Posted on 04/20/2020 6:43:17 AM PDT by hapnHal
“Clearly we have the ability to ramp up oil production quickly and effectively”
LOL.
It takes years to build. A decade, even.
Six months to destroy.
I know experts say “the market is always right” but I think this at this point is over kill. The market wasn’t right when oil was over $100 and is not right now. I know the demand and supply fundamentals are really bad, but I think $25 to $35 is the right range for oil once the economy starts to re-open. Funny thing is oil stocks themselves are not trading badly considering how low oil is.
The instability in oil and natural gas as you say is NOT a good thing. Impossible to make business decisions with this much volatility in the industry. Seriously should oil shale just shut down permanently?
You will be a rich man. The government will be counting on a contribution, comrade.
It is the ominous sign of a coming depression.
put a tariff on it- they are purposely trying to kill USA oil production
Or have a useless bunch of paper.
You don’t think oil will ever come back to its previous levels? The only thing that would slow that is a worldwide depression which is not out of the question.
Nothing that an Iranian missile fired at Saudi Arabia can't fix.
$1.19 in Trafalgar, Indiana.
Correct. This is just a short-term futures contract expiration. The NYMX strip out 12-48 months is between $30 and $40 per barrel.
Folks,
That is not the Real Price of oil. It is the speculation price.
Still $2.40 in WA. Unbelieveable. You know its got to be all tax.
Howdy, howdy! d:^)
First of all, I want to thank all those who posted. Want to share a story. I was traveling today from the California’s central coast to Fresno. About midway there is a small town off Interstate 5 and Hwy 41 called Kettleman City. Gas prices at five stations ranged from $3.74 to $3.87 per gal for regular gas. Now the shocker. I traveled another 40 miles on Highway 41 to a small community called Lemoore, Ca. I purchased gas at a Casino gas station for a whopping $1.95 per gal... a savings of $1.79/gal. Yes, I filled my truck up. When I got to Fresno I noticed something really strange. People were still working on a billion dollar fiasco, the bullet train. Something we really (don’t) need.
Governor Nuisance needs to go.
Really? All the equipment is just gone. The people who know how to do the work and the knowledge required is just vapor now. Terrible shame.
Yes that’s pretty much what happens.
People leave and do other things. Equipment that is laid down just rusts — or, more likely, is fire sold by banks for use in another country.
I recall a poster my older sister had on her bedroom wall. Written in hippie fonts: “Life is a gas. .33 cents a gallon.”
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