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Thread: The curve is huge, I'm getting a little scared. How are you holding up?

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03-28-2020, 02:39 PM #8
Lovinglifeinaustin

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Verified Hobbyist BCD

Join Date

May 2018

Location

West of Weird 20 miles from Austin

Posts

4,262
Originally Posted by eddd999

The Houston economy is still very oil dependent. The price of west Texas oil was 27.10 a barrel on Friday. The break even price for Texas producers is the 50-60 dollar range Russia and Saudi Arabia are dumping oil on the market in effort to put all the small and medium us oil producers out of business and make the us again dependent on imports. This is getting no press coverage or any action from Washington

The Saudi’s efforts are intended to hurt the Russians for not playing ball and cutting back production with the other opec nations. It will hurt Russia’s economy much more than the US. Houston and other places defendant on oil will suffer. Hopefully that suffering will be short lived. I’m guessing that Russia will give in soon.

James
Loving life in Austin
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