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Maybe I need to buy some tanks to fill with non ethanol premium when its price hits $1.00 a gallon. Gotta think of the future ya know.
 

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Dang, sucks for the guys in oil right now. Hope my buddies out in ND keep their jobs.
You still have to process it, so downstream won't be affected yet. The problem we will run into is where to put it all. I hear that we are at about full storage capacity, unless they start filling peoples pools with it, what do you do?

If your buddies are on the Upstream side, they are fucked.
 

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I can't help but feel like this is a buying opportunity? It's oil, it has to go up, right? If we culled like 50% of the earth's population maybe it would go down, but I'm just not seeing it. WTI costs more to refine, yes? But the other stuff is $15-20 and should still at least double, right?
 

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29,436 Posts
I can't help but feel like this is a buying opportunity? It's oil, it has to go up, right? If we culled like 50% of the earth's population maybe it would go down, but I'm just not seeing it. WTI costs more to refine, yes? But the other stuff is $15-20 and should still at least double, right?
right? :laughing:

i have no idea how, but somebody is set to make millions off this.
 

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678 Posts
I realize it’s crazy low but what is going to happen next as a result of this?
When the virus lock downs open up, everyone who works in the oilfields will get to continue sitting at home going broke.

I think the frackers will take the worst beating. The mom and pop oil companies offshore will be next. Shell, Chevron and BP types will just wait it out.
 
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