Local ND Economy News

[shorthairsrus]

All i can say - is we need to desperately open this country back up. Leave the schools closed Lets go back to work america

The traffic today was very close to a non school day traffic. Road construction signs are up were going back to work regardless.

 

[Reprobait]

There has never been a better time for term limits - 1/2 the members of Congress most people on this message wouldn’t hire to mow their lawn. I wouldn’t stop there either - if a person had never worked in the private industry or paid in taxes they shouldn’t be able to run for office - they should be elected on ideas and the reasons for them instead of the party they belong to, name recognition, what they media thinks of them, what Hollywood thinks of them, and quite frankly in some cases what their race/religion is. I contend if the candidates in Al Greens (dumbest member of Congress) district were faceless and people could only vote on their ideas and successes instead of what they look like and name recognition people like Al Green would never win another election.

you have a higher opinion of congress than I do. There isn't one there that I would give you 10 cents for. The are ALL concerned only about their own wealth, power, party, and privilege. Saudi Arabia and other foreign governments hire lobbyists. The average working schmuck in this country has no one lobbying for them.

 

[Coalburner]

OPEC + was all the former members and the Russians were added to the group, thus the plus. Before the crude collapse in March the OPEC members minus the Russians want to limit oil production to keep the price up. Multiple news releases followed the negotiations. It was the Russians that refused to limit production and opened the taps. Then others followed.

Just a conspiracy theory here, but Russia saw a chance to screw the western economies and weaken their competition in shale production areas. So they pulled the trigger. Who is our best ally in the middle east, Russia or the Saudis?

The CV19 battle is a war brought to our country and every swinging person is drafted into the fight. The health of the citizens is threatened and the health of the economy too. There are casualties in both.

A lot of points I agree with here but the other side to what you are saying is the fact that Saudi Arabia used negotiations with Russia to flood the market with oil. They will not be able to do this long term as their entire government is run by oil and as soon as they cannot pay for government expenditures there is civil unrest. Civil unrest in countries like this is never good. This was more of a power move by the Crown Prince of Saudi Arabia to show both the United States and Russia that they can pump oil cheaper than anyone if it comes to that. This is not the first time they have threatened to do this. Saudi Arabia is very threatened by shale production in the United States.
All that being said I would not tell anyone to go out and buy oil productions stocks right now (Devon, Exxon, Occidental, or Continental) because there is no demand and that is not coming back anytime soon if we do not open up the US economy. A lot of smaller upstream, midstream, and downstream companies are going to file for bankruptcy protection soon if they do not get these businesses up and running.