Trumps Oil Industry....

[Douglas Buckland + 6,308]

3 minutes ago, James Regan said:

So many Red Arrows of DOOOOOOM on this thread, do you know this can affect your parents credit rating.

Also your sperm count....

[Marcin2 + 725]

2 hours ago, Douglas Buckland said:

Also your sperm count....

So again you keep deviating off topic like when I used ONE inappriopriate word („bang”) in 100 words On topic comment and somehow this was a start of a nonsensical off topic Ping-pong with 20 derogatory comments about women.

You are partly justified by the lockdown, it drives all people crazy.

Edited April 15, 2020 by Marcin2
Typo

[Dwight Schneider + 11]

16 hours ago, jason dinges said:

What is sad for us in the business, is the lack of knowledge of the price itself. We produce oil in Kansas. Common Kansas oil is priced at 10 dollars under WTI price  So, like today West Texas Crude closed right at 20 dollars meaning our good quality crude is priced at 10 dollars. We do produce enough, that we get a 3 dollar bonus, so our company will be getting 13 dollars. Wyoming sweet crude is posted under 5 dollars today. 

Yes way too many people don't understand this disadvantage in pricings of crude, natural gas, gas liquids and propane.  I will say one thing that caught my attention in one of Trump's discussions he noted WY sour crude was only a couple of dollars a barrel!  Kind of surprised me he had someone telling him how bad it was for some producers.  As you well know even when times are good when you are working in locations with transport issues you may still struggle to keep things profitable.  I spent 30 years in WY and it was quite an education in how brutal it can be to market products. 

[Dwayne Taylor + 1]

James 

he does have an oil minister, he is called the secretary of energy you dink  

[Dg56 + 16]

Ahahahah!!!... thanks for the pics (in some other forum, someone was complaining that hotrod calendas had disappeared). 

Well well well... These pictures don't prove anything, right?

I will keep my opinion for myself, like everyone does back sat home.  

[Chance Neel + 1]

Trump isn't an oilman but he isn't having meetings with the top execs from the industry so in a sense he's getting all the best advise he can get. The who point of capitalism is we have people that are exceptionally good at covering their butts.

[Dg56 + 16]

The thing is... The US O&G is in real big trouble. And the president is like impotent, just tweet tweet tweet... 

Too many adversaries, China, Russia, KSA, not to mention PRNK...

Too many tweets, not enough traction. USA is looking like a joker, right now. 

[Kenneth Rexrode + 2]

So I would like your opinion on what I think could help solve our oil problem. Please note, I do not have a background in oil but follow the oil market closely. So here's what I think can work. First off, it seems like we need larger storage capacity in the world. This would be relatively inexpensive for the federal government. Once we build up our federal reserve capability the feds could buy all the cheap oil from outside countries. Additionally, we would guarantee our domestic oil producers roughly $40 for WTI oil. That said, if the price of oil was $25 we would expect the repayment of the extra $15 on future purchases when oil prices exceed $40. Hence, we could provide a stable price for our domestic oil companies. Also, the idea of the extra federal reserves would be to resell this oil in the future for a profit for the tax payers. It seems like this scenario would help everyone out and discourage outside forces in trying to damage our domestic producers. I would like to hear what people think of this idea.

[Douglas Buckland + 6,308]

10 hours ago, Dwayne Taylor said:

James 

he does have an oil minister, he is called the secretary of energy you dink  

Dwayne, James in NOT a ‘dink’. He is a Scot, not to be confused with the dink tribe.

If you really get him really annoyed, he’ll rip off all his clothes, paint himself blue, rub mud in his hair and then hunt you down and wallop your backside with a great big two handed sword that he can barely lift.

It is a sight to behold!😂

[Douglas Buckland + 6,308]

13 minutes ago, Kenneth Rexrode said:

So I would like your opinion on what I think could help solve our oil problem. Please note, I do not have a background in oil but follow the oil market closely. So here's what I think can work. First off, it seems like we need larger storage capacity in the world. This would be relatively inexpensive for the federal government. Once we build up our federal reserve capability the feds could buy all the cheap oil from outside countries. Additionally, we would guarantee our domestic oil producers roughly $40 for WTI oil. That said, if the price of oil was $25 we would expect the repayment of the extra $15 on future purchases when oil prices exceed $40. Hence, we could provide a stable price for our domestic oil companies. Also, the idea of the extra federal reserves would be to resell this oil in the future for a profit for the tax payers. It seems like this scenario would help everyone out and discourage outside forces in trying to damage our domestic producers. I would like to hear what people think of this idea.

How the hell is MORE storage going to mitigate the fact that there is simply too much of the stuff available!!!

Storage/surplus/glut is what got us into this mess in the first place!

The way forward is to dry up the glut. This will be painful, but ignoring it is simply kicking the can down the road, causing more pain later.

Somebody, or a group of somebodies, will have to ‘feel some pain’ if we are ever going to get back on solid ground.

[Kenneth Rexrode + 2]

So you're not a big fan of the latest idea of the feds buying up oil in the group from domestic producers to shore up the industry?

[James Regan + 1,776]

12 hours ago, Dwayne Taylor said:

James 

he does have an oil minister, he is called the secretary of energy you dink  

Dwayne, nice to meet you too.

Dink? Please elaborate as I am not from "Busted Shovel" Wyoming (tumble weeds rolling by). Show a little respect a Howdy or fit like ma loon, would have done.

[James Regan + 1,776]

1 hour ago, Douglas Buckland said:

How the hell is MORE storage going to mitigate the fact that there is simply too much of the stuff available!!!

Storage/surplus/glut is what got us into this mess in the first place!

The way forward is to dry up the glut. This will be painful, but ignoring it is simply kicking the can down the road, causing more pain later.

Somebody, or a group of somebodies, will have to ‘feel some pain’ if we are ever going to get back on solid ground.

Keep on pumping, heading for $16Bbl shortly, filling up pipelines, WTF. The spread from Brent to WTI tells us the everything  @Kenneth Rexrode its obvious you dont have a background in oil so WTF are you doing here, not just yourself but a few more. Go and run the bath upstairs and go have a beer downstairs when you see the the water coming through the kitchen roof, hey presto your an oilman,

Edited April 16, 2020 by James Regan

[Douglas Buckland + 6,308]

10 minutes ago, Kenneth Rexrode said:

So you're not a big fan of the latest idea of the feds buying up oil in the group from domestic producers to shore up the industry?

I am a big fan of realizing what the actual problem is, then fixing it!

If you build more storage, you simply make the problem worse, then leave it for somebody else to sort out at a later date.

Tariff provide relief in the short term, but what is the knock-on effect AND can we survive and prosper on US oil alone?

 

[James Regan + 1,776]

Ring Ring - Helooo Pump Room - Cant hear a damn thing these pumps are too noisy.

Puts down phone.............................

We have just filled the active system and still gaining, pit room now filling up, shaker house is now filling up, mud now running down into pump room, let it flow fk it................

Volumetric's is not a science it's common sense. Shut er in........

USA you are taking a kick, SOP stop pumping, pick up off bottom and observe  the well is communicating with you, then take appropriate action.

Kick?- Undesired influx from reservoir while drilling, increase in flow due to the well giving you pressurised oil/gas, causes you to lose Hydrostatic head (primary well control barrier), the more influx you allow in the more you lose control of the well (maintain bottom hole pressure normal scenario). KPI mud flowing at surface while not pumping, if not mitigated end result blowout, rig catches fire. OP Version for non oilfield personnel, its a little more complicated than this but you get my drift....

Edited April 16, 2020 by James Regan

[Douglas Buckland + 6,308]

4 minutes ago, James Regan said:

Ring Ring - Helooo Pump Room - Cant hear a damn thing these pumps are too noisy.

Puts down phone.............................

We have just filled the active system and still gaining, pit room now filling up, shaker house is now filling up, mud now running down into pump room, let it flow fk it................

Volumetric's is not a science it's common sense. Shut er in........

Great analogy! Most folks here will have any idea what you are talking about...😂

[James Regan + 1,776]

Just now, Douglas Buckland said:

Great analogy! Most folks here will have any idea what you are talking about...😂

Good, Eejits.....

 

[Gerry Maddoux + 3,627]

30 minutes ago, Douglas Buckland said:

I am a big fan of realizing what the actual problem is, then fixing it!

If you build more storage, you simply make the problem worse, then leave it for somebody else to sort out at a later date.

Tariff provide relief in the short term, but what is the knock-on effect AND can we survive and prosper on US oil alone?

 

Thought I had something to say, but I don't. I've already said it. Tariffs is the only thing that will save the American oil industry. Otherwise, we kiss it goodbye. If that's the decision I can live with it. Seems silly though.

Edited April 16, 2020 by Gerry Maddoux

[James Regan + 1,776]

11 minutes ago, Gerry Maddoux said:

Maybe I'm too wrapped up in this. I seem to be the only person on this forum who feels this way. I don't even know why I personally feel so passionate about it.

Gerry buddy - You're in good company. I felt the same way, nothing we can do about it, it becomes all consuming, fk it let the dice roll and see what come out of it, we should use our time looking for morons and beating them with a shovel, its more gratifying, honestly. Go into Sniper mode.

Respectfully as believe it or not I have grown to enjoy your posts.

[Gerry Maddoux + 3,627]

Just now, James Regan said:

Respectfully as believe it or not I have grown to enjoy your posts.

Likewise, my friend. 

Thanks for the leeway. 

[James Regan + 1,776]

Looking through this thread is a perfect visual reference of the current state of affairs in the USA, we now have a Posse, "Y'all aint from round these parts ar yah"  

"Blondie - whats the hell was that? one bastard goes in another comes out"

"get two coffins ready"

"i dont need your stinking Badjes"

Three films there can you name them???????????

 

Edited April 16, 2020 by James Regan

[James Regan + 1,776]

Listening to this, makes me understand your Pride, I tip my hat to you fellas, making a country out of the dirt, took some doing, and you have my respect and I get it, relax and listen to this amazing composition, you will return, like Tuco, he never got hung......

 

[Douglas Buckland + 6,308]

57 minutes ago, Gerry Maddoux said:

Thought I had something to say, but I don't. I've already said it. Tariffs is the only thing that will save the American oil industry. Otherwise, we kiss it goodbye. If that's the decision I can live with it. Seems silly though.

I’m not saying that tariffs are not the answer...in the short term, but not in perpetuity if we ever want to be involved internationally in the future.

[Douglas Buckland + 6,308]

36 minutes ago, James Regan said:

Looking through this thread is a perfect visual reference of the current state of affairs in the USA, we now have a Posse, "Y'all aint from round these parts ar yah"  

"Blondie - whats the hell was that? one bastard goes in another comes out"

"get two coffins ready"

"i dont need your stinking Badjes"

Three films there can you name them???????????

 

36 minutes ago, James Regan said:

Looking through this thread is a perfect visual reference of the current state of affairs in the USA, we now have a Posse, "Y'all aint from round these parts ar yah"  

"Blondie - whats the hell was that? one bastard goes in another comes out"

"get two coffins ready"

"i dont need your stinking Badjes"

Three films there can you name them???????????

 

The Good, the Bad and the Ugly

A Fistful of Dollars

A Few Dollars More

Had all on my Mac, whose power pack exploded and caught fire this morning!!!😖

[James Regan + 1,776]

16 minutes ago, Douglas Buckland said:

I’m not saying that tariffs are not the answer...in the short term, but not in perpetuity if we ever want to be involved internationally in the future.

Short term is to regulate production, this is quickly becoming a US problem, tariffs won't work if you keep pumping. This has nothing to do with fundamentals any more, recent keyboard warrior "weekend" oil traders have stopped trying to fix the problem, theres too much oil and no-one wants it. (unless you have a big pit you can pump the shit into and forget about it for a while) Thats the fundamental issue here.

https://oilprice.com/Energy/Crude-Oil/Oil-Prices-Sink-On-Record-Breaking-192-Million-Barrel-Crude-Build.html

Im no Rocket Scientist even I can do the math, I think an official announcement from the USA agreeing to cut production would lift WTI - Is this so hard to do?

Edited April 16, 2020 by James Regan