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Thread: $6.66/$4.44 barrel oil?

  1. #161
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    Don't forget the take or pay contracts that most sign up for. Produce to fill your firm service.

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    Quote Originally Posted by Darkane View Post
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    Yeah. I sensed that all along, even posted some stuff here about it.

    They either lied about break even costs, or have optimized capex/opex to the new break even.

    It’s not good for the globe.
    cheap energy isn't good for the world? (other than climate change)

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    Quote Originally Posted by Buster View Post
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    cheap energy isn't good for the world? (other than climate change)
    No, you’re right I said it wrong.

    What I meant is It’s bad for the globe in terms of job retention. Cheap energy is the way to boom.

    It’s just better to have $50 cheap(ish) energy rather than 25.

    - - - Updated - - -

    Quote Originally Posted by pheoxs View Post
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    Not necessarily

    You can be selling at a loss but it still be more financially beneficial to do so. Your costs dont drop to 0 if you stop producing, you still have to pay for all that equipment, you still have to pay for power, you still have to pay for maintenance, etc.

    Losing 5$ per barrel while producing may bring more cash in than sitting idle and burning 100k a month with no revenue coming in.
    This is also true. But do still buy that these shale plays are $50 break even? I as sure as hell don’t.

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    Quote Originally Posted by ExtraSlow View Post
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    I mean, I don't want to sound like I want the industry to be in bad shape, precisely the opposite. I want the weakest players to dissappear so the majority can thrive. The scenario where nobody dissapears and everyone drills like hell is what really scares me.

    - - - Updated - - -

    you did. You've been pretty consistent.
    Attachment 91287
    Haha. Nice gif.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

  4. #164
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    Finding the perfect gif is basically my quarantine superpower.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Is this the thread I post the EIA weekly report in? Probably.
    Name:  EIA Weekly report 2020-05-08.PNG
Views: 888
Size:  77.2 KB
    Little into the SPR, little drop in production.
    What's weird is there is an "adjustment" factor for unaccounted volumes that is roughly 1 million barrels a day this week. WHERE THE FUCK DID SEVEN MILLION BARRELS GO?
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  6. #166
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    Quote Originally Posted by ExtraSlow View Post
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    Is this the thread I post the EIA weekly report in? Probably.
    Name:  EIA Weekly report 2020-05-08.PNG
Views: 888
Size:  77.2 KB
    Little into the SPR, little drop in production.
    What's weird is there is an "adjustment" factor for unaccounted volumes that is roughly 1 million barrels a day this week. WHERE THE FUCK DID SEVEN MILLION BARRELS GO?
    That's one hell of a pipeline break.

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    Quote Originally Posted by ExtraSlow View Post
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    Is this the thread I post the EIA weekly report in? Probably.
    Name:  EIA Weekly report 2020-05-08.PNG
Views: 888
Size:  77.2 KB
    Little into the SPR, little drop in production.
    What's weird is there is an "adjustment" factor for unaccounted volumes that is roughly 1 million barrels a day this week. WHERE THE FUCK DID SEVEN MILLION BARRELS GO?
    In field storage?
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  8. #168
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    Yes where did it go lol.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

  9. #169
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    Any anti-Trumpers left in Alberta?

    https://ca.finance.yahoo.com/news/bi...180323417.html

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    Hasn't Trump already approved it twice?

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    We're so fucked. We cant even build a pipeline in our own country let alone across an international border

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    I mean, it's no problem because Trump is winning again.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    I'm starting to like these updates from "the Primary Vision Network" even though the name makes me think of televangelists for some reason.
    Frac Spread counts:
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    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    If Biden wins and does rescind the permit, would TC Energy have a valid case tosue the US gov't to either let it continue or be repaid for damages? In my mind i think it would be a perfectly valid case but no idea if these pipeline approvals come with fine print like "accept this permit at your own risk - a new incoming government can rescind if they want"

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    Quote Originally Posted by sabad66 View Post
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    If Biden wins and does rescind the permit, would TC Energy have a valid case tosue the US gov't to either let it continue or be repaid for damages? In my mind i think it would be a perfectly valid case but no idea if these pipeline approvals come with fine print like "accept this permit at your own risk - a new incoming government can rescind if they want"
    Honestly I could see Biden just not cancelling the permit. He doesn't take office until what, January? So that is 7 months of construction that'll be underway by then plus it'll be a additional source of taxation for the government and after COVID they are going to be in a brutal position financially. Assuming the US pushes through a new permit for the water crossings I could see Biden just doing status quo and not being for the pipeline but not actively stopping it and then making some excuse like it was too late for him to do anything.

    US politicians never hold up their promises once $$$ becomes involved

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    Quote Originally Posted by dirtsniffer View Post
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    We're so fucked. We cant even build a pipeline in our own country let alone across an international border
    Fr tho, is this the best option or most likely option? We can't go east or west so south it is? But didn't the court block it again recently?

    I also think Trump is gonna win 2nd term.

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    Quote Originally Posted by pheoxs View Post
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    Honestly I could see Biden just not cancelling the permit. He doesn't take office until what, January? So that is 7 months of construction that'll be underway by then plus it'll be a additional source of taxation for the government and after COVID they are going to be in a brutal position financially. Assuming the US pushes through a new permit for the water crossings I could see Biden just doing status quo and not being for the pipeline but not actively stopping it and then making some excuse like it was too late for him to do anything.

    US politicians never hold up their promises once $$$ becomes involved
    Good point, I could totally see him backing down on this if he wins. I think he would support this if he was already president, but he made this announcement to try and win some of the far left people who might otherwise either not vote or go Green.

    Quote Originally Posted by max_boost View Post
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    Fr tho, is this the best option or most likely option? We can't go east or west so south it is? But didn't the court block it again recently?

    I also think Trump is gonna win 2nd term.
    It is currently blocked due to a ruling by a Federal judge from Montana:
    https://www.bnnbloomberg.ca/montana-...ings-1.1422110

    I guess he wants to see further environmental reviews (de ja vu with Trans Mountain) before they can proceed.
    Last edited by sabad66; 05-19-2020 at 11:34 AM.

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    Tc woukd gave to spend decades and hundreds of millions of dollars to sue the US government. They are smarter than that.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  19. #179
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    Even if Biden were to rip up the presidential permit would it really matter if the border crossing is already completed? I thought the presidential permit was only needed for the border crossing and that the actual pipeline through each state is based on state approval (unless it goes through a water body which then falls under the army core of engineers approval, which was overturned by the Montana judge)

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    I think they are trying to have the border section completed this year too.

    - - - Updated - - -

    Someone just needs to tell Biden that this pipeline is transporting 10 year old girls and I'm sure he'll get behind it.

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