Current Oil Price

[ReserveGrowthRulz]

RGR, can you give me an idea of how much it costs to get one barrel of oil from ground to market ?

I am sorry, I cannot.

OK, I'll be surprised if anyone else can then.

Let me clarify. I didn't mean "I cannot" as in "I don't know, I meant "I cannot" because I once before gave myself away by mentioning current research and conferences I was involved with. Just as I gave myself away then, saying much beyond than I cannot engage in any level of conversation on this topic might do the same.

[Mark]

I see. In the UK we can be as obnoxious as we like without fear that someone will shoot at us.

Or sacked for telling the truth....

Coronavirus: US Navy removes Captain Brett Crozier who raised alarm
https://www.bbc.co.uk/news/world-us-canada-52145230

Reminds of the situation with the Chinese Doctor who discovered all this...
The US standards are little better....

[vtsnowedin]

I see. In the UK we can be as obnoxious as we like without fear that someone will shoot at us.

Or sacked for telling the truth....

Coronavirus: US Navy removes Captain Brett Crozier who raised alarm
https://www.bbc.co.uk/news/world-us-canada-52145230

Reminds of the situation with the Chinese Doctor who discovered all this...
The US standards are little better....

Yes and it can be that he was not relieved for taking care of the crew but for making it public and revealing a weakness to our enemies. Whatever needs to be done for the crew (not an old infirm bunch to begin with)it should have been done in secret.

[kenneal - lagger]

............. Trump embarrasses himself at every press conference. ......

He's too thick to do that and non of his minions dare to tell him for fear of losing their jobs. He just embarrasses any of the American people not too thick to realise how thick and embarrassing Trump really is. He is the lowest common denominator.

[ReserveGrowthRulz]

That error didn't do you any harm - only two people worked out your identity .. and I didn't reveal it whilst the other guy wasn't 100% sure.

Indeed, that error didn't do me any harm. Thank you for not broadcasting it around the interwebs.

And even my own previous error did me no harm.However, that was as much a result of armed security as anything else.

In either case, I made a rule a long time ago, and continue to live by it.

True story...a couple of years ago, someone thought they knew who I was. Again, I had mentioned a national conference I was involved with, they verified I was actually there by using my IP address to track my drive back and forth to Houston, then they scraped all the attendees from the conference webpages, as well as another I had mentioned my attendance at.

They then cross referenced the two for common names (there were fewer than even I would have thought, as I replicated their technique to see how effective it was during this process), eliminated obvious non-candidates by age and expertise, searched LinkedIn accounts, and presto...with great fanfare announced what they thought was my alma mater and year of graduation, name, resume, photos of me during presentations, and began passing around those presentations and published work.

This went on for a year. I found it to be great fun. I even traveled to meet them when they were trying to sell an Amish tourist park to local South Carolina businessmen and whatnot, threw a big shindig, booze and barbecue for everyone! It was interesting to meet some of the doomer set in person.

So sure...I haven't been harmed even by morons intent on doing so...but the need for caution still exists. These particularly dullard American based peak oilers not having your sense of decency.

Again, thank you for that.

[adam2]

Please keep on the topic of oil prices.
I have deleted numerous posts that consisted of
Personal insults, or quotes thereof and replies thereto
Views as to the effectiveness of the US President.
The merits of aircraft carriers.
Armed security guards.
And the inevitable firearms posts.

[PS_RalphW]

Opec and Russia agree a 10% production cut, the biggest cut in history. It may not be enough to match the fall in demand.

[ReserveGrowthRulz]

Opec and Russia agree a 10% production cut, the biggest cut in history. It may not be enough to match the fall in demand.

Probably not. EIA STEO from 5 days ago puts the demand drop higher than 10% of reduced OPEC and Russia combined, looks to be 12 million a day in total liquids.

[PS_RalphW]

Oil price dropping again. Either the market has decided the cuts will be too little for current demand, or that future demand will be even lower. I suspect both is true.

[clv101]

I think that's it. Peak oil was Nov 2018.

[ReserveGrowthRulz]

I think that's it. Peak oil was Nov 2018.

FINALLY!!!! Now we can forget about it and the looney tunes since it was first declared by Colin Campbell in 1990 and get with enjoying the $1.30/gallon gasoline it has delivered as of late!

[ReserveGrowthRulz]

Oil price dropping again. Either the market has decided the cuts will be too little for current demand, or that future demand will be even lower. I suspect both is true.

The TRRC ran a meeting all day today, the consensus appears to be more than a little of both.

[PS_RalphW]

WTI now $18.30. Brent doing a bit better at 28. At these prices a lot of US smaller oil companies will go broke very quickly

[ReserveGrowthRulz]

WTI now $18.30. Brent doing a bit better at 28. At these prices a lot of US smaller oil companies will go broke very quickly

Yup. The good news? The oil and gas they have accessed via wellbore will be there, ready to go under new ownership, as soon as prices recover.

The cure to low oil prices....low oil prices. Thank god for the almighty consumer!

[UndercoverElephant]

https://www.bloomberg.com/news/articles ... wn-with-it