Drive for 5 now a reality

[blackangst1]

Well, $5/barrel that is! This is pretty amazing...

Oil hits US$5. Why pumps will stay open if prices turn negative

A barrel of Canadian oil is now worth about as much as a nice latte or a fast food combo, falling to about US$5 on Friday.

www.yahoo.com

 

[sandorski]

Yup. I'm surprised people are not hoarding barrels of Oil instead of TP at these prices.

 

[Blackjack200]

Yup. I'm surprised people are not hoarding barrels of Oil instead of TP at these prices.

I actually saw someone filling 55 gallon drums on the interstate last week. If he’d waited he would have gotten it even cheaper.

 

[Moonbeam]

$3:30/g where I am.

 

[BUTCH1]

$3:30/g where I am.

Where is that?, just fell below $2/gallon yesterday, (FL), probably much cheaper elsewhere.

 

[Moonbeam]

Where is that?, just fell below $2/gallon yesterday, (FL), probably much cheaper elsewhere.

SF bay Silicon Bay area.

 

[Greenman]

Is now the time to buy oil futures? If that's even a thing.

 

[BUTCH1]

SF bay Silicon Bay area.

Oh, OK if I recall Cali has special formulation fuels to combat smog so it's more expensive to make. Just got back from the store, $1.93/gallon now.

 

[sportage]

Haha. Cheap gas and no where to go. Figures....

 

[BoomerD]

$2.99 here in town, $2.59 in the closest "city," $2.19 in "civilization."

 

[Moonbeam]

Oh, OK if I recall Cali has special formulation fuels to combat smog so it's more expensive to make. Just got back from the store, $1.93/gallon now.

Not to mention, I think we get scammed because everybody here is wealthy and will pay 10 bucks a gallon.

 

[sandorski]

Not to mention, I think we get scammed because everybody here is wealthy and will pay 10 bucks a gallon.

I do like the Blingy Glow Exhaust. The Poors exhaust is so, blase.

 

[alcoholbob]

Is now the time to buy oil futures? If that's even a thing.

Some oil stocks have crashed so bad they are paying something like 50+% annual dividends, even after they cut their dividend by like 75% lol.

The problem is you don't know who has the balance sheet to survive this mess, because a lot of producers will go out of business. But if you bet right, the companies that survive after the pandemic and producer consolidation are on an incredible sale right now.

 

[BUTCH1]

Not to mention, I think we get scammed because everybody here is wealthy and will pay 10 bucks a gallon.

"everyone"? I doubt that.

 

[Moonbeam]

"everyone"? I doubt that.

Well, naturally not the ones who drive Teslas

 

[UNCjigga]

Paid $1.59 at Costco last week in NC—probably cheaper now. Next time I’ll do Premium for $1.99 (or less) and add 30hp.

 

[sdifox]

Paid $1.59 at Costco last week in NC—probably cheaper now. Next time I’ll do Premium for $1.99 (or less) and add 30hp.

A NOS sticker would add 50HP

 

[Sinsear]

Oh boy, i thought Dave was here

 

[Ichinisan]

I actually saw someone filling 55 gallon drums on the interstate last week. If he’d waited he would have gotten it even cheaper.

Due to government subsidies, most gasoline has a significant amount of ethanol added. It doesn't last long if you try to keep it.

 

[BUTCH1]

Due to government subsidies, most gasoline has a significant amount of ethanol added. It doesn't last long if you try to keep it.

you can use fuel stabilizers, but in general it's not really a good idea. 55 gal drums are heavy and bulky to move around then you'll either have to get a small pump or siphon it to get it out. Big hassle for little savings.

 

[allisolm]

Haha. Cheap gas and no where to go. Figures....

That's what my daughter said. $1.50 in San Antonio and nowhere to go. Costco and Sam's in Tallahassee are $1.75.

 

[BUTCH1]

That's what my daughter said. $1.50 in San Antonio and nowhere to go. Costco and Sam's in Tallahassee are $1.75.

The beach is still open in Daytona but you can't drive on it right now. Some of bigger hotels are closed but smaller ones remain open. Plentty of fast-food drive trough's open and some beach-side restaurants will do take out.

 

[Newfangle9]

Oh, OK if I recall Cali has special formulation fuels to combat smog so it's more expensive to make. Just got back from the store, $1.93/gallon now.

That plus California's very high gas taxes.

 

[qliveur]

Oh boy, i thought Dave was here

Didn't he get vaporized?

 

[Dulanic]

4 months after I get my Tesla gas drops like crazy! That's OK, it's still cheaper even at $1 a gallon of gas. I have a feeling this was a play by Russia/Saudia Arabia to cut out the shale market + slow the electric vehicle change. Then COVID happened and their already over played hand just got them fucked.