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Thread: $6.66/$4.44 barrel oil?

  1. 05-04-2020, 05:15 PM #141
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    Quote Originally Posted by vengie View Post
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    Good news! Irving gets approval to source Alberta oil!

    Bad news! instead of traveling 4600km in a pipeline, it will instead travel nearly 12,000km via tanker through the Panama Canal!

    I love this country...

    https://business.financialpost.com/c...e-panama-canal
    Canada has a lot of dumb people and a few smart ones.

    The US has a similar problem but they have a critical mass of smart people - Canada does not have a critical mass of smart people.
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  2. 05-05-2020, 08:58 AM #142
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    The US doesn't have a Quebec.
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  3. 05-05-2020, 09:17 AM #143
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    Quote Originally Posted by bigboom View Post
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    The US doesn't have a Quebec.
    Have you met Florida?
    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.
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  4. 05-05-2020, 09:19 AM #144
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    haha agreed but Florida doesn't sit smack dab in the middle of the country preventing access to an entire coast.
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  5. 05-05-2020, 09:20 AM #145
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    But the whales...
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  6. 05-05-2020, 09:55 AM #146
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    The bulls are running baby. To infinity and beyond!
    (coles: Oil price is going up, an ExtraSlow still thinks it's stupid)
    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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  7. 05-05-2020, 12:38 PM #147
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    Maybe the oil price thinks you're stupid.
    2007 GMC 2500 Duramax
    1981 GMC C1500 454
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  8. 05-05-2020, 12:46 PM #148
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    Maybe the stupid think that you're ExtraSlow.
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  9. 05-05-2020, 12:56 PM #149
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    Quote Originally Posted by SKR View Post
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    Maybe the oil price thinks you're stupid.
    I'm beginning to suspect this is what's really happening here.
    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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  10. 05-05-2020, 01:05 PM #150
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    Quote Originally Posted by The_Rural_Juror View Post
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    Maybe the stupid think that you're ExtraSlow.
    I think we're all ExtraSlow.

    Quote Originally Posted by ExtraSlow View Post
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    I'm beginning to suspect this is what's really happening here.
    Everything in the universe is smarter than me.
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  11. 05-06-2020, 08:41 AM #151
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    Production is dropping, now at 11,900,000 bbl/day, but still far exceeds demand. SPR has taking in a little. Other commercial storage is filling up. Ho Hum.
    Name: EIA Weekly Petroleum 2020-05-06.PNG Views: 649 Size: 77.1 KB
    http://ir.eia.gov/wpsr/overview.pdf
    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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  12. 05-06-2020, 08:54 AM #152
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    Quote Originally Posted by SKR View Post
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    I think we're all ExtraSlow.
    I am MediumRareSlow. Strictly 49% percentile.
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  13. 05-08-2020, 07:02 AM #153
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    https://calgaryherald.com/opinion/br...-gas-industry/

    Thing is, Elizabeth May uses more oil than anyone flying to and from Ottawa from her Van Island home every week. Yes she does this every week parliament is in session.
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  14. 05-08-2020, 07:34 AM #154
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    Quote Originally Posted by mr2mike View Post
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    https://calgaryherald.com/opinion/br...-gas-industry/

    Thing is, Elizabeth May uses more oil than anyone flying to and from Ottawa from her Van Island home every week. Yes she does this every week parliament is in session.
    Did May just give us the old "Learn To Code"?
    She should be banned from Twitter for hate speech. (That's literally a thing).
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  15. 05-08-2020, 08:43 AM #155
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    She knows O&G make up a good chunk of the Canadian economy and we're a Petro Currency?
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  16. 05-08-2020, 09:24 AM #156
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    I hate this.
    Name: Screenshot_20200508-092345.png Views: 528 Size: 64.4 KB
    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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  17. 05-08-2020, 10:50 AM #157
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    Drill baby drill..........did anyone expecting anything less though....
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  18. 05-08-2020, 10:51 AM #158
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    Quote Originally Posted by ExtraSlow View Post
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    I hate this.
    Name: Screenshot_20200508-092345.png Views: 528 Size: 64.4 KB
    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.
    "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
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  19. 05-08-2020, 10:54 AM #159
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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 - - -

    Quote Originally Posted by Darkane View Post
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    Yeah. I sensed that all along, even posted some stuff here about it.
    you did. You've been pretty consistent.
    Name: CookedSelfassuredFrenchbulldog-size_restricted.gif Views: 373 Size: 2.71 MB
    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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  20. 05-08-2020, 11:09 AM #160
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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.
    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.
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