Economy WTI at $0!!! WTF is Trump going to do

[Voodoo_Child906]

Yeah, it'll be fine (relatively speaking). Shale producers are extremely reluctant to shut down production because it's more costly to do that than operate wells at a loss over a period of weeks or months. Trump already got OPEC+ to cut over 10 million bpd but that doesn't kick in until May and given the extreme global demand destruction, it may need to be closer to 15-20.

What happens when Cushing fills up?

 

[Chesten_Hesten]

Or a bitter old man. He is like 74 years old, you think he would try and be presidential when people are dying, but no, when you are a trust fund baby whose Daddy was worth 900 million, Donny was probably always craving for attention. He was the kid from Brooklyn whose Dad was a slum lord. Kids of old money in the private schools Donny went to, must have looked down on him. It has made him the thin skinned dude he is today. It did not help that his Dad made him a glorified rent collector when he was in his 30's. Could you imagine having an MBA from the Wharton School of business in your 30's and your job was collecting rent checks, a job anyone with a pulse could do. Then Donny tried to be a casino mogul and his dad had to come in an lose millions on purpose to keep him afloat. Eventually Fred was like fuck that I aint wasting anymore money on my son's disaster casino's. He is just a trust fund kid whose dad either bailed out his fuck ups or made sure his first couple projects were no brainer winners that Daddy got the loans and the permits so even Donny could not fuck it up. So the fact Donny cant handle criticism is understandable. He never got any respect all his life.

So does this mean you're not voting for him?

 

[Lead]

Yeah, it'll be fine (relatively speaking). Shale producers are extremely reluctant to shut down production because it's more costly to do that than operate wells at a loss over a period of weeks or months. Trump already got OPEC+ to cut over 10 million bpd but that doesn't kick in until May and given the extreme global demand destruction, it may need to be closer to 15-20.

Was the 10 mil cut surprising that they listened? Could you see getting it bumped to 15-20 as possible?

 

[MicroBrew]

Hey guys, any tips for hoarding gasoline ?

 

[HockeyBjj]

Where was this? Sounds like it is worth driving to

Southern Wisconsin. $1.20 all around it then suddenly this random ass Kwik trip is always at least a dime cheaper

 

[HockeyBjj]

Hey guys, any tips for hoarding gasoline ?

Just fill a kiddie pool. Anything about fumes being dangerous is fake news from the green energy illuminate

 

[TardStrong]

Southern Wisconsin. $1.20 all around it then suddenly this random ass Kwik trip is always at least a dime cheaper

 

[HockeyBjj]

How much capacity do we have for the federal emergency reserve? Now sounds like a great time to actually 100% fill it (would also help drive the price up for the industry without actually being a direct bail out with taxpayer money). State’s national guards I imagine have some big ass tanks available at the armories as well.

 

[Lead]

How much capacity do we have for the federal emergency reserve? Now sounds like a great time to actually 100% fill it (would also help drive the price up for the industry without actually being a direct bail out with taxpayer money). State’s national guards I imagine have some big ass tanks available at the armories as well.

I think they already did that a few weeks ago.

 

[Lead]

@HockeyBjj

Never mind. They were considering it three weeks ago and didn’t.

https://www.google.com/amp/s/www.cn...-left-out-of-2-trillion-stimulus-package.html

 

[SBJJ]

I think they already did that a few weeks ago.

They pulled a me! Bought right before the crash

 

[lifelessheap]

The world requires a lot more electricity than it requires oil, oil is just a prime commodity because of transport, this is the time to move all our energetic needs to the electric grid, which can be far better modulated with demands ups and downs than oil.

We need to invest in storage. Huge batteries of all types are needed.

 

[MVelsor]

They'll be saved. We are in the saving game these days. And Trump can not be seen abandoning states he needs

What happens when Cushing fills up?

Was the 10 mil cut surprising that they listened? Could you see getting it bumped to 15-20 as possible?

It's at around 70% capacity right now, they'll be forced to shut down operations. It's looking likely that the US government is going to step in and pay producers to leave their wells untapped. The Energy Department (apparently) has authority to set aside as many as 1 billion barrels. In this case, it would essentially buy oil locked underground but order producers to hold off on extracting or delivering it.

The US also informally agreed to cut their own production but it's going to have to be revised. There's more than one angle to this though which was brought up from the very start of the Hydrocarbon War thread: Big Oil mopping up on stateside extraction after all the small and medium sized exploration firms go bust sans Fed intervention. That sucks because the majors weren't responsible for taking the risk or driving the innovation the revolution required.

Sheffield expanded on this a couple weeks afterwards. This is pre-OPEC+ deal but it's still relevant as far as the big picture and he's very much worth listening to.

 

[HockeyBjj]

How much capacity do we have for the federal emergency reserve? Now sounds like a great time to actually 100% fill it (would also help drive the price up for the industry without actually being a direct bail out with taxpayer money). State’s national guards I imagine have some big ass tanks available at the armories as well.

Trump just announced adding 75 million barrels to strategic reserve

I iz smarts

 

[ookii]

Time to recreate the BP 10 anniversary scene and dump those excess oils back to the ground

 

[AgonyandIrony]

Hey guys, any tips for hoarding gasoline ?

 

[Fanu]

Yeah, it'll be fine (relatively speaking). Shale producers are extremely reluctant to shut down production because it's more costly to do that than operate wells at a loss over a period of weeks or months. Trump already got OPEC+ to cut over 10 million bpd but that doesn't kick in until May and given the extreme global demand destruction, it may need to be closer to 15-20.

I read that oil demand plummeted by 30 million barrels - cutting production by 10 million barrels per day will do nothing for falling oil prices..

 

[Supereem]

A good day for tanker owners

 

[Oceanmachine]

Or a bitter old man. He is like 74 years old, you think he would try and be presidential when people are dying, but no, when you are a trust fund baby whose Daddy was worth 900 million, Donny was probably always craving for attention. He was the kid from Brooklyn whose Dad was a slum lord. Kids of old money in the private schools Donny went to, must have looked down on him. It has made him the thin skinned dude he is today. It did not help that his Dad made him a glorified rent collector when he was in his 30's. Could you imagine having an MBA from the Wharton School of business in your 30's and your job was collecting rent checks, a job anyone with a pulse could do. Then Donny tried to be a casino mogul and his dad had to come in an lose millions on purpose to keep him afloat. Eventually Fred was like fuck that I aint wasting anymore money on my son's disaster casino's. He is just a trust fund kid whose dad either bailed out his fuck ups or made sure his first couple projects were no brainer winners that Daddy got the loans and the permits so even Donny could not fuck it up. So the fact Donny cant handle criticism is understandable. He never got any respect all his life.

Damn imagine being this in denial and pitifully angry. He life owns you and everyone else here. Grew his net worth and is running the US as president. A 2nd term if reelected would take decade or more to undo his policies. Like or dislike that commands respect and power. Oh and he banged some of the hottest women out there, built buildings, was a famous playboy for decades partying with the likes of anyone important and had kids with beautiful women and has highly successful kids and will have tons of grandkids.

In other words he is leaving more of a mark than any of us

 

[MVelsor]

Damn imagine being this in denial and pitifully angry. He life owns you and everyone else here. Grew his net worth and is running the US as president. A 2nd term if reelected would take decade or more to undo his policies. Like or dislike that commands respect and power. Oh and he banged some of the hottest women out there, built buildings, was a famous playboy for decades partying with the likes of anyone important and had kids with beautiful women and has highly successful kids and will have tons of grandkids.

In other words he is leaving more of a mark than any of us