maybe next week but trading closes for weekend and price is coming of 2 week low
also with the drop in Indices commodities are getting interest from traditional traders seeking wealth preservation.
why i think it probably won't go too much lower is coming energy restrictions will put significant premiums on oil gas etc into 2019 but is yet to be seen
why i think it probably won't go too much lower is coming energy restrictions will put significant premiums on oil gas etc into 2019 but is yet to be seen
What do you mean?
Raising prices for the consumer?
Increased taxation on gasoline?
It should decrease consumption and by this decrease demand.
Taxation is a downward pressure on whatever commodity that is taxed.
It is a reason for a decline in prices.
The price that futures regard is the price before taxation, not after.
yes but oil is unique as their are no alternatives that can replace every mechanical industry in the world so even if the raise taxes their is no choice but to pay premium
There are alternatives:
Natural gas, electric energy that can be produced from fuels that are produced from biologic sources or from conversion of solar or hydroelectric or geothermic or nuclear energy.
Reduction of consumption is another reaction to taxation.
For example I have no car, due to its purchase+taxation+insurance+benzine+repairs costs.
The higher taxation will be, the more people will respond the way I do.
And even if it was true, that gasoline has no replacement and people had no choice but to buy it, taxation on it would not have pushed its prices before taxation higher.
In fact, even then it would have applied a downward pressure on its price, due to the universal deflationary effect of taxation.
also the taxation on gasoline and crude oil are different
even if every average person were to stop using fossil fuels construction and production industries will use the same if not more if there are less cars on the roads industries will be incentivized to setup with easier road transport
also its not feasible for everyone to not use a car as most countries have poor public transportation and will be a necessity to families
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According to this advice, anything above 71.2 is too expensive.
First punish stop losers, then go higher.
And it may dip way below 70$.
Why not?
maybe next week but trading closes for weekend and price is coming of 2 week low
also with the drop in Indices commodities are getting interest from traditional traders seeking wealth preservation.
why i think it probably won't go too much lower is coming energy restrictions will put significant premiums on oil gas etc into 2019 but is yet to be seen
What do you mean?
Raising prices for the consumer?
Increased taxation on gasoline?
It should decrease consumption and by this decrease demand.
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price would be artificially high due to premiums by taxes
demand will be similar still years away from sustainable alternatives worldwide
Taxation is a downward pressure on whatever commodity that is taxed.
It is a reason for a decline in prices.
The price that futures regard is the price before taxation, not after.
yes but oil is unique as their are no alternatives that can replace every mechanical industry in the world so even if the raise taxes their is no choice but to pay premium
https://www.eia.gov/outlooks/steo/report/global_oil.php
There are alternatives:
Natural gas, electric energy that can be produced from fuels that are produced from biologic sources or from conversion of solar or hydroelectric or geothermic or nuclear energy.
Reduction of consumption is another reaction to taxation.
For example I have no car, due to its purchase+taxation+insurance+benzine+repairs costs.
The higher taxation will be, the more people will respond the way I do.
And even if it was true, that gasoline has no replacement and people had no choice but to buy it, taxation on it would not have pushed its prices before taxation higher.
In fact, even then it would have applied a downward pressure on its price, due to the universal deflationary effect of taxation.
not that there is no replacement just that replcing current world industries would take more than 20 years with solar and wind https://www.greentechmedia.com/articles/read/grantham-wind-solar-to-replace-fossil-fuels-within-decades
also the taxation on gasoline and crude oil are different
even if every average person were to stop using fossil fuels construction and production industries will use the same if not more if there are less cars on the roads industries will be incentivized to setup with easier road transport
also its not feasible for everyone to not use a car as most countries have poor public transportation and will be a necessity to families
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Hi @isacoin!
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