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Started By
Message
re: Oil down to 17 dollars bbl
Posted on 4/20/20 at 7:29 am to cwill
Posted on 4/20/20 at 7:29 am to cwill
quote:
Our O&G pilicy didn’t really change under trump, we continued our relationship with KSA without much change.
fricking liar, he approved every pipeline possible and made becoming energy independent a major goal and stopped threatening to kill the industry as a goal
0
Posted on 4/20/20 at 7:37 am to GeauxFightingTigers1
quote:
If you liked oil at $17, your going to love it at $11. If this level doesn't hold, $5 on deck, then $0, then negative.
Right now the strip reflects the storage issue coming to ahead in may and then banks on the world opening up that same month with June futures trading @ $22. I’m bearish, though, I think it’s going to take a while for demand to ramp up enough to drain the storage.
Posted on 4/20/20 at 7:39 am to cwill
Gotta get the airplanes in the air and braylen to his travel ball tourneys
Posted on 4/20/20 at 7:39 am to cwill
quote:
Right now the strip reflects the storage issue coming to ahead in may and then banks on the world opening up that same month with June futures trading @ $22. I’m bearish, though, I think it’s going to take a while for demand to ramp up enough to drain the storage.
Agree there. I think even if stuff starts coming back the amount of oil supply over the demand is not sustainable, storage wise.
I guess overnight that was the biggest crash for WTI over 35%.
Posted on 4/20/20 at 7:43 am to The Shed
Congrats on being a piece of shite and being insecure because some oilfield boys were making decent money at one point.
Posted on 4/20/20 at 7:45 am to Nado Jenkins83
quote:
Gotta get the airplanes in the air
Have you noticed how few planes are in the air? I live in the loop (610) Houston and from there you see a lot of the hobby traffic...totally dead. I just don’t see people jumping on planes right away.
This post was edited on 4/20/20 at 7:46 am
Posted on 4/20/20 at 7:47 am to deltaland
Trump should literally buy all the oil under $20 as a "grand" strategic reserve, then sell that shite every time it pops over $40. That's what the Chicoms have been doing for years with gold.
Talk about a deficit buster.
Talk about a deficit buster.
Posted on 4/20/20 at 7:50 am to Ace Midnight
quote:
Trump should literally buy all the oil under $20 as a "grand" strategic reserve, then sell that shite every time it pops over $40. That's what the Chicoms have been doing for years with gold. Talk about a deficit buster.
He already authorized the filling of the strategic reserve, the demand has fallen off so bad... every freaking oil can is going to be filled. Some oil products are already selling at a negative price, meaning you have to pay someone to take it and store it.
Trump is already negative by quite a lot on the oil purchases if they were made.
LINK
quote:
What was not immediately clear was whether the purchases require congressional approval. The reserve can be filled at a rate of 225,000 barrels a day for most storage sites, the Energy Department said in 2016.
Not sure if that is correct, but we probably have access of 20-30m barrels a day too much. You could in theory fill up the strategic reserve from 0 (which is not where it is) to 700m barrels in a little over a month easy.
This post was edited on 4/20/20 at 7:57 am
Posted on 4/20/20 at 8:00 am to GeauxFightingTigers1
Yep. Nowhere left to put it.
Posted on 4/20/20 at 8:02 am to GeauxFightingTigers1
Some pipelines won’t let you put it in unless there is a contract on the other side to take it. That’s never happened before.
Posted on 4/20/20 at 8:03 am to GeauxFightingTigers1
The evil crone and her cronies stripped away the plan to fill the Strategic Reserve
Enemies of the People
Enemies of the People
Posted on 4/20/20 at 8:03 am to deltaland
Under $12 now (11.18 and heading down)
This post was edited on 4/20/20 at 8:04 am
Posted on 4/20/20 at 8:06 am to TeLeFaWx
My guess, some of this demand never comes back. Or at least for a very long time.
Ah, I didn't know that. Wouldn't have mattered much anyway in the big scheme of things.
quote:
The evil crone and her cronies stripped away the plan to fill the Strategic Reserve Enemies of the People
Ah, I didn't know that. Wouldn't have mattered much anyway in the big scheme of things.
This post was edited on 4/20/20 at 8:08 am
Posted on 4/20/20 at 8:26 am to GeauxFightingTigers1
Aaaaaand, there it is...oil at $11/bbl this morning.
Posted on 4/20/20 at 8:28 am to NoHoTiger
quote:
The why the duck are we still paying $2.75+ a gallon for gas? California sucks donkey balls.
Because you all keep electing people into office that tax the frick out of you. Taxes are per gallon regardless of the price of oil. The government always gets their share for doing nothing while the company responsible for spending a fortune to produces the oil loses money.
Posted on 4/20/20 at 8:34 am to dreigh
quote:
Aaaaaand, there it is...oil at $11/bbl this morning.
Posted on 4/20/20 at 8:48 am to TeLeFaWx
quote:
Some pipelines won’t let you put it in unless there is a contract on the other side to take it.
That's what she said.
Posted on 4/20/20 at 9:01 am to The Shed
quote:Well this is stupid. Low prices now => no drilling => future supply shortages => $120BBL oil. It's not like no one has ever seen this cycle before.
When oil was 120bbl they were all laughing on their way to the bank. Who's laughing now?
Posted on 4/20/20 at 9:07 am to Taxing Authority
quote:
Low prices now => no drilling => future supply shortages => $120BBL oil. It's not like no one has ever seen this cycle before.
Bingo
And don't forget, O&G workers pay those same gas prices when oil is $100+. People think that extra $2/gallon goes straight into the pocket of Ronnie the Roughneck
Posted on 4/20/20 at 9:09 am to Boring
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