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Recursion

(56,582 posts) Mon Apr 20, 2020, 02:06 PM Apr 2020

Looks like OPEC knew what it was doing two weeks ago

Holy hell this is a slaughterhouse.

6 replies

= new reply since forum marked as read

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Looks like OPEC knew what it was doing two weeks ago (Original Post) Recursion Apr 2020 OP

More commentary here Bernardo de La Paz Apr 2020 #1

And here... lame54 Apr 2020 #6

I don't understand what it means Renew Deal Apr 2020 #2

It's taking a toll on state budgets. TexasTowelie Apr 2020 #4

Demand has dropped 30-40 pct. roamer65 Apr 2020 #3

I believe it is filled exboyfil Apr 2020 #5

Bernardo de La Paz

(48,930 posts)

1. More commentary here

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:09 PM

Apr 2020

https://www.democraticunderground.com/100213302746

lame54

(35,248 posts)

6. And here...

Reply to Bernardo de La Paz (Reply #1)

Mon Apr 20, 2020, 02:34 PM

Apr 2020

https://www.democraticunderground.com/100213310534

Renew Deal

(81,839 posts)

2. I don't understand what it means

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:10 PM

Apr 2020

It doesn't seem like a good thing. I know that it means US oil is probably going to get idled, but what about other effects?

TexasTowelie

(111,836 posts)

4. It's taking a toll on state budgets.

Reply to Renew Deal (Reply #2)

Mon Apr 20, 2020, 02:15 PM

Apr 2020

States like Texas and Alaska do have rainy day funds, but others like New Mexico, Louisiana, and Pennsylvania are definitely looking at cutting budgets and laying off employees.

roamer65

(36,744 posts)

3. Demand has dropped 30-40 pct.

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:11 PM

Apr 2020

Once storage is gone, oil producers will have to shut off production.

We should be pumping all we can and more into the strategic reserve.

exboyfil

(17,862 posts)

5. I believe it is filled

Reply to roamer65 (Reply #3)

Mon Apr 20, 2020, 02:21 PM

Apr 2020

We cancelled a sale and Trump pushed to buy more. It only represented four days of use to fill it up if I remember correctly.

I don't think there is anyplace to put anymore (some proposals on the table to put it in rail car but that creates a whole new set of problems).

Even with slashing CAFE standards, I got to believe we have reached and already moved off of peak oil consumption for the the rest of our epoch. By the time travel returns to previous highs (probably driven by population growth) we will see electric as having a significant presence.

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