In the financial news...

[Jeff Matthews 2807]

Crude is at its highest since Jan. 2020, and almost every major world stock index future is up.  Tomorrow will be interesting... maybe.

 

 

[MyOwn 3098]

Here you go...🍻

 

https://www.axios.com/marijuana-stocks-legalization-074ae9d1-127f-46a9-b084-8fd043efadf8.html

[Gilbert 1149]

3 hours ago, MyOwn said:

Here you go...🍻

 

https://www.axios.com/marijuana-stocks-legalization-074ae9d1-127f-46a9-b084-8fd043efadf8.html

 

Hopefully it will be decriminalized/legalized and what have you..... but how can a company or business the sells an illegal substance (at the US Federal Level and almost all county's on planet earth) be traded on the US Stock Market.

[BigStewMan 19982]

43 minutes ago, Gilbert said:

 

Hopefully it will be decriminalized/legalized and what have you..... but how can a company or business the sells an illegal substance (at the US Federal Level and almost all county's on planet earth) be traded on the US Stock Market.

watched a show last week ... historically they've had to deal in cash due to banking being federally regulated. some lady in Colorado started a credit union specifically for people in that industry. she said they did two billion last year. 

[Gilbert 1149]

I don't doubt the sales and profits for a moment....  marijuana sales will save the state of CA and keep all those lofty State/County/City pensions paid for......   I just don't understand how an illegal commodity can be traded on the US Stock Market.

[Jeeper 40]

49 minutes ago, Gilbert said:

I don't doubt the sales and profits for a moment....  marijuana sales will save the state of CA and keep all those loft pensions paid for......   I just don't understand how an illegal commodity can be traded on the US Stock Market.

Good Point Gilbert.

[JL Sargent 7413]

On 2/1/2021 at 9:16 PM, Jeff Matthews said:

Crude is at its highest since Jan. 2020

Of course. We just stopped construction on a 800,000 gallon a day pipeline to Texas didn't we?

[JJkizak 1386]

5 hours ago, JL Sargent said:

Of course. We just stopped construction on a 800,000 gallon a day pipeline to Texas didn't we?

Most of that oil was for the Gulf port for foreign distribution I believe.

JJK

[henry4841 313]

15 minutes ago, JJkizak said:

Most of that oil was for the Gulf port for foreign distribution I believe.

JJK

Now we will be buying oil from foreign countries because we will not have a surplus to sell. Makes sense to me. 

[Gilbert 1149]

23 hours ago, henry4841 said:

Now we will be buying oil from foreign countries because we will not have a surplus to sell. Makes sense to me. 

 

The United States has been importing foreign oil since forever, nothing new, at least not during our lifetimes. It wasn't until the early 70's that a wakeup call came in the form of OPEC.... the "why" is a whole other story that involves Israel.... or course. Not sure how many are aware, but Saudi reportedly purchased SHELL a year or so back. They pulled the plug on their Louisiana refinery just last year. Importing oil is nothing new, except that US drilling was made a little harder and the pipeline for Canada's heavy sludge export was temporarily postponed,... again.

 

It's purely political and has much more to do with $$ than the environment or alternative energy sources.....  The O&G industry contributes heavily to team RED and the polluting "Green Energy" industry gives their kick-backs to team BLUE. Politics.....   same as it ever was.

[Jeff Matthews 2807]

On 2/5/2021 at 3:17 PM, henry4841 said:

Now we will be buying oil from foreign countries because we will not have a surplus to sell. Makes sense to me. 

How do you know we will not have a surplus?