Posted on 04/01/2020 11:38:35 AM PDT by C19fan
Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the worlds most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effectively had to shut down, with many governments imposing draconian measures on the daily lives of billions of people. It has created an unprecedented demand shock in energy markets, with storage space both onshore and offshore quickly running out.
(Excerpt) Read more at cnbc.com ...
I just love saying 22 cents per gallon.
I filled up yesterday with regular gas in North Charleston, SC at 1.45 a gallon.
Less taxes
$1.39 per gallon at the Raceway on Stateline Rd. in Southaven, Mississippi this morning!!
Former TX governor and Energy Secretary Rick Perry had it right in an interview I saw yesterday. Prohibit imports of foreign oil and use our refinery capacity to refine US produced oil only. This will take care of the surplus and give the producers some relief from the cellar oil prices.
$1.75 and no place to go
Yes, some oil wells do have to keep flowing, or risk plugging, gelling or otherwise quit flowing.
Same with the pipelines. They really need to be kept moving, and they will not work anything less than completely full.
Time to get back to work!
You cant stop. Has to keep flowing.
We need a tariff on imported crude oil. Badly.
No not really. $2.99 for Regular if you pay cash, which no one does. Premium still $3.27 if you pay cash, which no one does. SCAM.
Its also an issue with West Coast refining capacity, or lack thereof. CA requires all sorts of special formulations, of course.
The SPICE must Flow !!!!!
The SPICE must Flow !!!!!
No oil for bad Orangeman!
oil barrel down 75% from $80 something, gasoline down 20% from $2.40 or so here in the oil patch of NM.
yuck- that’s high- We’re .80 cents less- but we’re still $1.00 more than the lowest states- so for every 100 gallons we buy- we’re paying $100 more than other states for same amount- you will pay $180 more- again- yuck- that’s %180 thrown out the window really- $180 your state steals in taxes from you per 100 gallons
$ 1.80 South Louisiana.
that’s a pretty good price- just looked at gas buddy site- some states are as low as $1.19- We’re $1.00 more per gallon- I doubt we’ll go under $2.00
That’s terrible. I’ve seen $1.75 in Bethlehem, PA.
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