Biggest price drop in history?
I just saw what oil and raw gas did; WOW! Oil down 15%, gas 14% or about $.30 per gallon. It has been yo-yoing around crazily but nothing like this. Maybe the realization that electric cars will not need gasoline has finally hit Big Oil.
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I think it is the new covid variant scare. If they shut down the world economy again it will really cut the demand for oil like it did last year. No one wants to buy oil for big bucks now and be stuck with it if the demand tanks. Bob
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It was a heck of a buying opportunity if you invest in Oil stocks... I bought more, this was just a head fake because of covid bs, this too will pass, EVs still have a long way to go and their electricity has to be generated from something... oil ain't going nowhere soon.
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No price drop in Sarasota area yet.
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If its good news, Biden did it. If negative, Trump and GOPs fault.
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3.06 here in SC
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Biden will claim it is the threat of releasing a pittance from the SPR.
Many will believe him.
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$3.62 reg... here...
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The market was way overdue for a correction. Most of the big institutional investors had the day off. Media needed a new kink in their on-going COVID panic.
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An interesting note...
We just heard about the Nu variant, going by the Greek alphabet.
Newest one is the Omicron variant.
So what happened to the letter that goes between Nu and Omicron? That letter is "Xi" in Greek.
That's right, the Chinese government pressured the WHO to skip "Xi" and go straight to Omicron. Apparently it's a bad thing to have a Covid variant named after the leader of the country that developed it.
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Monday morning oil market is on the up with WTI and Brent already rebounded by $3.75.
Mule
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It will probably go up tomorrow as much as it went down Friday. Wild.
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And if any of you bought the drop in oil, you are up now, it spiked early and I missed a 14% gain from Friday, it's only 6% right now but I'm gonna hold that purchase for awhile, Probably would have sold if I had caught it earlier but I was reading this MB instead of watching stocks....
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Yep up 3 cents a gallon here, both diesel and gasoline
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Been $3.62 for regular here for the last month...
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i read china has bought one of the biggest oil fields in Texas...they have been buying up prime farmland in the USA...how FNG STUPID is our govt and how far will it go to enable china's rise to #1 in the world
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@...: 30636943028891/comments/
https://forums.gunbroker.com/discussion/comment/11309139#Comment_11309139
Also heard that China is buying real estate in Hawaii at an alarming rate, and has been for years.
Under the control of the Dem's, and the Rino's, do you really have to ask that question?
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Gas is trading on the board for under $2 for the first time since April. I usually figure 60 or 70 cents over the board price for the pump price so it should drop a little at the pump eventually. Maybe.
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