- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Oil suffers record plunge below $11 amid historic glut
Posted on 4/20/20 at 10:36 am to OysterPoBoy
Posted on 4/20/20 at 10:36 am to OysterPoBoy
quote:
Half that price is probably the metal for the barrel.
0
Posted on 4/20/20 at 10:36 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.
You literally stopped quoting my text at the point it answered your question
This post was edited on 4/20/20 at 10:38 am
Posted on 4/20/20 at 10:37 am to SulphursFinest
The lower the better. Cheap gas and no where to go
Posted on 4/20/20 at 10:39 am to iron banks
quote:
iron banks
quote:
Louisiana budget is fricked. I believe they plan the budget for 65 a barrel. Of course JBE will get the blame when it is conservative legislators that set that up. Funny I hate the Democrats on the Federal level and the Republicans on the state level
They priced it in at $59/barrel earlier this year with that amount providing a decent surplus that JBE was itching to get his hands on. The Revenue Estimating Conference (REC) held it up for awhile and hadn't met again. Thankfully they didn't. Otherwise we'd be up a shite creek.
But make no mistake, even if we readjust it down to $10/barrell or less, that's going to be a massive hit to the State Budget. We're gonna be hurting. Bad.
Posted on 4/20/20 at 10:39 am to ClampClampington
quote:No, 5. 31 to 26
I think only one LA rig shut down last week.
Posted on 4/20/20 at 10:40 am to MrLSU
quote:
Houston is totally screwed
Houston is diversified enough. Although the hospital systems around the country are taking a hit from Covid-19.
Posted on 4/20/20 at 10:50 am to GFunk
$12 million for every barrel of oil is tied to states budget.
Posted on 4/20/20 at 10:52 am to SulphursFinest
Good, frick dick Cheney
Posted on 4/20/20 at 10:55 am to TigerDog83
Yeah the Permian Basin has seen the majority of shutdowns
Posted on 4/20/20 at 10:57 am to GFunk
quote:
But make no mistake, even if we readjust it down to $10/barrell or less, that's going to be a massive hit to the State Budget. We're gonna be hurting. Bad.
Get ready for tax hikes, education and medical care cuts and threats to LSU football. This is going to make the budget issues of JBE's first two years look like a breeze.
Posted on 4/20/20 at 10:59 am to ClampClampington
quote:
Yeah the Permian Basin has seen the majority of shutdowns
Delaware is totally gone as most of the oil is 50 gravity plus and the light stuff has no home for a long time. Bakken probably in bad shape as a lot of travel for it to make it to gulf coast. Continental will be bankrupt soon as Hamm is unhedged. The only survivors will mainly be the majors and some very small independents who don't operate with any debt. The mid sized debt drillers are going out as this is an extinction event for them.
Posted on 4/20/20 at 11:02 am to iron banks
quote:
Of course JBE will get the blame when it is conservative legislators that set that up.
Jindal was blamed as well.
If the oil budgets were set lower, JBE would scream for more taxes from the population.
Our budget is waaay to fricking high for a state of this size. I believe we rival Pennsylvania and New Jersey as far as state budgets go.
This post was edited on 4/20/20 at 3:06 pm
Posted on 4/20/20 at 11:08 am to Bard
quote:
Get ready for tax hikes, education and medical care cuts
Tax hikes,yes.
Much more difficult for them to create cuts.
Further, every state is dependent on sales taxes, gasoline taxes, etc. and all are taking a huge hit to that.
Also, municipalities that are supported by tourism (college towns, beaches) are getting crushed.
Posted on 4/20/20 at 11:10 am to TigerDog83
quote:
The only survivors will mainly be the majors and some very small independents who don't operate with any debt.
From a stability standpoint, I don't think that is an entirely bad thing. It's been a while since I was dealing with crude every day, mostly ethanol now. But there got to be soo many independent and small players in the ethanol industry that there is no discipline within the industry to reign in production. shite hits the fan, everyone panics and doubles down production and hopes to bleed out the competition which just exacerbates the underlying issues.
This post was edited on 4/20/20 at 11:16 am
Posted on 4/20/20 at 11:10 am to East Coast Band
New Orleans is so fricked
Posted on 4/20/20 at 11:10 am to Powerman
quote: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.
He filled up at Kroger and used points he accumulated for shopping there. He paid the full price when you include the Kroger points he earned. Win Dixie does the same thing. You get like one point for every dollar you spend and one point is worth a penny.
Posted on 4/20/20 at 11:26 am to Oilfieldbiology
quote:
Because Louisiana republicans are nothing more than democrats that oppose abortion (sometimes) and support the second amendment. Fiscally, they are tax and spend progressives.
You nailed it.
Posted on 4/20/20 at 11:27 am to MrLSU
quote:
$12 million for every barrel of oil is tied to states budget.
Posted on 4/20/20 at 11:32 am to notiger1997
this started about 2 weeks ago
Posted on 4/20/20 at 11:34 am to Goldberg7
8.75 a barrel now.
Page 3 of 19
Popular
Back to top
Follow TigerDroppings for LSU Football News