Crude Oil Crash!!!

ADK

New member
It's below $11.00 a barrel! The China virus is proving to be a dream come true for communist China and the communists in America. Take down the economies of the free world and President Trump all at once.
 
Hope we're filling up the strategic reserves in the salt domes!

Gasoline $1.45/gal here and I've only used a couple of gallons since this mess started.
angry.gif


Not too funny here in Tx, but received an email yesterday:

How is a bird different from an oil man?
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
The bird can still make a deposit on a new Mercedes.

Regards,
hm
 
Originally Posted By: ADKYes hm, and Nancy Pelosi is making a deposit on every American that had a job and lost it.
mad.gif


Absolutely.....one of the main mantras of the left is to induce dependency upon government on the masses. Much of their agenda is borrowed from #2, 3, 5, 6 below.

47437234971_4874eeb8a2_c.jpg


46436224855_1927b89565_c.jpg


Regards,
hm
 
A few on here should be old enough to remember what Nikita said, something like "we can't defeat you militarily, but we will defeat you economically", looking more and more like the old commie may have been right and that China is on the same page as he was.
 
Last edited:
Originally Posted By: OilPrice.com WTI crude oil futures settle at -$37.63 per barrel - Down $55.90 on the day, some 305.97%#OOTT #WTI #Crude #Oil #Coronavirus $USO

unprecedented daily drop
 
Originally Posted By: Infidel 762Originally Posted By: OilPrice.com WTI crude oil futures settle at -$37.63 per barrel - Down $55.90 on the day, some 305.97%#OOTT #WTI #Crude #Oil #Coronavirus $USO

unprecedented daily drop

Yes,crude was down 'below zero' for the first time in history. This is getting very serious folks.
 
Oil is in recovery mode,above $15.00. Sorry AOC but it looks like the Oil Industry won't crash any time soon.
 
Originally Posted By: SixsixtyMagsA few on here should be old enough to remember what Nikita said, something like "we can't defeat you militarily, but we will defeat you economically", looking more and more like the old commie may have been right and that China is on the same page as he was.

I recall seeing a pic of Nkita in a pig barn in Iowa, mid-late 50s, eating a hotdog saying "you will fall like an overripe plum."
 
Crude fell on the 20th because the 21st was the end of some sort of cycle where you could have to take delivery of the barrels you own. It's never been an issue before but now all the storage is full. So people had to dump their shares, even if they had to pay to get rid of them.

At least that's what I heard on my investment guru's podcast.
 
Originally Posted By: 204 ARCrude fell on the 20th because the 21st was the end of some sort of cycle where you could have to take delivery of the barrels you own. It's never been an issue before but now all the storage is full. So people had to dump their shares, even if they had to pay to get rid of them.

At least that's what I heard on my investment guru's podcast.

I think that's true 204 AR but it's not the entire story. If interested I've pasted the link for a better,or more complete, explanation. My concern is not with foreign or domestic speculators and producers or with the effect of cheap gasoline at the pump. My concern is in regard to a potential collapse of the oil industry inside the U.S. and how a collapse could negatively impact our economy and our newly achieved energy independence. Millions of American jobs
have already been lost due to the China virus. Many thousands more could be lost in the event of a total collapse. At this moment crude is back to nearly $19.00 but still below the critical threshold of $25.00 a barrel needed to maintain the industry.

https://science.howstuffworks.com/environmental/energy/crude-oil-market1.htm
 
It's like a moron big time rich sports player that is dead broke two years after leaving the sport. Except it might just be a handful of weeks to make these pigs belly up.

The money profited in the last 30 or so years could had floated the industry or workers for years of shut down, it went into yachts, private planes, private islands, politicians, yadda yadda.
 
[/color]"My concern is not with foreign or domestic speculators and producers or with the effect of cheap gasoline at the pump. My concern is in regard to a potential collapse of the oil industry inside the U.S. and how a collapse could negatively impact our economy and our newly achieved energy independence. Millions of American jobs have already been lost due to the China virus. Many thousands more could be lost in the event of a total collapse. At this moment crude is back to nearly $19.00 but still below the critical threshold of $25.00 a barrel needed to maintain the industry."[color:#FF0000]

I don't disagree with your point Rock Knocker but the above is the intent of this post.
smile.gif
 
True, and bad news but we have imported oil more than we have pumped our own and America didnt collapse then so...

I think it's time to diversify, all of our eggs are in one oily slippery basket, dependance on oil is a weakness, its 2020, necessity is the mother of invention, it might suck but the worse it is now the sooner we will figure something new out.

Decrease in oil production is just going to slow down the insane bustle of huge urban areas, city kids driving around to get their hair done, going to the movies, sitting bumper to bumper to sit behind their office computer instead of the home computer or flying to paradise to escape their urban stink hole.

If the oil industry after a BOOMING century is still this fragile with the whole world depending on it, time to stop investing in it.
 
Once again I wouldn't disagree with your logic Rock Knocker but, U.S. energy demand increases each year while viable alternatives to oil have not kept up with the increase. The U.S. is far less dependent on foreign oil than it was only a few years ago. Domestic oil, domestic coal, domestic natural gas, and nuclear provide nearly 80% of demand in this country. We should all be hoping that our domestic energy production remains healthy, including crude oil. If not we could see $3.00-$4.00 a gallon gasoline
again like during the Obama era and we could find it very expensive to to heat our homes or turn the lights on.

https://www.statista.com/statistics/203325/us--energy-consumption-by-source/

https://www.eia.gov/tools/faqs/faq.php?id=32&t=6
 
Yes. Cut back, usage is insane. Have you been up in a plane it night? Utterly depressing that lights and cities are as far as the eye can see. New "smart TVs" some leave on 24/7 because they play pictoramas when not some brain melting garbage. Yards with lights all night. Billboards no one wants to look at lit up all night long, billboards completely electronic flashing even more adds with more light pollution. Office building lit up 24/7 etc etc...

We got rid of rush hour traffic and fleets of jumbo jets over night, next we need to cut back on useless/benefitless energy usage. Our gross urban skid marks can be seen on the dark side of the planet from space, its insane.

If I could see the countries energy bills cut in half I would happily pay double for gasoline.
 
Again Rock Knocker you make some good points but I for one am not willing to go back to the 1800's. Your philosophy sounds a bit utopian. How about this: Let's try an experiment where energy consumption in Minnesota is cut in half for a couple of years and see how that goes.
crazy.gif
 
Back
Top