Oil hits 4-year low, coffee falls as trade war escalates

https://dashboard.waterdata.usgs.gov/app/nwd/en/

Right sidebar, Hydrology -> Aquifers -> ON

Then check local ordinances to see if there are prohibitions against living in an RV on your property. Typically you want to stay away from properties which specify "Covenants and restrictions apply" because they typically prohibit RV living.

$99 Down + $149 closing fee and $75 monthly for 35 months: https://www.landwatch.com/ozark-county-missouri-recreational...

This is not how supply and demand works in a competitive market. If demand drops, supplier compete on price and it leads to a reduction in price. They don't up the price to try to "make up", they can't, because someone next door will accept the lower price to get rid of their supply.

More likely, another force is the expectation that the world economy will contract decreasing the demand for everything everywhere driving down the price despite the taxes increasing the price for United States consumers.

In other words: It doesn't work like that. They might want to try to make up for the loss, but they have to compete with other manufacturers, some of whom will be desperate to make up the sales at lower prices.

Lower prices might be good for countries like Germany to stockpile for Winter (so oil & gas they'd already use anyways) while hurting producers that rely on it being a high price to be profitable.

Less profitable may lead to less investment in oil development while wind, solar, and other means become more prevalent.

However, Venezuela's oil is a good bit harder to refine than Saudi oil which is just about the simplest oil to refine. The US controls most of the good refineries (and related technologies) to effectively refine Venezuela's oil, but the US doesn't tend to trade much with Venezuela (lots of history to read there).

So yes, Venezuela has a lot of oil, but it is oil most of the world's refineries don't want to/can't deal with.

As a note, this is also a part of the reason why even though the US is a net exporter of oil we still import a ton of oil. We've got good refineries for processing the cheap difficult to handle stuff most of the world doesn't want to touch (largely because we built it designed to handle Venezuela's oil) and we export stuff that's the "fancy" stuff easy to refine pretty much everywhere.

There's a lot of nuance I'm glazing over there. Read up more about the history of US-Venezuela oil trade, it is quite a history.

From day 1 OPEC has been a loose association off frenemies that occasionally manage to work together for a while when enough of them are sufficiently hurting/greedy at the same time. They break due to producer rivalries every few years.

Oil in the ground is marginally more valuable than pie in the sky. There is nearly unlimited oil in the ground, but you have to find it, extract it, and show a profit after you subtract your expenses. Each step is harder than the last. Saudi oil is like $10 a barrel to produce. You can practically dig it up with a shovel. And it's high quality...a benchmark grade that a lot of the world's refineries are set up for. Much of Venezuelas oil is deep underwater and/or garbage quality. Think huge expensive deep water oil rigs and pumping high pressure kerosene into the ground to loosen up the tar/oil sands enough to get a nasty chunky sandy sludge out of the ground that a lot of refineries can't even process. And it doesn't help that they're under sanctions and don't domestically produce a lot of the equipment they need to extract their oil. And rampant corruption. Venezuela's massive reserves have equally massive challenges turning into profitable oil production.