Oil ↓

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WestTexasCrude

Re: Oil ↓

#51

Post by WestTexasCrude »

Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
Maybe add on top of this next week the unprecedented (for modern times) decision by the Texas Railroad Commission (regulates the State's oil and gas industry) to order major production cuts mainly from the Permian Basin.
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Animal
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Re: Oil ↓

#52

Post by Animal »

WestTexasCrude wrote: Sun Apr 12, 2020 6:43 pm
Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
Maybe add on top of this next week the unprecedented (for modern times) decision by the Texas Railroad Commission (regulates the State's oil and gas industry) to order major production cuts mainly from the Permian Basin.
do you really need to impose major production cuts on the permian basin when oil prices drop to these levels? i mean don't they just automatically shut off the valves when it gets down to $30?
WestTexasCrude

Re: Oil ↓

#53

Post by WestTexasCrude »

Flumper wrote: Sun Apr 12, 2020 6:49 pm
WestTexasCrude wrote: Sun Apr 12, 2020 6:43 pm
Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
Maybe add on top of this next week the unprecedented (for modern times) decision by the Texas Railroad Commission (regulates the State's oil and gas industry) to order major production cuts mainly from the Permian Basin.
do you really need to impose major production cuts on the permian basin when oil prices drop to these levels? i mean don't they just automatically shut off the valves when it gets down to $30?
No they don't always. You have to keep in mind that the US Oil industry is based on one principle back from it's 1860's roots that to this day is still almost unique in the World. Just about 100% of the Countries on Earth consider it's oil wealth nationally owned. Actions can take place at the national level. Here, it's privately owned ie- landowners mineral rights, etc.
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Animal
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Re: Oil ↓

#54

Post by Animal »

WestTexasCrude wrote: Sun Apr 12, 2020 7:03 pm
Flumper wrote: Sun Apr 12, 2020 6:49 pm
WestTexasCrude wrote: Sun Apr 12, 2020 6:43 pm
Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
Maybe add on top of this next week the unprecedented (for modern times) decision by the Texas Railroad Commission (regulates the State's oil and gas industry) to order major production cuts mainly from the Permian Basin.
do you really need to impose major production cuts on the permian basin when oil prices drop to these levels? i mean don't they just automatically shut off the valves when it gets down to $30?
No they don't always. You have to keep in mind that the US Oil industry is based on one principle back from it's 1860's roots that to this day is still almost unique in the World. Just about 100% of the Countries on Earth consider it's oil wealth nationally owned. Actions can take place at the national level. Here, it's privately owned ie- landowners mineral rights, etc.
well its the oil producers themselves that are asking for the RR commission to impose the restrictions. so i guess they are trying to create a mini-opec within the state.
WestTexasCrude

Re: Oil ↓

#55

Post by WestTexasCrude »

Flumper wrote: Sun Apr 12, 2020 7:07 pm
WestTexasCrude wrote: Sun Apr 12, 2020 7:03 pm
Flumper wrote: Sun Apr 12, 2020 6:49 pm
WestTexasCrude wrote: Sun Apr 12, 2020 6:43 pm
Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
Maybe add on top of this next week the unprecedented (for modern times) decision by the Texas Railroad Commission (regulates the State's oil and gas industry) to order major production cuts mainly from the Permian Basin.
do you really need to impose major production cuts on the permian basin when oil prices drop to these levels? i mean don't they just automatically shut off the valves when it gets down to $30?
No they don't always. You have to keep in mind that the US Oil industry is based on one principle back from it's 1860's roots that to this day is still almost unique in the World. Just about 100% of the Countries on Earth consider it's oil wealth nationally owned. Actions can take place at the national level. Here, it's privately owned ie- landowners mineral rights, etc.
well its the oil producers themselves that are asking for the RR commission to impose the restrictions. so i guess they are trying to create a mini-opec within the state.
Actually back in the late 1950's, the future Venezuela Oil minister was at the University of Texas- Austin getting his Petroleum Engineering degree. Studied the Texas RRC charter and methods. He was the author of OPEC in 1960. It's charter is almost word for word the one from the TRRC
WestTexasCrude

Re: Oil ↓

#56

Post by WestTexasCrude »

And if the TRRC actually goes through with this this week, it will be the most dramatic action is has taken in 90 years. In the early 1930's the huge (understatement) East Texas oil field was discovered right when the Depression started. Flooded the worldwide oil market- prices dropped to near 10 cents per barrel. cheaper than water. Russia had built a railroad in the 20's from it's Bakku fields on the Caspian 80 miles over a mountain range to ports on the Mediterranean. By mid 1930's it's price was double what Standard was offering in the same port after shipping it 6,000 miles from E Texas. TRRC shut the field down. Texas Governor called out the State's National Guard, etc.
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FSchmertz
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Re: Oil ↓

#57

Post by FSchmertz »

Antknot wrote: Sun Apr 12, 2020 6:36 pm Oil Price War Ends With Historic OPEC+ Deal to Cut Production

https://www.bloomberg.com/amp/news/arti ... production
A quick read says they're cutting production by only half of the amount being overproduced i.e. demand down 20 mbd, cut production 9.7 mbd.

Doesn't seem like this will increase prices, and I also thought I read that the speculators don't think so too.
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Charliesheen
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Re: Oil ↓

#58

Post by Charliesheen »

I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
A cunt is a cunt by any other name.
WestTexasCrude

Re: Oil ↓

#59

Post by WestTexasCrude »

Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium
I think I see your problem. What do you own- a Ferrari?
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FSchmertz
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Re: Oil ↓

#60

Post by FSchmertz »

Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
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Charliesheen
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Re: Oil ↓

#61

Post by Charliesheen »

I have a utility body that gets aboot 12. Mostly city driving, or used to be...

And a 25 year old sedan that averages 25. But I can’t keep my foot out of it.

Out gas taxes are the highest in the country. And our roads among the worst.
A cunt is a cunt by any other name.
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B-Tender
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Re: Oil ↓

#62

Post by B-Tender »

Charliesheen wrote: Sun Apr 12, 2020 8:31 pm I have a utility body that gets aboot 12. Mostly city driving, or used to be...

And a 25 year old sedan that averages 25. But I can’t keep my foot out of it.

Out gas taxes are the highest in the country. And our roads among the worst.
The roads are what piss me off. I don't care if I spend an extra $50/month on gas.
WestTexasCrude

Re: Oil ↓

#63

Post by WestTexasCrude »

FSchmertz wrote: Sun Apr 12, 2020 8:23 pm
Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
WestTexasCrude

Re: Oil ↓

#64

Post by WestTexasCrude »

Charliesheen wrote: Sun Apr 12, 2020 8:31 pm


Out gas taxes are the highest in the country. And our roads among the worst.
Unless you live in Cali- they are laughing at this statement.
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Animal
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Re: Oil ↓

#65

Post by Animal »

i just wish that Texas would for ONE FUCKING TIME take this opportunity to raise the gas tax in order to raise money for roads. fuck these toll roads every fucking place. i hope the virus bankrupts every one of them.
WestTexasCrude

Re: Oil ↓

#66

Post by WestTexasCrude »

Flumper wrote: Sun Apr 12, 2020 8:41 pm i just wish that Texas would for ONE FUCKING TIME take this opportunity to raise the gas tax in order to raise money for roads. fuck these toll roads every fucking place. i hope the virus bankrupts every one of them.
You can thank Herr Perry and his cronies for that BS leasing multi-decades leases for European investors. I drive around all of you any time I guess close. I'm not paying 1 dime ever to drive on a Texas highway.
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FSchmertz
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Re: Oil ↓

#67

Post by FSchmertz »

WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
FSchmertz wrote: Sun Apr 12, 2020 8:23 pm
Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
WestTexasCrude

Re: Oil ↓

#68

Post by WestTexasCrude »

FSchmertz wrote: Sun Apr 12, 2020 9:58 pm
WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
FSchmertz wrote: Sun Apr 12, 2020 8:23 pm
Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
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FreakShowFanatic
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Re: Oil ↓

#69

Post by FreakShowFanatic »

WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
FSchmertz wrote: Sun Apr 12, 2020 9:58 pm
WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
FSchmertz wrote: Sun Apr 12, 2020 8:23 pm
Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
WestTexasCrude

Re: Oil ↓

#70

Post by WestTexasCrude »

FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm
WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
FSchmertz wrote: Sun Apr 12, 2020 9:58 pm
WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
FSchmertz wrote: Sun Apr 12, 2020 8:23 pm
Charliesheen wrote: Sun Apr 12, 2020 8:17 pm I paid $3.50 for premium on Friday. Such bullshit. 60 miles as the crow flies from 2 or 3 refineries and a deep water port.
About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
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FreakShowFanatic
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Re: Oil ↓

#71

Post by FreakShowFanatic »

WestTexasCrude wrote: Mon Apr 13, 2020 12:22 am
FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm
WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
FSchmertz wrote: Sun Apr 12, 2020 9:58 pm
WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
FSchmertz wrote: Sun Apr 12, 2020 8:23 pm About $1.89 here, I'm sure it's lower elsewhere (they raised our taxes a couple of years ago, so mostly the same as NY & CT).
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
I think you're prolly right but like I said the NJ citizens don't mind it.

Actually, the most retarded thing that NJ did was put in this dumbass mall that costs many billions. I was skeptical that it would make money but now, being the newest biggest mall on the planet with all this & all that will have no visitors with this pandemic. Yeah, what a "dream" mall. Thanks NJ for raising my taxes yet again for this dimwit idea. :lol:

Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought

https://www.cnbc.com/2020/04/06/stalled ... uture.html
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FSchmertz
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Re: Oil ↓

#72

Post by FSchmertz »

FreakShowFanatic wrote: Mon Apr 13, 2020 12:30 am
WestTexasCrude wrote: Mon Apr 13, 2020 12:22 am
FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm
WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
FSchmertz wrote: Sun Apr 12, 2020 9:58 pm
WestTexasCrude wrote: Sun Apr 12, 2020 8:35 pm
And yet one of only 2 states that you are not allowed to pump your own gas. JC :lol: :lol:
Worse than that!
Recently, Oregon passed a law that gives customers the right to pump their own gas.
:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
I think you're prolly right but like I said the NJ citizens don't mind it.

Actually, the most retarded thing that NJ did was put in this dumbass mall that costs many billions. I was skeptical that it would make money but now, being the newest biggest mall on the planet with all this & all that will have no visitors with this pandemic. Yeah, what a "dream" mall. Thanks NJ for raising my taxes yet again for this dimwit idea. :lol:

Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought

https://www.cnbc.com/2020/04/06/stalled ... uture.html
That thing has been dragging on for seeming decades, and when they finally get it mostly running, the plague starts.

"Someone up there" must hate the idea. :roulette:

P.S. It's been 17 years!
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megman
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Re: Oil ↓

#73

Post by megman »

FSchmertz wrote: Mon Apr 13, 2020 12:57 am
FreakShowFanatic wrote: Mon Apr 13, 2020 12:30 am
WestTexasCrude wrote: Mon Apr 13, 2020 12:22 am
FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm
WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
FSchmertz wrote: Sun Apr 12, 2020 9:58 pm Worse than that!

:redface:
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
I think you're prolly right but like I said the NJ citizens don't mind it.

Actually, the most retarded thing that NJ did was put in this dumbass mall that costs many billions. I was skeptical that it would make money but now, being the newest biggest mall on the planet with all this & all that will have no visitors with this pandemic. Yeah, what a "dream" mall. Thanks NJ for raising my taxes yet again for this dimwit idea. :lol:

Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought

https://www.cnbc.com/2020/04/06/stalled ... uture.html
That thing has been dragging on for seeming decades, and when they finally get it mostly running, the plague starts.

"Someone up there" must hate the idea. :roulette:

P.S. It's been 17 years!
Seems even God hates NJ. :lol:
MY PEOPLE SKILLS ARE JUST FINE. IT"S MY TOLERANCE FOR IDIOTS THAT NEEDS WORK
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FreakShowFanatic
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Re: Oil ↓

#74

Post by FreakShowFanatic »

megman wrote: Mon Apr 13, 2020 1:29 am
FSchmertz wrote: Mon Apr 13, 2020 12:57 am
FreakShowFanatic wrote: Mon Apr 13, 2020 12:30 am
WestTexasCrude wrote: Mon Apr 13, 2020 12:22 am
FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm
WestTexasCrude wrote: Sun Apr 12, 2020 11:44 pm
So NJ stands alone. Unions must have a hell of lobbyists faction in Trenton. "Teamster's Union of Gas Pumpers". Hell of a job.
:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
I think you're prolly right but like I said the NJ citizens don't mind it.

Actually, the most retarded thing that NJ did was put in this dumbass mall that costs many billions. I was skeptical that it would make money but now, being the newest biggest mall on the planet with all this & all that will have no visitors with this pandemic. Yeah, what a "dream" mall. Thanks NJ for raising my taxes yet again for this dimwit idea. :lol:

Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought

https://www.cnbc.com/2020/04/06/stalled ... uture.html
That thing has been dragging on for seeming decades, and when they finally get it mostly running, the plague starts.

"Someone up there" must hate the idea. :roulette:

P.S. It's been 17 years!
Seems even God hates NJ. :lol:
Yet I still think this place is awesome. Call me the devil. :lol:

I'll still be retiring to Texas or somewhere but NJ is awesome when you're young and want to see the best of the best, especially when it comes to women & entertainment & restaurants... 8-)
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FSchmertz
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Re: Oil ↓

#75

Post by FSchmertz »

FreakShowFanatic wrote: Mon Apr 13, 2020 1:38 am
megman wrote: Mon Apr 13, 2020 1:29 am
FSchmertz wrote: Mon Apr 13, 2020 12:57 am
FreakShowFanatic wrote: Mon Apr 13, 2020 12:30 am
WestTexasCrude wrote: Mon Apr 13, 2020 12:22 am
FreakShowFanatic wrote: Sun Apr 12, 2020 11:54 pm

:lol: Sometimes I admit it, when I'm impatient and could easily jump out of my car & pump my own gas I find it annoying. But those times are far & few between, they're almost always there to do their service.

I start to remember when it's cold, raining, or snowing outside & then I appreciate these people out there pumping my gas. Gas is very cheap around here too.

I'd have to say having these people available to pump gas for me or my wife & we don't even have to bother getting out of the car is more of a plus than a minus. In other words, that's the last thing I'd complain about when it comes to NJ.
Not your comment but this NJ law is easily the most retarded in the history of the US.
I think you're prolly right but like I said the NJ citizens don't mind it.

Actually, the most retarded thing that NJ did was put in this dumbass mall that costs many billions. I was skeptical that it would make money but now, being the newest biggest mall on the planet with all this & all that will have no visitors with this pandemic. Yeah, what a "dream" mall. Thanks NJ for raising my taxes yet again for this dimwit idea. :lol:

Stalled by coronavirus pandemic, American Dream rethinks its future and retail becomes an afterthought

https://www.cnbc.com/2020/04/06/stalled ... uture.html
That thing has been dragging on for seeming decades, and when they finally get it mostly running, the plague starts.

"Someone up there" must hate the idea. :roulette:

P.S. It's been 17 years!
Seems even God hates NJ. :lol:
Yet I still think this place is awesome. Call me the devil. :lol:

I'll still be retiring to Texas or somewhere but NJ is awesome when you're young and want to see the best of the best, especially when it comes to women & entertainment & restaurants... 8-)
Moving away is for when you're old and moldy. If you want to be in the middle of the action, this is the place to be.
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