National Petroleum Reserve

[AvidIndoorsman]

Sorry. The paywall is very annoying. The summary- they just can't stop themselves. If you want hard evidence, from news feed, -"Oil rigs in the U.S. rose by 19 to 516 this week, the biggest gain since February 2018,...".
Energy stocks seems like something you should rent more than own these days. Awesome when Russia is saber-rattling, but when it calms down might be hard to sustain these price levels.

"Oil executives tempted by the prospect of the highest crude prices in seven years are showing all the signs of abandoning pledges to hold the line on drilling budgets, Citigroup Inc. said.

U.S. shale explorers are poised to boost spending by almost 40% this year, based on comments and plans revealed during recent earnings presentations, Citi analyst Scott Gruber wrote in a note to investors on Monday. That’s up from the bank’s previous call for a 30% rise. Overseas budgets are seen jumping by 32% from the old forecast of 17%.

“E&P managements will be hard pressed to abandon their commitments,” Gruber wrote. “But we foresee an increasing number beginning to lean into the market as the challenge of managing supply in a market as disaggregated as the global oil market becomes increasingly clear.”

U.S. companies probably will lift domestic daily crude production by as much as 1 million barrels this year, according to various analysts. American oil prices have climbed 21% this year to more than $90 a barrel, extending last year’s 55% advance.

This is essentially why I’m skeptical of sustained $100+ oil.

I just don’t think the industry can hold the line.

 

[BigHornRam]

This is essentially why I’m skeptical of sustained $100+ oil.

I just don’t think the industry can hold the line.

Everything I read, OPEC+ is the wildcard.

 

[AvidIndoorsman]

Everything I read, OPEC+ is the wildcard.

Me too... I'm curious though about the differential between Brent and WTI.

My understanding is that we could have OPEC + capacity problems, but with shale increases and then have $110 Brent and $70 WTI or whatever.

What's ngas in Europe right now... like $27?

 

[AvidIndoorsman]

This is essentially why I’m skeptical of sustained $100+ oil.

I just don’t think the industry can hold the line.

@BigHornRam I guess I'm calling @Dsnow9 and googling recipes for hats...

 

[Gr8bawana]

Do you have a battery back up that stores your solar and then charges your vehicle or are you on the grid?

If your on the grid and you live in the west then you have a coal fired car

If you have the former no argument from me.

Strange he hasn't been back since making his bold statement and being asked for details.

 

[Dsnow9]

@BigHornRam I guess I'm calling @Dsnow9 and googling recipes for hats...

View attachment 214178

Just got some new ones! Just say the word!

 

[BigHornRam]

@BigHornRam I guess I'm calling @Dsnow9 and googling recipes for hats...

View attachment 214178

Same recipes he used for his mountain goat.

 

[Dsnow9]

Same recipes he used for his mountain goat.

If that’s the case however you cook it, it will turn out great. I ended up with a tasty one!

 

[BigHornRam]

Alaska Is Reaping The Benefits Of High Oil Prices | OilPrice.com

Skyrocketing oil prices have helped Alaska reap billions of dollars more in revenue than previously expected

oilprice.com

 

[BWALKER77]

Strange he hasn't been back since making his bold statement and being asked for details.

What he said wasn't false.