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Oil dropping because an opec monopoly explodes is good news for most of the economy (outside of oil industries obviously). But a drop in crude because of demand
by 3fe9a03ccd14ca5 7y ago
Oil dropping because an opec monopoly explodes is good news for most of the economy (outside of oil industries obviously). But a drop in crude because of demand is bad for everybody.
- TeMPOraL 7y agoIt's not good for our emissions budgets either, but I guess we can worry about it after the coronavirus mess is behind us.
- huac 7y agono - oil dependent companies bought oil futures to hedge their price risk, so you shouldn't expect much benefit there. additionally, the high yield bond sector has a ton of energy company exposure, and those are falling through the floor. an extended price war could really obliterate those bonds, and their lenders. see eg https://twitter.com/TheStalwart/status/1237022304510660608 https://twitter.com/TheStalwart/status/1237022304510660608
- kibwen 7y ago>good news for most of the economy (outside of oil industries Not quite, it's bad news for renewables as well to see fossil prices fall.