Boy layoffs are coming fast!
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One thing Kansas has in common with China is no one wants to live in either place.
The difference with Kansas not being a potential ground zero for the next virus pandemic is the hygiene practices and differences in handling livestock vs China. Considering that the starting point was an open market of exotic livestock with all type of species slaughtered in the open, chances for something like that to happen increased.
Swine flu, bird flu whatever flu over the last 10 years has managed somehow to start in same neighborhood. Congestion, environmental pollution, lack of basic regulations and things happen.
Take a look at a video or photos of this open market and will become clear it is not Kansas
Russians wont make any money either. And they are dependent on the oil revenues.
Saudi Arabia today stated that they will ramp up production from 10 to 12.5 million barrels per day for the next several months. Hopefully not that long.
This is not China’s fault. Because of globalization a software virus (manmade) can go around the world in hours and a virus (from the natural bio world) can do the same in weeks to months. The next pandemic in x years could come from Kansas.
Cvx stock price below 57, this is 15 year low, this is a total disaster, unemployment will hit 20% soon
If you think the C virus caused all this, then I have some ocean front property to sell you.
WTI now at $20.54/barrel. Saudi Arabia today announced that they will continue production at near record levels of over 10 million barrels per day for the next several months. Teens by today or tomorrow.
- 30$, or almost 21% drop, nothing at this point can prevent massive layoffs all across the US, thank you China for eating c-ap and infecting everyone!
Just dropped below $22/barrel.
Hit $22.87 this morning
No consumption and increased production. Perfect storm for the oil industry. $10 is a possibility.
Already knew that. Check the post about WTI Not Pretty. Will likely fall to $23 or lower by end of week. The projected layoff headcount reduction will have to be revised upwards.