I was graduating from school, filling up my new (now 16 year old) truck for the first time. .88 per gallon. I was loving it! I remember diesel on the water for around .71/gal.
Something else to keep in the back of your mind(s) is the amount of TAX that the States and Federal Government make off of the sale at the pump.
I just do not see our Money Loving Government letting the price slip too far as it will hurt when the time comes for them to get all of their “Pork” paid for.
Was watching news tonight and it’s not just oil. All commodities are way down as well.
I’m afraid this will impact more than mariners servicing the GoM. Ore and bulk carriers traversing the Great Lakes and oceans will also be impacted as producers throttle back awaiting a return of profitability.
This has the potential of turning into a real suck fest.
[QUOTE=Jetryder223;174916]Was watching news tonight and it’s not just oil. All commodities are way down as well.
I’m afraid this will impact more than mariners servicing the GoM. Ore and bulk carriers traversing the Great Lakes and oceans will also be impacted as producers throttle back awaiting a return of profitability.
This has the potential of turning into a real suck fest.[/QUOTE]
There’s been a glut of cheap steel from China that has been killing US steel demand. I’ve heard a couple of ore mines are idling right now. Also, there are a number of lake boats that have laid up early this season and others that never came out at all. Things aren’t looking so hot up here right now.
Some estimates say that it costs about $10 per barrel for the Saudis to extract oil. They can get it out of the ground so cheap as it’s geologically easy to access and they have a cheap source of labor (allegedly slaves too). Even though the low price of oil cuts means their government has alot less money to spend, they can afford it as they are a totalitarian state so all departmental budgets can be cut at will without any fear of public backlash. Government protesters get executed there, recently one guy got sentenced to cruisifiction for doing so.
I left Honolulu about 2.5 weeks ago and gasoline there was about 2.20 at the Navy Exchange and 2.70 elsewhere (this for regular unleaded). On O’ahu.
Came home and reg unleaded is 1.84.
I haven’t seen it that low in eons.
[QUOTE=catherder;174938]I left Honolulu about 2.5 weeks ago and gasoline there was about 2.20 at the Navy Exchange and 2.70 elsewhere (this for regular unleaded). On O’ahu.
Came home and reg unleaded is 1.84.
I haven’t seen it that low in eons.[/QUOTE]
Yeah, I paid a buck eighty and change for Super at Costco the other day on the south side of Houston. . . it is a bit more elsewhere. . .
[QUOTE=lm1883;174930]They can’t really afford it though. The Saudis are burning through their reserves like crazy and at this pace will have them exhausted in less than 5 years. Social spending alone tops $120 billion annually to prevent public backlash (most young Saudis are unemployed) and lord knows what they are spending to keep fighting in Yemen and Syria. Houthis have been regularly attacking Jizan Province in southern Saudi and have sunk 4 of their warships. If nothing else it’s gonna be interesting after the new year.[/QUOTE]
They are burning through their reserve right now, but they can easily cut their spending and make their cash reserves last much longer. If there is a public backlash all they’ll do is decapitate and crucify some more people, all the while Obama says nothing. If Trump gets elected next year, it would probably lead to a souring of the relationship with the middle eastern “allies” which could drive up the oil price, maybe the big oil companies will back trump.
I remember in the mid-90’s when I first got into the O&G industry. Prices were around 20/bbl. Gas was ~.90/gallon in Louisiana and I remember paying $.75/gallon around Lufkin, Tx. And the industry was busy and good.
[QUOTE=Tugs;174904]Something else to keep in the back of your mind(s) is the amount of TAX that the States and Federal Government make off of the sale at the pump.
I just do not see our Money Loving Government letting the price slip too far as it will hurt when the time comes for them to get all of their “Pork” paid for.[/QUOTE]
Your gubiment ain’t stupid… it’s an excise tax, that is tax per gallon independent of the price of the product. So really, if you break it down, you pay more tax the cheaper the gas gets.
[QUOTE=Ea$y Money;174961]Your gubiment ain’t stupid… it’s an excise tax, that is tax per gallon independent of the price of the product. So really, if you break it down, you pay more tax the cheaper the gas gets.[/QUOTE]
And the states usually push for a tax increase when the price drops…
[QUOTE=injunear;174964]And the states usually push for a tax increase when the price drops…[/QUOTE]
And don’t reverse the increase when the prices go up. . .
[QUOTE=Jetryder223;174858]Timing is perfect then. I should put 20 years in with MSC, get my Masters ticket… [/QUOTE]
Sure, where you could punch in and out for 20 years, spend very little time ashore, become a social retard, learn very little, and end up only slightly more proficient in your seamanship skills than some DP jockey on a MODU. Is that really what you want?
Or option 2: sail on actual commercial ships and build valuable seamanship skills. You’ll ending working a little harder, though…
Hmm. I wonder.
[ATTACH]4324[/ATTACH]
Or do enough time to get vested and medical for life at retirement age. And they will pay for all your upgrades along the way. I think it might be 5 or 10 years to get vested.
[QUOTE=Heat Miser;174969]Sure, where you could punch in and out for 20 years, spend very little time ashore, become a social retard, learn very little, and end up only slightly more proficient in your seamanship skills than some DP jockey on a MODU. Is that really what you want? [/QUOTE]
Social retard? Nawww… I compensate for my social retardedness by spending more time on gCaptain forum. Who needs real friends when I have you virtual mugs?
[QUOTE=Jetryder223;174994]Social retard? Nawww… I compensate for my social retardedness by spending more time on gCaptain forum. Who needs real friends when I have you virtual mugs?[/QUOTE]
I have found that social retards go to sea. . . going to sea doesn’t make social retards. . . even with all my years ashore now, I still find myself to be basically antisocial. . . and I have a hard time marketing to clients and potential clients that I don’t like. . . I am doomed, but too old to care. . .
[QUOTE=cmakin;175040]I have found that social retards go to sea. . . going to sea doesn’t make social retards. . . even with all my years ashore now, I still find myself to be basically antisocial. . . and I have a hard time marketing to clients and potential clients that I don’t like. . . I am doomed, but too old to care. . .[/QUOTE]
Thank you cmakin.
Your “Thanks” pushed my count to 500.
My work here is done.
[QUOTE=Jetryder223;175044]Thank you cmakin.
Your “Thanks” pushed my count to 500.
My work here is done.[/QUOTE]
Have another.
[QUOTE=cmakin;175045]Have another.[/QUOTE]
The correct quote should have been “May I Have Another”.