Its going to be an oil bloodbath

[Tom Kirkman + 8,860]

Due to global oil demand collapse, too many oil producing countries are still overproducing, and are rapidly running out of storage for oil.  Overproduction is still being done by most oil producing countries, including Saudi Arabia, Russia, U.S. and most OPEC countries.

Saudi Arabia is the one going the most bonkers, deliberately ramping up their oil production to try to kill off competitors and regain market share.

Hey MbS, what's that definition of insanity again?  Something about doing the same thing over and over and expecting different results.

How's that Aramco IPO going?     Told. You. So.

A couple of my many old threads on this, predicting crash and burn of the Aramco IPO:

Saudi Aramco IPO Will Not Save Kingdom

Saudi Shakedown 2.0: Kingdom "Asks" Country's Billionaires To Be Anchor Investors In Aramco IPO

 

[Hiten Shah + 22]

World is getting rid of crude oil addiction

Pollution free world. in India we call Karma. We pay for your deeds. Those who earned money from pollution will lose their money.

[Tom Kirkman + 8,860]

4 minutes ago, Hiten Shah said:

World is getting rid of crude oil addiction

Pollution free world. in India we call Karma. We pay for your deeds. Those who earned money from pollution will lose their money.

You might feel more at home on a Greenpeace forum rather than this Oil Price forum.  You will likely have an uphill battle here. 

But please feel free to tilt at windmills all you want on this forum.  I can use the comic relief.

[James Regan + 1,776]

29 minutes ago, Hiten Shah said:

World is getting rid of crude oil addiction

Pollution free world. in India we call Karma. We pay for your deeds. Those who earned money from pollution will lose their money.

Same will be said for the chicken Kurmas and Nan bread sellers in the UK who are making a massive carbon footprint selling your delicious food. The country is full of Indians making a fortune off of the same Kurma I meant Karma really.

Do you know how many Peshwari Nans and a good Ruby Murry an Aberdonian drill crew can go through, its making indians rich. Dot's not Feathers.....

Edited April 1, 2020 by James Regan

[James Regan + 1,776]

1 hour ago, Tom Kirkman said:

Due to global oil demand collapse, too many oil producing countries are still overproducing, and are rapidly running out of storage for oil.  Overproduction is still being done by most oil producing countries, including Saudi Arabia, Russia, U.S. and most OPEC countries.

Saudi Arabia is the one going the most bonkers, deliberately ramping up their oil production to try to kill off competitors and regain market share.

Hey MbS, what's that definition of insanity again?  Something about doing the same thing over and over and expecting different results.

How's that Aramco IPO going?     Told. You. So.

A couple of my many old threads on this, predicting crash and burn of the Aramco IPO:

Saudi Aramco IPO Will Not Save Kingdom

Saudi Shakedown 2.0: Kingdom "Asks" Country's Billionaires To Be Anchor Investors In Aramco IPO

 

Its started already Valaris Chapter 11, many more preparing to stack units, IOCs CAPEX has been sliced open. 

I shudder to see what will be done in the Shale play, it was already on its last written warning, P45 heading that way.

Petrobras to cut production by 200K Bbls as of today, start to take out older less efficient production units, its expected a 20% cut across the conventional and pre-salt. Land will be shut down.

These next two weeks will be crucial we will know our long term fate. big companies with big overheads will suffer, smaller companies with healthy P&L (solvent even) will come out of this the best.

Did we expect any less, we have been discussing this for a long time, shale dragged down a lot of companies and should be made to take up the slack, you can't run insolvent businesses on the wishes of a profit after 13 years, it's ridiculous. 

As we have seen this before and managed our costs and kept our P&Ls in check we will survive, who won't?

Edited April 1, 2020 by James Regan

[Hiten Shah + 22]

37 minutes ago, Tom Kirkman said:

You might feel more at home on a Greenpeace forum rather than this Oil Price forum.  You will likely have an uphill battle here. 

But please feel free to tilt at windmills all you want on this forum.  I can use the comic relief.

I am pro Tesla and Renewables. Simple Reason Sun is functioning irrespective of Coronavirus. wind Hydropower also. And no cornavirus can bring down generation of Renewable power and virtually no much manpower and transport is required from generation. Now Tesla Home with Panels , Battery and Electric car is the world in post corona world. Also Worl from Home will be a Norm. Not only that Tourista and commercial movements of people in both intra and inter country will be reduced drastically due to risk of coronavirus. All those things which can replaced by online like Banking, Shopping, etc wil be more or less Online in post coronavirus world!

[ronwagn + 6,290]

34 minutes ago, James Regan said:

Same will be said for the chicken Kurmas and Nan bread sellers in the UK who are making a massive carbon footprint selling your delicious food. The country is full of Indians making a fortune off of the same Kurma I meant Karma really.

Do you know how many Peshwari Nans and a good Ruby Murry an Aberdonian drill crew can go through, its making indians rich. Dot's not Feathers.....

I love Indian food but the buffets here keep going out of business. We need an Indian fast food but not enough East Indians here. About the only East Indians we have are Doctors and their families. 

[Tom Kirkman + 8,860]

4 minutes ago, El Nikko said:

Damn

 

33 minutes ago, Hiten Shah said:

I am pro Tesla and Renewables. Simple Reason Sun is functioning irrespective of Coronavirus. wind Hydropower also. And no cornavirus can bring down generation of Renewable power and virtually no much manpower and transport is required from generation. Now Tesla Home with Panels , Battery and Electric car is the world in post corona world. 

 

Hmmmmmm....

[ronwagn + 6,290]

1 hour ago, Tom Kirkman said:

Due to global oil demand collapse, too many oil producing countries are still overproducing, and are rapidly running out of storage for oil.  Overproduction is still being done by most oil producing countries, including Saudi Arabia, Russia, U.S. and most OPEC countries.

Saudi Arabia is the one going the most bonkers, deliberately ramping up their oil production to try to kill off competitors and regain market share.

Hey MbS, what's that definition of insanity again?  Something about doing the same thing over and over and expecting different results.

How's that Aramco IPO going?     Told. You. So.

A couple of my many old threads on this, predicting crash and burn of the Aramco IPO:

Saudi Aramco IPO Will Not Save Kingdom

Saudi Shakedown 2.0: Kingdom "Asks" Country's Billionaires To Be Anchor Investors In Aramco IPO

 

https://finance.yahoo.com/news/saudi-arabia-resists-trump-attempt-094943623.html

Saudis Boost Oil Output, Defying Trump’s Plea To End Price War

Javier Blas and Evgenia Pismennaya

BloombergApril 1, 2020

 

 

 

[Eyes Wide Open + 3,539]

1 hour ago, Hiten Shah said:

I am pro Tesla and Renewables. Simple Reason Sun is functioning irrespective of Coronavirus. wind Hydropower also. And no cornavirus can bring down generation of Renewable power and virtually no much manpower and transport is required from generation. Now Tesla Home with Panels , Battery and Electric car is the world in post corona world. Also Worl from Home will be a Norm. Not only that Tourista and commercial movements of people in both intra and inter country will be reduced drastically due to risk of coronavirus. All those things which can replaced by online like Banking, Shopping, etc wil be more or less Online in post coronavirus world!

Im not sure how to respond to this type of thinking, i believe a frank conversation followed by reality. Your father has lost his job there will be no more cookies, now should i bake or boil you potatoes. And yes i still love but maybe you could mow a lawn and we could afford some butter. We all have to do our part.

[dukeNukem + 80]

4 hours ago, ronwagn said:

https://finance.yahoo.com/news/saudi-arabia-resists-trump-attempt-094943623.html

Saudis Boost Oil Output, Defying Trump’s Plea To End Price War

Javier Blas and Evgenia Pismennaya

BloombergApril 1, 2020

 

 

 

https://www.bloomberg.com/news/articles/2020-04-01/russia-won-t-boost-oil-output-amid-oversupply-official-says 

[Jan van Eck + 7,558]

6 hours ago, Hiten Shah said:

World is getting rid of crude oil addiction

It suggest it is inacurate to refer to an "oil addiction."   Let's remember that oil is an inconvenient mineral slime.  We use it because it is so useful - as a lubricant, as a building block for chemicals, and for its great energy density, for heating in Winter and for refining into liquid fuels for transport.  And the residue is valuable as a roofing sealint material, for shingles and tarpaper, and for road surfacing as asphalt. 

Predictably, the collapse in the price of oil will result in market capture for plastics, as cheaper plastics displace metals.  Oil as plastics can be molded into complex shapes not possible in metals, including by injection molding, thermoset casting, thermoforming, extrusion, and roto-molding.  

Other extracts of oil will be made into chemicals including lubes, penetrants, anti-friction materials such as Teflon, and pharmaceuticals. 

In short, oil is used because it is cheap, it has energy density, it can be formed into other compounds, and those are quite useful.  Oil is going to be around for a very, very long time - thousands of years.   

[Hiten Shah + 22]

There was a world before Oil. I belong to that. There were more ethical jobs before. Nowadays its Greed. All oil products can be substituted. Even there is research that coronavirus stays longest on plastic and steel products. Even before Coronavirus 5G and online services were disruptive. Internet of things is a Reality!

Edited April 2, 2020 by Hiten Shah

[Dan Warnick + 6,100]

8 hours ago, James Regan said:

Dot's not Feathers

3 words that replace sentences of explanation.  Excellent!

[Douglas Buckland + 6,308]

40 minutes ago, Hiten Shah said:

There was a world before Oil. I belong to that. There were more ethical jobs before. Nowadays its Greed. All oil products can be substituted. Even there is research that coronavirus stays longest on plastic and steel products. Even before Coronavirus 5G and online services were disruptive. Internet of things is a Reality!

You are kinda weird....you realize that, don’t you?

[Rob Kramer + 696]

32 minutes ago, Hiten Shah said:

There was a world before Oil. I belong to that. There were more ethical jobs before. Nowadays its Greed. All oil products can be substituted. Even there is research that coronavirus stays longest on plastic and steel products. Even before Coronavirus 5G and online services were disruptive. Internet of things is a Reality!

Yes greed in mankind came when oil sprang forth and poisoned mankind. Before oil in the world you lived in it was sunshine and lollipops. In reality there were literally the exact same jobs but without other energy doing the work for you making it more toil some. Yes IOT is super disruptive soon everyone will sit in a room and never move. Sounds great lol. Think a thought into your headset and a solar robot will plop a drink in your hand the tv will come on your friends holograms will light up and you'll have produced more online culture for others to look at since there at home doing nothing and wanting to see life though your eyes . .... count me out. Get out the petroleum and the loudest exhaust you can fit on anything that moves fast and set me free. Haha. 

[Dan Warnick + 6,100]

44 minutes ago, Hiten Shah said:

There was a world before Oil. I belong to that. There were more ethical jobs before. Nowadays its Greed. All oil products can be substituted. Even there is research that coronavirus stays longest on plastic and steel products. Even before Coronavirus 5G and online services were disruptive. Internet of things is a Reality!

If I'm in the area, I'll visit you in your cave/hovel/whatever.  I'll bet you'll have a good stew on the solar stove.  Mmmm, I can almost smell the almost simmering goodies!

[Douglas Buckland + 6,308]

2 minutes ago, Dan Warnick said:

3 words that replace sentences of explanation.  Excellent!

Jimmy is a transplanted Scot. Furthermore, he is a Subsea Engineer. Both work against him being able to construct coherent sentences. Adverbs, adjectives, nouns, verbs, subject, predicate, etc... confound the poor lad. He is forced to economize his prose...

[0R0 + 6,251]

8 hours ago, Hiten Shah said:

I am pro Tesla and Renewables. Simple Reason Sun is functioning irrespective of Coronavirus. wind Hydropower also. And no cornavirus can bring down generation of Renewable power and virtually no much manpower and transport is required from generation. Now Tesla Home with Panels , Battery and Electric car is the world in post corona world. Also Worl from Home will be a Norm. Not only that Tourista and commercial movements of people in both intra and inter country will be reduced drastically due to risk of coronavirus. All those things which can replaced by online like Banking, Shopping, etc wil be more or less Online in post coronavirus world!

Volcanoes are really bad for solar. Better have a backup.  The big victim of coronavirus is the big tall city. NYC is no. 1 in the US. Where possible these cities will disperse offices and residences to the interior of the US. Where Millennials with families will be driving trucks and SUVs for the next 30 years. Goodbye public transportation. We oh so loved your energy efficiency. 

[ronwagn + 6,290]

8 hours ago, Hiten Shah said:

I am pro Tesla and Renewables. Simple Reason Sun is functioning irrespective of Coronavirus. wind Hydropower also. And no cornavirus can bring down generation of Renewable power and virtually no much manpower and transport is required from generation. Now Tesla Home with Panels , Battery and Electric car is the world in post corona world. Also Worl from Home will be a Norm. Not only that Tourista and commercial movements of people in both intra and inter country will be reduced drastically due to risk of coronavirus. All those things which can replaced by online like Banking, Shopping, etc wil be more or less Online in post coronavirus world!

Young people will soon be back at work. Retired people and the oldest will be the ones staying home for the coronavirus. As soon as a covid 19 inoculation comes out all will begin to return to normalcy for the rest of us. Young people need to get to work no matter what. Mothers with young children could hopefully stay home. 

[ronwagn + 6,290]

51 minutes ago, Hiten Shah said:

There was a world before Oil. I belong to that. There were more ethical jobs before. Nowadays its Greed. All oil products can be substituted. Even there is research that coronavirus stays longest on plastic and steel products. Even before Coronavirus 5G and online services were disruptive. Internet of things is a Reality!

Plastics are far superior to wood for many things. I just ordered a wooden chicken coop, but wanted a plastic one that was over twice the price for long term durability and ease of putting together. I see no real reason for the price difference. Plastic shelving is a far better buy than wooden. I have had two plastic sheds for twelve years. They are still as good as new. Plastic siding has replaced wooden and aluminum siding. The best decks now have a lot of plastic, much of it recycled. 

[0R0 + 6,251]

3 minutes ago, ronwagn said:

Young people will soon be back at work. Retired people and the oldest will be the ones staying home for the coronavirus. As soon as a covid 19 inoculation comes out all will begin to return to normalcy for the rest of us. Young people need to get to work no matter what. Mothers with young children could hopefully stay home. 

Mothers will have former waiters and event caterers as babysitters so as to avoid killing grandma. All of them will be at work but for high risk folks (55% of Americans as it turns out are at the >1% mortality risk - due to prevalence of diabetes etc. most will take the risk).

We need a workable treatment to apply earlier in the course of the disease before serious lung damage is caused. HCQ/z and antivirals should do it. We will learn soon enough.  

[ronwagn + 6,290]

16 minutes ago, Rob Kramer said:

Yes greed in mankind came when oil sprang forth and poisoned mankind. Before oil in the world you lived in it was sunshine and lollipops. In reality there were literally the exact same jobs but without other energy doing the work for you making it more toil some. Yes IOT is super disruptive soon everyone will sit in a room and never move. Sounds great lol. Think a thought into your headset and a solar robot will plop a drink in your hand the tv will come on your friends holograms will light up and you'll have produced more online culture for others to look at since there at home doing nothing and wanting to see life though your eyes . .... count me out. Get out the petroleum and the loudest exhaust you can fit on anything that moves fast and set me free. Haha. 

I can do with minimal noise though. 

[ronwagn + 6,290]

3 minutes ago, 0R0 said:

Mothers will have former waiters and event caterers as babysitters so as to avoid killing grandma. All of them will be at work but for high risk folks (55% of Americans as it turns out are at the >1% mortality risk - due to prevalence of diabetes etc. most will take the risk).

We need a workable treatment to apply earlier in the course of the disease before serious lung damage is caused. HCQ/z and antivirals should do it. We will learn soon enough.  

I have been pushing that treatment since it was first recommended. 

[Rob Kramer + 696]

9 hours ago, ronwagn said:

I can do with minimal noise though. 

If I'm on the highway traveling to family then ya - I want to hear conversation and or the music. If I'm having fun loud is what gets the heart pumping. Imagine a 2 stroke ripping through the dirt or a nascar or a cigarette boat ... sound is one of the major senses. It's like that "hot for teacher" song where the guy drumbs to the beat of a Porsche with oversized cam shaft lobes.  

Edited April 2, 2020 by Rob Kramer
Typo