Historic Drop in Oil Price

OK so there are ample space for 75 mill. bbls of crude oil in the SPR:(Trump probably checked before making that statement)

Yes indeed, lots of pipelines. pumps and other infrastructure on the surface that would be an attractive target for “enemy bombs” (If anybody is dumb enough to try)

Could also be an attractive target for saboteurs, or terrorists (or just plain cyber attack by a kid from his bedroom)

What is the good of millions of barrels of crude oil in storage, if you cannot bring it to the surface, or transport it to refineries?

Honestly, right now I’m making GOOD money, the price keeps dropping and none of my competitors want to drop the price. I still moonlight on the boats and keep my ticket if wood prices ever goes to shit but I got smart and built a brand new gas station local to where I live 3yrs ago, look at it as another piece of my retirement when i want to cash in and move to Florida someday.
Those are fuel prices I cant bitch about :joy: we go thru about 1-2k gal of diesel a week ourselves, sat down and did the math and it was a no brainer, you cant fight the guy who’s paying himself to fuel his own trucks / equipment.

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Hess charters 3 VLCCs to store shale oil:


Nothing sdaid about whether the VLCCs will wait in GoM, or steam off somewhere while awaiting sale and destination for their cargo.

There is hope, but you MAY have to wait until 2025 so see it:

This date…another big push back. Painful. Could it really take that long?

I think the smart traders bought up the cheap oil already. USA would do well to fill up the salt domes, but haven’t heard anything on that. Anybody?

Trump vowed to do so several weeks ago.

Missed that one in all the static lately.