$7.00 Gas?

#51
#51
Christian Lowe said:
The military is already cutting gas powered … everything. We’ll be entirely electric operated by 2030 and net zero emissions by 2050.

It’s happening.
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I have no doubt that the idiots currently in charge have plans for this. What could possibly go wrong? We'll be at the complete mercy of anyone with an EMP device.
 
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#52
#52
BreatheUT said:
This is the sinister back handed way of doing it. This has been one of the possibilities that could be a strategy and more lying from them. "They are doing it for y'all good" because you know the rules are for thee.

Have you noticed how fraud Kerry and others like K'ma'la have disappeared from the public space like they want to hide them to repair their reputations. They never get fired. Just hide and repair.
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It's like they're formerly fired football coaches in Saban's rehab program.
 
#53
#53
Isn’t this the part where some apologists comes in and always makes a comparison to Europe, and how we should be so lucky?
 
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#54
#54
In April 2020 the bottom dropped out (broke really) and WTI was trading at -$30 per barrel.

You had to actually pay someone else to take it off your hands.

Been a steady climb back towards $100 since.
 
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#55
#55
85SugarVol said:
In April 2020 the bottom dropped out (broke really) and WTI was trading at -$30 per barrel.

You had to actually pay someone else to take it off your hands.

Been a steady climb back towards $100 since.
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Oil needs to be in the $60-70 per barrel range for a healthy economy, too low it hurts because there will always be an over correction.
 
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#57
#57
hog88 said:
Oil needs to be in the $60-70 per barrel range for a healthy economy, too low it hurts because there will always be an over correction.
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I’m sure the drillers, producers, and consumers would all appreciate a nice steady range around $65

Makes it so much easier to plan
 
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#58
#58
obviously no one read that letter I posted last night about Biden strong arming banks to prevent lending to oil companies.
 
#62
#62
85SugarVol said:
In April 2020 the bottom dropped out (broke really) and WTI was trading at -$30 per barrel.

You had to actually pay someone else to take it off your hands.

Been a steady climb back towards $100 since.
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At that time, President Trump pushed a plan to top off all our oil reserves while the price was so cheap. The Dems blocked the plan. How good would that investment be now?
 
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#64
#64
TheDirector said:
At that time, President Trump pushed a plan to top off all our oil reserves while the price was so cheap. The Dems blocked the plan. How good would that investment be now?
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They really wouldn't make much of a dent. Not like they're empty anyways
 
#65
#65
utvolpj said:
They really wouldn't make much of a dent. Not like they're empty anyways
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We shouldn't be tapping into reserves for everyday use anyway, but we should top off the reserves when given a chance. Releasing reserves does nothing to lower prices in the long term. It just put at risk a security asset.
 
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#66
#66
BreatheUT said:
We shouldn't be tapping into reserves for everyday use anyway, but we should top off the reserves when given a chance. Releasing reserves does nothing to lower prices in the long term. It just put as risk a security asset.
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A quick search showed they are pretty full and our current level would take 150 days to drain. The risk seems low
 
#67
#67
I recall either CNN or MSNBC - or both - reporting a few years ago accusing Trump of being responsible for the Hurricanes in the Gulf and the wild fires in California. And he had gas at $1.80 here.

And now Biden can't even control gas prices?????
 
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#68
#68
tim said:
The mere fact that he talks about policies to shut down drilling and mining slows the industry down. Words matter
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All we heard during the last administration is that actions matter and not the words.:oops: You are correct though, Oil investments go down when the president says it time for your job to go.
 
#69
#69
utvolpj said:
A quick search showed they are pretty full and our current level would take 150 days to drain. The risk seems low
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I thought this was discussion about releasing reserves but maybe I should've gone further back in the discussion.

We released 50MMbbl in November I believe. Down from the 634MMbbl at the end of 2019. A draw down takes 4.4MMbbl per day and at the current inventory level is roughly 132 days inventory.
 
#70
#70
BreatheUT said:
I thought this was discussion about releasing reserves but maybe I should've gone further back in the discussion.

We released 50MMbbl in November I believe. Down from the 634MMbbl at the end of 2019. A draw down takes 4.4MMbbl per day and at the current inventory level is roughly 132 days inventory.
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That is war footing strategic reserves. Would never get replenished at $100 barrel
 
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#75
#75
BreatheUT said:
I thought this was discussion about releasing reserves but maybe I should've gone further back in the discussion.

We released 50MMbbl in November I believe. Down from the 634MMbbl at the end of 2019. A draw down takes 4.4MMbbl per day and at the current inventory level is roughly 132 days inventory.
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That's kinda what I was saying. The need for it is really not there any longer. Not quite a security risk at all
 
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