Gasoline demand high but product supply supply still really high so refiners not making as much as they should. So what happens if refiners don't refine as much? Then demand for oil drops taking and prices fall more. I think that's what's happening now.
Houston..we have a problem....
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Last: 10 hrs ago by Sims
quote:Eventually the cycle flips. Making less then demand will chew through the over supply, and then the refiners will increase production, increasing the demand for oil. You can't stagnate at high demand and voluntary low production for very long.
Gasoline demand high but product supply supply still really high so refiners not making as much as they should. So what happens if refiners don't refine as much? Then demand for oil drops taking and prices fall more. I think that's what's happening now.
Encourage everyone you know to get out on the road and drive!
quote:Refiners are making money since they are paying less for oil so not understanding your logic. Sure, supply is high, but the demand is strong and their margins are way better at $45 then at $85
Gasoline demand high but product supply supply still really high so refiners not making as much as they should. So what happens if refiners don't refine as much? Then demand for oil drops taking and prices fall more. I think that's what's happening now.
Refining margins aren't as high as they were a year ago, but they are still making money.
Agree, but as a whole, their margins are higher than that of ENSCO and the like. Did hear some interesting stuff last night. A few majors are starting to inquire about longer term contracts for offshore drilling etc. Would be good for them, bad for those companies should prices jump to $60+ within the next year or so. They want to lock in lower rates for a longer period which is good business for them.
EIA reports crude stock build of 1.7MM.
http://www.cnbc.com/2016/07/26/oil-dips-to-remain-near-3-month-lows-as-headwinds-persist.html
http://www.cnbc.com/2016/07/26/oil-dips-to-remain-near-3-month-lows-as-headwinds-persist.html
quote:
Encourage everyone you know to get out on the road and drive!
Drove 700 miles in two days.
WTI just dropped a dollar all at once from $43 to $42 after inching up and is still trending down into the $41's. I know, very very short term but makes you wonder whats up.
quote:Drove my big gas guzzling SUV the last few days to work. With hard accelerations and stop and go traffic and I can keep it under 14 mpg!
Encourage everyone you know to get out on the road and drive!
Drive an 75 mile daily round trip in my 5.4L F150!
Driving to Santa Rosa Beach florida on Friday with the family in my wife's big ole suburban
I drive a minimum of 80 miles per day in our families "economical" vehicle, an F150 that averages 18.3mpg.
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Been leaving my pickup running all day and all night...doing my best to drive up demand.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
quote:
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
That's terrible news. Prayers.
quote:damn near criminal my friend; sorry to hear about that.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
That's GE for you.......
quote:
this kind of **** pisses me off so much. you give half your life to a company and they just stick it in dry at the very end. that is such a crock.
Yep. Never make the mistake of assuming your company GAF about you.
quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
quote:Exxon does this continuously and the guys never win their lawsuits. . .quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
Lockheed also does this all the time.
quote:Not nearly enough information provided to make this leap.quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
Pretty much all large companies do it. I've worked for three multi-billion dollar companies and every one of them I can show an example of it happening.
quote:quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
Not sure it was because of age or possible benefits. They are cutting most of the people left. He made the cut when they shut down the foundry and another cut earlier this year. He knew it was coming, but was hoping to hang on until he got his 30 years in.
And I wouldn't say he is old... mid 50s.
quote:Full retirement? Come on. The man was experienced and probably did a lot of good things there. Not having to pay those benefits saves a company a sh8t ton of money my friend. Cold and classless in my book.quote:quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
Not sure it was because of age or possible benefits. They are cutting most of the people left. He made the cut when they shut down the foundry and another cut earlier this year. He knew it was coming, but was hoping to hang on until he got his 30 years in.
And I wouldn't say he is old... mid 50s.
quote:
Cold and classless in my book.
Unfortunately Money is the name of the game and cash is king right meow.
Sorry to hear about your pops, will definitely keep him in my thoughts and prayers
Was the next round of cuts at ConocoPhillips discussed yet?
This is why A) having your retirement tied up in a company pension and B) having your retirement tied up in company stock are bad, risky ideas.
quote:Not here. I heard something like 500 layoffs happening in Houston alone. Supposed to go through around September. No idea how accurate that is. Just what I heard yesterday.
Was the next round of cuts at ConocoPhillips discussed yet?
6% globally, about 1000 people total
500ish in Houston between corporate and Houston based lower 48.
Warn notice first part of August. Layoffs 9/12-9/23.
500ish in Houston between corporate and Houston based lower 48.
Warn notice first part of August. Layoffs 9/12-9/23.
quote:quote:quote:I would tell your dad to speak to a lawyer. Age discrimination and firing someone to avoid an earned benefit are about the only legal grounds available for old white guys.
My dad was let go this week after 29 years at Lufkin Industries. Missed full retirement by 11 months.
Not sure it was because of age or possible benefits. They are cutting most of the people left. He made the cut when they shut down the foundry and another cut earlier this year. He knew it was coming, but was hoping to hang on until he got his 30 years in.
And I wouldn't say he is old... mid 50s.
Agreed. Sounds like he was a casualty to GE completely gutting a once great company. My understanding is that pump jacks, an iconically Texas piece of equipment, will no longer be made in Lufkin.
quote:quote:
Pretty much all large companies do it. I've worked for three multi-billion dollar companies and every one of them I can show an example of it happening.
My dad missed 30 years by one month. Was cut by a major as well.
that is bull****
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