Jimmy_Chitwood
Platinum Member
And there was no room for them at the inn, or oil tank.
I shorted USO when there was the OPEC+ / g20 head fake runup
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And there was no room for them at the inn, or oil tank.
$1.34 hereI just filled up at $1.60
Looooooove it!
It has not been $1.60 here in over a month!
I'm holding out until oil hits 50¢ a barrel.$1.04 actually.
It costs more to buy a gallon of gasoline than it does a barrel of oil.
That was even cheaper. LOL$1.34 hereI just filled up at $1.60
Looooooove it!
It has not been $1.60 here in over a month!
I have not bought gas in 3 weeks. It was $1.24 then, if I recall correctly.
Oil futures closed at -$37.00 today.I'm holding out until oil hits 50¢ a barrel.$1.04 actually.
It costs more to buy a gallon of gasoline than it does a barrel of oil.
Then I'm buying all I can.
Maybe try some honesty eh.....Impossible to do when the govt turns off the economyProblem you have is the cause isn't bad management...it's bad govt...... Yes you will be bailing them out. Let's all sit on our ass some more and pretend everything is fine.No much of a market for drilling, and not much of a market on alternative energy with prices this low.Nazi says she will stay on vacation until May 4, unless there is an emergency.
US oil prices turn negative as demand dries up
Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.finance.yahoo.com
So what's so bad about cheaper oil? It's not like the oil companies are going to go broke, is it?
Ripple effect
Major oil companies have been pushing for a cap on oil production in Texas for a while. Seems that the market for new wells was killed by all that fracking in the past few years. Not my fault if they already drilled more wells than they need. You want to bail them out for bad management on their part?
We already give oil companies billions in free money each year. Some of the giveaway programs were started just to help the country start using Henry Ford's invention, and continue to this day. It's about time the oil companies paid their own way.
Nobody turned the economy off. It's slow right now, but that will change. Oil companies have made and been given many fortunes already. They can face this with what they already have. Those with real need should be the priority for once.
The oversupply is real but if I understand the headline someone actually claimed that oil producers are paying investors to take their oilSince the start of the year, oil prices have plunged after the compounding effects of the coronavirus and a breakdown in an agreement among OPEC and allies. With no end in sight for the decreased demand, and producers around the world continuing to pump, that’s causing a fire sale among traders who don’t have access to storage.What do you mean by negative territory?
Monday’s extreme move showed just how oversupplied the U.S. oil market had become with industrial and economic activity grinding to a halt as governments around the globe extended shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied oil-producing nations a week ago to curb supply is proving too little, too late in the face a one-third collapse in global demand.
Do you even realize how utterly dependent the world and all of the civilizations are to energy? Without it, we'll likely starve before we freeze, but either way, the whole world will collapse without those companies.I have absolutely no sympathy for the oil companies and their investors.
They've been robbing us for decades. I hope they lose everything. They deserve it. They've been hurting people with their outrageous prices for way too long.
I just hope that my tax dollars don't end up bailing their miserable butts out.
I'm not saying people don't want, need or use energy.
I'm saying I'm glad to see these companies having to take a bath on their oil right now.
They have fleeced our world for way too long. I hope that the price of oil and gas stay low for a very long time.
The fact that there's a glut right now and the market on it right now has collapsed, shows that the world isn't as dependent on oil as you think.
Well..no they won't..but they will balance their books by throwing millions out of work, to maintain their shareholder profits. If it gets real bad..the shareholder profits will go also. But it is the workers in the industry that will get the axe..it's already happening as we speak..pink slips are being printed.Nazi says she will stay on vacation until May 4, unless there is an emergency.
US oil prices turn negative as demand dries up
Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.finance.yahoo.com
So what's so bad about cheaper oil? It's not like the oil companies are going to go broke, is it?
Sounds good....where you going to store it? AFAIK, there is no space...and unless you can take delivery...?I'm holding out until oil hits 50¢ a barrel.$1.04 actually.
It costs more to buy a gallon of gasoline than it does a barrel of oil.
Then I'm buying all I can.
I've got my abandoned storage tanks waiting!Sounds good....where you going to store it? AFAIK, there is no space...and unless you can take delivery...?I'm holding out until oil hits 50¢ a barrel.$1.04 actually.
It costs more to buy a gallon of gasoline than it does a barrel of oil.
Then I'm buying all I can.
OSHA will eat you alive with all those violations........LOLI've got my abandoned storage tanks waiting!Sounds good....where you going to store it? AFAIK, there is no space...and unless you can take delivery...?I'm holding out until oil hits 50¢ a barrel.$1.04 actually.
It costs more to buy a gallon of gasoline than it does a barrel of oil.
Then I'm buying all I can.
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In 30-40 years when all the cheap oil has been depleted, crude will be worth $450 a barrel!
It will come back. Donald did the prudent thingThe Dow is down another 628 points at 9:30 Am, AZ time. Watching a freefall is so mesmerizing..... BUT, Donald is going to fix everything by banning immigration!