panic??

[Tedlark]

But, there are a couple backstory's with the price of crude oil right now besides what else is going on in the world.

[Tedlark]

But, there are a couple backstory's with the price of crude oil right now besides what else is going on in the world.

Didn't mean to post this twice: my tablet wigged out for a second.

[notes1]

But, there are a couple backstory's with the price of crude oil right now besides what else is going on in the world.

you are correct. a fight between saudi arabia and russia is adding to the decline. but, exxon, which not long ago was at $80/share is now in the $30's. russians are determined on hurting the usa shale producers.

a slower economy means less demand for oil.

[Tedlark]

Ah, yup.....

[olds442jetaway]

Ditto

[olds442jetaway]

Actually I wish as much as I love fast gas guzzling cars they would perfect the batteries and I’m sure they will so we get at least a 500 mile range out of them and they are pretty much maintenance free. Once that happens, and the price comes down we can send the Middle East back into one big sandbox. Of course will still need oil for other things but it would be cool if we didn’t need it for transportation at all.

[notes1]

olds, actually, the usa is already energy independent, we don't need that middle east oil. the credit would start with the dick cheney and bush (both hated by the left), who opened up the western usa to shale oil production. japan, s.korea and europe still need oil from elsewhere. that is why trump is demanding they pay more to us for protecting m/e oil supplies.

if i understand the situation correctly, the saudi's were willingly to reduce production, to meet reduced demand, but the russians were opposed. they see this as an opportunity to put a hurt on usa shale producers, whose cost of production is much higher than theirs.

[FAA]

2021 can’t come fast enough. So much for new decade optimism.

[wildman49]

i think we are getting closer to the point of shutting down the entire country.

a month or so ago, oil was priced at about $55 barrel, current price...$22.

I agree notes, as I said before I work at a grocery store now 20 years, one week ago the TP shelf started to go empty. I called my wife and told her to pick up some things for the pantry and TP as I had no idea what was going on. She spent 100 bucks. That was Wednesday the 11th. By Satruday the 14th these pics I took.

Frozen Potatoes

Frozen veg

Paper

eggs

milk

In all my years we never missed a milk delivery, yet Friday night we never got our milk allotment.
Now yes we got over run. But the problem is we can't get product. What we do get is gone by 10am, we just can't get the product. Our supply chain is being cut off. Something is going on at all stores. They make TP every day but comes in like the world is out of it.

I took a walk down every aisle. NO peanut butter, NO pasta, No bread, No chicken, No butter. Just to name a few.What little comes in is gone very fast. Has nothing to do with hoarding or panic buying when very little comes in over night. When you can't even get a normal load in somethings a miss.

Many of us at work are thinking our product is being diverted to the East and West coast, the hot spots as they say. They going to send in the the Nat Guard and hand out grocery supply's with an eye dropper.

My wife and I are preparing for the worst and hoping for the best.

[notes1]

one of the problems is 'hoarding'. i have seen multiple pictures of customers leaving the stores with 3-4 packs of 24 count toilet paper. that's 72-96 rolls for a single customer. the same is being done for all kinds of staples, including peanut butter, water, canned soup, frozen veggies, etc. there is no need for this and those folks are just being selfish.

my guess is this is no diversion conspiracy, but rather a distribution problem. while the stores are out of some of these products, with school closures, offices shut down, no in service restaurants, casinos closed, all these places have millions of excess toilet paper alone. with people staying at home, grocery stores are seeing record amounts of traffic. the distribution network needs to be adjusted and seemingly overnight. it will work out, americans and american business are the best in the world.

but, a little less selfishness wouldn't hurt.