I think almost everything else has already been beaten to death in the forum and Toyota isnt tempting us with Gen5 or EV or other stuff I/we are hungry for lol
plugging in - in some instances is free (pubicly or home PV). It's a whole lot less often that you ever see gas stations giving away gasoline for free. .
Gas was literally 99 cents locally when I traded the Prius for a hot rod Cadillac last year. Was looking to warm up the climate too. Very cold out.
Flushing Tesla? No it's probably an international oil supply fight. USA oil output is now on par with Russia and Saudi, and we're duking it out with Coronavirus as the sudden catalyst. They are saying Coronavirus is winter-dependent and so is lower gasoline price, so we have a harmonic convergence allowing me to go for $1.00 predicted/speculated low price this year.
"They" who? So far, I've seen such claims only from politicians, while the science and medical folks leave it as an unknown and refuse to speculate.
More items towards that: Putin Targets U.S. Fracking With Oil Price War, in New Threat to Trump's Election-Year Economy But some of the voices mentioned in the article believe that Russia's moves are more about protecting its own economy from this coronavirus outbreak than about hurting U.S. shale producers. Saudi Arabia tried to shake out U.S. shale in 2014. While they succeeded in driving hundreds of companies into bankruptcy, they didn't seem to appreciate our bankruptcy system that allows a path to continued operations under reorganization, while shedding much debt. So shale oil production was much more resilient than the Saudi's expected. Russia could face the same issue.
Friday, Russia refused to go along with OPEC+ efforts to reduce oil output and help stabilize prices. Putin started an Oil Price War. Today, Saudi Arabia fired the next shot of this war. It retaliated against Russia by offering steep discounts ($7 to 9 / barrel) to the U.S., Asia, and Europe. This will further hurt U.S. shale producers beyond what Putin would do to them, but gives some relief to the airlines and others hurting from this epidemic-driven economic downturn: Saudi Arabia Stuns World With Massive Discount In Oil Sold To Asia, Europe And U.S. --------------------------------- I won't use the lower prices to go on an oil-burning binge. Those who have the power to drive prices down now, can drive them higher again later. Don't get caught in a future trap.
Those aren't prices. Those are gamblers betting what the prices will be in the future. SA announced they are cutting the price of their light crude by $5-$6 for the USA, and I believe $5-$7 for Europe.
Commodity futures are actual prices that folks are using now. Yes, they are speculating where spot prices will go in the future, and plenty of gamblers are in the game, but real buyers and sellers are locking in contract prices now. From the article linked at post#54: "So, Saudi Arabia is doing an about face. If it can't get the price back up, it's going to drive the price way down. It's offering to cut the oil price for the U.S. market by $7 per barrel, to Europe by $8 and Asia by $6."
Major stock index futures have crashed too. S&P500 and Nasdaq futures for Monday's opening have fallen to their respective circuit breakers and ceased trading. (These breakers are narrower than the live market breakers during the normal business day.) Some rose just enough to resume temporarily, but then fell back and stopped again. The Dow's DJIA is hovering just above its circuit breaker. I see no mention of it having hit tripped its breaker. These overnight futures are a higher order of speculation than the regular stock market, and more thinly traded, so can be more volatile. So sit tight, or at least look carefully in both directions before jumping into the game. ===================== Treasury futures have also hit new record lows: "The benchmark 10-year Treasury yield broke below 0.5% for the first time ever .... The 30-year Treasury yield also hit a record low of 0.974%, breaching the 1% threshold for the first time in history." Monday is setting up to be a quite exciting market day, no matter what direction it finally decides to go.
gas war prices ~ does that mean we're going back to 4 or 5 guys racing out to check your tires, radiator, oil, fill 'er up & clean your windshield? Probably not. .
