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Started By
Message
re: Oil Prices drop to 17 year low as Saudis and Russia continue price war
Posted on 3/30/20 at 5:40 pm to BamaScoop
Posted on 3/30/20 at 5:40 pm to BamaScoop
quote:
Strat refinery back at full operation
Many refineries (Exxon has, others to follow) are cutting production now due to a lack of consumption of Jet fuel, gasoline, and diesel.
0
Posted on 3/30/20 at 5:43 pm to Powerman
1- It would be nice if Russia lost money, and Putin couldn’t afford to be a bad actor.
2- Wish we would do this to China.
3- U. S. Government vehicles must burn U. S. Sourced petroleum products by EO for “National Security”. This keeps oil companies producing American oil, albeit less.
4- Americans get to enjoy cheap fuel until the Saudis break Putin’s will.
2- Wish we would do this to China.
3- U. S. Government vehicles must burn U. S. Sourced petroleum products by EO for “National Security”. This keeps oil companies producing American oil, albeit less.
4- Americans get to enjoy cheap fuel until the Saudis break Putin’s will.
Posted on 3/30/20 at 5:52 pm to Gaspergou202
quote:
1- It would be nice if Russia lost money, and Putin couldn’t afford to be a bad actor.
That's definitely a benefit to be considered
quote:
4- Americans get to enjoy cheap fuel until the Saudis break Putin’s will.
Posted on 3/30/20 at 6:00 pm to Powerman
The solution is to slap a processing tax on every barrel of foreign crude oil that is refined in America.
Louisiana continues to rely on the severance tax enacted in 1921, meaning we tax only the oil and gas produced in our state and within 3 miles of our coast.
A modest 4% Louisiana state processing tax would yield approximately $6 billion/year.
But the Louisiana state legislature is beholden to the oil and gas lobby, and won't pass it.
Louisiana continues to rely on the severance tax enacted in 1921, meaning we tax only the oil and gas produced in our state and within 3 miles of our coast.
A modest 4% Louisiana state processing tax would yield approximately $6 billion/year.
But the Louisiana state legislature is beholden to the oil and gas lobby, and won't pass it.
Posted on 3/30/20 at 6:01 pm to Smittywerbenjagerman
quote:
Wonder how low gas will go
Station out front of our neighborhood:
8:20 am $1.89
5:35 pm $1.87
Lowest I have seen
Posted on 3/30/20 at 6:01 pm to gthog61
quote:
I saw $1.29 one place.
Holy crap. The cheapest we found it out here was $2.79. It was still almost $3.50 most places. Stupid California.
Posted on 3/30/20 at 6:02 pm to Powerman
quote:
Oil Prices drop to 17 year low
quote:Low oil prices benefit over 85% of Americans. Those Americans think the Saudis are helping them...
At what point do we acknowledge that the Saudis aren't our allies?
Posted on 3/30/20 at 6:04 pm to Indefatigable
quote:
Unconstitutional
Is it though? The Jones Act requires, among many other things, that all maritime shipments between two US ports must be handled on US flagged vessels with primarily US crews.
If we can control that, why would it be unconstitutional to only allow US oil products? That doesn't make any sense.
Posted on 3/30/20 at 6:04 pm to Powerman
Q led us to believe that Trump fixed the Saudis right after he was sworn in.
I expect Trump to fix this very soon
I expect Trump to fix this very soon
Posted on 3/30/20 at 6:16 pm to Powerman
quote:
It might make up a decent portion of LA's economy but LA's contribution to oil and gas is pretty much minimal other than supporting GOM operations.
I wouldn’t go that far. LA has a pretty high refining capacity, chemical production, and is building several large LNG plants.
This post was edited on 3/30/20 at 6:18 pm
Posted on 3/30/20 at 6:21 pm to Powerman
Too low, bro? Or did we get what he asked for?
Posted on 3/30/20 at 6:22 pm to BamaScoop
quote:
There is a simple solution to this. Uncap our oil wells, Strat refinery back at full operation and only allow the sell of oil based products in the US that came from Oil in the US. Stabilize our gas prices and then tell them to frick off and let them fight it out.
Say hello to $200/bbl domestic oil and $10/gal gas! I'll take it!
Posted on 3/30/20 at 6:22 pm to Smittywerbenjagerman
quote:
Wonder how low gas will go
Eventually the excises taxes might make up 50% of the price depending on where you live
Posted on 3/30/20 at 6:24 pm to Smittywerbenjagerman
quote:
Wonder how low gas will go
Negative pricing - you get $0.50/gal!
Posted on 3/30/20 at 6:25 pm to MaxDraft
quote:
US oil products
Define US oil product
Entirely made/extracted in the US?
Was every single piece of equipment and machinery made in the US?
This post was edited on 3/30/20 at 6:30 pm
Posted on 3/30/20 at 6:26 pm to TRex
quote:
Wrong dum arse
Ok. Name one product made entirely in the United States in the energy sector that receives zero material goods from abroad in the production chain. Just one.
The end result of what you apparently support results in arbitrary distinctions made on products sold domestically between states. Ergo, unconstitutional. “You cannot buy that Texas company’s product because the component metals are Chinese, and have to buy that Mississippi product instead” is not legal without a significant showing by the government that foreign materials are dangerous, and not just economically
This post was edited on 3/30/20 at 6:31 pm
Posted on 3/30/20 at 6:29 pm to JasonL79
(no message)
This post was edited on 2/2/21 at 4:48 am
Posted on 3/30/20 at 6:35 pm to Lakeboy7
quote:
Shell pulled out of the LC project today.
Word on the street before things went south was this was going to happen anyway. I work in the industry so I heard it at least. Energy Transfer still may go through with it on their own.
We still have several being built and more planned. A few of them may delay FID but will still likely go ahead in next 12-18 months.
This post was edited on 3/30/20 at 6:36 pm
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