Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Economy

bucolic_frolic

(50,350 posts)

1. So I hear Joe Biden's DOE does some oil trading to stabilize the range of oil prices

Reply to Tansy_Gold (Original post)

Mon Jun 10, 2024, 09:04 PM

Jun 2024

and he's making fat profits from it!

Oil companies are happy, prices won't ever be $1.79 again, but they also won't be $8 in this decade at least.

By doing this won't there be fallout for the business cycle? Boom-Bust was an oil phenomenon. This could have implications for job stability too, as well as geopolitical conflict.

If economic information becomes instantaneous worldwide, we're almost there, will there be anything left to exploit? How do you make money when profits are driven to zero?

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

1 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH: Tuesday, 11 June 2024 [View all] Tansy_Gold Jun 2024 OP

So I hear Joe Biden's DOE does some oil trading to stabilize the range of oil prices bucolic_frolic Jun 2024 #1