Trumps Oil Industry....

[Rob Plant + 2,756]

5 minutes ago, Shakil said:

Poor US shale is getting wrecked. I am about to make so much money shorting the shit out of WTI.

Oh well done you!!

Why don't you try to make something or employ people who have families that depend on this industry and the sub tier supply industries.

Your comment is frankly abhorrent!!

Go and crawl back under that rock you came out of!

Why are so many on this forum gleefully mocking those that will suffer hardship for years?? There seems to be many on here that are saying well at least we are better off than this country (our enemy). Dont you all get it the world economy needs to get back on its feet and having countries or huge industries in financial ruin isnt going to help that happen.

 

[Shakil + 1]

2 minutes ago, Rob Plant said:

Oh well done you!!

Why don't you try to make something or employ people who have families that depend on this industry and the sub tier supply industries.

Your comment is frankly abhorrent!!

Go and crawl back under that rock you came out of!

Why are so many on this forum gleefully mocking those that will suffer hardship for years?? There seems to be many on here that are saying well at least we are better off than this country (our enemy). Dont you all get it the world economy needs to get back on its feet and having countries or huge industries in financial ruin isnt going to help that happen.

 

You lose one job, you get another one. The American mindset, right? 

[Rob Plant + 2,756]

34 minutes ago, Shakil said:

You lose one job, you get another one. The American mindset, right? 

I'm not American!

When the industry is decimated where is that job? Supermarket stacking shelves?

You are on a web site where many work in the shale sector the very last thing they want to hear is how much money you will be making from their industry collapsing!

To gloat in this way I just find disgusting, don't you realise what this will mean to tens of thousands of families??

Or is it that you just don't care?

Edited April 21, 2020 by Rob Plant

[Shakil + 1]

16 minutes ago, Rob Plant said:

I'm not American!

When the industry is decimated where is that job? Supermarket stacking shelves?

You are on a web site where many work in the shale sector the very last thing they want to hear is how much money you will be making from their industry collapsing!

To gloat in this way I just find disgusting, don't you realise what this will mean to tens of thousands of families??

Or is it that you just don't care?

Yes. Super market stacking shelves. Whatever job you can take. That is the American way!

[Douglas Buckland + 6,308]

45 minutes ago, Shakil said:

You lose one job, you get another one. The American mindset, right? 

You can’t be that stupid....or maybe you can. 🤔

Most people this stupid forget to breath, then Darwin takes over.

There are 22 million jobless claims in the US alone at the moment, I have not seen a global unemployment figure....THERE ARE NO LONGER ANY JOBS TO GO TO!

Glorying in anybody losing their job and not being able to take care of their families, regardless of nationality, is despicable. 

What goes around, comes around.
 

 

[Douglas Buckland + 6,308]

1 minute ago, Shakil said:

Yes. Super market stacking shelves. Whatever job you can take. That is the American way!

What the f**k would you know about the ‘American way’?

[Rob Plant + 2,756]

23 minutes ago, Douglas Buckland said:

What the f**k would you know about the ‘American way’?

Clearly not a damn thing!

[Shakil + 1]

23 minutes ago, Douglas Buckland said:

What the f**k would you know about the ‘American way’?

The American way is that you get another job when you lose your current one. 

[Rob Plant + 2,756]

Just now, Shakil said:

The American way is that you get another job when you lose your current one. 

Are you 6 years old?

[Shakil + 1]

Just now, Rob Plant said:

Are you 6 years old?

No, I just love capitalism. It's making me so much money right now it's ridiculous.

[Rob Plant + 2,756]

2 minutes ago, Shakil said:

No, I just love capitalism. It's making me so much money right now it's ridiculous.

Then do something good with it like donating it to your local hospital to help in the fight against C-19 or buy loads of PPE with it and send it to care homes.

Nope I guess you'll just keep it all for yourself wont you

You can love capitalism, I do too, but any entrepreneur worth their salt should have a sense of  morality, empathy, philanthropy, kindness and justice to name a few.

If you just live for the $ then you will be a very selfish shallow person with no true friends.

[Douglas Buckland + 6,308]

9 minutes ago, Shakil said:

The American way is that you get another job when you lose your current one. 

There are not any jobs available now!!! Can’t you understand that!

What do your people do when they lose their job...seek asylum?

[Douglas Buckland + 6,308]

10 minutes ago, Shakil said:

No, I just love capitalism. It's making me so much money right now it's ridiculous.

‘It is easier for a camel to fit theough the eye of a needle, than for a rich man to enter heaven.’

[Shakil + 1]

42 minutes ago, Douglas Buckland said:

There are not any jobs available now!!! Can’t you understand that!

What do your people do when they lose their job...seek asylum?

Bullshit. Companies like amazon can't even keep up with demand because there is shortage of workers. Delivery companies are booming right now. I guess people don't want to move. Hey, you know what? That's their problem. 

 

41 minutes ago, Douglas Buckland said:

‘It is easier for a camel to fit theough the eye of a needle, than for a rich man to enter heaven.’

Hate to tell you but heaven does not exist.

[astros148 + 5]

You guys are responding to a troll.

[Rob Plant + 2,756]

7 minutes ago, astros148 said:

You guys are responding to a troll.

It appears so, and one with no moral compass

[Douglas Buckland + 6,308]

“I guess people don't want to move. Hey, you know what? That's their problem. “

Yeah, when you have a real job out in the world, as opposed to trading online in you mother’s basement, moving is a more traumatic, complex operation.

I hope you choke on your money you sorry excuse for a human being!

[Douglas Buckland + 6,308]

Just now, Rob Plant said:

It appears so, and one with no moral compass

Yeah, I’m done.

[Shakil + 1]

1 minute ago, Douglas Buckland said:

“I guess people don't want to move. Hey, you know what? That's their problem. “

Yeah, when you have a real job out in the world, as opposed to trading online in you mother’s basement, moving is a more traumatic, complex operation.

I hope you choke on your money you sorry excuse for a human being!

I am a software engineer. I work from the comfort of my home. It's pretty nice. Getting tired of quarantine though. Moving is traumatic? Buhu, American families do that all the time. Now that people you know are getting affected you care. Get off your high horse. You ain't better than me.

[Rob Plant + 2,756]

1 hour ago, Shakil said:

1 hour ago, Douglas Buckland said:

“I guess people don't want to move. Hey, you know what? That's their problem. “

Yeah, when you have a real job out in the world, as opposed to trading online in you mother’s basement, moving is a more traumatic, complex operation.

I hope you choke on your money you sorry excuse for a human being!

I am a software engineer. I work from the comfort of my home. It's pretty nice. Getting tired of quarantine though. Moving is traumatic? Buhu, American families do that all the time. Now that people you know are getting affected you care. Get off your high horse. You ain't better than me.

Unfortunately Shakil you are wrong again!

I know for a fact Douglas would never have thought let alone posted such reprehensible comments as you have done.

That in itself makes him better than you!

[Shakil + 1]

44 minutes ago, Rob Plant said:

Unfortunately Shakil you are wrong again!

I know for a fact Douglas would never have thought let alone posted such reprehensible comments as you have done.

That in itself makes him better than you!

Alright, Rob. I guess I'll have to take your word for it.

[Tom Kirkman + 8,860]

4 hours ago, astros148 said:

You guys are responding to a troll.

 

4 hours ago, Rob Plant said:

It appears so, and one with no moral compass

 

4 hours ago, Douglas Buckland said:

Yeah, I’m done.

 

Yesterday I quietly suspended for 3 days a new troll who was ecstatic that oil had crashed.  While I have no issue with people who hate oil, I find it mostly out of bounds for noobs to join this oil forum and post about how happy that oil had crashed and that oil workers are out of work.

I'm not a fan of censorship, but I view it in poor decorum to have newcomers come here and gloat that it is "great for the environment" that oil has crashed.

Any thoughts?  This is not "my" forum, this is a forum for everyone in the oil industry.

Not quite sure what to do here as a moderator, with people who come here to celebrate the great Covid Oil Crash of 2020.

[Rob Plant + 2,756]

9 minutes ago, Tom Kirkman said:

 

 

 

Yesterday I quietly suspended for 3 days a new troll who was ecstatic that oil had crashed.  While I have no issue with people who hate oil, I find it mostly out of bounds for noobs to join this oil forum and post about how happy that oil had crashed and that oil workers are out of work.

I'm not a fan of censorship, but I view it in poor decorum to have newcomers come here and gloat that it is "great for the environment" that oil has crashed.

Any thoughts?  This is not "my" forum, this is a forum for everyone in the oil industry.

Not quite sure what to do here as a moderator, with people who come here to celebrate the great Covid Oil Crash of 2020.

I think you know most of my thoughts as detailed in the previous posts above.

I also don't believe in censorship and I think those regular members of this forum will call out said trolls for what they are without the need to ban them or censor them.

I just fail to understand their motives for this apparent gloating 

Just my thoughts Tom

[Gerry Maddoux + 3,627]

14 hours ago, Dan Clemmensen said:

Gerry, the only way I know that crude can maintain its price during a 30% consumption crash is if there is a corresponding 30% reduction in production. How was that going to happen? Feel free to assume that President Trump had slapped a total embargo on imports that were not matched by exports.

Crude oil prices collapsed because traders, who are normally restrained at least partially by events they "see coming" down the calendar--more demand in economic expansion, less with economic contraction--had no restraint imposed upon them. With storage filling up, having undergone the Saudi pledge to pump maximally while also telling OPEC members to "feel free to produce as you choose," smirking at the token deal hammered out by the president, there was simply nothing to restrain traders from making this into a mockery. That's capitalism. 

Someone said that my response to your inquiry about price point if there had been action was "absurd." I don't mind that because on the face of it, a statement like that does seem absurd. However, back up the film of life and play it forward slowly, as it happened, and look at all the places where there could have been effective mitigation of a nightmare scenario that an awful lot of people saw coming.

When the Saudis announced their makeshift "trade war" with Russia, the coronavirus was upon us. At that point, a phone call from the WH might have stopped things but I doubt it; I think a 25% tariff on Saudi oil would have, and that's what Harold Hamm called for.  But that didn't occur so roll the tape. With the death-song of coronavirus by now in full throat, the Saudis double down, reiterating their declaration to flood the market. Again, Mr. Hamm, by now joined by others, advised a tariff. Some even urged a ban. Didn't happen. 

By now oil is piling up all over the place, but the Saudis continue. Drilling in the shale can't be stopped without massive economic upheaval but completion can, and it does. So, at that point there's a response from the "frackers" that there's going to be a massive decline in crude oil and its end products. A few oil-men and -women meet with the president. We know precisely what Harold Hamm and others wanted--a tariff or a ban--but we also know that the heads of CVX and XOM wanted nothing done. It should be pointed out here that XOM makes more than 60% of its money from joint ventures with the Saudis. Roll the film.

As the expiry date was approached, and as almost any mitigating activity by the president would still have muted the reaction, traders waited with baited breath, the excitement building. They were beside themselves: maybe the big train wreck was going to occur after all! And it did. The damage has now been done; it can't be undone; this is personal and physical and psychiatric, all in one. Depressing. 

Run the other film, the one left on the cutting room floor. A tariff was placed early to mitigate a Saudi prince gone wild with desire to wreck the markets and profit from his actions (through shorting futures, buying large share blocks in European oil companies). It didn't stop the carnage but put a floor under the market--enough that our people could slow down the process and hold job integrity. Alternatively, a ban was emplaced, with a floor much higher--probably about $40--because the traders are restrained by eventual work-through of the glut here at home. Oil is the canary in the coal mine; let oil go and it quickly becomes obvious that all the swimmers are naked. So hold the line. 

But now, to watch an ill-formed experiment play out, we are going to see not 25 million people out of work, but 27 million (Here's the Democratic campaign slogan, a flashback to 2016: "We'll make America great again, and one of the ways we'll do it is by ensuring energy-independence.") Here we are, scrambling to find jobs and provide a safety net for millions of workers in restaurants, airlines, bars and hedge funds but we just kissed our US oil industry goodbye. This lunacy that we're going through as a nation, even as a world, is establishing "norms" within our psyche: to not eat out, to not fly, to not drive (because where would you be going), to not . . . do anything. We'll all watch in gathering obesity as Netflix puts on its shabby show-list, Amazon gets fatter and fatter and fatter due to selling half the country groceries now, as well as their usual crap. WTF?--and no that's not WTI.

I really don't care who disagrees with my stand on this, or who calls it absurd, or laughs at me: this is, after all, an internet place, right? I am one of the few people here, I've noticed, that actually uses his real name, so there's that for honesty. I've written my story, truthfully, and hopefully without a lot of self-pity, which I don't have. I'm not saying that the nation should underwrite every business that seems on the verge of failing but to do nothing as more hard-working Americans lose their jobs, to flush an entire American oil industry while hedge funds are receiving funds from the CARES Act seems a bit feckless to me, that's all. in fact, it makes me angry beyond belief, because I know in my heart that fully half of this "relief" money will go to people who don't need it. So how do I voice my rage, I ask myself this fine morning. 

We have a man running on the Democratic ticket who seems, unfortunately, badly demented. The choices, to an angry guy like me, are now cancer and polio. To be frank with you--and I can say this as a doctor with about 40 years in the world of medical emergencies--this whole thing with how the virus was handled was and is just . . . . tragic. We have a "person in charge" of what's coming down the line that could kill us, and we're making a modern hero of him because he is able to reassure us that we're not all going to die, but just a second, what about the masks, face shields, gloves, gowns, shoe covers, testing kits and reagents, you might ask. We've done a very good job, we're reassured by an administration that is losing face by the day. Holy mother, is this the best we can do? 

So what do you do if you're the last angry man, not very pleased about any of this? Vote for Joe Biden? Even though someone forgot to test him for cognitive dysfunction? Let's see, where is that damn testing kit? 

[Tom Kirkman + 8,860]

28 minutes ago, Rob Plant said:

I also don't believe in censorship and I think those regular members of this forum will call out said trolls for what they are without the need to ban them or censor them.

I just fail to understand their motives for this apparent gloating 

Just my thoughts Tom

Thanks Rob