WAMP wamp I’m in o/g good thing I’m the only engineer with civil and construction experience. Slumburger just laid off 8k or 9k people. Eeek hope this idnt signs of a crash.
I doubt the major players are in any danger. They’ll obviously slow down, but they’re not going to face bankruptcy.
The little guys? Yeah they might be in trouble.
anytime the gf drives my truck, she cant get over how much bigger it is compared to her car… and my truck really isn’t that big lol. if you look at anything late 2000’s and newer you’ll get pretty decent mileage. I avg about 18-20mpg combined in my ram, best of 22mpg on my last road trip.
7k just feels like too much for a midsize to be safe. hell my truck weighs just over 5k pounds and there’s been times when towing I could feel the trailer pushing my truck in wind. (8.5x24+vnose car hauler, aluminum frame). its well within the towing capacity, and my truck has plenty of power and braking to handle it, but the truck would really benefit from being heavier and having a longer wheelbase. that’s what concerns me with the new fords, they shed all kinds of weight with the aluminum body, yet up the towing capacity? doesn’t seem safe to me.
Back on topic, I’m enjoying the price of oil being low. I don’t buy the BS that the economy will suffer because of it.
Oh I wasn’t saying that I have a 7k load, just that was the vehicle capacity I was looking for. I’m probably closer to 5k.
A boat is also more aerodynamic than a rectangular trailer.
Frankly my Pilot does OK for 30 minute trips, but I’m not sure what 3 hours on the highway would be like.
always like reading analysis on this stuff.
toward the end he discusses US Govt intervention in the form of subsidies. to some degree there will have to be intervention and the point in the article is that US companies in the business of producing oil are competing against nation states who have no substitute for petro dollars to finance their budgets. for that reason, unless the US govt (and the CDN govt for that matter) wants to let a significant driver of its economic recovery become insolvent they will have to step in.
i’d rather see north america buyers of oil agree to price contracts as i mentioned previously rather than see the govt step in but that could be view as protectionist… which i’m all for btw 
same here…we were doing fine years ago when gas was 2.50 here…and even 1.50 before that
it has more to do with shuttering operations, losing jobs and a pull back in economic speculation which boosts valuations and investing.
"Oil fell Wednesday after four straight days of gains, as U.S. crude stockpiles grew more than expected to a record high.
Supplies rose by 6.3 million barrels to 413.1 million barrels in the week ended Jan. 30, the Energy Information Administration said, the highest since the EIA started keeping records in August 1982.
Analysts polled by Platts were only expecting stockpiles to rise by 2.8 million barrels.
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U.S. crude plunged 4.7% to $50.53 per barrel and Brent fell 3% to $56.13.
Late Tuesday, the American Petroleum Institute said U.S. crude stockpiles had increased for the fifth straight week, rising by 6.1 million barrels last week.
Shares of oil companies retreated on the news. Continental Resources (NYSE:CLR) plunged 3.7% to 44.99 on the stock market today. ConocoPhillips (NYSE:COP) fell 2% to 66.38. Chevron (NYSE:CVX), Exxon Mobil(NYSE:XOM), BP (NYSE:BP) and Royal Dutch Shell (NYSE:RDSA) also dipped.
Crude had been on the uptick after Baker Hughes (NYSE:BHI) reported on Friday that 94 rigs had been taken out of service in the week ended on Jan. 30, the biggest drop since the company started keeping records in 1987.
Prices also got a lift last week when OPEC’s secretary-general said that oil prices could soar to $200 per barrel in three or four years."
2 days ago BJ’s had gas at 2.36/gal
Yesterday their price jumped to 2.40/gal
http://finance.yahoo.com/video/opec-el-badri-warns-200-160524343.html
yeah oil poppin this week
Bout time!
ugh… I have all this oil stock and don’t know when to dump #firstworldproblems
im guessing now would be a good time to buy
I swear, the big guys are just playing games. making the market drop so they can buy. Then selling when it rises
Buy when there is fear in the streets…or people are talking about V8’s for everyone due to cheap gas prices.
The rig count is still dropping, I’m calling this as a head fake.
more ‘head fake’ talk here:
A strong macro trend requires micro reversals, which help renew/sustain momentum.
Short read on how this isnt just a supply shock but a lack of demand as well.
Yesterday while in Toronto at the autoshow I was low on fuel so I looked for a gas station before heading home. The shell gas station had 91 octane for $1.90/liter. If my math is correct 1 gallon is 3.785 liters, I paid about $7.12/gallon yesterday.
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