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Started By
Message
re: Oil suffers record plunge below $11 amid historic glut
Posted on 4/20/20 at 10:14 am to Major Dutch Schaefer
Posted on 4/20/20 at 10:14 am to Major Dutch Schaefer
Is wcs negative yet? Has to be getting close
0
Posted on 4/20/20 at 10:14 am to SulphursFinest
(no message)
This post was edited on 10/22/20 at 7:46 pm
Posted on 4/20/20 at 10:15 am to kywildcatfanone
quote:
I got gas the other day at $0.33 a gallon
I find this hard to believe. The federal excess tax is 24.4 cents per gallon. Not sure what it is in your state.
Posted on 4/20/20 at 10:16 am to Powerman
quote:
I find this hard to believe. The federal excess tax is 24.4 cents per gallon. Not sure what it is in your state.
Reading is fundamental.
Posted on 4/20/20 at 10:16 am to WaWaWeeWa
quote:
What happens when the price of a gallon of gas is more than a barrel of oil?
Buy a refinery
Posted on 4/20/20 at 10:16 am to Powerman
quote:
I find this hard to believe. The federal excess tax is 24.4 cents per gallon. Not sure what it is in your state.
I saw it in nola for .88 cents a few weeks ago
Posted on 4/20/20 at 10:16 am to Klark Kent
quote:
laugh it up. hundreds of thousands of people in the South are employed directly or indirectly by the O&G industry.
And a lot of them on this board claim they are safe because they are somewhere on a stream or some such shite.
Posted on 4/20/20 at 10:16 am to Upperdecker
quote:
Planning to use my stimulus check to stock up on used truck nuts and mud tires
You guys make fun of those field hands, but we all will be affected along the gulf coast. Local business depend on that industry's health.
Posted on 4/20/20 at 10:17 am to ClampClampington
Most of the active rigs in Louisiana are drilling dry gas shale wells. They will likely remain at about the same number with natural gas looking to strengthen into 2021 and most of them currently hedged anyways. The Texas and Oklahoma plays are beyond dead at these prices and Midland/Odessa is probably a bad place to be currently.
Posted on 4/20/20 at 10:17 am to arcalades
quote:
Governors dont raise taxes. Open a civics book.
Technically you are correct. But in reality JBE lead the charge on the tax increases. He threatened, cajoled, and did whatever he had to do to get them passed.
As he will again.
Posted on 4/20/20 at 10:19 am to arcalades
You are correct in that they cannot unilaterally raise taxes. But they sure as shite can campaign for them
Posted on 4/20/20 at 10:23 am to Major Dutch Schaefer
IF there was ever a time to put in a UST and fill it with cheap gas, that time is now...
Posted on 4/20/20 at 10:24 am to Bjorn Cyborg
lol, people forget JBE threatened to shut down LSU football. The man is a walking billboard for increasing your taxes.
Posted on 4/20/20 at 10:26 am to Major Dutch Schaefer
would you rather
6 pack of beer
or
42 gallon barrel of oil
both are similar in price
6 pack of beer
or
42 gallon barrel of oil
both are similar in price
Posted on 4/20/20 at 10:30 am to iron banks
quote:
I believe they plan the budget for 65 a barrel
I hope they weren't that foolish. The industry was already in a decline in Q1 2019. I think the more realistic price would have been $40 - $45.
Posted on 4/20/20 at 10:32 am to TigerDog83
quote:
Most of the active rigs in Louisiana are drilling dry gas shale wells. They will likely remain at about the same number with natural gas looking to strengthen into 2021 and most of them currently hedged anyways. The Texas and Oklahoma plays are beyond dead at these prices and Midland/Odessa is probably a bad place to be currently.
You have some that are hedged and you have some companies who are in contracts to supply a certain amount of gas each month to support things like power production. The Haynsesville is the safest place to be currently. The absolute worst place to be is the Delaware and Midland basins. They will get completely wrecked. Expect less than 100 rigs operating in the coming months.
This post was edited on 4/20/20 at 10:36 am
Posted on 4/20/20 at 10:34 am to LSU Coyote
quote:
You guys make fun of those field hands, but we all will be affected along the gulf coast. Local business depend on that industry's health.
This. It's like working at Target in Las Vegas and being giddy that all the casinos suddenly close down. Too stupid to realize the impact it'll have on everything around you locally, regionally, and nationally.
Posted on 4/20/20 at 10:34 am to Klark Kent
Houston is totally screwed
Posted on 4/20/20 at 10:34 am to ClampClampington
quote:
I think only one LA rig shut down last week. But almost 70 across the country shut just during last week, primarily Texas and New Mexico. But yes, probably a lot more this week
There will be more. Operators are laying them down as they finish up current wells and/or pads.
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