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gab13by13

(31,267 posts) Sat Jan 10, 2026, 02:02 PM Saturday

Do We Really Have A Glut OF OIL

I listened to an energy expert on CNBC, and he isn't buying it. He stated that a lot of the oil storage sits in tankers in the South China Sea, tankers that can be seized by China. He stated if oil was so plentiful it would be cheaper to store it on land rather than in tankers at sea.

Contrary to what Krasnov is saying about 50 dollar per barrel oil, this expert is saying that the price of oil is going to go up, and it did go up 2 or 3 dollars since I heard him speak.

Will Krasnov's oil buddies continue to keep gasoline below 3 dollars a gallon?

Food for thought.

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Do We Really Have A Glut OF OIL (Original Post) gab13by13 Saturday OP

Doesn't make any sense to me either jmbar2 Saturday #1

jmbar2

(7,657 posts)

1. Doesn't make any sense to me either

Reply to gab13by13 (Original post)

Sat Jan 10, 2026, 02:43 PM

Saturday

I spent a part of my career working in Texas as a contractor for various oil companies (created training programs). Every time the cost of oil drops, they'd immediately start layoffs. Oil companies don't want the cost of oil to drop.

I can't believe that orange dumdum doesn't understand this. Perhaps some of the oil execs enlightened him this week.

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