Oil Falls Below $1 - GoHaynesvilleShale.com2024-03-28T21:09:41Zhttps://gohaynesvilleshale.com/forum/topics/oil-falls-below-1?feed=yes&xn_auth=noWell said. Also, the days of…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39017442020-04-21T15:24:00.810ZAaron Moakhttps://gohaynesvilleshale.com/profile/AaronMoak
<p>Well said. Also, the days of having 800 military bases around the world with a defense budget larger than the next ten nations while having a pandemic response akin to a shambolic excrement show will end. Priorities need a once over.</p>
<p>Well said. Also, the days of having 800 military bases around the world with a defense budget larger than the next ten nations while having a pandemic response akin to a shambolic excrement show will end. Priorities need a once over.</p> It appears time to put aside…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39019592020-04-21T13:02:01.864ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>It appears time to put aside the notion that the federal government should not engage in certain actions traditionally left to the free market. I don't have a problem with that and think we as a country have painted ourselves into a corner with the thought that government is "the problem". And that a smaller federal government bureaucracy with limited reach is a priority for a capitalist economy. It never was and, in the end, government is what we choose it to be. I believe that certain…</p>
<p>It appears time to put aside the notion that the federal government should not engage in certain actions traditionally left to the free market. I don't have a problem with that and think we as a country have painted ourselves into a corner with the thought that government is "the problem". And that a smaller federal government bureaucracy with limited reach is a priority for a capitalist economy. It never was and, in the end, government is what we choose it to be. I believe that certain societal needs such as healthcare, national security including pandemic planning, education and a basic safety net for all citizens should be priorities of the federal government. The question is, where do you draw the line? And, how do you keep a larger federal government from becoming "big brother"?</p>
<p></p> Your “free market types” glad…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39017242020-04-21T10:23:54.463ZAaron Moakhttps://gohaynesvilleshale.com/profile/AaronMoak
<p>Your “free market types” gladly allowed and encouraged the current set up, and were constantly rewarded with donations and votes. This was a process accelerated back when it was deemed: Morning in America. The last big send off was when our forty third president acceded to the demands of “free market type” pharmaceuticals and did away with the manufacture of our medicines in the US Commonwealth of Puerto Rico, eradicating tax advantage in PR so big pharma could go to cheaper labor. The PR…</p>
<p>Your “free market types” gladly allowed and encouraged the current set up, and were constantly rewarded with donations and votes. This was a process accelerated back when it was deemed: Morning in America. The last big send off was when our forty third president acceded to the demands of “free market type” pharmaceuticals and did away with the manufacture of our medicines in the US Commonwealth of Puerto Rico, eradicating tax advantage in PR so big pharma could go to cheaper labor. The PR tax advantage was planned away when 43’s daddy was VP, back when Morning in America dawned. When a country has the largest load of debt in the world’s history and a crumbling infrastructure coupled with a service economy, “free market types” are arriving a little tardy to the inventory of federal stockpiles and DPA. Manufacturing cannot arrive in a massive service/ consumer economy within a generation.</p> The large price drop that eve…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39017192020-04-21T06:49:13.410Zphoenixhttps://gohaynesvilleshale.com/profile/phoenix80
<p>The large price drop that everyone is seeing is for the may contract which expires on Wednesday 4/21. The futures price for July contracts are over $26 bbl and June contracts are over $21. The situation today is indicative of some entities having to cover their positions and the volatility of this drop shows there are some hedge funds, banks or companies in very precarious financial positions. </p>
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<p>The large price drop that everyone is seeing is for the may contract which expires on Wednesday 4/21. The futures price for July contracts are over $26 bbl and June contracts are over $21. The situation today is indicative of some entities having to cover their positions and the volatility of this drop shows there are some hedge funds, banks or companies in very precarious financial positions. </p>
<p></p> Well, I”m a free market type,…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39018672020-04-21T02:45:02.101ZSteve Phttps://gohaynesvilleshale.com/profile/StevePorter
<p>Well, I”m a free market type, but we are reaching a critical point where national interests may take precedent. For instance, Congress could pass a law requiring the FDA to require that any patent owner of a new drug seeking FDA approval must demonstrate both a capacity to manufacture in the US (and perhaps a NATO or NAFTA country) and a requirement that some limits imports to the US from China or India. I would like to attend a Town Hall for any Senator or Congressman who chooses not to…</p>
<p>Well, I”m a free market type, but we are reaching a critical point where national interests may take precedent. For instance, Congress could pass a law requiring the FDA to require that any patent owner of a new drug seeking FDA approval must demonstrate both a capacity to manufacture in the US (and perhaps a NATO or NAFTA country) and a requirement that some limits imports to the US from China or India. I would like to attend a Town Hall for any Senator or Congressman who chooses not to vote for such a bill.</p>
<p>the medical supplies could be more problematic. My solution would be to have the federal government purchase, in the open market, with a preference for US manufactured items, a true “federal stockpile” of such goods. As we have seen, the “federal stockpile” was no where sufficient for a pandemic.</p>
<p>The last resort would be the Defense Production Act, but that is also a viable tool to hang onto.</p> I understand, Steve. My ques…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39016502020-04-21T02:24:11.852ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>I understand, Steve. My question is how does the government compel private businesses to take on the responsibility to produce those critical supplies. A mandate? Incentives? Do those companies have requirements as to their workers? Do consumers foot the bill for higher prices? Are there limitations on management bonuses? Stock buy backs? Left to their own devises, US companies will continue to prioritize share holder profits/dividends, management compensation and seek the lowest…</p>
<p>I understand, Steve. My question is how does the government compel private businesses to take on the responsibility to produce those critical supplies. A mandate? Incentives? Do those companies have requirements as to their workers? Do consumers foot the bill for higher prices? Are there limitations on management bonuses? Stock buy backs? Left to their own devises, US companies will continue to prioritize share holder profits/dividends, management compensation and seek the lowest possible costs for production. Does the federal government simply take over production of those essential supplies? It's a fraught debate especially for free market types.</p>
<p></p> My post of having certain ind…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39017122020-04-21T02:15:49.536ZSteve Phttps://gohaynesvilleshale.com/profile/StevePorter
<p>My post of having certain industries return to the US was not some naive expression of hope. It is an expression of hope, but here’s the deal. The question facing every candidate for President, Senate and House this Fall should be this - how has the US government allowed our country’s access to prescription drugs, medical PPE, and critical care medical equipment become subject to the whims of foreign governments, upon whom your constituents can clearly not depend? Do we depend on China or…</p>
<p>My post of having certain industries return to the US was not some naive expression of hope. It is an expression of hope, but here’s the deal. The question facing every candidate for President, Senate and House this Fall should be this - how has the US government allowed our country’s access to prescription drugs, medical PPE, and critical care medical equipment become subject to the whims of foreign governments, upon whom your constituents can clearly not depend? Do we depend on China or India to build our fighter jets, our tanks, our missiles? Of course not - those are critical equipment that the US must make for itself (okay, we do allow some NATO countries to build some of that as well). BUT, now we have discovered that defense materials aren’t the only products upon which America (your voting constituents) depend. There are multiple ways that the government can shape this debate and policy, but shape it they must.</p> US crude for June delivery is…tag:gohaynesvilleshale.com,2020-04-21:2117179:Comment:39017742020-04-21T00:27:40.332ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<div class="zn-body__paragraph">US crude for June delivery is still trading above $20 a barrel -- but even that's disastrous.</div>
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<div class="zn-body__paragraph">"$30 is already quite bad, but once you get to $20 or even $10, it's a complete nightmare," said Artem Abramov, head of shale research at Rystad Energy.…</div>
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<div class="zn-body__paragraph">US crude for June delivery is still trading above $20 a barrel -- but even that's disastrous.</div>
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<div class="zn-body__paragraph">"$30 is already quite bad, but once you get to $20 or even $10, it's a complete nightmare," said Artem Abramov, head of shale research at Rystad Energy.</div>
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<div class="zn-body__read-all"><div class="zn-body__paragraph">Many oil companies took on too much debt during the good times. <a href="https://www.cnn.com/2020/04/02/business/oil-crash-bankruptcies-whiting/index.html" target="_blank" rel="noopener">Some of them won't be able to survive</a> this historic downturn.</div>
<div class="zn-body__paragraph">In a $20 oil environment, <strong>533 US oil exploration and production companies will file for bankruptcy by the end of 2021</strong>, according to Rystad Energy. <strong>At $10, there would be more than 1,100 bankruptcies, Rystad estimates.</strong></div>
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<div class="zn-body__paragraph"><strong>"At $10, almost every US E&P company that has debt will have to file Chapter 11 or consider strategic opportunities," Abramov said.</strong></div>
</div> Yes, because before Covid-19…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39017682020-04-20T23:23:08.489ZAaron Moakhttps://gohaynesvilleshale.com/profile/AaronMoak
<p style="text-align: left;">Yes, because before Covid-19 there were over 16 trillion of household debt and over 40 per cent of the population making less than 18000 a year. Now, throw over 22 million unemployed with uncertain futures and “rational, middle-of-road” will have a new meaning with keener observation.</p>
<p style="text-align: left;">Yes, because before Covid-19 there were over 16 trillion of household debt and over 40 per cent of the population making less than 18000 a year. Now, throw over 22 million unemployed with uncertain futures and “rational, middle-of-road” will have a new meaning with keener observation.</p> I think a significant portion…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39017032020-04-20T23:07:51.398ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>I think a significant portion of rational, middle-of-the-road Americans are watching this "bailout" quite closely and will remember how it was structured and applied come election day. Congress will leave out the less powerful at their own risk.</p>
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<p>I think a significant portion of rational, middle-of-the-road Americans are watching this "bailout" quite closely and will remember how it was structured and applied come election day. Congress will leave out the less powerful at their own risk.</p>
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