Don't look now, but crude now under $100/bbl

[DarkWizard12]

I hope it happens soon, but my sense is that this from lower demand from people just skipping summer vacations.

 

[Nomad4Ever]

Wow, I can't believe Joe Biden caused global gas prices to fall. Good job Joe

 

[DarkWizard12]

Wow, I can't believe Joe Biden caused global gas prices to fall. Good job Joe

i doubt it's his doing, but we'll see what happens. my gut feeling is that this is due to the fact that we're officially in recession. Oil is going to crash, and no one is going to have a job to go to.

 

[NuffSaid]

Data lags. They are coming out towards end of this month which means right now we are in recession. The oil tumbling below $100 is confirmation that the data will confirm what the $100 oil is telling us. Brush up on Econ 101 please. It will help us both. Thx.

Recession is 2 quarters. The end of this month (July) is not the end of a quarter.

So oil dropping below $100/bbl is an indication of a recession?

 

[NuffSaid]

i doubt it's his doing, but we'll see what happens. my gut feeling is that this is due to the fact that we're officially in recession. Oil is going to crash, and no one is going to have a job to go to.

We’re not in a recession.

 

[DarkWizard12]

We’re not in a recession.

a recession is 2 quarters of negative gdp growth. We've had that. That's a recession. We are in a recession.

 

[NuffSaid]

a recession is 2 quarters of negative gdp growth. We've had that. That's a recession. We are in a recession.

We have? Where? Where is that 2nd Q of negative growth at? Not seeing it.



Wh

 

[Greenbeard]

i doubt it's his doing, but we'll see what happens. my gut feeling is that this is due to the fact that we're officially in recession. Oil is going to crash, and no one is going to have a job to go to.

That was the one weird trick Trump used for cheap gas in 2020.