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These prices are the result of the Saudi's flooding the market with oil that costs them pennies to extract compared to costs of all the competitors, mainly Russia. They are trying to force the competition out of the business because they can't even cover costs at these prices - US companies included. Check out the US oil company stocks, all in the toilet.
I know someone who works at a large investment firm and manages their energy portfolio. He tells me that this will likely last a few years and could actually cause some pretty significant issues for our economy.
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