[QUOTE=c.captain;177293]you do that but remember I have a lawyer too and because I am Joe Boss now my lawyer can beat up your lawyer with just his stink eye.
](http://s746.photobucket.com/user/robsaturley71/media/pic69_33_zpsfuphwhrh.jpg.html)[/IMG][/QUOTE]
My lawyer is already warming up her shovel to bury any pip squeak that shows up in a purple tie. You better bring your A game if you plan on beating her up.
The slump in demand for diesel in the US is partly because the Oil & Gas Industry use less to explore and produce, thus causing the price to fall: http://www.reuters.com/article/us-usa-drilling-kemp-idUSKCN0UR2FX20160113
They’ve been talking that way already:
. The energy subsidy of energy. Elon Musk says that it takes 5 Kwh of electricity to produce one gallon of gasoline, enough to power a Tesla S car 20 miles. Also we are at the point of global decoupling between FF use and economic activity. If I were in the GoM and looking for work I’d be screaming for offshore wind devolopment. (Even if the boats are ugly). Edit, http://www.albertaoilmagazine.com/2015/07/is-teslas-model-s-the-beginning-of-the-end-for-oil/
Iranians can reportedly pump oil for $2 per barrel, that is the bottom.
[QUOTE=seamanstan;177340]Iranians can reportedly pump oil for $2 per barrel, that is the bottom.[/QUOTE]
. Negative $.50 for sour… Oil Sold for -$0.50 per Barrel. A Negative Price! | OilPrice.com
really? Adam Sandler?
shows what a bunch of phucking morons Americans are who’ll pay real money to see a film with him in it!
Bobby Boucher: [Captain Insano and Jim Simmonds laugh]
[Bobby becomes enraged]
Bobby Boucher: Stop makin’ fun of me!
WTI closed at $28.46 today down .96
one year forecast is $32/bbl…the transportation industry in the USA is in green clover these days!
[QUOTE=seamanstan;177340]Iranians can reportedly pump oil for $2 per barrel, that is the bottom.[/QUOTE] But the question begs… can they pump enough of it. Balanced budget at $50/bbl at a certain capacity. Now divide 50/2 and you would have to multiply that certain capacity by 25 times to get their balance budget inflow of cash. I would seriously doubt they are sandbagging there total production by that much of a factor. If anything their capacity has shrunk by a lot.
[QUOTE=Ea$y Money;177417]But the question begs… can they pump enough of it. Balanced budget at $50/bbl at a certain capacity. Now divide 50/2 and you would have to multiply that certain capacity by 25 times to get their balance budget inflow of cash. I would seriously doubt they are sandbagging there total production by that much of a factor. If anything their capacity has shrunk by a lot.[/QUOTE]
you can pump it as fast as a well will flow but there aren’t nearly enough crude oil tankers in the world to carry it all before all your storage is overflowing. When it comes to nations which export, that is the limiting factor.
[QUOTE=seamanstan;177340]Iranians can reportedly pump oil for $2 per barrel, that is the bottom.[/QUOTE]
I just heard on the news today it costs Iran $12 per barrel, not $2…
According to Rygstad Energy the break even price for Iran is USD 12.60
Here is Rystad Energy’s list of production costs for the 20 largest oil-producing countries:
Kuwait – $8.50 a barrel
Saudi Arabia – $9.90
Iraq – $10.70
United Arab Emirates – $12.30
Iran – $12.60
Russia – $17.20
Algeria – $20.40
Venezuela – $23.50
Libya – $23.80
Kazakhstan – $27.80
Mexico – $29.10
China – $29.90
Nigeria – $31.60
Colombia – $35.30
Angola – $35.40
Norway – $36.10
United States – $36.20
Canada – $41.00
Brazil – $48.80
United Kingdom – $52.50
Production costs are a combination of capital and operating costs and are based on a survey of some 15,000 oil fields across the 20 countries.
From 24/7 Wall st.: http://247wallst.com/energy-economy/2015/11/24/us-cost-to-produce-oil-is-36-a-barrel/
The US market is down 400 points this morning and oil is down to $27.04.
Global markets are way off too. Oil is likely to fall further tomorrow when a report is released showing how much oil is in storage.
With cheap Iranian oil coming to market, we could see $20 oil within a few weeks.
So…good time to lift export ban or shouldn’t they have made a back room deal to wait until prices stabilized?
[QUOTE=c.captain;177376]really? Adam Sandler?
shows what a bunch of phucking morons Americans are who’ll pay real money to see a film with him in it![/QUOTE]
Yeah, I know. I could not find the clip of Lorne Green knocking out Bob Barker.
[QUOTE=c.captain;177452]here is a picture which will make a strong man weep
We are facing a cataclysm here…nothing less![/QUOTE]
The closing price today was less than $27
[QUOTE=tugsailor;177455]The closing price today was less than $27[/QUOTE]
yeah…that was from yesterday. it is the severity of the graph which I wanted to highlight