership are largely private though, the consequences are much less dire. So, yeah, I think and hope you're right. The oil industry has extremely high profitability and productivity rate per capita and employee, so the actual number of layoffs would be much smaller than if another sector or industry was hit as hard.

Sucks for Norway and other oil countries I guess, but it's time for them to ditch oil anyway and build a proper economy.

For everyone else nothing will happen. Oil companies are gonna be fine since oil will always be needed and they have lots of it. And job loss in a sector that should mostly die anyway isn't much of a concern either.

What I'm saying is that low oil prices are probably one of the least concerns anyone should have. Now or in the future.

Alot of it, will be in the USA though.
Shale oil, and oil from fracking, are more expensive than other places were they get oil.
(its also alot more harmfull to the enviroment, so maybe this is a good thing?)

This does mean alot of jobs and oil bussiness will likely be lost, and stocks in those oil companies.