Originally posted by Atticus
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Originally posted by lonewolf View PostSalvation price varies with the company. Some are already throwing in the towel.. I don't have a crystal ball but I don't expect much new drilling (not that we need it near term) at prices south of $60, which approximates $2.00/gallon gasoline in Oklahoma.. I realized pump price is higher in most of rest of the nation. Also, most secondary recovery projects, cumulatively totaling millions of barrels, and the core of many companies assets, require about $50 oil to be profitable. The ultimate solution is balancing production with consumption so everyone survives. Corona virus will screw things up for a while.
I am surprised that with it being after Memorial Day and with increased driving and with oil prices edging up to $33 again that we have not seen some modest price increases at the pump.
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Some signs of sanity, I walk into the Cumberland farms as is my daily custom and,.. per the Governor Dumb regulations .. I greet the clerk and through my face mask, I request a plastic cup: "good day darling, may I please have a plastic soda cup to add to my collection of 50 perfectly clean plastic soda cups" ?
She laughs and says , " I know, the insanity of this is getting to all of us" ... Signs of intelligence are starting to reappear on the little blue planet.Last edited by user4; 06-02-2020, 04:48 PM.
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Originally posted by Halfmiler2 View Post
Gasoline was 1.67.9 at Costco in Bergen County, NJ today which is rock bottom in Northern NJ for 2020.
I am surprised that with it being after Memorial Day and with increased driving and with oil prices edging up to $33 again that we have not seen some modest price increases at the pump.
This is where Lonewolf provides actual insight as opposed to my speculation.
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Dave is right. Demand is picking up but massive inventory of crude in storage and tankers will have to be worked off. Two dozen mega tankers queued up at China's east coast refineries for two months are starting to unload as China reopens. OPEC has been generally compliant/cooperative in limiting production, with exception of Iraq and Nigeria.
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Per my lament two weeks ago, my daughter's high school graduation took place on the football field two weeks ago tomorrow, social distancing and all. They streamed it on the Internet so family and friends could watch. They had really nice weather, a nice ceremony, they got to march up and get their diplomas on the stage, then a car parade up the street outside the high school with a moderate bit of the community turning out. Afterward, 30 or 40 of the seniors went up to a dirt road in the hills right above Woodland Park and watched the sunset. On the morning of the first day of school last August, they went up there and watched the sunrise before the school day began so nice, symbolic bookends of the of the school year. Given the circumstances, my daughter and the other seniors seem to enjoy the event. She acknowledged, with a few tears, that it would have been nice to have the kind of graduation week her brother had two years ago, and that seniors usually get, but she and her friends were accepting of how things are. Now, in two weeks, I can turn my attention to being sad, and a bit angry, that we, meaning my family and friends and many of you on the message board, won't be spending a totally wonderful 10 days in Eugene. Maybe on one of those evenings we can all share a virtual beer online and pretend we are at the Wild Duck. Or not, as that might just add an exclamation point to the entire situation.
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Originally posted by DrJay View PostThe hardest thing about wearing a mask? In the produce aisle, it's almost impossible to open the business end of the plastic bags without wetting your fingertips on your tongue.Last edited by user4; 06-04-2020, 03:04 PM.
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