Trumps Oil Industry....

[Dan Warnick + 6,100]

7 hours ago, Douglas Buckland said:

Can you see that video clip? Can’t tell on this handphone...

Nope.

[El Nikko + 2,145]

11 hours ago, Dan Clemmensen said:

Doug, supermarket jobs are really dangerous right now, and also pretty stressful due to stressed-out customers. Try for a work-from-home job, maybe as an industry expert for a television news show. 😉

 

Any work from home jobs for a geologist/engineer where I don't have to interact with other people?

Emails are ok I suppose 😂

[James Regan + 1,776]

3 hours ago, Dan Warnick said:

You and Chris could co-anchor reports about your stay at home experiences!  Like, DILLIGAS!

Dan that would be a great segment Chris Coumo, Don Lemon and Douglas Buckland what could go wrong, next town hall Doug should chair it.  Nightly show too - "The Buck Stops with Me"

[James Regan + 1,776]

3 hours ago, El Nikko said:

Any work from home jobs for a geologist/engineer where I don't have to interact with other people?

Emails are ok I suppose 😂

Do you sniff rocks Nikko, whats that all about the sniffing of rocks and Geologists?

[El Nikko + 2,145]

6 minutes ago, James Regan said:

Do you sniff rocks Nikko, whats that all about the sniffing of rocks and Geologists?

We might lick them and occasionally eat a little bit to help determine if the cutting is shale/clay/siltstone iirc

Not sniffed any recently though 😂

[nsdp + 449]

12 hours ago, Douglas Buckland said:

I can’t wait until ‘we’ bring out the dirt rigs again!!!!

Not necessarily ‘bail out’ the ones you are referring to.

Give me two more years on the dirt rigs in North Africa or Kurdistan and I’ll be a happy camper!

Doug you might as well come home and retire.  You'll go native out there waiting for this one to turn around.  1985 wasn't this bad.

Texas Oil at $2 a Barrel Raises Specter of Negative Prices

Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have to pay customers to take crude off their hands. https://finance.yahoo.com/news/texas-oil-2-barrel-raises-120000398.html

[James Regan + 1,776]

12 minutes ago, nsdp said:

Doug you might as well come home and retire.  You'll go native out there waiting for this one to turn around.  1985 wasn't this bad.

Texas Oil at $2 a Barrel Raises Specter of Negative Prices

Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have to pay customers to take crude off their hands. https://finance.yahoo.com/news/texas-oil-2-barrel-raises-120000398.html

I agree this is an unprecedented situation, rationality has to prevail before someone starts launching metal objects, we are one Fk up from the unthinkable. One rogue move from a proxy anywhere from any side will ignite this tinder box - This is where real leaders will be unveiled. We are passing through a epoch which will be discussed for centuries. The Wango Contango.

[Douglas Buckland + 6,308]

4 hours ago, nsdp said:

Doug you might as well come home and retire.  You'll go native out there waiting for this one to turn around.  1985 wasn't this bad.

Texas Oil at $2 a Barrel Raises Specter of Negative Prices

Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas producers may soon have to pay customers to take crude off their hands. https://finance.yahoo.com/news/texas-oil-2-barrel-raises-120000398.html

No sense in coming home, cheaper to live here!

[Phil Glabner + 1]

Trump surrounds himself with TV Personalities.  His chief economic advisor is 'air tight' Larry Kudlow, who is a moron.

[James Regan + 1,776]

2 hours ago, moroundiya said:

Nice write up though, but check this also

http://newsgist.com.ng/2020/04/18/serie-a-league-to-resume-in-late-may-italian-football-federation/

Just as long as the EPL don't go back, and write off this season, being a MAN UTD life long die hard we have nothing to gain, no champions league etc, I will be happy with Europa cup and the take away is that Liverpool don't win the championship. Must be hell being a Looserpool fan never being able to have posted a Premier League Championship win on social media such as F-Book, Instagram etc, yep its been that long since the second red team in England won the EPL, in fact they have never one the English Premier League. Love it - BRRUUUUNNNOOOOO

Edited April 19, 2020 by James Regan

[Afzal Qureshi 0]

😃

[RSD + 41]

8 hours ago, James Regan said:

Just as long as the EPL don't go back, and write off this season, being a MAN UTD life long die hard we have nothing to gain, no champions league etc, I will be happy with Europa cup and the take away is that Liverpool don't win the championship. Must be hell being a Looserpool fan never being able to have posted a Premier League Championship win on social media such as F-Book, Instagram etc, yep its been that long since the second red team in England won the EPL, in fact they have never one the English Premier League. Love it - BRRUUUUNNNOOOOO

Ah dear - the once might ManU have really fallen from grace haven't they - this year is Liverpool's year and not even a virus is going to stop us claiming the Premier League!

[James Regan + 1,776]

7 minutes ago, RSD said:

Ah dear - the once might ManU have really fallen from grace haven't they - this year is Liverpool's year and not even a virus is going to stop us claiming the Premier League!

Don't think it's possible, each day that passes its not good for Liverpool, as long as its mathematically possible which it is, this season will probably be voided.

[JohnvsTheGiant + 4]

Trump understands the necessity for Americans to buy domestic and not enrich/fund/empower Foreign anything.

Rick Perry continues to advise and has some skin in the game now that hes in the private sector.

Renewables are creating "some" downside pressure on fossil fuel.  7-10KW of panels can be bought for .20-.40 cents a watt down 70% from 10 years ago. https://energyacuity.com/project/ivory-solar-facility/

After things stabilize at Wal-Mart the Board of Directors will get Doug "puppet" McMillon to walk the walk since Wal-Mart buyers aren't as keen on Made in China and lead times and future supply side disruptions. Shipping lines are already making port changes.

Jobs and money have been lost overseas since Clinton was blackmailed into allowing China in WTO. China is red to the core and manipulated everything and anything to make it this far. 320M Americans + other countries supporting 3B+ Chinese and their government agenda. We fund it.

Other issue in the next 5 years are automation and robotics.

Yes, Trump gets it and so does the vast majority of Americans.

Edited April 19, 2020 by JohnvsTheGiant

[0R0 + 6,251]

10 hours ago, Phil Glabner said:

Trump surrounds himself with TV Personalities.  His chief economic advisor is 'air tight' Larry Kudlow, who is a moron.

Appreciate Kudlow. Never thought much of opposing analysis before he took his post. Now we need to filter the president out of his statements. 

Please don't come here for political trolling. 

 

[Tom Kirkman + 8,860]

2 minutes ago, 0R0 said:

Please don't come here for political trolling. 

Dang it, I need to modify my comments here then.

[0R0 + 6,251]

1 minute ago, Tom Kirkman said:

Dang it, I need to modify my comments here then.

Comment not related to anything. 

+

First post.

+

First thing is to criticize Trump without context, about a TV economist. 

=

Troll

[John Foote + 1,135]

19 hours ago, James Regan said:

Just as long as the EPL don't go back, and write off this season, being a MAN UTD life long die hard we have nothing to gain, no champions league etc, I will be happy with Europa cup and the take away is that Liverpool don't win the championship. Must be hell being a Looserpool fan never being able to have posted a Premier League Championship win on social media such as F-Book, Instagram etc, yep its been that long since the second red team in England won the EPL, in fact they have never one the English Premier League. Love it - BRRUUUUNNNOOOOO

I saw the real king (Dennis) live in his last match. Seen Best and Charlton and talked to half of the '73 squad. Back then most players would happily chat with whomever after match. Exceptions at United being Best, who has hounded by the press and I watched a fake Best in a mink coat duck in a Rolls, the press rushed the car, and real Best popped right in front of me, and hopped in a VW Beetle. To be honest, genius that he was, that day his move avoiding the press was his only moment of genius.

Edited April 20, 2020 by John Foote

[HermitMunster + 146]

WEST TEXAS INTUBATED

 

WTI'S NEW SLOGAN: "DON'T BE SO NEGATIVE EVERYONE!!!"

[notsonice + 1,067]

Looks like the Saudis are winning again. Trump must love watching the American Oil Industry being wiped out. Steel is right behind Oil with Tubular products going into a tailspin.

[Dan Clemmensen + 1,011]

1 hour ago, notsonice said:

Looks like the Saudis are winning again. Trump must love watching the American Oil Industry being wiped out. Steel is right behind Oil with Tubular products going into a tailspin.

Nobody is winning. the pandemic crashed consumption by >30%, so nobody is buying oil. This means that even OPEC managed to suspend the laws of economics and maintain the pre-pandemic, pre-"price war" price, their revenue would have gone down by >30%. Since OPEC cannot maintain the price even if they unilaterally ceased production altogether, their revenues will go down even more, I guesstimate by >60%, as will all other oil producers.

I think President Trump is doing a terrible job, but he is not responsible for the current consumption crash in oil, steel, tubular products, or any of a multitude of other goods and services. If his actions or lack of actions cause an eventual extension of the collapse or a lag in the recovery, you can go ahead and blame him then, but we won't really know until next year.

[Dan Warnick + 6,100]

3 minutes ago, Dan Clemmensen said:

Nobody is winning. the pandemic crashed consumption by >30%, so nobody is buying oil. This means that even OPEC managed to suspend the laws of economics and maintain the pre-pandemic, pre-"price war" price, their revenue would have gone down by >30%. Since OPEC cannot maintain the price even if they unilaterally ceased production altogether, their revenues will go down even more, I guesstimate by >60%, as will all other oil producers.

I think President Trump is doing a terrible job, but he is not responsible for the current consumption crash in oil, steel, tubular products, or any of a multitude of other goods and services. If his actions or lack of actions cause an eventual extension of the collapse or a lag in the recovery, you can go ahead and blame him then, but we won't really know until next year.

I fear this is just the tip of the iceberg.  Financial markets and probably all others will most likely follow, and then....

Nothing Trump or any other human could have done to stop this thing.  100 year event.  The world just changed today, folks.

[notsonice + 1,067]

4 minutes ago, Dan Clemmensen said:

Nobody is winning. the pandemic crashed consumption by >30%, so nobody is buying oil. This means that even OPEC managed to suspend the laws of economics and maintain the pre-pandemic, pre-"price war" price, their revenue would have gone down by >30%. Since OPEC cannot maintain the price even if they unilaterally ceased production altogether, their revenues will go down even more, I guesstimate by >60%, as will all other oil producers.

I think President Trump is doing a terrible job, but he is not responsible for the current consumption crash in oil, steel, tubular products, or any of a multitude of other goods and services. If his actions or lack of actions cause an eventual extension of the collapse or a lag in the recovery, you can go ahead and blame him then, but we won't really know until next year.

The Saudis have done exactly what they set out to do with flooding the world with oil. They are destroying the US shale industry along with the infrastructure that is needed to drill for oil and gas. You will not see a revival for at least 3 years and in the meantime 10,000's of oil/gas and related businesses will be wiped out with little hope that they will ever be able to reform as it will take them years to get past bankruptcy. Yes the Saudis have won in their game,  in several years they will reap the win with a market that is under supplied once again and they will run the show.

[Dan Clemmensen + 1,011]

15 minutes ago, notsonice said:

The Saudis have done exactly what they set out to do with flooding the world with oil. They are destroying the US shale industry along with the infrastructure that is needed to drill for oil and gas. You will not see a revival for at least 3 years and in the meantime 10,000's of oil/gas and related businesses will be wiped out with little hope that they will ever be able to reform as it will take them years to get past bankruptcy. Yes the Saudis have won in their game,  in several years they will reap the win with a market that is under supplied once again and they will run the show.

The Saudis did not "flood the world with oil". They threatened to increase their exports by up to 2 million bbl/day starting on 1 April, but by that time the pandemic had already crashed consumption by >20 million bbl/day, rendering the Saudi action completely irrelevant. If the Saudis had said nothing and done nothing, the result would have been exactly the same.  The Saudis are acting nasty and want you and everybody else to think they are major players, but as of right now they are getting hurt a lot worse than the US, because the (approximately) 60% revenue reduction represents most of their economy, but only a small part of our economy. If the US government intervenes to help support recovery in the oil industry as part of recovery of the entire economy, we will be in much better shape coming out of this than they will.

[Gerry Maddoux + 3,627]

15 minutes ago, notsonice said:

The Saudis have done exactly what they set out to do with flooding the world with oil. They are destroying the US shale industry along with the infrastructure that is needed to drill for oil and gas. You will not see a revival for at least 3 years and in the meantime 10,000's of oil/gas and related businesses will be wiped out with little hope that they will ever be able to reform as it will take them years to get past bankruptcy. Yes the Saudis have won in their game,  in several years they will reap the win with a market that is under supplied once again and they will run the show.

Keep in mind, folks, the overall picture on a global basis. The only person madder than I am today is a guy named Vladimir Putin, as Russia is making roughly fifty cents a barrel on their exported oil and that, along with gas (also in the shitter) are their only exports. Mr. Putin is not likely to sit in the Kremlin playing electronic chess as he watches Mother Russia lurch once again toward poverty and famine. So there is that.

And never underestimate the resilient spirt of the Texas oilman . . . as well as, by the way, the Alberta oilmen. Many of the latter fled to ND. Today is going to rate right up there with the Alamo with many Texans. And the Canadians, well, they're a resilient group too. 

Then there's the math study for the Saudis: the KSA sovereign wealth fund is going broke at about $500,000,000 per day, using the last week's average oil prices. In two years, they can kiss their traitorous asses goodbye. 

No matter how much the pain suffered by the Americans and Canadians in oil and gas today, I guarantee you it's going to be oh so much worse for the crazed prince. I don't know whether it's going to be Iran, aided by Russia, or someone within his own palace, but it's likely coming.