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Message
re: Arkansas based Murphy Oil posts record 3Q loss: $1.6B
Posted on 10/29/15 at 8:29 am to lsucoonass
Posted on 10/29/15 at 8:29 am to lsucoonass
quote:
It was fine at a 1.00
It was actually fine at $3.00 according to consumers.....technically. The demand was not affected greatly at that price. It's over $4.00 before it actually affects the demand side of supply and demand. It's nicer on our wallets right now, but this is not the "real" price. Real price is set by where demand and supply come to an agreement. Supply is agreeing to sell at a really low price right now. But that is purely due to certain producers positioning themselves to gain more market share. After that, they will go back to raising prices. And they suppliers will not agree to sell this low, especially when they know the demand side will agree at $3+ per gallon. This will ultimately have a net positive affect for producers. Oil/Energy pricing is stupid, volatile, political, and almost always bad for the buyer in the end.
2
Posted on 10/29/15 at 8:30 am to FelicianaTigerfan
quote:
They have a newly built terminal north of BR that a few of my friends work at. According to them they are busy as ever and exanding
That's Murphy USA, no?
That's not Murphy Oil. They split their production and their convenience side a couple years ago.
Posted on 10/29/15 at 9:22 am to Hawgeye
Everyone I know who has worked for them told me they were deepwater at heart and inefficient as shite at land production
Posted on 10/29/15 at 9:55 am to LaPlace Mafia
quote:
This is on their refining side.
Your info is outdated - they got rid of the refineries some time ago. They are pure E&P/Upstream now.
Posted on 10/29/15 at 10:08 am to Hawgeye
quote:
That's Murphy USA, no? That's not Murphy Oil. They split their production and their convenience side a couple years ago.
Maybe so
I actually Murphy Energy. Not sure
This post was edited on 10/29/15 at 10:11 am
Posted on 10/29/15 at 10:16 am to KG6
quote:
It was actually fine at $3.00 according to consumers.....technically. The demand was not affected greatly at that price. It's over $4.00 before it actually affects the demand side of supply and demand.
Are you sure about that? Short term increases in price yes, but the costs of goods and services was really starting to shoot up due to the sustained pricing increases. People were noticing that their grocery bills, electric bills, etc were costing more in addition to their fuel bills.
This post was edited on 10/29/15 at 10:17 am
Posted on 10/29/15 at 10:24 am to elprez00
That truck terminal on 61 is Murphy Energy.
No relation.
No relation.
Posted on 10/29/15 at 10:24 am to 2indapink
quote:
That truck terminal on 61 is Murphy Energy. No relation
Oh ok
Posted on 10/29/15 at 10:35 am to Hawgeye
Had an offer from them in late 2013. Guess I'm real glad I didn't take it. Couldn't live in El Dorado.
Posted on 10/29/15 at 10:42 am to Hawgeye
That's a shite ton of people not cleaning their wood floors in just one quarter. Why have households stopped using Murphy's Oil?
Posted on 10/29/15 at 11:02 am to KG6
we're all screwed...
Posted on 10/29/15 at 11:04 am to elprez00
Has any of that dropped??? No. We've been at 3 dollars+ a gallon for nearly 5 years before this and there was no major shift in demand. It's nice right now. I agree. I'm just not naïve. Prices will rebound. This is not a market correction that will stay. Prepare your wallets and your anus. Especially when it kicks back in, and all these people are in different careers or retired. Going to be harder to get started again, and we will have a supply reduction. I think that's a year or two away, but I do think it's coming.
Also, you and everyone you knew probably did not change your lifestyle greatly because of gas prices at 3+ bucks. You wouldn't have lived in a larger house, you wouldn't do anything major. It's nice and you have more money, but most people can live with it. Therefore, they are going to charge you that. And that is proven by the fact that we did it for 5 years.
Also, you and everyone you knew probably did not change your lifestyle greatly because of gas prices at 3+ bucks. You wouldn't have lived in a larger house, you wouldn't do anything major. It's nice and you have more money, but most people can live with it. Therefore, they are going to charge you that. And that is proven by the fact that we did it for 5 years.
Posted on 10/29/15 at 11:08 am to KG6
I just want oil back at $80. Is that too much to ask?
Posted on 10/29/15 at 11:08 am to Cosmo
Actually the price of used trucks and full size SUV's is through the roof. With the low gas prices makes them extremely valuable. As far as people trying to offload them they owe a whole lot more than $30k on them so it's not like a mortgage banks don't do short sales on autos
Posted on 10/29/15 at 11:25 am to lsucoonass
quote:
Yeah, yeah they were actually.
Should have known this was coming after oil was artificially inflated a few years bac
Nah, they never were
Posted on 10/29/15 at 11:30 am to Hawgeye
quote:
Arkansas based Murphy Oil posts record 3Q loss: $1.6B
Do they make the old Murphy's oil? I hope not, that stuff is awesome and keeps our 1957 Chris Craft looking awesome.
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