quote:

Originally posted by 2BobTanner:
When did the “Twilight Zone” become reality? There has to be meme out there somewhere for what we are living now. This is an “alternate reality” and a dream, correct?

Pretty sure there was a price war going on between Russia and the Saudi's before da rona struck, it's only gone down hill from there.

Everyone is doing stupid shut like posting their senior pictures on Facebook to support the seniors in this tough time.

Would it make a dent if there was some social media/email chain and everyone in America topped off the cars and pre bought oil for the next couple of oil changes for their cars?

Probably wouldn't help a bit, but who knows?

quote:

Originally posted by 46and2:
So, like, every useful tanker trailer in the US (each of which holds 8000 gallons or 190 barrels), and every available Big Tank Along The Highway or whatever, they're all full? All of the train taker cars in America are full, every rail yard full of full trains, "no one" can store a bunch of better-than-free Crude?

As far as that goes, how expensive can it be to dig big ponds, line them with plastic shit, and fill them up? Texas and Oklahoma alone have gozillions of acres of empty, flat, land. Why aren't they dotted with Crude swimming pools? It comes out of the ground, after all... it can surely sit there, temporarily.

And what about actual Barrels? Why aren't places barreling that shit up at a breakneck rate, stacking them tall and deep? Why aren't there fields of barrels stacked tall as a building or whatever is possible? Someone has done the hard work. found it, drilled for it, and transported it. And we can't *store* it?

Or old mine shafts... ?

Seems so strange that this is the best we can do.

We could build a dam at each end of the Grand Canyon and fill it to the rim. Probably be so much liquid weight, the earth would tilt..

How much would it cost to rent a supertanker a day?

quote:

Originally posted by 21bubba:
How much would it cost to rent a supertanker a day?

A lot. I heard today through the industry grapevine that some large tankers were being paid $230,000 per day to sit on anchor and store crude oil.

So, gasoline should be about ten cents a gallon tomorrow; right?

https://townhall.com/tipsheet/...and-job-los-n2567265

AOC thinks it's great, the perfect time to piss away money towards green shit. I know you're a econ major and all that, but who shifts spending to more expensive options and who thinks it's great when peoples livelihoods are ruined?

quote:

Originally posted by Balzé Halzé:
A lot. I heard today through the industry grapevine that some large tankers were being paid $230,000 per day to sit on anchor and store crude oil.

well there goes my get rich quick scheme.

quote:

Originally posted by Skins2881:
Everyone is doing stupid shut like posting their senior pictures on Facebook to support the seniors in this tough time.

Would it make a dent if there was some social media/email chain and everyone in America topped off the cars and pre bought oil for the next couple of oil changes for their cars?

Probably wouldn't help a bit, but who knows?

Remember the "Cash for Clunkers" program. All that program did was move buying from one period to another as would your comment about buying oil/gas now. The only way for the markets to adjust is for everyone to get back to some form of normalcy, which governments are moving glacially slow toward (for fear of political fallout).

quote:

Originally posted by saigonsmuggler:

quote:

Originally posted by Balzé Halzé:
A lot. I heard today through the industry grapevine that some large tankers were being paid $230,000 per day to sit on anchor and store crude oil.

well there goes my get rich quick scheme.

That depends on how many barrels are on said tanker and how much they pay you to take it off their hands.

quote:

Originally posted by muzzleloader:
https://townhall.com/tipsheet/...and-job-los-n2567265

AOC thinks it's great, the perfect time to piss away money towards green shit. I know you're a econ major and all that, but who shifts spending to more expensive options and who thinks it's great when peoples livelihoods are ruined?

Could that dipshit be any fucking dumber?

What about all those nuke testing underground in he past....can’t we fill them with cheap oil.....???

I hope to God that we are refilling the strategic reserves with cheap oil!!!!

quote:

Originally posted by MRMATT:
So, gasoline should be about ten cents a gallon tomorrow; right?

Not in Pennsylvania

Have we even dropped below $2/gal yet?

I filled up last week at $2.14

quote:

Originally posted by Skins2881:
Everyone is doing stupid shut like posting their senior pictures on Facebook to support the seniors in this tough time.

Would it make a dent if there was some social media/email chain and everyone in America topped off the cars and pre bought oil for the next couple of oil changes for their cars?

Probably wouldn't help a bit, but who knows?

Every little bit helps, right? I'm willing to go fill my tanks tomorrow.
Diesel is down to $2.25 in my 'hood, and regular gas is $1.59 tonight.


Heck, I need motor oil for the truck, too... I'm betting that price hasn't gone down any, though.

If it's not profitable, why don't the producers just shut down for a while? Serious question. I know, layoffs, etc., but still.

quote:

Originally posted by mikeyspizza:
If it's not profitable, why don't the producers just shut down for a while? Serious question. I know, layoffs, etc., but still.

Someone like tatortodd would be more knowledgeable about this, but simply put, it's enormously expensive to restart a well once it's been shut down. At least, that's what I've been told.

The wells I operate are small potatoes, as they only produce around 1500 barrels per month. This afternoon, Phillips66, the buyer in the area posted their price of $-41.05 per barrel for WTI. It’s been quite a few weeks since any of the wells on my leases have made a profit. When the May crude futures contract expires, I expect the posted price to go positive, but it’s hard to tell what the next few weeks will hold. For now, the trend in crude prices is down. I sure as hell am not paying anyone to take my oil. Breakeven for me is $15-20 per barrel depending on the lifting cost per well. Anything below that and I’m shutting them down.

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by mikeyspizza:
If it's not profitable, why don't the producers just shut down for a while? Serious question. I know, layoffs, etc., but still.

Someone like tatortodd would be more knowledgeable about this, but simply put, it's enormously expensive to restart a well once it's been shut down. At least, that's what I've been told.

I'm a surface guy (occasionally a subsea guy) and Big Bore Shooter is orders of magnitude more knowledgeable in subsurface. Due to home officing, I don't have a drilling manager with a billion dollar budget down the hall any more either that I bump into at the coffee machine and pick his brain.

However, I do have an anecdotal story of why we would pay someone to take crude oil. About 12 years ago, I was managing an offshore project that required shutting down a platform and the platform being paid for their downtime based on average production over the past year. To put how bad our project was snakebit into perspective, our oilfield intervention vessel encountered a bearing seizure on the main crane, we had to return to port to have the crane rebuilt (subsea intervention ain't gonna happen without a crane since everything you're installing gets lifted off the deck and lowered to the seabed), and we had to fly techs in from Europe to fix it (new model European crane). The platform's 2 weeks of downtime turned into 5 due to our project. When the project finished, I hopped on a chopper back to the heliport and remember thinking the platform made out like bandits since they got paid to do a turnaround. A few months later, I found out the field only produced 80% after that and since they were paid based on past performance really got screwed long term. In other words, yes it's expensive to restart a field but also the field may not produce like it did again.

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by chellim1:
I wish I had a large storage facility somewhere in Oklahoma...

I'm sitting behind 350,000 barrels of tanker storage right now.

Unfortunately, I'm just paid to push it where they tell me.

I’ll pay you $1000 to push that tanker into a corner and leave it for a while. Another $1000 to push it where it’s supposed to go in about a month when it’s (hopefully) worth more.

So much for the "Peak Oil" predictions of 25 years ago.