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Started By
Message
re: Update, May crude oil futures now down to under $12
Posted on 4/20/20 at 9:41 am to upgrayedd
Posted on 4/20/20 at 9:41 am to upgrayedd
quote:
This has to do with demand, not SA
All I said was that they have a problem if this lasts. Of course, another destabilized group of turds over there will only be a pain in our arse in the long run
0
Posted on 4/20/20 at 9:42 am to TigerstuckinMS
and less crowded too
Posted on 4/20/20 at 9:46 am to TigerstuckinMS
quote:
I'm gonna see so many places cheap in the next year.
I was in this mindset a month ago and had started looking up possible destinations, etc.
Now not so much.
I work in upstream and I'm scared shitless right now.
This post was edited on 4/20/20 at 9:50 am
Posted on 4/20/20 at 9:48 am to TigerstuckinMS
If you aren’t stocking up on Mobile 1 now your an idiot. I got enough to last 5 years and thinking about going back for more."
Stocking up on Mobile One:The key to true wealth.Stocking up on Mobile One will change your(not you're) life.
Stocking up on Mobile One:The key to true wealth.Stocking up on Mobile One will change your(not you're) life.
Posted on 4/20/20 at 9:50 am to windmill
what if you didn't buy at rock bottom. in a week someoneone will have 6 years worth for the same price
Posted on 4/20/20 at 10:31 am to BeepNode
quote:
Let the Saudis sell oil for $17/barrel if that's what they want to do.
You think that’s what this is - the Saudis are content to let the price sit at $17/bbl forever?
Their goal is to regain market share then raise the price.
quote:
If having oil production is a national security issue then just pay oil companies a subsidy of $20 a barrel. It'll be cheaper to Americans overall and send less money overseas than the current price-rigging paradigm.
Now you’re talking out of both sides of your mouth. You just said you were fine with the “current price rigging paradigm” when you said you have no problem with the Saudis trying to bankrupt their competition. So which is is - is OPEC price fixing good or bad?
Posted on 4/20/20 at 1:05 pm to Klark Kent
Can't tell if serious? What do you think caused the shift in investors looking for free cash flow instead of constantly outspending? Fracking being unsustainable in low price environments. Do you know how many producers there are (public and private) not named CVX, XOM, OXY, Shell, BP, etc? They can't make it through this. There are tons of private equity firms that can't raise new energy funds. Premiums producers would have to pay in the bond market to refinance their debt are sky high. Private companies can't go public. Tell me when the last E&P went public.
You have zero grasp of the financial market side of E&Ps. All of the money that allows these companies to do what they do has dried up and has been dry for more than a year.
I believe o&g is incredibly important to the US and even more so local economies, but that doesn't change the fact that money was running away from energy long before this crash.
You have zero grasp of the financial market side of E&Ps. All of the money that allows these companies to do what they do has dried up and has been dry for more than a year.
I believe o&g is incredibly important to the US and even more so local economies, but that doesn't change the fact that money was running away from energy long before this crash.
Posted on 4/20/20 at 1:05 pm to windmill
quote:
If you aren’t stocking up on Mobile 1 now your an idiot
#NailedIt
Posted on 4/20/20 at 1:46 pm to Displaced
All jokes about truck nuts aside.
Is it really 15 CENTS a barrel? Sorry oil and gas guys. Hope you fellas are better with money than me and the wife. That’s just a statement. No jokes.
Is it really 15 CENTS a barrel? Sorry oil and gas guys. Hope you fellas are better with money than me and the wife. That’s just a statement. No jokes.
Posted on 4/20/20 at 1:48 pm to LSU alum wannabe
Where can I buy some barrels of oil?
Posted on 4/20/20 at 1:49 pm to LSU alum wannabe
Holy shite. Oil is at negative $24 right now.
Posted on 4/20/20 at 2:02 pm to fallguy_1978
I think it got to -35 or so but came back a little. This is stuff we will be telling kids and grandkids about for certain.
Posted on 4/20/20 at 2:02 pm to Tonio
I'm glad we spent trillions on those Middle East wars...
Posted on 4/20/20 at 2:05 pm to fallguy_1978
quote:
Holy shite. Oil is at negative $24 right now.
That's the rally price. It was at negative $35 at one point.
Anybody have a spare salt mine they aren't using?
This post was edited on 4/20/20 at 2:06 pm
Posted on 4/20/20 at 2:06 pm to Displaced
quote:
Mobile 1
Extreme audio to GO!
Posted on 4/20/20 at 2:08 pm to fallguy_1978
quote:
Holy shite. Oil is at negative $24 right now.
Nobody wants WTI right now, apparently. Brent, Dubai, Louisiana Light, and Natural Gas still hanging in there.
Posted on 4/20/20 at 2:09 pm to BeepNode
How is wcs not negative. That's kind of surprising
Posted on 4/20/20 at 2:12 pm to redstick13
quote:
Anybody have a spare salt mine they aren't using?
Posted on 4/20/20 at 2:12 pm to BeepNode
Why the big discrepancy in WTI and Bent?
Posted on 4/20/20 at 2:16 pm to LSUlefty
quote:
Why the big discrepancy in WTI and Bent?
Because the states has a ton of glut where as the European producers are leaner with their Brent crude.
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