Quote (ofthevoid @ Jan 6 2024 12:11pm)
Doubling down on the stupid even after people explained it to you.
Oil prices only recently (in the last few years) broke through and started trading above the ~60 dollar range, before that since 2015 ish they were below, even as low as 40s. Producers may cut back production and operate at a small loss for a little while not many years. Transport/insurance add costs but that's around 10-20/barrel at most ^Malopox knows better and he can opine, that wouldn't take the price of per barrel from 20 to 80 or 100.
Point is, they are in green, and have been in the green.
Just got done reading your source, and it agrees with basically everything I'm saying. You picked out a line you think agrees with you, but you didn't look at any of the context. It's really obvious you didn't actually read through the source or you would see it isn't making the argument you think it is.
My dawg, you can just google crude oil price charts. It's been bouncing above $80 since before 2008. There was a several year period in the 2010's where it didn't drop below $80.
You're also not including the price to transport, which has dramatically increased as a function of sanctions. Russia has been recomissioning old ships and having greatly increased expense to its maintenence as a result, they've also had to add intermediaries, and a few other things that all add cost.
Also they're trading at a discount to the market rate. They're also experiencing increase cost to drill as a result of expertise leaving the country so your graph from 2016 cost to produce is dramatically out of date.
This shit isn't hard to figure out. It's sad you think anything I'm bringing up is in any way controversial, because I promise you it isn't if you're actually listening to informed sources. You have to find people like Molopox who absolutely torture the data to claim otherwise. Also, Molopox is the dude who claims because McCaine gave a speech in Ukraine in 2014 that means NATO was literally arming insurrectionists for the purpose of overthrowing the government. Not exactly somebody you should be putting your trust in for good analysis.
This post was edited by Thor123422 on Jan 6 2024 06:07pm