Current Events > Oil prices going up, how do you benefit?

(+) Yeah! (+)

https://twitter.com/realDonaldTrump/status/1257650279740301314?s=19

It's what he wants

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it's what i want

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Fuck Trump

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I'm on a government contract job in Alberta. This means I have less chance to lose my job because money can come in to pay for it. It also pays for a lot of my healthcare.

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https://www.youtube.com/watch?v=e7oABZkGen8

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I put about 3k into USO and in total I'm up like 750 bucks so far lol.

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GregShmedley posted...

I legitimately don't see how this benefits the average citizen. Does it in any way? I wish Darkman here so we can have his take.

am i the average citizen or do you have some crtieria which establishes who the average citizen is

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The Trent posted...

am i the average citizen or do you have some crtieria which establishes who the average citizen is

Don't you work in the oil industry? So it's not really a fair comparison

so i'm NOT an average citizen

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I love when prices go up!

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The Trent posted...

so i'm NOT an average citizen

In this context, no, because of that innate bias and direct effect this would have on you.

You benefit by oil continuing to be produced

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that's a shame, the hundreds of thousands of people employed in this industry don't get to talk about how they are benefited from a higher oil price
gosh darn those corporations!


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The Trent posted...

that's a shame, the hundreds of thousands of people employed in this industry don't get to talk about how they are benefited from a higher oil price
gosh darn those corporations!

No one said you don't get to talk about it, only that people working in your industry don't represent the average person in this particular matter. You're miscontruing what's being said.

oh well then i can think of hundreds of thousands of people who benefit from oil prices going up

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The Trent posted...

oh well then i can think of hundreds of thousands of people who benefit from oil prices going up

How would the average American who has no direct connection with the oil industry benefit from prices rising? Arguably, the main effect oil prices have on the average person is at the pump, so prices rising costs them more.

i don't know, ask the average american
they're probably fucked

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I bought into WPX a couple weeks ago at $4, its already up 50%, not a bad gain.

The oil and gas industry is a big part of the US economy and employs millions of people, so obviously there is economic benefit there. The sweet spot where we have a strong energy sector as well as cheap transportation costs for other industries and consumers are around $50 to $60 a barrel.

Natural Gas is tied very close to the oil industry, most wells produce both oil and gas. Natural gas has been the biggest reason why coal has died, it is cleaner and cheaper. However when oil drops so low, companies are shutting in their wells, so the natural gas supply also drops significantly. This directly leads to much more expensive heating/power bills, and if it gets worse we will have energy shortages and blackouts until we can get more coal power plants online.

National Security is another big reason, the US is now the largest oil producer in the world, so we are significantly less dependent on foreign oil than we were 10 to 15 years ago.

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