I am in Electrical Distribution and our Oil and Gas division was off nearly 60% to budget last year. That is a sum of billions that we have already lost. We were cranking along at a break neck pace and then it just fell out. The low cost of oil, banning and regulation of fracking etc… Lots of companies in my sector and the industrial sector are already seeing some fallout and have already cut spending and labor. Hopefully commercial construction maintains and we will carefully navigate through this.
US shipped its oil over seas out of reserves pretty recently which is nice. Shows how much more we have.
One of the benefits of these big companies is they have assets on the books which makes them nice to take over. Between drilling rights, the equipment, and the land ownership, they will continue to consolidate.
Oil futures are getting darker and darker. Not seeing $40 until Dec 2018.
Not seeing $40 until Dec 2018? Is this your prediction? Just curious because as much as I love filling up for cheap, bad things could happen around the world.
Always with the negative outlook im pretty sure if we went back to your first post the world should have been taken over by aliens at least 5x by now.
I believe it was being saved not attacked. 
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I may have said this another thread, I would not be surprised if almost all new passenger cars are electric in 10 years or so.
with what power grid?
I like to call it the anti-grid. 
Oil may be traded in USD but other currencies are much more sensitive to oil prices. Take a look at the Russian Ruble, all time low today. Has gone from 30-35 rubles per dollar to more than 80! CAD would be more of a petro-dollar than US as well.
No it was a comparison to the previous post of mine. Bloomberg terminals showed DEC '16 prices around $45. There is a deep sentiment change in the markets it seems with oil and extending out pretty significantly. I closed my short yesterday at $28 and change. I am waiting to see how this plays out in this range since that $30 mark is a significant price for a lot of the industry.
Ruble has been toast for a while.
yeah russia has a bunch of shit weighing it’s currency down.
@boxxa were you saying that the futures are showing oil staying under $40 until 2018 or did you mean that you were speculating at that?
No the current Dec '18 settlement CLZ18 contract is that price: Crude Oil WTI Dec '18 Futures Price - Barchart.com
You can see all the settlement times here and the outlook is not good.
all that shit is beyond me just by looking at it… i just wanted to know where the number was coming from.
I would be willing to bet we’ll be over $41 by 2018 for sure.
Airlines and shipping companies can use this opportunity to hedge and lock in cheap fuel costs for years to come. Hopefully we’ll see it passed on to customers in the form of lower prices, but with all of the mergers and consolidation the last few years they’ll probably just use it as a chance to pad their margins.
Many vendors still try charging fuel surcharges, I just cross it out and don’t pay it.
I just had a vendor contract renewal that went from no surcharge to now having one. In the nicest words I could muster up asked him to try again.
Nicest words… “Step away from the crack pipe.”
As the smaller players run out of cash, they will get swallowed up by bigger ones.
“The big boys and girls will snap up a lot of cheap assets,” predicts Lynch. As the smaller players run out of cash, they will get swallowed up by bigger ones.
Agario in real life! @bing
Cut bait on half of my long oil position with the pop the last 2 days. Been stuck in it for a year and the fundamentals have changed.