Oil down 25% a barrel right now. Not because of Corana Virus....

[Starloans]

Arabs and Russia feuding.....

 

[Boat 405]

Current price of Crude is $30 a barrel.... took a nose dive over the weekend.... Should be interesting tomorrow...

 

[DWC]

Somehow our gas prices in California will go up due to “summer blend”.

 

[Boat 405]

Somehow our gas prices in California will go up due to “summer blend”.

Taxes..... And idiots that voted for the fuel tax a couple years ago... Time to buy oil stocks soon, probably won't be this low anytime soon again....

 

[napanutt]

I read oil down and corona virus and thought we were cleaning our stash.

 

[DWC]

Taxes..... And idiots that voted for the fuel tax a couple years ago... Time to buy oil stocks soon, probably won't be this low anytime soon again....

Yeah, and then there’s that.

 

[LargeOrangeFont]

Somehow our gas prices in California will go up due to “summer blend”.

Post of the week.

 

[AZMIDLYF]

Yep, OPEC boys couldn't agree on how much to cut production in order to bump the price.

 

[farmo83]

Well see how determined Russia and saudi are at driving the shale players out. It will take months before any production cuts actually hits the market. Also rates are insanely cheap right now so it would be easy for companies to borrow. Once demand returns from the virus it will help but even then it will take time to clear the glut of oil on the market. Supply and demand will equalize it will just be painful until it does.

 

[boatpi]

I just paid $2.61 for diesel in Vegas, of course pumped in from CA. Gas in the $2.58 range at Sam's.

 

[DILLIGAF]

Rut roh........Crazy day coming up on wall street over this.......

 

[LazyLavey]

Seems it's never relevant

Why don't we see the residual effect at the pump?

 

[pronstar]

Seems it's never relevant

Why don't we see the residual effect at the pump?

I wouldn’t mind seeing things dip a bit more[emoji106]

Sent from my iPhone using Tapatalk Pro

 

[NicPaus]

Just put $200 in one of the work trucks and not even full. Diesel $3.79 a gallon.

 

[Bigbore500r]

Somehow our gas prices in California will go up due to “summer blend”.

Or a well timed refinery fire. Or well timed maintenance. That train is never late!

 

[Carlson-jet]

Race to the bottom to cut production. Going to be an expensive summer at the pumps.

 

[LazyLavey]

I wouldn’t mind seeing things dip a bit more[emoji106]

View attachment 852841


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Holy Crap!!! looks like 1980 prices... in socal

 

[DWC]

Or a well timed refinery fire. Or well timed maintenance. That train is never late!

Funny, the drywall and plywood manufactures used to do the same until they got sued! Refineries pretty much do what they want.

 

[Bigbore500r]

Seems it's never relevant

Why don't we see the residual effect at the pump?

 

[Carlson-jet]

Holy Crap!!! looks like 1980 prices... in socal

I remember a buck a gallon around 87'-89, I know that because my 1 ton Chevy work van had a 36 gallon tank.

 

[Bigbore500r]

Funny, the drywall and plywood manufactures used to do the same until they got sued! Refineries pretty much do what they want.

Exactly. It's like the politicians have their hand in the pockets of the energy companies or something

 

[Rajobigguy]

Back in the 70's when I had my station the price for Super Shell on the full service island (and by full service I mean full service, not some guy that comes out, leans on your fender and says " yea what do you want" ) was $.52 a gallon.

 

[Blackmagic94]

Back in the 70's when I had my station the price for Super Shell on the full service island (and by full service I mean full service, not some guy that comes out, leans on your fender and says " yea what do you want" ) was $.52 a gallon.

lol. Ok boomer

 

[HB2Havasu]

Arabs and Russia feuding.....

Russia will lose that fight. Suadi Arabia could give away free oil for 10 years and still have more gold than the entire world combined!

 

[Andy B.]

I just paid $2.61 for diesel in Vegas, of course pumped in from CA. Gas in the $2.58 range at Sam's.

Where? I saw it for 2.74 at a 7/11 at warmsprings and gibson

 

[Carlson-jet]

Russia will lose that fight. Suadi Arabia could give away free oil for 10 years and still have more gold than the entire world combined!

It's not about Russia or the M.E.. It's about bending the U.S. market at the knee imo.

 

[jetboatperformance]

Back in the 70's when I had my station the price for Super Shell on the full service island (and by full service I mean full service, not some guy that comes out, leans on your fender and says " yea what do you want" ) was $.52 a gallon.

When I first started driving in mid sixties gas was 33 9/10s .... 3 gallons for a buck.. but I made 1.35 per hour at that same full service Chevron station and we were required to check fluids wash ALL windows and check tire pressures

 

[boatpi]

I used sams in arroyo center, Southwest by my house.

 

[COCA COLA COWBOY]

It's not about Russia or the M.E.. It's about bending the U.S. market at the knee imo.

This!!!

Texas became a big player in oil and the Russians and Arabs want to play havoc on the US market.

 

[mjc]

Exactly. It's like the politicians have their hand in the pockets of the energy companies or something

For some reason the government get more per gallon than an the oil company makes per gallon

 

[AZMIDLYF]

On Friday, OPEC ally Russia opted out of a Saudi-spearheaded proposal to deepen crude production cuts. With coronavirus tanking demand, Saudi producers wanted to cap supply to prop up oil prices.

• Covid-19 is slated to hamstring global crude demand by up to 2.1 million barrels per day in H1 2020, per Goldman Sachs.

Russia was unbothered. Allegedly tired of 1) production cuts favoring U.S. shale producers and 2) holding back energy investments because of the cuts, the Kremlin decided enough was enough.

What that means
Katy bar the door. Saudi Arabia announced hours after the disastrous meeting that it’s majorly boosting oil output next month. It also slashed prices for its crude the most in more than 30 years—essentially declaring an all-out price war.

• Lowering prices = sweetening Saudi crude for refiners in Asia, Europe, and the U.S.

Big picture
The buy-Saudi-it’s-cheap strategy could immediately force Russia and other producers to rejoin negotiations. One downside: Shares of Saudi Aramco fell below their IPO price for the first time yesterday.

• For Saudi Arabia...low oil prices are a blow to an economy heavily dependent on energy. Some experts say oil could fall to $20 this year, but the Saudis need about $80/barrel to finance government spending.
• For Russia...it can handle lower prices thanks to a far more diversified economy. The country’s breakeven price is about $42, plus it’s been squirreling away billions for rainy days like this one.

Bottom line: OPEC’s alliance with Russia is crumbling like a Nature Valley bar, and that's brutalizing oil markets. But it also jeopardizes the diplomatic inroads Saudi Arabia and Russia spent the last several years cultivating.

 

[ChevelleSB406]

Refiners run regardless, its production and pumping that goes up and down to move the needle. Refiners get a lot of heat they don't deserve, most of the bigs are selling refineries to the smaller companies because it isn't worth it to them. Pulling it out of the ground is what makes the money.

California has successfully conditioned us all to the inflated prices continuing when crude is cheap, but again, the amount of taxes and fees in a gallon will make you puke. Wanna know why the new charges are fees and not taxes? They are calculated off of the total including tax. Ain't that some creative accounting shit.

Saudi's break even number last year was $75/bbl, but that is because all their national costs are rolled into that number, its not the cost to pull it out the ground. You still a pipe in the ground and it comes out and very light refining needed. Keep that in mind when you hear similar break even numbers for Canadian tar sands etc that are exponentially more expensive to turn to gasoline.

I enjoy cheap gas as much as the next guy, I have a chevelle, truck, and boat, but even with all this bullshit it is still cheaper than a gallon of bottled water, milk, etc, and think of the process of getting it and refining it to get it to you.

Hopefully the dick measuring ends soon for the sake of the stock market, the economy, and all related businesses.

 

[92 cole]

ELECTION YEAR. End of story.

 

[RichL]

Back in the 70's when I had my station the price for Super Shell on the full service island (and by full service I mean full service, not some guy that comes out, leans on your fender and says " yea what do you want" ) was $.52 a gallon.

When I first started driving in mid sixties gas was 33 9/10s .... 3 gallons for a buck.. but I made 1.35 per hour at that same full service Chevron station and we were required to check fluids wash ALL windows and check tire pressures

Sitting here reading this remembering when I first got a driver's license the price was $0.23 per gallon. Couple of bucks went a long way.

 

[boatnam2]

People are panicking because they can't get enough paper to wipe their ass, imagine if they had no gas and had to walk.

 

[jetboatperformance]

I worked at a Chevron mid 70s, Anyone here Remember Chevron Red, White and Blue pumps I think the white was 100+ leaded octane ... GOOD shit !

 

[Rajobigguy]

I worked at a Chevron mid 70s, Anyone here Remember Chevron Red, White and Blue pumps I think the white was 100+ leaded octane ... GOOD shit !

Yep remember it well, when I had my station my buddy Gary had the Chevron/Standard station down the street. BTW at that time Super Shell was 102 octane leaded, I could run my Cougar on just about any make of premium gas with no problems and it had 13.5 to 1 compression.