…if this continues?
Rule 303 said:
…if this continues?
Petrol at pre 21st century prices ?
Cymek said:
Rule 303 said:
…if this continues?
Petrol at pre 21st century prices ?
Already well and truly there, mate. There’s places around here under 80c.
Is there a point at which the industry shuts down? Do they establish massive stockpiles? Has this ever happened before?
Rule 303 said:
Is there a point at which the industry shuts down? Do they establish massive stockpiles? Has this ever happened before?
$1.10 here.
Bar-stewards.
Rule 303 said:
Is there a point at which the industry shuts down? Do they establish massive stockpiles? Has this ever happened before?
When the price of the commodity drops below the cost of production then, if it stays there for a while, some producers will inevitably shut down…
furious said:
Rule 303 said:
Is there a point at which the industry shuts down? Do they establish massive stockpiles? Has this ever happened before?
When the price of the commodity drops below the cost of production then, if it stays there for a while, some producers will inevitably shut down…
Can wells shut down completely and be restarted or would they going to a minimal pumping capacity
I’ll tell you what happens pilgrim, they put Peak Oil Man on suicide watch.
Rule 303 said:
…if this continues?
Oil price goes negative.
Of course, for the final consumer, that isn’t going to happen.
Rule 303 said:
…if this continues?
Don’t worry, it wont. Not for very much longer at all..
Big hit to government revenue for petrol excise for one.
Climate Disaster
furious said:
Rule 303 said:
Is there a point at which the industry shuts down? Do they establish massive stockpiles? Has this ever happened before?
When the price of the commodity drops below the cost of production then, if it stays there for a while, some producers will inevitably shut down…
Oil dropped below $0 in the US last week. I think it was -$35. Storage was full, no one was taking it. Then the price went up to about $2.
Nothing is ever easy, just spend time at Vhannel 10 Melbourne. I plan on spending an extra day here, virus and fuel for cars.
Rule 303 said:
…if this continues?
I’ve been buying petrol early, because the prices are so low.
I’ve been noting that cars are returning to the streets in Melbourne following the initial glorious days of no traffic. I got caught in a minor traffic jam yesterday.
Perhaps we should all buy up big when the USA hits peak coronavirus. Countries are cutting back their petrol production rate but not fast enough to keep prices stable.
Here’s a satellite view from ESA of how car usage has cut back in India because of Covid-19.
