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Oil Hits $5 a Barrel

Discussion in 'GatorNana's Too Hot for Swamp Gas' started by chemgator, Mar 28, 2020.

  1. chemgator

    chemgator GC Hall of Fame

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    This is pretty crazy.

    Oil hits US$5. Why pumps will stay open if prices turn negative

    Apparently, there is a chance it could go negative.
     
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  2. LouisvilleGator

    LouisvilleGator GC Hall of Fame

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    30 years from now.. “Son, back in my day we had gasoline prices of -20 cents a gallon. This world’s gone crazy.”
     
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  3. Gator515151

    Gator515151 GC Hall of Fame

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    For those who weren't around for the gas shortage of 73 we got a lot of free gasoline back then.....Of course you had to have a siphon hose and a 5 gallon can then stay up past midnight.
     
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  4. demosthenes

    demosthenes Premium Member

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  5. AgingGator

    AgingGator GC Hall of Fame

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    My buddies and I financed a lot of Sunday beach trips in the 70s with siphon hoses
     
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  6. Gatorhead

    Gatorhead GC Hall of Fame

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    I haven't seen the Oil Industry crash and burn this quickly in my 60 years of life. $21.00 for Texas crude is like Gold at $500.00 an Ounce.
     
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  7. Gatorhead

    Gatorhead GC Hall of Fame

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    AARAMCO has a target price of $70.00 to be profitable.
    As far as gas prices (I live on the Mainline - West of Philly)
    still hovering anywhere from $2.35 - $2.50
     
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  8. eastowest

    eastowest GC Hall of Fame

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    [​IMG]
     
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  9. chemgator

    chemgator GC Hall of Fame

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    I don't know if it's still true or not, but the Saudis could get oil out of the ground for $1 a barrel.
     
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  10. Gatorhead

    Gatorhead GC Hall of Fame

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    I agree they probably can, because they have spent "TRILLIONS" to be able to do that. AARAMCO's pumping, delivery and transport technologies, taken together, are perhaps the most sophisticated on the planet. That's why they need the $70.00 a barrel.

    60 minutes did a spot on AARAMCO a few years ago. When it comes to Petroleum Technologies, AARAMCO works closely with the cutting edge scientists in the West and the rest of the world.
     
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  11. cluckugator

    cluckugator VIP Member

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    $10 a barrel (minus the massive CapEx to establish the site) which is a sunk cost once up and running. $1 isn’t true.
     
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  12. chemgator

    chemgator GC Hall of Fame

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    Oklahoma was recently at $1.20, north Florida at $1.90 or so.
     
  13. citygator

    citygator Premium Member

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    How do I buy 100,000 barrels and sell them in 2 years? :)
     
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  14. GatorJMDZ

    GatorJMDZ gatorjack VIP Member

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    Or refine your own gasoline.

    Gas should be WAY cheaper based on the current oil prices.
     
  15. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Shouldn't be hard, since they will be paying you to take it before long!
     
  16. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    So how long can gas sit uncovered in the back of a tarped off Dodge Dakota?
    Asking for a friend.
     
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  17. nobbqsauce

    nobbqsauce All American

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    I know nothing...just asking
    But is this a case where the vertical monopoly that many gas/oil companies have comes back to bite them?
     
  18. G8trGr8t

    G8trGr8t Premium Member

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    they need $70 to fund their social programs that keep the nation from revolting over the wealth disparity. Closer to $3 - $5 to extract and get to market for both KSA and Russia

    https://www.washingtonpost.com/busi...9505da-6693-11ea-8a8e-5c5336b32760_story.html

    [​IMG]
     
  19. intimigator1

    intimigator1 GC Hall of Fame

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    people laugh but I learned how to siphon gas then because my 69 Cutlass had to have it so the owner could have the girls. Serious business my friends. lol
     
  20. G8trGr8t

    G8trGr8t Premium Member

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    the model isn't the same anymore. not many producers refine, not many refiners distribute, not many distributors sell
    joe pumps
    fred refines
    Charlie distributes with franchises
    Raul sells it at his store with the franchise sign out front