Wary Jerry (jerry@infosec.exchange)'s status on Sunday, 04-May-2025 05:58:34 JST

@virtualinanity @kwayk42 the lower oil prices go in the US, the less economical is it for US oil producers to drill for and pump oil. New exploration and drilling break even is about $70/barrel. We are at $59/barrel now. The opec action could send it down to $50/barrel. This means that less of our oil (and oil byproducts like gas) will come from US companies. We will be capping wells, not drilling, shuttering refineries, and so on. This, by the way, also significantly curtails domestic nat gas production, at a time that the US is exporting more and more nat gas because we can sell it for much more abroad. At some point, likely after they see US production materially down, opec will slam on the brakes, which will send oil prices soaring. This is exactly what happened in Trump 45 and bleeding into Biden’s term, btw. It’s in the process of happening again.