What are you guys paying for gas?

[BigHornRam]

All the economic sensitivities we been working on have been using $65/$75/$85 (low/middle/high)

I pulled this paragraph from another Oilprice.com article. Estimates and wishful thinking is higher than the conservative estimates your company is using @wllm1313 . Could be a good bonus for you this year.


"Ironically, with President Joe Biden calling out energy companies over prices at the pump, oil in a steady range of $95 to $100/barrel could benefit energy companies overall by limiting attempts to tax windfall profits while also limiting demand destruction. Indeed, a stable price in the low $100s is the best possible outcome for the US energy industry which has optimized tremendously in the past decade, pulling breakeven prices to the low $40s according to some estimates. In a Mar. 11 note, Bank of America reiterated its overweight on the sector, citing inflation-protected yield, near-record low valuations, improving profile with ESG investors and energy companies’ prioritization of capital discipline above production as reasons to stay long."

 

[Deleted member 28227]

I pulled this paragraph from another Oilprice.com article. Estimates and wishful thinking is higher than the conservative estimates your company is using @wllm1313 . Could be a good bonus for you this year.


"Ironically, with President Joe Biden calling out energy companies over prices at the pump, oil in a steady range of $95 to $100/barrel could benefit energy companies overall by limiting attempts to tax windfall profits while also limiting demand destruction. Indeed, a stable price in the low $100s is the best possible outcome for the US energy industry which has optimized tremendously in the past decade, pulling breakeven prices to the low $40s according to some estimates. In a Mar. 11 note, Bank of America reiterated its overweight on the sector, citing inflation-protected yield, near-record low valuations, improving profile with ESG investors and energy companies’ prioritization of capital discipline above production as reasons to stay long."

I think part of the problem is that if oil goes too high or too low the correction is wild in the other direction. $150 leads to a bunch of factors that then lead to $30... hard to get commodity prices in that sweet spot.


Or generally for people to accept that $3.50 gas is probably where we should be... no matter what side of the aisle your on.

 

[Beignet]

Observation: The decent motor oil shelves were pretty bare at Wally World yesterday. The generic stuff seems scarcity proof so far though.

 

[Deleted member 28227]

@BigHornRam also you're looking at returns on wells that pay out over years not a year

 

[Deleted member 28227]

Observation: The decent motor oil shelves were pretty bare at Wally World yesterday. The generic stuff seems scarcity proof so far though.

hmmm might actually have to see if that 20k mobile one can actually make it 20k

 

[Deleted member 28227]

Activist Investor Engine No. 1 Founder Urges More U.S. Shale Production | OilPrice.com

The founder of the Engine No. 1 activist investor that challenged ExxonMobil’s strategies and won seats on the supermajor’s board last year, is calling for more oil supply from the Permian basin to reduce dependence on foreign suppliers

oilprice.com

I find this very interesting

 

[Beignet]

hmmm might actually have to see if that 20k mobile one can actually make it 20k

A braver man than myself!

 

[FI460]

hmmm might actually have to see if that 20k mobile one can actually make it 20k

Don't you drive a Toyota? It definitely can.

 

[BigHornRam]

@BigHornRam also you're looking at returns on wells that pay out over years not a year

I watched the Beverly Hillbillies growing up. Oil business is lucrative.

 

[nhenry]

Gas is actually going down here now. In Junction City it was up to 3.97 and it went down to 3.69 over the weekend.

 

[BigHornRam]

Activist Investor Engine No. 1 Founder Urges More U.S. Shale Production | OilPrice.com

The founder of the Engine No. 1 activist investor that challenged ExxonMobil’s strategies and won seats on the supermajor’s board last year, is calling for more oil supply from the Permian basin to reduce dependence on foreign suppliers

oilprice.com

I find this very interesting

Saw that one.

 

[Deleted member 28227]

I watched the Beverly Hillbillies growing up. Oil business is lucrative.

Funny story I was having lunch with a couple of folks last year, couple CEOs in there 60s and then a couple of folks my age, and after one of us made a comment about prices said... "huh, I guess none of you have actually worked in the industry when it was good..."

We all basically got jobs in 2012-13' when it was ok then everything went to hell in 14' then stabilized a bit then really died in 20'... so yes that is absolutely my bias, a bias towards bear markets, but it's also the reality of the last decade.

 

[BigHornRam]

Funny story I was having lunch with a couple of folks last year, couple CEOs in there 60s and then a couple of folks my age, and after one of us made a comment about prices said... "huh, I guess none of you have actually worked in the industry when it was good..."

We all basically got jobs in 2012-13' when it was ok then everything went to hell in 14' then stabilized a bit then really died in 20'... so yes that is absolutely my bias, a bias towards bear markets, but it's also the reality of the last decade.

Investors in your industry are bullish today. Take your wife out to a nice restaurant tonight.

 

[Redmt]

In sunny Bendover CA.
Diesel $5.89 cash $5.99 credit.

 

[PrairieHunter]

Paid $5.08 at Hat 6 in Casper yesterday. Got 15 gallons in before the machine hit the limit. Did that twice.

Admittedly jealous as I looked around the corner at the EV charging station knowing they didn't just drop $150 in fuel to fill up.

 

[Deleted member 20812]

Maybe Putin and Musk are collaborating.

 

[BigHornRam]

Maybe Putin and Musk are collaborating.

Putin and others maybe. Not Musk.

Elon Musk: US needs to increase oil, gas production ‘immediately’

Tesla CEO Elon Musk urged the United States to increase its oil and gas production following Russia’s invasion in Ukraine, acknowledging it would impact Tesla.

thehill.com

 

[Deleted member 20812]

Putin and others maybe. Not Musk.

Elon Musk: US needs to increase oil, gas production ‘immediately’

Tesla CEO Elon Musk urged the United States to increase its oil and gas production following Russia’s invasion in Ukraine, acknowledging it would impact Tesla.

thehill.com

It was a joke Francis. Need a link?

 

[MTGomer]

I’m sure we can all agree that these $100 swipe limits are BS and should be relegated to a thing of the past no matter how high or low gas gets in the future.

How is that still a thing?

 

[BigHornRam]

It was a joke Francis. Need a link?

Jokes need to have some truth to be funny. Better joke would be maybe Putin and the Biden Administration are collaborating.