Oil below $100/barrel and I’m sure Biden will take credit for it.

[Saltwater60]

Oil drops below $100 a barrel for first time since early May

For the first time in nearly two months, crude oil prices have fallen below $100 a barrel, reflecting investors' growing concerns about a US recession that could crimp demand for oil.

amp.cnn.com

 

[Deplorable Me]

No.

He'll just expect kick backs from the oil companies.

 

[prambo]

Oil drops below $100 a barrel for first time since early May

For the first time in nearly two months, crude oil prices have fallen below $100 a barrel, reflecting investors' growing concerns about a US recession that could crimp demand for oil.

amp.cnn.com

I found that hard to believe especially since it's CNN.

But, to my surprise, it is true.

And it's definitely something Zhou Bia-Den can take credit for...

What??!!

Yes, amazingly enough the dump in oil prices (not all types) is because the oil futures market is figuring on a global recession, which destroys demand for oil, and other things, and dumps prices.

Why Oil Prices Crashed By 10% Today | OilPrice.com

So, essentially, Bia-Den (read "Obola's 3rd Term") and the rest of those loyal to Klaus Schwab and His Flying Monkeys used COVID, a bunch of little handfuls of sand, jinxed the jank of the global economy so that oil went through the roof.

Then when the inevitable crash, or perceived future crash, in oil demand showed up, due to a completely fucked world economy, it becomes a "What The Fuck??!!" moment.

It really isn't "wonderful", and it keeps getting worse.

If there's a low demand scenario on the horizon and prices are still extremely high, why is oil from the strategic reserve being sent to Europe?

Over 5 mn barrels of oil from US reserves sent overseas

Further, with high prices, and low demand, why is there a continuing draw on the Strategic Reserves?

Here's the data from this link - Strategic Petroleum Reserve Inventory 2005




They're giving away the farm - this is intentional destruction of the entire global economy, especially that of the fUSA and the EU, and blaming the whole thing on Russia invading Ukraine, although it started the minute Bia-Den was inaugurated...

 

[ManrisFrack]

Let him take credit.

High oil/energy prices, followed by a precipitous drop is a very reliable leading indicator of world-wide recession. Go find a chart of oil prices leading up to, and including, 2008.

 

[Vicarious]

Demand destruction will do that..

 

[Grimscale]

although it started the minute Bia-Den was inaugurated...

Let's be real.
It actually started rising in Nov. 2020 when the USA, and the world, realized we were going to be stuck with a demented puppet who squawked to the tune of the "new green world order" groups.

 

[Apeman]

At this point it doesn't matter what the price of oil is. They new world leaders have screwed up this planet so bad. Great - oil is under $100/barrel. Why then are we still paying $4.50/gallon? It's because they're gutting the industry and they don't care who it hurts. They're pushing their stupid green world on the whole planet.
This will be the second recession under Joe Buffoons watch since he was then and is still their puppet. The difference is last time gas didn't hit $4.35/gallon until oil hit $135/barrel. With them trying to destroy the oil industry we'll still be paying at least twice as much for gas as we should be.

 

[prambo]

At this point it doesn't matter what the price of oil is. They new world leaders have screwed up this planet so bad. Great - oil is under $100/barrel. Why then are we still paying $4.50/gallon? It's because they're gutting the industry and they don't care who it hurts. They're pushing their stupid green world on the whole planet.
This will be the second recession under Joe Buffoons watch since he was then and is still their puppet. The difference is last time gas didn't hit $4.35/gallon until oil hit $135/barrel. With them trying to destroy the oil industry we'll still be paying at least twice as much for gas as we should be.

And it's all intentional...all of it - COVID, Ukraine, "green agenda", pushing eating bugs, "synthetic" meat.

Still can't fathom how people "concerned about the planet" have little or no idea that all plants, and many algae, take the CO2 and make stuff out of it. They "fix" it.

And in "fixing" CO2, the plants release - holy shit!! - oxygen.

It's how plants work. It's how they always will work.

It's how "nature", writ large, works. It's called the "carbon cycle".

These narcissistic "green" fantasists are not only stupid, but they are insane.

Doh, Motherfuckers...it's "real" science.