Gas tankers??

Now is the time to invest in oil stock.
It's going to rise soon

 

How does all of that work? Anyone know?

 

I don't know about oil itself but you can buy stock in Chevron or haliburton or whatever.

I'm not sure on ticket symbols and no idea on contracts for oil.

 

I'd hold off a bit on Exxon mobil stock. Closed at $40.96 today. Was $31.45 back in March. Probably fall at least back down to that point again.

 

The producers will have to pay whoever to take delivery.

The problem with the person taking delivery he or she needs storage. The problem is Cushing is the designated storage and is operational max in 10 days to 15 days give or take. The SPR will also be at max when they finish the last of the 75 million purchasing.

There is about 100 billion for delivery June which no one wants because there is no storage. Period. Spill it out into the ground. Half a billion due to deliver to Sept this year in total each month from now to them. there is NO room. No demand.

Gas stations will NOT pay you to fill up. What they are doing is probably buying at 10 cents a gallon on the rack and then turn around and charge you 1.50 or 2.50 (For diesel..) and make their margin before a systematic halt when the producers either go out of business or simply close and go home for a while.

There are 60 VLCC Supertankers in storage only. Sit there at anchor and do nothing but chip rust. There are a total of 850 VLCC in the world give or take. Plus lesser amounts of smaller tankers. They pretty much just idle. No work for them. No demand to deliver to anywhere at any price even below free.

Once Brent (North Sea) falls below zero and the middle east oil becomes worthless below zero War becomes a real possibility when the incomes for those nations like Iran stops. Oil would have become a LIABILITY. Whoever has it will have to pay someone to take it.

Pass the hot potato is the game now every open day at the Oil Market. Someone is going to be left holding a very expensive bag that will consume them financially and BK them in due time. If they think to store the oil and go home? In a few months its rotten. No good. Throw it away.

Thats why its negative already. You cannot give it away and you cannot just leave it in the ground. Might have to. In the mean time everyone is pumping.

There is a real possibility that trucking, trains, ships, planes, and you and your car will stop this year by Sept when there is no place open selling fuel because again no one will pay you to fill up.

 

Breaking up this post into two parts.

I learned a few minutes ago that Chevron has been formally ordered to shut down and GET OUT of Venezuela by 1 Dec totally and absolute. Whatever they owned there, property, buildings, oil, storage etc. are left behind. They are currently pumping about 35000 B/D. That will stop totally.

Venezuela's Government will be expected to essentially turn this asset into a run down hollowed out shadow of itself for it's personal gain. Not for the People or Nation. So Chevron will pretty much write off the entire investment in Venezuela as a loss. We have been taking oil from there since 1920's and Chevron is the very last American company still standing there. today. They will be gone. And it will be left to rust among the current Venezuelan leadership without the workers or means to profit from the oil there.

Two reasons. There is no point in taking oil from there if you cannot put it somewhere here in the USA. And the other is a economic one to destroy the current Regime of that nation peacefully without a military invasion and overthrow. It will be expected to be destroyed under their own rot and drugs that we have begun to deploy to intercept before they get to the USA at sea.

We buy heating oil twice annually for the house. It will be very interesting to see what the charges are or the checks made to us on delivery when that time comes later this year.

 

Chevron just got told to wind down Venezuela operations by dec.1

Storage fees just went from $10g to $150g PER DAY.

I'm watching CNBC.

 

There are 60 VLCC Supertankers in storage only. Sit there at anchor and do nothing but chip rust. There are a total of 850 VLCC in the world give or take. Plus lesser amounts of smaller tankers. They pretty much just idle. No work for them. No demand to deliver to anywhere at any price even below free.


Absolutely correct however approximately 12 or so hiking to China

 

People are idiots, you know what will happen. These pickup truck dealers probably giving these fuel guzzlers away, and this foolishness will end, fuel will go up to $5/gallon to make up for this, and people with their heads in their hands and an 84 month loan,,,