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Started By
Message
Oil down to 17 dollars bbl
Posted on 4/17/20 at 9:49 am
Posted on 4/17/20 at 9:49 am
Yikes. This is going to murder the O&G industry
ETA ticked up to 18 now but was 17 earlier
ETA ticked up to 18 now but was 17 earlier
This post was edited on 4/17/20 at 9:50 am
27
Posted on 4/17/20 at 9:50 am to deltaland
I'm predicting it hits 5 a bbl
And will still be 3 dollars a gallon here in Cali
And will still be 3 dollars a gallon here in Cali
This post was edited on 4/17/20 at 9:51 am
Posted on 4/17/20 at 9:50 am to deltaland
Dark days ahead for sure.
Posted on 4/17/20 at 9:52 am to SDVTiger
quote:
And will still be 3 dollars a gallon here in Cali
When you put three dollars of taxes on a gallon of gas its impossible for a gallon of gas to be less than three dollars
Posted on 4/17/20 at 9:53 am to deltaland
Posted on 4/17/20 at 9:53 am to deltaland
Mass layoffs, looting and rioting coming to a place near you!
Posted on 4/17/20 at 9:54 am to deltaland
There are a lot of oil workers closing valves as the last thing they do before getting laid off.
Posted on 4/17/20 at 9:54 am to deltaland
frick my life.
Posted on 4/17/20 at 10:05 am to Big_Slim
Bout to find out how true that saying "Closer to the wellhead you are, the safer you are" is.
Im sittin on top that sum bitch
Im sittin on top that sum bitch
Posted on 4/17/20 at 10:06 am to im4LSU
$1.19 for a gallon of gas here in rural WI.
And 52 cents of that is tax.
And 52 cents of that is tax.
Posted on 4/17/20 at 10:07 am to deltaland
This is NOT good.
Posted on 4/17/20 at 10:09 am to deltaland
Production hasn’t fallen as it needs to. Got to cut at least 40% to reduce inventory. Certain areas are probably already negative like parts of Canada and west where pipelines can’t carry the supply.
Posted on 4/17/20 at 10:11 am to ljhog
quote:
This is NOT good.
The truck nuts jokers will be along here shortly to cheer on thousands of their fellow Americans being unemployed.
And fwiw that's the price of the May contract. June is trading at ~$25, July and forward contracts are all around or above $30 and are actually slightly green.
Posted on 4/17/20 at 10:12 am to deltaland
Expect states nationwide to pass increases on their fuel taxes.
It's what they do...
It's what they do...
Posted on 4/17/20 at 10:14 am to im4LSU
Lucky man. I’m trying to move to midstream for that reason in part. Was actually being considered for my first kind of supervisory role until this god damn shelter in place took effect, so I’ll say again, frick my life.
Posted on 4/17/20 at 10:17 am to YF12
quote:
When you put three dollars of taxes on a gallon of gas its impossible for a gallon of gas to be less than three dollars
Posted on 4/17/20 at 10:17 am to Boring
quote:
The truck nuts jokers will be along here shortly to cheer on thousands of their fellow Americans being unemployed.
I love cheap gas but I don’t want to see it this low. It will eventually lead to shortages and 100 dollar oil.
Best to maintain a 40-70 dollar bbl spread where everyone wins and you have steady investment into drilling and exploration
Posted on 4/17/20 at 10:18 am to deltaland
A lot of this is also demand driven. People can't get out and play with their toys to buy more gas to lower stockpiles.
Posted on 4/17/20 at 10:20 am to Codythetiger
You can’t see me! Because the state won’t let me out of the goddamn house.
Posted on 4/17/20 at 10:26 am to teke184
thanks guys. i was avoiding looking at it today as i go on call monday. probably won't get laid off when on call because nobody likes being on call. may be safe until the week after. but our 10% paycut starts on the 1st. 
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