Saudi prince: $100-a-barrel oil 'never' again

[manselr]

I can understand copper and Bitcoin being down. But oil has to go back up. It literally has to 100% guaranteed. The fate of the world actually depends on that price.

[jaysabi]

I can understand copper and Bitcoin being down. But oil has to go back up. It literally has to 100% guaranteed. The fate of the world actually depends on that price.

You gotta flesh out the justification for that conclusion, because I don't see it.

[Rishblitz]

I can understand copper and Bitcoin being down. But oil has to go back up. It literally has to 100% guaranteed. The fate of the world actually depends on that price.

You gotta flesh out the justification for that conclusion, because I don't see it.

The world economy needs energy and if energy is super cheap that either means its very abundant or the world economy isn't growing enough.
at least that's what I think his idea behind that thought was.

[gkv9]

Can someone tell me what has actually been the reason behind the oil price tanks and a sharp 50% decline?

[jaysabi]

Can someone tell me what has actually been the reason behind the oil price tanks and a sharp 50% decline?

Read through this thread. A lot of ideas have been posted, and truthfully, it's a little bit of all of these. There's no simple, clear-cut explanation.

[Rishblitz]

Can someone tell me what has actually been the reason behind the oil price tanks and a sharp 50% decline?

Saudi Arabia trying to hurt U.S shale.

[thejaytiesto]

I can understand copper and Bitcoin being down. But oil has to go back up. It literally has to 100% guaranteed. The fate of the world actually depends on that price.

You gotta flesh out the justification for that conclusion, because I don't see it.

The world economy needs energy and if energy is super cheap that either means its very abundant or the world economy isn't growing enough.
at least that's what I think his idea behind that thought was.

What happens when oil reserves get finished? because it will happen sooner or later. If the fate of the world depends on that price and all oil gets consumed.. then what.

[izanagi narukami]

I think world oil is cheap recently.
On my country, our gasoline named " premium " has been decrease from Rp 8.500 per liter down to Rp 7.600 per liter

I hope it will keep lower because everything will gonna expensive

[Possum577]

I read this article too and the claim is pretty ridiculous. It's like saying that Bitcoin will never go up to $300 again. There's just no fact to it, no logic. The price will most certainly grow above $100 a barrel, if not due to the finite supply then due to inflation of the dollar.

It's a ridiculous claim. But don't get me wrong, I love cheap gas!