Posted on 12/11/2014 1:00:04 PM PST by YankeeReb
If domestic production drops due to the price, these tanker cars would start to become idle. If they are idle they can be used for storage.
BFL
Liberals are grieving.
Masses of peons are out spewing evil carbon due to $2 gas.
SUVs and Pickups are selling like hotcakes.
I suppose that’s possible.
Maybe Thackney can comment on the feasibility.
If nothing else, reducing the tanker count could let us ship the (much delayed) grain harvest here in the midwest.
I've been thinking the same. Solid, larger companies, not to get too greedy betting on a little one making large gains, providing they survive the dip, depending how long it lasts.
And I tend to avoid investing in my own industry. My present income depends on them, don't want to loose my retirement along with my current job.
Then what are you putting in the tankers?
You are talking about one of the most expensive ways to store oil.
I think you would find cheaper storage on a tanker ship that is no longer importing oil to the US.
Makes you wonder if somebody is going to try to make some trouble to get oil prices back up?
My SIL is in ND now. I’ve been telling my daughter for a few months now that they should cut spending because oil is getting hammered. Nothing I told her registered until this week. She finally now understands what I was speaking about because for the 1st time my SIL just reports to the shop and sits for 12 hours. Hopefully now she’ll heed my warnings.
Good luck to her. Better than sitting at the house.
I generally agree with that position... too many eggs in one basket.
I also agree that if one did in vest to stick with large survivors... pigs get fat and hogs get slaughtered.
Depending on how long it lasts.
Look for discussion fodder.
Obama does not intend to take credit, he intends to nationalize the oil industry.
When US supplies, which he has tried to limit or reduce, caused the world market prices, by way of futures, to be stable in a downward trend, because of a seemingly stable source (US sources) not affected by mid east turmoil, he visited Saudi. The only way to destabilize the price of oil is to affect the supply. Saudi intends to maintain an over abundant world supply, depressing prices, in order to destroy the economic calculus that makes fracking profitable. Obama wants to drive these companies out of business. Then he will offer a bailout as long as they develop public land. He will then demand that the US will get a large percentage of everything produced. Between Saudi now again in the the price control business, US, Russia, Venezuela, and every other country that depends on nationalized oil revenue will rejoice.
Can you not see how Obama despises that he does not profit from oil production directly but Putin does?
Record oil tankers seen sailing to China amid stockpiling signs
http://fuelfix.com/blog/2014/12/12/record-oil-tankers-seen-sailing-to-china-amid-stockpiling-signs/
The number of supertankers sailing to China jumped to a record in ship-tracking data amid signs that the oil-price crash is spurring the Asian nation to stockpile.
There are 83 very large crude carriers bound for Chinese ports, according to shipping signals from IHS Maritime, compiled by Bloomberg at about 8:30 a.m. today in London. The ships would transport 166 million barrels, assuming standard cargoes, the largest number in data starting in October 2011. The cost of hiring the vessels surged to the highest in almost five years, according to Baltic Exchange data.
Gee, where are all those “speculators” who always “drive the price up”? Are they on vacation?
/sarcasm
They are busy taking advantage as the panic sellers drive the price down.
Tanker rates have been going up the past couple of weeks due to tankers being hired for storage.
Freeper’s are buying huge suv’s and pu trucks. The way of the world.
So how long till the community organizer in lieu of a President takes credit for this?
...
If this drop is due to bad economic policy I think he can take a lot of credit for it.
Gee, where are all those “speculators” who always “drive the price up”? Are they on vacation?
...
Money can be made on the short side, too.
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