Oil and Gas The Party’s Over

Looking at the Oil and Natural Gas markets today it looks like a blood bath
WTI
$30.80 down 26%
Nat Gas $1.64 down 4.33%
Saudis going to pump 10 million bbls a day to depress prices even more maybe below $20.00
Trump loves it all he sees is cheap gasoline who cares about anything else workers,royalty owners,landowners etc
Well I think this time the chickens are coming home to roost
Try to talk the market up some more
Cut interest rates quick

Views: 4772

▶ Reply to This

Replies to This Discussion

Permalink Reply by Ralph cramdon on March 12, 2020 at 8:05am

Time to BUY , when others are RUNNING AWAY 

Permalink Reply by william Allen. Ladd on March 13, 2020 at 1:16am

Probably a great idea Ralph.  Might have to wait awhile til the price comes back up again...…………."BUY LOW and SELL HIGH" is the rule to follow!        

Granddad Ladd

Permalink Reply by shakeshale on March 14, 2020 at 5:29am
Buy what for what ?
Permalink Reply by Ralph cramdon on March 16, 2020 at 8:08am

Attention OIL shoppers .... 

 

CNQ on sale today , aisle #1 .........

Permalink Reply by shakeshale on March 19, 2020 at 8:05am

The prices are lower today then when the thread started

Nobody is eager to buy a bunch of non  producing worthless minerals right now 

Permalink Reply by william Allen. Ladd on March 22, 2020 at 3:07am

Of course no one is willing to buy what is considered "worthless minerals".  But the value will certainly come back up again. Just how long are you willing to wait? 

Granddad Ladd

Permalink Reply by Dan on March 22, 2020 at 12:50pm

Exactly

Permalink Reply by Jim Litwinowicz on March 24, 2020 at 7:21am

Problem is that many of these will go bankrupt and the stockholders lose it all.  Need to decide which ones will survive or bought/merged.  And some won't be bought up until after bankruptcy so stock holders will be left out.

Permalink Reply by william Allen. Ladd on March 23, 2020 at 3:32am

And what are you willing to do?

Granddad Ladd

Permalink Reply by william Allen. Ladd on March 23, 2020 at 3:33am

Well Shakeshale,  If I can buy toilet paper yesterday for $3 or $4 a package and sell it to you for $10.00 tomorrow, Well, Why Not?  Even Gas and Oil workers use these products.  But there are alternatives if you are smart enough to use them.  

Oil and gas have great possibilities! But until the industry money men get off of their collective butts and quit worrying about how to squeeze every last penny out of civilization and look for new products that can be made from oil and gas. 

During the second world war a substitute material was found for tires.  And even today the food industry is making products from other substances to resemble meat.  Not as tasty maybe, but passable.

Put you brains to work and find suitable answers!  

How do you think that the very machine you are reading from right now came to be?  At Bell Labs a discovery was made that just about turned the communication upside down.   A simple experiment, a chrystal was discovered that could be made to take the place of vacuum tubes.  This was in 1946 as I recall. 

What is to prevent the oil and gas industry from doing something similar?

Granddad Ladd

Permalink Reply by shakeshale on April 20, 2020 at 10:23pm
Well Grandad Ladd
How about minus $37.63 per bbl ?
Can’t recall last time I remember oil going negative
Oh I guess it’s because it’s never happened in the history of oil and gas
That’s saying something
Permalink Reply by Dan on April 20, 2020 at 10:57pm

Saw on the news that 20 million bbl are stuck in take away and transit with storage filled to capacity.  NG is getting a bump from this though.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service