General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsLooks like OPEC knew what it was doing two weeks ago
Holy hell this is a slaughterhouse.
Bernardo de La Paz
(49,020 posts)lame54
(35,302 posts)Renew Deal
(81,866 posts)It doesn't seem like a good thing. I know that it means US oil is probably going to get idled, but what about other effects?
TexasTowelie
(112,321 posts)States like Texas and Alaska do have rainy day funds, but others like New Mexico, Louisiana, and Pennsylvania are definitely looking at cutting budgets and laying off employees.
roamer65
(36,745 posts)Once storage is gone, oil producers will have to shut off production.
We should be pumping all we can and more into the strategic reserve.
exboyfil
(17,865 posts)We cancelled a sale and Trump pushed to buy more. It only represented four days of use to fill it up if I remember correctly.
I don't think there is anyplace to put anymore (some proposals on the table to put it in rail car but that creates a whole new set of problems).
Even with slashing CAFE standards, I got to believe we have reached and already moved off of peak oil consumption for the the rest of our epoch. By the time travel returns to previous highs (probably driven by population growth) we will see electric as having a significant presence.