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  1. #351
    The lowest demand it probably 50 years will probably push gas below a buck a gallon everywhere

    Sent from my XT1635-01 using AlpineZone mobile app

  2. #352
    Quote Originally Posted by mbedle View Post
    Wait for what?
    Unless Saudi Arabia & Russia come to a new agreement, and soon, there'll be more oil supply than any time in history starting April 1, 2020.

    And it's going to coincide with a near-record fall in demand due to COVID19.

    So you have massive supply & low demand = falling prices.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  3. #353
    You can add into this that most areas around the globe have been filling the stockpiles while oil is cheap. They are running out of room and starting to ask producers to cut back as there will shortly be no where to put the stuff. Wait until the tankers are all full with no port to head into due to the glut!

    https://fortune.com/2020/03/27/coron...de-production/


  4. #354
    We should be filling the US Strategic Oil Reserve with near record-low oil at a cost of $3B, but we're not for political reasons, so we'll just fill it at a later date $6B to $10B instead. Your government at work.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  5. #355
    JimG.'s Avatar
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    Quote Originally Posted by deadheadskier View Post
    The lowest demand it probably 50 years will probably push gas below a buck a gallon everywhere

    Sent from my XT1635-01 using AlpineZone mobile app
    That would be amazing.

  6. #356
    BG may be able to answer this better than my 3 economics classes from college but I'd say we're bound for a year of deflation rather than inflation.

    Demand is down for pretty much everything, suppliers are going to have to lower their prices to lure people out of their houses. And they can because gas is so cheap the cost of transport is going down rapidly. Less spending and people holding onto their money=less money in the supply chain.
    2019-2020 59 days and holding...
    Thunder Ridge: 12/7, 12/8, 12/21, 12/26, 12/27, 12/28, 12/29, 12/31, 1/4, 1/5, 1/11, 1/17, 1/18, 1/19, 1/26, 2/1, 2/2, 2/8, 2/9, 2/15, 2/16, 2/20, 2/21, 2/22, 2/23, 3/7, 3/8
    Killington: 11/15, 12/16, 12/17, 12/18, 12/19, 12/20, 12/23, 1/3, 1/30, 1/31, 2/13, 2/27, 3/12
    Mount Snow: 11/27, 12/2, 12/24 Sunday River: 1/8, 1/9, 1/10 Greek Peak: 1/13, 1/14 Jiminy Peak: 12/6 Catamount: 12/13, 3/5 Pico: 12/19, 2/28 Mohawk: 12/27 Burke: 1/1 Ragged: 1/2 Wildcat: 1/6 Cannon: 1/7 Jay Peak: 1/23 Mad River Glen: 1/24 Magic: 2/14
    "Skiing is the closest you'll get to flying without leaving the ground." -snowmonster

  7. #357
    MEtoVTSkier's Avatar
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    Quote Originally Posted by BenedictGomez View Post
    We should be filling the US Strategic Oil Reserve with near record-low oil at a cost of $3B, but we're not for political reasons, so we'll just fill it at a later date $6B to $10B instead. Your government at work.
    Trump announced early last week or the week before that they were going to refill the reserves while the price was down.

  8. #358
    Quote Originally Posted by ss20 View Post
    BG may be able to answer this better than my 3 economics classes from college but I'd say we're bound for a year of deflation rather than inflation.

    Demand is down for pretty much everything, suppliers are going to have to lower their prices to lure people out of their houses. And they can because gas is so cheap the cost of transport is going down rapidly. Less spending and people holding onto their money=less money in the supply chain.
    The other side of the coin is that many people are working through this. Some of us are sending our spouse off to the hospital every morning, trying to educate our children during the day all while trying to complete our jobs during odd hours around their schedule. Think about all the medical staff, engineers, lawyers, public sector, etc. The pay checks are still coming in but there is nothing to spend it on and nobody is using vacation time. The result is that when this is over, whenever that may be, many people will be stuffed with cash and vacation time all while wanting to get as far away from their house as possible.
    The true happiness of a man can be found in the mastery of his passions.

  9. #359
    Quote Originally Posted by thebigo View Post
    The other side of the coin is that many people are working through this. Some of us are sending our spouse off to the hospital every morning, trying to educate our children during the day all while trying to complete our jobs during odd hours around their schedule. Think about all the medical staff, engineers, lawyers, public sector, etc. The pay checks are still coming in but there is nothing to spend it on and nobody is using vacation time. The result is that when this is over, whenever that may be, many people will be stuffed with cash and vacation time all while wanting to get as far away from their house as possible.
    That's my thought as well. I don't buy the whole "we're gonna plunge into a recession" bit. When this ends spending is gonna shoot through the roof, the market will be primed for investing, and gas will be at it's lowest price in 15+ years. As long as this stays short-term the economy will stay healthy. Make this a 6 month+ thing and you're in for some trouble.
    2019-2020 59 days and holding...
    Thunder Ridge: 12/7, 12/8, 12/21, 12/26, 12/27, 12/28, 12/29, 12/31, 1/4, 1/5, 1/11, 1/17, 1/18, 1/19, 1/26, 2/1, 2/2, 2/8, 2/9, 2/15, 2/16, 2/20, 2/21, 2/22, 2/23, 3/7, 3/8
    Killington: 11/15, 12/16, 12/17, 12/18, 12/19, 12/20, 12/23, 1/3, 1/30, 1/31, 2/13, 2/27, 3/12
    Mount Snow: 11/27, 12/2, 12/24 Sunday River: 1/8, 1/9, 1/10 Greek Peak: 1/13, 1/14 Jiminy Peak: 12/6 Catamount: 12/13, 3/5 Pico: 12/19, 2/28 Mohawk: 12/27 Burke: 1/1 Ragged: 1/2 Wildcat: 1/6 Cannon: 1/7 Jay Peak: 1/23 Mad River Glen: 1/24 Magic: 2/14
    "Skiing is the closest you'll get to flying without leaving the ground." -snowmonster

  10. #360
    Quote Originally Posted by MEtoVTSkier View Post
    Trump announced early last week or the week before that they were going to refill the reserves while the price was down.
    Yes, he did.

    Then the Democrats nixed it, saying it would be a "bailout of Big Oil", which makes absolutely no sense on multiple levels. But it doesnt matter, most people who will vote Democrat wont understand that, they just hear that Dem leadership did something against big oil companies (they didnt) and will think it's good. It WILL cost America literally billions of dollars, because the SAR does need to be eventually replenished, but hey, that politics. Or something.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



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