$80 a Barrel "Unhealthy"

[Marina Schwarz + 1,576]

So says Bob Dudley. I usually like to poke fun at people stating the obvious but this obvious piece of fact needed to be stated.

[Tom Kirkman + 8,860]

“The oil prices in the world are too high and it’s unhealthy for the world,” said Bob Dudley, the chief executive officer of British oil-and-gas giant BP.

There doesn't seem to be a way for me to upvote this more than once.

Cheers, Marina.  Too many greedy pundits are still lusting for triple digit oil again.  Stupidity.

Anyone recall the mantra a few years ago:

● "Lower for longer"

Which morphed into 

● "Lower forever"

Apparently forgotten forever already...

 

[jaycee + 348]

11 hours ago, Tom Kirkman said:

Anyone recall the mantra a few years ago:

● "Lower for longer"

Which morphed into 

● "Lower forever"

Apparently forgotten forever already...

 

That was my cue to ramp up my oil investments just as the talk of $100 a barrel has got me selling them down. The media and traders always get to the point where they talk nonsense in the desire to continue a narrative that is always the time to go the other way.

[Tom Kirkman + 8,860]

6 hours ago, jaycee said:

That was my cue to ramp up my oil investments just as the talk of $100 a barrel has got me selling them down. The media and traders always get to the point where they talk nonsense in the desire to continue a narrative that is always the time to go the other way.

Smart move.