Oil prices nosedive

[gearhead]

Putin cuts price and Saudi's increase production. WTI $30 a barrel. Dow futures down 1,100 points.
But hey, gasoline prices will go down.
Everybody happy now??
https://www.cnbc.com/2020/03/08/dow-...us-stress.html

[JRTJH]

Diesel dropped from 2.799 to 2.499 this week. Regular unleaded dropped from 2.379 to 1.989... Just because we bought a new "fuel efficient car" the prices go down.... Can't wait to fill the boat, but it's too early, all the lakes are still "hard as a rock on top"....

[gearhead]

haha. Same thing happened to me. Traded an almost new 1979 Pontiac Trans-Am in on a VW Scirocco. Prices went back down and we bought a Buick station wagon with plywood on the side.

[+Ruff Rider]

Diesel here in the Great Tax State of California hasn't budged one cent.

[fatcatzzz]

$2.34 here in Swansboro NC.

[gearhead]

Stock market is down to "stop limits". I think I saw RBOB gasoline at $1.15 last night. I imagine valves are being closed this week. Saudi lift cost is $4, shale is $40. Shale drillers will not be able to pay loans and will go broke. Big Layoffs.
Throw in Corona virus...
Globalists.

[+Ruff Rider]

Cruise ships have always been a place where one person gets sick and since you are on there for a week more people will get sick. I did one cruise to Alaska and had a great time but seems like more people catch something on them. Usually some kind of food poisoning. Now it's the flu. They have these poor people stuck in a ship off the coast and you should hear what people are saying. It's doomsday. Guys tying up the ship need special training. Don't let those people off in out city. The media has succeeded on scaring the public. Only 21 people have the virus out of 1,500 (guess) passengers. People are in a panic. I don't get the water and toilet paper thingy. I went to Costco the other day and had to laugh. Carts full of nothing but water and toilet paper. They are also buying every bottles of sanitizer they can carry. You cant find a dust mask anywhere LOL I am glad they don't release the names of these people who are sick. Business here are hurting. The media has riled up the crowd and people don't eat out much. It's just nuts.
Just wash your hands and you will be fine. If you are old as some of us are and have a medical condition It would be wise to stay on the down low but I am going to live like it's 1995. LOL

[gearhead]

Yeah I'm thinking media is responsible for this panic. After all there is an election soon. Things were rolling along pretty well.
We're undecided about being in crowds. We have tickets and a RV spot for the Richmond NASCAR race next month. Not sure about it. We had plans for other things to do in the area so we will likely make the trip but decide on the race later.

[+Ruff Rider]

Originally Posted by gearhead

Yeah I'm thinking media is responsible for this panic. After all there is an election soon. Things were rolling along pretty well.
We're undecided about being in crowds. We have tickets and a RV spot for the Richmond NASCAR race next month. Not sure about it. We had plans for other things to do in the area so we will likely make the trip but decide on the race later.

It would be hard for me to pass on a race at Richmond. Go and have a good time.

[+Ruff Rider]

This is funny OPEC and Russia wouldn't play nice with each other. Saudi Arabia said if you don't want to cut production than we will increase ours. I guess the stock market doesn't like none of this. I sure hope the dust clears soon so we can start making money again.

[Old Mustanger]

Originally Posted by +Ruff Rider

This is funny OPEC and Russia wouldn't play nice with each other. Saudi Arabia said if you don't want to cut production than we will increase ours. I guess the stock market doesn't like none of this. I sure hope the dust clears soon so we can start making money again.

Yea, if this keeps up I may have to go back to work!

[sourdough]

Come on guys! Worried about oil? Just had "my guy" put 2M into face masks and toilet paper...!! Oil? Ha!

[flybouy]

Originally Posted by sourdough

Come on guys! Worried about oil? Just had "my guy" put 2M into face masks and toilet paper...!! Oil? Ha!

Better "dump" that stock (pun intended) the day they come out with an immunization. Folks will have enough stock piled that sales will "bottom" out (I know, I know) for months.

[ctbruce]

So I was thinking. I know, this will be my biggest mistake. (Thanks Dad for driving this point home. RIP.) We want electric cars because they are clean and renewable. But the batteries take a lot of fossil fuel to produce and they can't be recycled. So just a different pollution. So we build a lot of windmills which are clean and renewable. But they have to be delivered by trucks which use fossil fuels and the turbines wear out. There is not a way to run the turbine generated electricity strictly to the electric cars. So that doesn't work either.

For now at least, I would hold onto my oil holdings. This is going to take a while.

[flybouy]

Chip, haven;'t you installed your's yet?

[ctbruce]

Originally Posted by flybouy

Chip, haven;'t you installed your's yet?

Mine's portable and looks like this:

[flybouy]

Does that come in a twin rotor configuration? I need a bit more payload these days.

[CrazyCain]

My car to and from work (40 miles) and around town is a Ford Hybrid. Gas around here is a buck ninety nine, From empty it will take a bit $25.00 to fill it. That full tank of gas will last me at least 2 weeks..I'll take the lower price..

[travelin texans]

The sky is falling, the sky is falling,!!!!!. The end is near!

[chuckster57]

Only if you look UP.

The end: http://hmpg.net