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re: With No Strategic Reserve To Help Him, What Will Joey Do?

Posted on 4/4/24 at 1:35 pm to
Posted by Timeoday
Easter Island
Member since Aug 2020
9388 posts
Posted on 4/4/24 at 1:35 pm to
quote:

What do you think "reserve potential" means? All of the buyers I linked bought inventory ("sticks") - that's what is driving the acquisitions.


Let's see, reserve can mean supply. Potential can mean possible. But, can you answer the question, What will Joey do? Pump prices could be $6.00 by election so how do you think Joey will repair the problem he created?
Posted by cwill
Member since Jan 2005
54753 posts
Posted on 4/4/24 at 1:40 pm to
quote:

Let's see, reserve can mean supply. Potential can mean possible.


You don't know what it means or why those companies were making the acquisitions.

quote:

But, can you answer the question, What will Joey do? Pump prices could be $6.00 by election so how do you think Joey will repair the problem he created?


What is the problem and how did he create it? And note we have record oil production and so much natural gas it's basically uneconomic to drill new wells.

There's nothing that was done and there's nothing to do.

I think prices continue to rise through the summer and then OPEC+ drops some of their quota/cuts and ease prices back down into the $75-80 range...but like any oil price prognosticator, I'm bound to be wrong.
This post was edited on 4/4/24 at 1:47 pm
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