Current Events > Oil is now $10 a barrel

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REMercsChamp
04/20/20 8:10:50 AM
#1:


And soon they'll be paying people to take oil from them because they have nowhere to store it

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Rika_Furude
04/20/20 8:16:03 AM
#2:


Yet the petrol prices are as high as ever

will be moving to electric as soon as I can afford it

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sinners_demise
04/20/20 8:18:12 AM
#3:


Rika_Furude posted...
Yet the petrol prices are as high as ever

will be moving to electric as soon as I can afford it

Where you at? Gas is cheap af here in the states
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Rika_Furude
04/20/20 8:19:06 AM
#4:


sinners_demise posted...
Where you at? Gas is cheap af here in the states
Australia

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The Trent
04/20/20 8:42:49 AM
#5:


Dark times

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DiegoSanchez206
04/20/20 8:49:43 AM
#6:


Rika_Furude posted...
Yet the petrol prices are as high as ever

will be moving to electric as soon as I can afford it
I havent seen them this low since I was a small child.

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Ultima Dragon
04/20/20 8:50:57 AM
#7:


DiegoSanchez206 posted...
I havent seen them this low since I was a small child.

Same, but I feel like they should be even lower than what they are now. Maybe even considerably so. It seems to have capped out though.

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Jagr_68
04/20/20 8:51:49 AM
#8:


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voldothegr8
04/20/20 8:52:24 AM
#9:


When I first started driving gas was just under a buck. I never thought I'd see it that low again but it might actually happen.
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sinners_demise
04/20/20 9:01:43 AM
#10:


voldothegr8 posted...
When I first started driving gas was just under a buck. I never thought I'd see it that low again but it might actually happen.

Thats nuts. Think gas was over $4 when I got my license lol
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yunalenne10
04/20/20 9:03:18 AM
#11:


Jagr_68 posted...
Hmmmmmm idea!

Wild Card, CE!

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Hexenherz
04/20/20 9:03:52 AM
#12:


Gas prices in my area: $1.70 a gallon; it was like $3.30 before this.

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The Trent
04/20/20 9:04:48 AM
#13:


don't worry, it's very likely the price of WTI drops to 0 as all of our capacity reaches limit and there's nowhere to put new production

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DevsBro
04/20/20 9:05:44 AM
#14:


Hey maybe this impact on the crude oil industry will lead to that much-needed change in American transporta--pfft, sorry I couldn't finish it with a straight face.

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DarthWendy
04/20/20 9:10:37 AM
#15:


Under that "disagreement" disguise, the Saudis and Russians are playing the US shale oil like a damn fiddle, and basically de facto eliminating one of the 3 major oil actors from the game.


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Dat_Cracka_Jax
04/20/20 9:10:58 AM
#16:


For some reason the price hasn't dropped a ton where i am in st Louis. Last i saw it was 1.70

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Tired-Insomniac
04/20/20 9:13:42 AM
#17:


The gas station near my house was at $1.59 a gallon this morning.

I don't recall it ever being this low since I started driving about 12 years ago.

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Alucard188
04/20/20 9:19:40 AM
#18:


I like how crude oil is at a historically low amount, but gas prices are still 35% higher than they were back in the 90s.

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scorpion41
04/20/20 9:20:28 AM
#19:


Gas in my area has dropped to 1.30 in most places.

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The Trent
04/20/20 9:20:44 AM
#20:


DarthWendy posted...
Under that "disagreement" disguise, the Saudis and Russians are playing the US shale oil like a damn fiddle, and basically de facto eliminating one of the 3 major oil actors from the game.

except it's just going to crop right back up when the price returns to ~40
they're not killing shale, they're just sending it on vacation for awhile

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EndOfDiscOne
04/20/20 9:23:53 AM
#21:


Thanks Trump

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DevsBro
04/20/20 9:23:59 AM
#22:


Alucard188 posted...
I like how crude oil is at a historically low amount, but gas prices are still 35% higher than they were back in the 90s.
It's a common misconception that cost of production correlates directly to sale price. Sale prices is driven mostly by supply/demand, with cost of production more affecting whether it even happens.

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The Trent
04/20/20 9:24:57 AM
#23:


pump price has things like tax built into it so even though price for a the actual oil goes down, tax is static

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DevsBro
04/20/20 9:30:36 AM
#24:


The Trent posted...
pump price has things like tax built into it so even though price for a the actual oil goes down, tax is static
And taxes, yeah.

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DarkFists
04/20/20 9:33:30 AM
#25:


sinners_demise posted...
Where you at? Gas is cheap af here in the states
Haha yeah, it's $1.73 a gallon where I live...it's kinda nuts

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REMercsChamp
04/20/20 9:58:38 AM
#26:


I was scared to check my oil stocks this morning but it looks like they barely dropped at all

NWO and the Illuminati may be involved

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Makeveli_lives
04/20/20 10:06:19 AM
#27:


Dat_Cracka_Jax posted...
For some reason the price hasn't dropped a ton where i am in st Louis. Last i saw it was 1.70
Go to Costco and get gas. Jersey has some of the highest prices in the nation and they're selling for 1.60while everywhere else is like 1.90

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SpriteLimit
04/20/20 10:37:28 AM
#28:


Damn gas was $0.95 last time I filled up.

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AngelsNAirwav3s
04/20/20 10:39:20 AM
#29:


I shorted the shit out of oil companies on Friday too, and we have the worst drop in oil history.

Yet somehow oil stocks are only down like 2%, what in the actual fuck

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#30
Post #30 was unavailable or deleted.
REMercsChamp
04/20/20 10:41:20 AM
#31:


AngelsNAirwav3s posted...
I shorted the shit out of oil companies on Friday too, and we have the worst drop in oil history.

Yet somehow oil stocks are only down like 2%, what in the actual fuck
Yes we know you've told us. You shorted at all the right moments, bought at very bottom before prices started going up etc you're basically a fortune teller man

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REMercsChamp
04/20/20 11:21:18 AM
#32:


one of my oil stocks actually just went in the green today LOL

sold that piece of shit immediately

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Solid Sonic
04/20/20 11:22:30 AM
#33:


Rika_Furude posted...
Yet the petrol prices are as high as ever

They're like $1.89/gal. here. I haven't seen it that low in over 10 years.

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The Trent
04/20/20 11:24:16 AM
#34:


REMercsChamp posted...
one of my oil stocks actually just went in the green today LOL

sold that piece of shit immediately

which one

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REMercsChamp
04/20/20 11:26:06 AM
#35:


The Trent posted...
which one
It's Canadian oil and gas stock

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coolpal23
04/20/20 11:27:48 AM
#36:


Gas right here in danville virginia is like 1.20 a gallon

I remember when gas was like 4.90/5.00 a gallon

this is nuts

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thanosibe
04/20/20 11:27:49 AM
#37:


Oil will come back around and so will drilling. Which then will uptick the price of gas. The US will not only never stop drilling for oil, as long as it's profitable, there is also more drilling domestically done for CNG than crude oil. A much better fuel source, that a lot of fleet companies, trucking outfits, and city maintenance, police, and other vehicles are/have been converted too.

Plus it is an election year. And with things not seeming to be a sure thing for everyone, the oil & gas industry always slows down around election time. It did back in 2008 with the election of Obama. The oil & gas industry is mostly conservative and they still tend to think, despite their industry flourishing during Obama's 8 years, that democratic, liberal candidates won't support them. So they slow things back, stack rigs out and wait to see what happens. Early to the end of the first quarter of 2021 I expect drilling for oil & CNG will be back up. And with it the cost of oil per barrel and gas per gallon.

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Butterfiles
04/20/20 2:11:07 PM
#38:


Jagr_68 posted...
Hmmmmmm idea!

Hells yeah we wanna fill you up, if'n you were so inclined as to let us !

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Middle hope
04/20/20 2:16:13 PM
#39:


Dont gas taxes set a minimum base line for gas prices?

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Hornezz
04/20/20 2:18:22 PM
#40:


Whew it just hit $0.01

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REMercsChamp
04/20/20 2:19:41 PM
#41:


Rofl. It's literally fucking worthless.

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OpenShut
04/20/20 2:20:37 PM
#42:


REMercsChamp posted...
Rofl. It's literally fucking worthless.
So are we at the point where the barrel itself is literally worth more than the oil inside?
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Pepys Monster
04/20/20 2:21:00 PM
#43:


Why is gas where I live never below $3?

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REMercsChamp
04/20/20 2:21:23 PM
#44:


Yes. They'll be paying people to take it from them soon.

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yunalenne10
04/20/20 2:27:40 PM
#45:


Uhh, seriously, is it time to buy oil stock?

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REMercsChamp
04/20/20 2:28:03 PM
#46:


I'd be careful. Some of these companies might not survive or not recover for a long long time.

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Complete_Idi0t
04/20/20 2:29:02 PM
#47:


How much is in a barrel of oil anyway? I bet the companies are making really small barrels now to claim the price went down
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scorpion41
04/20/20 2:29:59 PM
#48:


Just put 12 gallons for $16. I feel bad for my friends in the oil field, but I love using a $20 bill for gas and a coke like when I first started driving.

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CruelBuffalo
04/20/20 2:31:20 PM
#49:


Texas economy must be looking amazing lol
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REMercsChamp
04/20/20 3:08:26 PM
#50:


Oil is now in the NEGATIVES

-$20

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