This is good news. They are trying to scare people into selling, guess why.
This will make St. Greta’s head explode
If we ever needed a reminder, this whole mess just reinforced the fact that China, Russia, and even the Saudis are our enemies.
If true, then the entire financial system is going down.
That is when we will be taken to war.
This is because when everything fails, people lose everything and that is when people lose it.
Quite possibly the dumbest thing I have ever heard. The operators would just shut the wells in and wait for better days. Now, gas production through the Waha Hub occasionally drops below zero but they are just giving the natural gas away to make the oil as they can’t just vent it. They are building more take-away capacity to remedy this but it is a few years away.
Join us as we return to the days when gas was .32 cents a gallon and you could fill up your 57 Chevy Impala for under $5.00. Yes, we will go back to yesteryear.
I guess I need to get a few of those giant storage tanks. Not only will I get the oil for free, but the producers of said oil will apparently PAY ME to take it off their hands! It makes perfect sense! I’m glad I had this “analyst” to explain it to me.
Actually, gas could be free. But I think tax on a gallon is still something like $2.50 if not more.
I read awhile back that Trump intends to have the govt buy as much of our oil production as he can at these low prices—to keep our oil industry from collapsing—and to replenish our federal reserves. I assume this means storing it underground.
Yes, they will pay me to take gas?
Yeah that might happen right before it shoots up to $500 because it is almost impossible to find.
Come on people- Use your heads. No company is going to produce oil at a loss. If they start losing money then they will just shut down operations even if they don’t go bankrupt.
In a few weeks people are going to realize that the corona virus, while serious, is not the monster its being made out to be and its not going to be the new Black Death.
Reasonably confident it is not going to hit the US nearly as hard as the alarmists are trying to make out
I wonder if my city will allow me to put in an underground storage tank? Hmmmmmmmmmmm...
Naw. The companies have their break even point, and will curtail production.
gunna have a lotta oil tankers sitting in the water doin nuttin...
Freepers do know various crude prices differ markedly
Like over 5-600 percent ...spread
Saudi Basket
Urals
WTI
Brent
Mars US
Cheapest is Wyoming General Sour at 10.00 bucks a barrel
Most Expensive is Girassol in the Atlantic off the coast of Angola ...65.40
Girassol has best octane results mid range fuels of any crude in the cracking tower
When they pay me to buy it, I might get some. Let’s see...where did I leave my bicycle tire pump. I’m getting closer to my home...
https://www.youtube.com/watch?v=bv7XR_cJU9Y
Funky
Those wells have valves on them. Turn it one way its open. Turn it the other way it is closed
Who is going to keep pumping it?
I think I’ll cancel my order on that brand spanking new Tesla then.