Oil will open this week at $20.61 a barrel. There’s a reasonable chance West Texas Crude will be trading at the $10 dollar per barrel price later in the week. In some trading hubs oil is already being unloaded just above the $5 dollar mark to just get rid of oil.
I’ve posted this video above because I think it should simplify for the average Oklahoman who voted for Donald Trump why this is playing out like it is with Putin, the Saudis, and the U.S. shale companies of which ones like Chesapeake, Devon, and Continental played such an integral role in giving Oklahoma City something not only to sale to David Stern, but in reality to the entire world that Oklahoma was finally going to become something of note beyond the OU football program.
This could have so easily been averted by the Trump administration by simply reigning in the Saudis and telling them to back off with this stupidity of their play against the Russians. One would have thought the great Art of the Deal reality television star would have figured this out.
In 2012…Aubrey McClendon was at Chesapeake, Larry Nichols was still at Devon, and Harold Hamm was active in the day to day operations of Continental. Sadly, none of these three are the CEO’s of the three companies which in essence fueled Oklahoma City’s rise to national prominence along with Kevin Durant, James Harden, and Russell Westbrook.
It is stunning these white Trump supporters in Oklahoma aren’t even in touch with the reality of their support of Donald Trump and the dynamics of their own bread and butter industry. Absolutely stunning the lack of acumen on any level we would expect from an average fourth grader….except of course unless you were playing oil short.
I’m not trying to be funny, this is going to be devastating to Oklahoma on every imaginable level of economics which will trickle down to every level in the state.
In closing…I’m going to play the Dave Chapelle video again even though I’m in Day 5 of my intervention. I’m not doing this be mean. But at some point it must be illustrated a person needs to be well versed enough to the extent that that he or she can at least vote in their own self-interest from an economic standpoint. To be able to browse the U.S tax code and connect the dots…things like that and others.
These aren’t deplorable people, but rather just people who would vote Republican blind regardless of the candidates involved in any particular race.
BTW…ask yourself this — do you think Hillary Clinton and Gary Cohn from Goldman Sachs would have handled this in this manner to this extent or would they have called in their marker with the Saudis?