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so a lot of people have been talking about Cushing, Oklahoma and this Dario guy, who people seem to respect as a big brain nigga, says 22nd of June is the date when we finally find out, when the markets finally finally find out theres no more oya-all.
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Nothing happens you retard 🤨
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but that wont happen i dont think unless oil prices go wild...
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japan and us monetary authorities both announce their rates this week also and the us should be giving its projections...japan is expected to tighten...us is not expected to cut rates...
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im hoping the US raises rates and destroys the economy...
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come back to us and explain nothing ever happens when you're paying $8 a gallon for gas
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Yeah that’s the only effect when gas goes up to $8+ a gallon. Surely it will just be your personal commute that’s affected and not national supply chains and demand curves shaped by consumers outside of a region or country. Orange juice is going to $15 a gallon if you can even get it at all outside of frozen concentrate shipped by train.
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@Terry @Dudebro @Frondeur oh no I might have to spend $60 more a month on gas better start lighting Walgreens on fire
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we have months of oil left in the strategic petroleum reserve afaik...not too worried about above ground market inventories just yet...
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@BowsacNoodle @Dudebro @Frondeur @Terry yeah again people will just cope and change their habits when prices go up, see: covid
Call me when there’s widespread shortages and you’ve gotta start waitlisting or shooting groids to get basic supplies, until then nothing will happen
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We have like two weeks inventory left in that. They’re not going to take it to zero. They will start halving the release amounts soon and prices will adjust pretty quickly since energy and shipping cost is the leading driver of ppi/cpi.
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I am not a doomer. I am far from it, to the point where I regularly am called naive by people here (who often have less understanding or life experience than me), and the short term of this will suck. Even if it was an actual true ceasefire war end today, we are still looking at two or more years of impact to petrochemicals and agriculture. Shit is going to suck for a while. And the ceasefire isn’t real and we’re still stuck in liars limbo burning credible for any sort of nationalism (we get it, but media lies) Trump does his bullshit.
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@Frondeur @Dudebro @BowsacNoodle @Terry if Trump wasn’t a fucking retard I’d consider this 26D chess to fuck China, Russia and Europe all in one blow especially with the de facto repatriation of all of Venezuela’s capacity
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i think there's 2-3 months last i checked...but that was based on random stuff i read online...
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You’re right. I was mixing up domestic stock vs strategic reserve.
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You’re right on that one. There are thousands of temporarily embarrassed oil wells waiting to be uncapped. Big Fracking Bill when.
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@Frondeur @Dudebro @BowsacNoodle @Terry At least for US shale all the infra is there in mothball, they could start it up practically overnight but that’d cut into profits which are more important to oil execs than your comfort
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@Frondeur @Dudebro @BowsacNoodle @Terry if the Red Sea was fucked, USG would just give chevron a blank check to rape the Venezuelan fields and start fracking again and we’d be fine
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yeah...probably not gonna happen overnight...
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if the red sea/arabian pipeline got completely shut off...i think we'd be in the one to two weeks territory...
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im confused honestly...i didnt realize we had stopped us shale or fracking....
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They paused most of them because fracking is causing problems and lawsuits and the juice wasn’t worth the squeeze without hydrofracking to push up more yield.
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@Frondeur @Dudebro @BowsacNoodle @Terry yeah it’s shit oil so it’s only worth extracting when prices are ~80 a barrel or more, cheaper to import the easy to refine stuff from the Middle East
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@BowsacNoodle @Dudebro @Frondeur @Terry yeah but “shit sucks” ratchets hard when we have practically unlimited domestic oil that’s profitable at $100 a barrel that they could turn on in a relative instant.
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i dont know man...i feel like we are all getting different info...my understanding is that us shale production is still near or at record highs and fracking is most of that....
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@Frondeur @Dudebro @BowsacNoodle @Terry and we’re still not touching most of our potential and that’s not even including oil we could touch but aren’t due to international concerns (Venezuelan oil which only we have the infra to refine) or local ones (twice our current reserves exist in various national parks)
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@sapphire @Dudebro @BowsacNoodle @Frondeur @Terry
Gentlemen, I used to work offshore in the Gulf in 2005. There is so much oil and gas production just off that shore alone that Beaumont, Texas could supply America and Europe by itself...
Don't forget about Prudhoe Bay, Alaska. There's enough oil and gas up there to supply America at current consumption for 500 years.
Then I drove long haul truck with oil gas pipe for years into Colorado and North Dakota.
The entire continent is plumbed with pipe...
The oil price per barrel is one of the most manipulated and controlled commodities in the world...
It's completely jewed. If you think you are gonna make money betting on oil futures, you'd be better off being friends with a jew that works at Exxon corporate who can dish you insider trading...
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@Frondeur @Dudebro @BowsacNoodle @Terry my guess with this new ceasefire, assuming israel can keep it in their pants for 4 more days, is Iran and their allies realized that this is peak crunch, either America is going to release American oil exclusively to our allies or logistics and financial support for gulf countries to bypass Hormuz (or likely both) and this is their last chance to get in there before China and Russia really start feeling the crunch, especially with Russian refining getting hit so hard by the ukes this year
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i see what you are saying...
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The ability to refine and use domestic oil is partially restricted by one party’s willingness to sabotage our country (Orangeman bad) under premise of protecting the weather
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@BowsacNoodle @Dudebro @Frondeur @Terry @sapphire
Yeah it’s some kind of jewish oil family infighting on a global scale. It’s like they take turns fucking the global population with oil shortages…
Terry
Dudebro
Frondeur
BowserNoodle ☦️
sapphire
Jonny
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