Jump to content

The price of arrogance.

Recommended Posts

Suspending disbelief temporarily in order to digest the magnitude of arrogance displayed by MBS and Vladimir Vladimirovich. In a last man standing battle of wills, it would appear both Saudi and Russia are prepared to risk all in a winner-takes-the-least bid to see who is more arrogant and who has superior power. (In this case who has the capacity to destroy the price of oil). Naturally, for consumers this is a boon. However, this is an unsustainable war. Already the strategic reserves are in play and Russia is committed to pumping more oil than ever, at a price that is not even profitable. All to prove a point. This does not please the oil producers of USA or even Norway who cannot possibly make a profit on oil on current margins. Only Saudi can. But not for long.  Frankly, it is a tad depressing (but not surprising) to think the leaders of the world are so arrogant, such is the disadvantage of unconstrained power. Or cheap energy, which ordinarily would be a positive. In the case of a finite resource like oil it is astonishing. Financially, the price war is unsustainable making oil futures are very tempting indeed.

  • Great! 1

Share this post


Link to post
Posted (edited)

Saudi Arabia is clearly a great ally of Britain and the USA, considering how many weapons we sell to them and how we turn a blind eye to their corruption and backwardness!  Their grotesquely over-the-top cities are Meccas to our nouveau riche salespeople :D

Edited by dmedin
  • Like 1

Share this post


Link to post
Guest Gadge

Or, they work in tandem to rid the world of a competitor. 

Share this post


Link to post
4 hours ago, Guest Gadge said:

Or, they work in tandem to rid the world of a competitor. 

I 100% agree.

Is this Russia vs Saudi or both of them vs US shale.

Shale has some bad characteristics: It is more costly than other markets. There is a lot of debt in the companies. When the pumping starts it produces a lot of product very quickly and floods the market, before tailing off.

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      11,528
    • Total Posts
      58,709
    • Total Members
      77,746
    Newest Member
    Melmoo
    Joined 13/07/20 16:30
  • Posts

    • I found a really good trade / market, waited until 2.30 when it opened to place the trade. Immediately placed the trade, then straight after I noticed the spread split had been increased to 10... I was p*ssed, I was in £112 deficit immediately. I'm going to wait it out, it must become a good trade, maybe that's why the commissions become high?... I hope so anyway.
    • Hi Can anyone please explain how I can place a limit trade out of hours. Nabtrade let me do it, but I cant figure IG out. cheers, Jimmy  
    • Ok folks , let's be honest here .  I am pretty sick of all the BS that goes around forums and youtube people claiming they are making millions  when the reality is they are sitting at home in their pants frantically checking IG every 3 seconds to see if the hole they dug themselves into getting any smaller. Up 50 quid and all of a sudden they are trading experts or nostradamus. Me: Up 15% on my share dealing but in reality its because its a bull market and I bought months ago. Spread Betting is about £1500 loss in 2 months  mainly because I am more wrong that right, rather than foolish trading. Although I did have a massive c@ck up by leaving a position open overnight and losing 900 in one go). Learnt what a guaranteed stop is after that!  My aim is just to break even by Christmas, learn a lot and by then assess if I can make a modest living from Swing / Day trading. I can dedicate  most of time to this as I am not working now.  Modest being 20% annually At this stage I am doubtful. I have read a lot, made a pile of notes but I am convinced most is just hot air /fluff, authors cherry picking charts and rehashing ago old indicators to show that they are experts, or **** out their training courses Still I will pursue it  for the next 6 months and make a final decision. At least now I am sensible with stops, never more that 1% on a trade and no more losses than 5% of current portfolio a month. Thus max possible loss is 26% in 6 months 
×
×