The future of oil..

Mudball

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So oil is at its lowest and some parts of the world the futures are trading in Negative!!! Likely to get worse as contracts expire tomorrow.
If only I could buy a million barrels at $1 ... Not sure when we get to use the cars next or what the price would be at the pumps. I am assuming this is also a good investment opportunity if you know where to put the money
 

Doon frae Troon

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Investment companies will be making a fortune out of all this.

Whilst others will have lost a fortune.

Oil has been on the way out for quite a time now.
Countries who have invested in clean energy will now be the king until something else comes along.
All those who mocked wind farms are now starting to look a bit foolish.
Mind you I exempt Trump from this as he looked foolish to start with.;)
 

SwingsitlikeHogan

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Brother in A'deen works for major oil company and he mentioned a few weeks ago that his company could soon have big problems. Fuel isn't leaving the refineries; the refineries aren't refining; the storage tanks are full; the tankers are sitting full out there. His company was recently taken over. The company he now works for cannot afford this. He ('jokingly') said that he and his colleagues are getting a bit worried...and that would not be good at all for A'deen as they are a not insignificant employer of high skill - high value - jobs.
 

ferenezejohn

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India, are tightening foreign investment rules acting on information that China are trying to take advantage of falling share prices due to covid.
The EU have also asked European countries to buy up shares to stave Chinese take overs.
 

ferenezejohn

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Brother in A'deen works for major oil company and he mentioned a few weeks ago that his company could soon have big problems. Fuel isn't leaving the refineries; the refineries aren't refining; the storage tanks are full; the tankers are sitting full out there. His company was recently taken over. The company he now works for cannot afford this. He ('jokingly') said that he and his colleagues are getting a bit worried...and that would not be good at all for A'deen as they are a not insignificant employer of high skill - high value - jobs.
There's more chance of the restrictions ending tomorrow than the likes of Ratcliffe safeguarding jobs
 

Bunkermagnet

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Whilst others will have lost a fortune.

Oil has been on the way out for quite a time now.
Countries who have invested in clean energy will now be the king until something else comes along.
All those who mocked wind farms are now starting to look a bit foolish.
Mind you I exempt Trump from this as he looked foolish to start with.;)
Theres an article on the BBC website yesterday about ocean floor fmining, and how originally it was the CIA using it as an elaborate cover story to try and recover a Russion nuclear sub deep in the pacific (that failed in the end) but now is looking like reality out in the South Pacific. The damage done to the eco system and enviroment could be horrendous and makes you really think about how enviromentally good wind farms, battery electric cars and the like really are when you consider where the precious metals they need come from and how it's obtained.

Here you go..BBC article
 

SwingsitlikeHogan

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There's more chance of the restrictions ending tomorrow than the likes of Ratcliffe safeguarding jobs
He was in Chevron UK. None of the big oil companies are going to be liking this state of affairs. His company might well be fine and they might well have no issues whatsoever. I can never tell whether my brother is joking or not...:rolleyes: But i am guessing that the rationalisation that inevitably happens when one company buys another will be a bit keener as a result of the current situation, and it's likely that much planned investment will have been put on hold.
 
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Mudball

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Big Oil - Chevron, Shell, BP will be ok.. some on the edge will go under. The oil sands and others which are viable if oil is > $50 will struggle big time. Got friend in the industry and Capex project has ground to a halt.
Those in the supply chain will struggle for some time.

Ofcourse, the price will turn once the options expire today, but demand needs to start again - so need to get cars and planes moving soon.
 

SwingsitlikeHogan

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I suspect it’ll soon be forgotten when planes, trains, ships and automobiles are all back full on - but the impact that their current curtailment has had on smog and pollution in the cities is astonishing. I guess few alive have ever seen the likes.

Piece on Ch4 News this evening and the view from a North Indian city (can’t recall which one) of the Himalayas 100miles away - covered high altitude with snow - was astonishing. And it had been a forgotten view due to smog.
 

pauljames87

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I suspect it’ll soon be forgotten when planes, trains, ships and automobiles are all back full on - but the impact that their current curtailment has had on smog and pollution in the cities is astonishing. I guess few alive have ever seen the likes.

Piece on Ch4 News this evening and the view from a North Indian city (can’t recall which one) of the Himalayas 100miles away - covered high altitude with snow - was astonishing. And it had been a forgotten view due to smog.

I wonder how much time it's bought us back on the climate change side of things
 

Fish

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Only the sale of new cars and only certain countries

Some cars could last many years past this

But increased taxes, tolls & penalties for such cars/vehicles outside of emission targets will drive them out of circulation.

I’m already seeing substantially less smoking old rust buckets around the capital, when that’s rolled out to the south circular and other cities around the country, the Euro5 cars & Euro6 vans of today, will be the equivalent of those smokers in 2030, but much cleaner & healthier.
 

Bunkermagnet

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Is this how the world in 2040 will look when the world has switched to electric cars??
If the proposed ocean floor mining goes as predicted, the oceans will be devoid of all life forms due to the huge sediment quantities floating around for us to have our electric cars, turbines, phones etc etc.
 
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Junior

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We power most of the rigs and drills around the world. Huge price battle for crude between Saudi, Russia and the USA. They all refused to slow down production (cost) and only now when there is literally no where to put the crude, has production started to slow.

That said, anyone with $$ to invest, now is the time.
 

BrianM

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It’s cost me my job and I work for the biggest drilling company in the world.
Plenty of Oil left in the north sea, just a bit more challenging to get it.
 
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