Standard Oil was originally a refiner. Refining is half their business.
How about those oil prices
- Thread starter Belldozer1
- Start date
It's Ironic, but they measure oil by the barrel, yet the barrel is worth more than the oil. I was thinking if I could afford the storage I'd buy a couple thousand barrels and have them pay me to take it.
…...so.....while no one was looking oil has been on a tear and has risen 50% since Apr 20......to $24.58. That might still be very low, but it is much better than 2 weeks ago. I am optimistic that Bell wont have to pawn the tires from his house.
Seriously Bell, I hope....and we all NEED for oil prices to recover. I suspect I have lost a lot more than you have to this economic shutdown. Besides I need you to keep my SS going....
Seriously Bell, I hope....and we all NEED for oil prices to recover. I suspect I have lost a lot more than you have to this economic shutdown. Besides I need you to keep my SS going....
I like what I’m seeing but a lot of damage has been done in a short amount of time. We’re shutting in about 1500 wells as we speak. Unfortunately it may get much worse before it gets better. By worse, I mean in terms of some oil companies, service companies, etc. ceasing to exist due to oil prices, oil surplus/covid 19 world shutdown. Depends who you talk to.
https://oilprice.com/Energy/Crude-O...Could-Send-US-Oil-Prices-Crashing-In-May.html
https://oilprice.com/Energy/Crude-Oil/The-Death-Of-US-Oil.html
The world is saturated in debt. The service of this debt is what keeps oil and a million other things from being purchased. Until we have some of this debt cancelled, we are going to continue down the asset bubble carnival that we have been on for 20 or more years. The next decade is going to be rocky folks.
Oil is slowly, but steadily trending upward. Now at $32.26/barrel. This is great news! 
Wsj said today that by Xmas we should be normalizing. I think it will be before that but--- we shall see.
In other news, I'm crashing Bell's office in SA at some point this week. Just haven't figured out who I'm going to meet with yet.
In other news, I'm crashing Bell's office in SA at some point this week. Just haven't figured out who I'm going to meet with yet.
Dormant wells start gumming up. Wax can build up, among other things. It's going to cost a pretty penny to bring many of those wells back online---- if you've got a way to kickstart a well, in six months, you can make a pretty penny.
I would say decisions will start to being made around $40ish. The problem still exists with an oil glut so just because he hits $40, if it does, no guarantee it stays there and not a lot of confidence until the economy fully opens and consumption resumes.
Thanks for the info. I am curious.....that ranch I had at Charlotte had a well that was capped....just a pipe sticking out of the ground maybe 6" diameter with a domed threaded cap screwed onto it that was seeping and bubbling. The hogs loved rolling in it. Why did that one never wax up? It always caused me a bit of worry....
no....no Dillards. I dealt with The Heilegman's….Johnny Heilegman was/is a great guy.
My place was a few miles South East of Charlotte...
The reason I ask is B.K. Dillard was a friend of mine, his family owns a place down there they run cattle on. One evening him and another friend went hog hunting, they got separated and ended up about 100 yards from each other. For whatever reason the friend hunting with B.K. Thought he saw a hog in the brush and fired, unfortunately it was B.K. Killed him on the spot. Tragic. He was around late 20’s at the time.
Don’t look now but I wouldn’t be surprised to see increased Texas shale drilling by August
I am gonna stock up on Horses, cause ya'll all the wells are capped and oil not moving like it was, loss of revenue...etc Try riding a horse from NB to SA every morning to work and see the cars parked on side of road like the walking dead, then again throw a couple of stables in SA and NB to feed ya horses while ya work....you can't eat or drink oil, yup, the old days are coming back, ya already wearing ya pistols in beer joints and flirting with waitress, you can see it coming back, already shootin in the streets, think about it...3.50 hamburgers drop to 15 cents which is equivalent...History has been repeating itself for a while now if ya keep up with History...
It's the Fed's system. They are in all markets. They are only now announcing publicly for the desired effect.
How else are all the NFL tickets going to be purchased?
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