National Average Price of Gasoline Hits an All-Time High

[NorthDallas40]

Ran across a surprising stat from the EIA this morning

Domestically, we're producing 2 mil more barrels of oil per day now than we were in 2017 & 2018 and we're not too far off 2019 levels.

No way. Big oil is going away the idiot in chief said so

 

[MurphyVol]

Respectively disagree. I think as a recession sets in you are going to see tons of people feel pressure to return to the office. They don't want to be the one who gets the ax. Also OPEC disagrees

OPEC Foresees Brighter Second Half for Oil Demand, Economy

Could just be a blip, but it's down 12% in 3 days. Traders citing demand
concerns.

What we're watching is the time we think home equity and credit card balances will be maxed out The thought is sometime between fall and first of 2023- however those projections we're done before the recent rate hikes. Credit card balances crossed $1 trillion in April.

 

[DC_Vol]

Could just be a blip, but it's down 12% in 3 days. Traders citing demand
concerns.

What we're watching is the time we think home equity and credit card balances will be maxed out The thought is sometime between fall and first of 2023- however those projections we're done before the recent rate hikes. Credit card balances crossed $1 trillion in April.

Industrial order books in H2 are dropping fast. A significant recession is just over the horizon. Traders are reading the tea leaves.

 

[DC_Vol]

Respectively disagree. I think as a recession sets in you are going to see tons of people feel pressure to return to the office. They don't want to be the one who gets the ax. Also OPEC disagrees

OPEC Foresees Brighter Second Half for Oil Demand, Economy

This is happening at my company. Now management wants everyone in an office despite most roles getting along just fine remote.

When the turndown comes, I feel confident the remote people will be the first to get the axe.

 

[Orangeburst]

Industrial order books in H2 are dropping fast. A significant recession is just over the horizon. Traders are reading the tea leaves.

What is H2? Q2?

 

[DC_Vol]

What is H2? Q2?

Second half: Q3 + Q4

 

[Orangeburst]

Second half: Q3 + Q4

I have luckily already had a terrific month by timing circumstances really. Puts me back over YTD plan, but new projects are non existent for last 2 months. My phone is not ringing at all. Going to be brutal so that plays into my plans to get out next April or if doesn’t crash too hard end of next year

 

[NorthDallas40]

I have luckily already had a terrific month by timing circumstances really. Puts me back over YTD plan, but new projects are non existent for last 2 months. My phone is not ringing at all. Going to be brutal so that plays into my plans to get out next April or if doesn’t crash too hard end of next year

See if they will pay you to go away and then take the money and go away.

Our idiot company just tried to bribe the senior people to stay. Best as I can tell nobody has altered any plans they had made.

 

[Orangeburst]

See if they will pay you to go away and then take the money and go away.

Our idiot company just tried to bribe the senior people to stay. Best as I can tell nobody has altered any plans they had made.

I have seen that at big corporations like IR but not way it works in small business
We are only like 25 employees

 

[NorthDallas40]

I have seen that at big corporations like IR but not way it works in small business
We are only like 25 employees

Ah yeah likely right.

 

[Orangeburst]

Ah yeah likely right.

I tell you what just knowing you are out door is rather liberating. 10-18 months still a little out there though. Beats the heck out of many years though

 

[NorthDallas40]

I tell you what just knowing you are out door is rather liberating. 10-18 months still a little out there though. Beats the heck out of many years though

I can assure you I find the notion VERY liberating. Nine more work days…

 

[Orangeburst]

I can assure you I find the notion VERY liberating. Nine more work days…

 

[TheDeeble]

This is happening at my company. Now management wants everyone in an office despite most roles getting along just fine remote.

When the turndown comes, I feel confident the remote people will be the first to get the axe.

Having to deal with other employees working from home is annoying. Maybe some people can get along fine, but I see several instances where there's failure. I don't know what they're doing but it involves a lot of slacking.

One of my co-workers called another department yesterday because there was an issue that popped up that required their support. My co-worker got griped at by the girl that answered her cell phone because "she was out on a walk" and didn't want to deal with it. It was a this needs to be fixed soon issue, not a when you get a chance issue.

Earlier today I sent an email for help for something I cannot fix, and the guy's reply is asking me to do his research for him. Then he says I just need to talk to his manager because he can't do anything. He can't do anything because he's working from home and all the documents he needs for research are at work.

 

[85SugarVol]

See if they will pay you to go away and then take the money and go away.

Our idiot company just tried to bribe the senior people to stay. Best as I can tell nobody has altered any plans they had made.

You see where the Navy is offering $100k retention bonuses for aviation commanders?

 

[NorthDallas40]

You see where the Navy is offering $100k retention bonuses for aviation commanders?

Did not but not shocked. Civilian pilot shortages are huge right now and I’d guess they are laying the bait out to the military as usual.

 

[allvol123]

Having to deal with other employees working from home is annoying. Maybe some people can get along fine, but I see several instances where there's failure. I don't know what they're doing but it involves a lot of slacking.

One of my co-workers called another department yesterday because there was an issue that popped up that required their support. My co-worker got griped at by the girl that answered her cell phone because "she was out on a walk" and didn't want to deal with it. It was a this needs to be fixed soon issue, not a when you get a chance issue.

Earlier today I sent an email for help for something I cannot fix, and the guy's reply is asking me to do his research for him. Then he says I just need to talk to his manager because he can't do anything. He can't do anything because he's working from home and all the documents he needs for research are at work.

What company is letting anyone work from home due to Covid, still?

Can’t stand these people.

 

[VolStrom]

I can assure you I find the notion VERY liberating. Nine more work days…

When I announced my pending retirement some 6 months before I actually retired, I wrote on my office calendar how many work days I had left and mentioned it every morning in our state of the dumpster fire morning meeting we had every day. I gave them plenty of notice, so they could hire a replacement and let me them train him/her, but they just assumed I would come back as a contractor and then train them. It's been over 4 years and I haven't had the urge to come back one single time.

 

[VolStrom]

What company is letting anyone work from home due to Covid, still?

Can’t stand these people.

I have a young neighbor, probably late 20s, that works from home every day but one. I see him spending time outside in his garage playing with his BMW and Jeep more often than not.

 

[AM64]

Biden to release approx 8% more of Strategic Reserves.. this is war reserves not some political ploy. bet it is empty before we are done and Mission Accomplished

Then there will be inflationary oil prices when they fill the reserve back up ... except corrupt dems will wait for a GOP administration so they can point the finger at someone else like they've always done with military spending after dems have raided the military and defense spending.

 

[VolStrom]

Then there will be inflationary oil prices when they fill the reserve back up ... except corrupt dems will wait for a GOP administration so they can point the finger at someone else like they've always done with military spending after dems have raided the military and defense spending.

Trump should have filled the reserves up to the brim when oil was trading at negative dollars a barrel during the first covid lockdown.

 

[hog88]

Trump should have filled the reserves up to the brim when oil was trading at negative dollars a barrel during the first covid lockdown.

I think they did.

 

[VolStrom]

I think they did.

Our government do something that made sense?
Edit:
I found this article from Forbes magazine where Trump directed the DOE to fill the reserve during that time, but apparently they didn't do it.

No, Former President Trump Did Not Fill The Strategic Petroleum Reserve

One thing President Trump did propose was to top off the SPR when the Covid-19 pandemic was crushing oil demand. In March 2020 President Trump directed the Department of Energy to “fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.”

 

[AM64]

Refineries are making a profit?!? How dare they! Unlike Wal-Mart, Coke, etc I thought refineries we're charitable organizations. Biden should get behind a microphone and say

#1 there's not a lot we can do right now. We have a labor shortage and we can't even get the wells we have turned back on

#2 I screwed up when I said we were ending fossil fuel. Yes, long term that is the goal to have a cleaner, heathier planet. In the interim, I'm going to work with oil companies to do whatever they need to increase capacity. But everyone needs to understand we can't build multimillion dollar refineries and rigs in days, months or even a couple years. Our short term focus will be working with the oil industry to find a way to turn back on the 40% of existing facilities that were functioning pre-covid.

But he won't because politicians are stupid.

Even if Biden did that, oil companies know what the green/democrat party line is. The next dem idiot (redundant I know) would just do what joe did, so why invest in a future that dems see as something to kill when you know the dems aren't going away? This is like Reagan's trust but verify and nobody can verify dem reasoning, integrity, or most of all that they will just die and leave the rest of us alone.

 

[AM64]

Our government do something that made sense?
Edit:
I found this article from Forbes magazine where Trump directed the DOE to fill the reserve during that time, but apparently they didn't do it.

No, Former President Trump Did Not Fill The Strategic Petroleum Reserve

One thing President Trump did propose was to top off the SPR when the Covid-19 pandemic was crushing oil demand. In March 2020 President Trump directed the Department of Energy to “fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.”

So Trump directed the DOE to do something, and they didn't do it, but there is no swamp in DC? DC bureaucracies do whatever the hell they want, and usually that aligns with what dems think should happen.