Oil on the (downward slide) upward climb...

Tony, not much more I can add to that, he said it well...
 
WTI 61.98 this morning.

OK, so maybe the $75 per barrel resistance level was a bit off.
 
Takes awhile for consumption to take off after free fall like this , so the candy ass speculators bail then there's no support what so ever other than those who have hedged...
 
People that have been in the business and have seen it before. That's why we have been fixing these injection wells and other pricey projects.....because we could. And when it's time to batten down the hatches we do that as well as anybody. In fact for the first time in history Marlin oil had 5 cranes out on contract jobs all manned by our people.,...the 75 ton, the 60, the 50 the 40 and the ol red 30......it was a good day. Did't get too much done on our wells, but made some money and our wells will be there tomorrow, and yes.....the old man(me) was out running the 40 ton...
 
laatsch55 said:
People that have been in the business and have seen it before. That's why we have been fixing these injection wells and other pricey projects.....because we could. And when it's time to batten down the hatches we do that as well as anybody. In fact for the first time in history Marlin oil had 5 cranes out on contract jobs all manned by our people.,...the 75 ton, the 60, the 50 the 40 and the ol red 30......it was a good day. Did't get too much done on our wells, but made some money and our wells will be there tomorrow, and yes.....the old man(me) was out running the 40 ton...
Click to expand...

Yes, I believe supply and demand works Lee. And we know the demand will be there to support the supply.
 
laatsch55 said:
People that have been in the business and have seen it before. That's why we have been fixing these injection wells and other pricey projects.....because we could. And when it's time to batten down the hatches we do that as well as anybody. In fact for the first time in history Marlin oil had 5 cranes out on contract jobs all manned by our people.,...the 75 ton, the 60, the 50 the 40 and the ol red 30......it was a good day. Did't get too much done on our wells, but made some money and our wells will be there tomorrow, and yes.....the old man(me) was out running the 40 ton...
Click to expand...

Getting close to being a good time to buy oil stocks :-)
 
Gasoline prices are now lower nearby to where I work as opposed to where I routinely go, closer to home.
"My" station is hanging on to $2.75 but I suspect they will catch up fast over the course of the next week.
Stations in and around the work zone are now as low as $2.59, which I think is below national average.

January WTI is bumping along, just above $57 a barrel today.
 
Less than a dollar a litre around here. Havent seen em this low in years. While I remember 60 to 70 cents a litre, its only been climbing since, and while it was going up real heavily, we would see more dramatic decreases. Its nice to see it down low again. I use a lot of fuel in the summer, hope it last a little while. Will make next summer's trips up north a lot more friendly on the pocket. Could even buy more beer with all the savings.
 
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When the 1973 embargo happened I remember 65 cents a GALLON, not liter, and I think it was closer to 40-48 cents for higher grades prior to that, but in all honesty I was only SEVEN.

I remember because my dad was a mechanic at an Amoco (a former UTOCO way back in the days) station in Nampa, Idaho...and because the higher prices marked the first time people really got stingy about REPAIRS as well. DOUBLE WHAMMY.

Self-service pumps did take some of the sting out of it but there was a STINKER STATION a block down and they were the low cost gas kings in the state back then ('Fearless' Farris, the founder, was so famous for low gas prices that the legend says one dealer called him a 'Stinker' and the name of the company was born, along with it's skunk with a red clown nose).

It wasn't as if the gas was bad, it's been Sinclair (a Salt Lake City, Utah company) gas for many, many years. There are many Sinclair stations not owned by Stinker in our valley as well. And the two main companies that formed the Amoco brand were Standard Oil (Illinois) and American Oil Co. (American Oil bought out the Sinclair Pipeline interests, which later was spun off as Service Pipeline Company), and a related company, Stanolind Oil Company, invented hydraulic fracturing that is mighty important to a few people you might know...
 
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You know how those WHIZZER tanks are...the huge soda cups hold more.
 
Lee, the proposed pipeline in South Dakota, will you be able to take advantage of it?

Jim
 
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