Ummmmmm. You're not supposed to utter the "R" word...No one knows for sure what will be the situation by mid-March. Could be a recession by then.
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Ummmmmm. You're not supposed to utter the "R" word...No one knows for sure what will be the situation by mid-March. Could be a recession by then.
Today I hear you but for how long? Reminds me, wonder when Biden will reload the reserve? He’ll probably wait till prices go back up.price of gasoline are the least of my worries.
He claimed SPR would be stocked when oil was under $70. It was there this week. Yet, all we have is radio silence...Today I hear you but for how long? Reminds me, wonder when Biden will reload the reserve? He’ll probably wait till prices go back up.
WTI and Brent in December.He claimed SPR would be stocked when oil was under $70. It was there this week. Yet, all we have is radio silence...
No one knows for sure what will be the situation by mid-March. Could be a recession by then.
For you refining types: will this put a bunch of idle Gulf Coast refining capacity back on line (idle because it was geared to refine the crappy tar oil like Venezuela produces...)? An uptick, or even a little boom in refining?WTI and Brent in December.
The real issue is the lower pricing is due to Venezuela pumping all of their crappy oil offsetting OPIC+, but still attempting to be a part of OPIC+.
Lower cost Venezuela oil should help refining margins.For you refining types: will this put a bunch of idle Gulf Coast refining capacity back on line (idle because it was geared to refine the crappy tar oil like Venezuela produces...)? An uptick, or even a little boom in refining?
It is a different crack which is less efficient which equates to more costly.Lower cost Venezuela oil should help refining margins.
However it is easier to reach the octane requirements vs lighter crude, which saves money because currently they are importing oil from Saudi to help make up the difference.It is a different crack which is less efficient which equates to more costly.
The financial difference is transportation costs to the Texas Gulf Coast. The light crudes are easier on the process.However it is easier to reach the octane requirements vs lighter crude, which saves money because currently they are importing oil from Saudi to help make up the difference.
Leaders of Venezuela and Guyana agree to avoid use of force in land dispute | CNNAnd speaking of Venezuela and heavy tar oil, Venezuela is thumping its chest about invading neighboring Guyana to "reclaim" lost territory. Guyana is now a major oil producer with some big new E&P projects in recent years.
Yeah, that guy Maduro, he seems trustworthy.
Yes I think Exxon would win this war.Venezuela doesn't have enough economic output to fight a war.
Arguably more trustworthy than our current regime...Yeah, that guy Maduro, he seems trustworthy.
Maybe we need some independent Venezuelan observers to watch our elections and make sure they're fair...mb
Well at least Maduro won his election fair and square
Actually Chevron.Yes I think Exxon would win this war.
Exxon and Hess are developing the huge fields offshore of Guyana coast that could be impacted if Venezuela grabbed the adjoining land. The offshore field straddles both the disputed and undisputed offshore economic development area.Actually Chevron.
Ok. I was just thinking Venezula.Exxon and Hess are developing the huge fields offshore of Guyana coast that could be impacted if Venezuela grabbed the adjoining land. The offshore field straddles both the disputed and undisputed offshore economic development area.
Chevron would need a land army whereas Exxon would only need a navy to defend its interests. Advantage Exxon.Ok. I was just thinking Venezula.