RE:RE:RE:RE:RE:RE:APIObviously, the initial pop in wti to above 60 that came from reports that the cold snap in Texas has crippled production is reversing as the cold snap is basically coming to an end and power is being restored to most parts of the state. Bloomberg is reporting that some oil companies have begun the process of restarting production in the Eagle Ford: https://www.bnnbloomberg.ca/texas-oil-patch-is-starting-to-resume-operations-after-cold-snap-1.1565557 Is the fall in wti unwarranted? Perhaps, but then again there are those who argued that the Texas decline is a fairly fleeting blip on the supply side. The less bullish aspects of the cold snap in Texas is the crippling of refineries in the area, which may negatively impact demand for crude, but lead to a supply crunch for refined products. https://finance.yahoo.com/news/gulf-coast-fuel-makers-could-174650789.html
Backinblack1000 wrote: It might be quite possible, if there is no electric out to some of their sites...some with battery back up..might be good for 8 hours...after that....not......then their backup supplies...probably run a day, maybe two...with say back up diesel, after that runs out, then what? Depending on how wide spread the no electric is, I guess...and of course, how are you going run and get diesel, if ya got no gas in your truck....food for thought...before first java....
good hedges on 40%, and the other freewheeling looks good here...quick ratio check on oil and gas ratio....?? anyone........
Maxmoe wrote: Doesn't make sense that 3.5 million b/d is "frozen". We have no problem producing all winter in Alberta, Alaska, Siberia. I ain't buyin.