Oil Companies $40 Oil

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No matter the cost of oil it’s more about the margins.

“The gross refining margin GRM is the difference between the total value of petroleum products coming out of an oil refinery (output) and the price of the raw material, (input) which is crude oil. The margins are calculated on a per-barrel basis. ..“

This goes back to the 3-2-1 crack spread

The 3:2:1 crack spread approximates the product yield at a typical U.S. refinery: for every three barrels of crude oil the refinery processes, it makes two barrels of gasoline and one barrel of distillate fuel. ... Finally, divide the result by 3 to produce a crack spread in dollars per barrel.
This does not include operating cost from well to pump.
 
Caustic Burno said:
No matter the cost of oil it’s more about the margins.

“The gross refining margin GRM is the difference between the total value of petroleum products coming out of an oil refinery (output) and the price of the raw material, (input) which is crude oil. The margins are calculated on a per-barrel basis. ..“
Click to expand...

Oil companies keep hoping for $100 per barrel of oil and we cow raisers keep hoping for $2.50 a lb calves. As my mother said to me many times wish in one hand and spit in the other and see which fills the fastest.
 
we could see a spike in oil. A lot of production capacity has been turned off. Some may be gone for a while.
 
shaz said:
we could see a spike in oil. A lot of production capacity has been turned off. Some may be gone for a while.
Click to expand...

Didn't Bozo Biden promise to shut down the U.S. oil industry altogether? No more fracking, no more drilling....no more jobs.
 
TennesseeTuxedo said:
shaz said:
we could see a spike in oil. A lot of production capacity has been turned off. Some may be gone for a while.
Click to expand...

Didn't Bozo Biden promise to shut down the U.S. oil industry altogether? No more fracking, no more drilling....no more jobs.
Click to expand...

Yeah, then he drooled and loaded his diaper...
 
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They have opened the wells back up.

Oil companies actually dont want $100 oil because they know $50 oil is not far away. If I remember correctly around $80 is the sweet spot for the producer and consumer.

$40 and $50 oil isn't good for the producer. It's just delaying the inevitable. If it wasn't for the banks having so much exposure to O&G and propping them up most these companies would be done.
 
shaz said:
TennesseeTuxedo said:
shaz said:
we could see a spike in oil. A lot of production capacity has been turned off. Some may be gone for a while.
Click to expand...

Didn't Bozo Biden promise to shut down the U.S. oil industry altogether? No more fracking, no more drilling....no more jobs.
Click to expand...

Yeah, then he drooled and loaded his diaper...
Click to expand...

https://m.youtube.com/watch?v=91ohifzjk1M

“The pandemic is that the President has no intercourse with the rest of the world.....”

Wait a minute. What? Say that again? Yep. He did. Pretty sure Trump has a different interpretation for the word Intercourse!

Former Vice President Joe Biden said "intercourse" again while discussing President Donald Trump's response to the coronavirus.

During an interview with MSNBC's "Morning Joe" on Friday, Biden said, "The pandemic is the president has no intercourse whatsoever with the rest of the world on dealing with these things."

Biden used the same term on Monday in an interview with CBS4 Miami, when he was asked if he would restore funding to the World Health Organization if he were elected.

He said, "If, in fact, for example, we solve the problem in the United States of America and you don’t solve it in other parts of the world, you know what's going to happen. You're going to have travel bans, you’re going to not be able to do, have economic intercourse around the world."
 
I'm starting to feel sorry for that man. We had a guy like that at work. He was fine sitting in the office telling war stories but keep him out of the field and away from the public. The worse part was people thought they were being nice propping him up and telling him it's all good when it wasnt.
 
Brute 23 said:
I'm starting to feel sorry for that man. We had a guy like that at work. He was fine sitting in the office telling war stories but keep him out of the field and away from the public. The worse part was people thought they were being nice propping him up and telling him it's all good when it wasnt.
Click to expand...

Sad part is his family has to know he is being used or abused.
It’s really sad to see a geriatric person with diminished capacity taken advantage of.
It looks like elderly abuse to me.
Worse yet that is this is best the party could field.
If they would run someone like Manchin they would have a chance.
 
Caustic Burno said:
Brute 23 said:
I'm starting to feel sorry for that man. We had a guy like that at work. He was fine sitting in the office telling war stories but keep him out of the field and away from the public. The worse part was people thought they were being nice propping him up and telling him it's all good when it wasnt.
Click to expand...

Sad part is his family has to know he is being used or abused.
It’s really sad to see a geriatric person with diminished capacity taken advantage of.
It looks like elderly abuse to me.
Worse yet that is this is best the party could field.
If they would run someone like Manchin they would have a chance.
Click to expand...

At this moment in time we have two old men running for the office of the President. Also a bunch of senators that cannot let the old man in their life time to step aside and let the younger ones take over. We are right on the verge of a generational change in America whether we like it or not We old folks better get out of the way or get run over.
 
Yeah its funny that the Dems could easily win with a average to good candidate and Joe was the best they could come up with. Its sad that Trump could easily win if he would just shut up for a while and turn off his twitter account.

Its frightening that a country as great as ours has only those two to choose from. The two party system has run its course.
 

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