Matters involving Oil (36)
Enjoy it while you can. 
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agman: Enjoy it while you can.
It would be great if I was still working as a truck driver alas I'm not getting any benifit from the crash in oil/gas prices.
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ooby_dooby: 90% of the revenue of Alaska is earned from oil sales.
Alaska is instituting an Income Tax for the first time in 40 years due wholly to low oil prices.
Saudi Aramco, the largest oil company in the world, accounts for 10% of global oil production.
Saudi Arabia continues to pump oil at record levels to regain lost market share, and punish Russia and America in a manner similar to a monkey with its hand stuck in a jar because it refuses to let go of a fist full of candy. Meanwhile The low price of oil they created in doing so actually has put the country in debt and has decimated their financial reserves.
Certainly in America, and possibly other places, short sighted, self absorbed, Yuppy types are altering their transportation choices from small fuel efficient cars to pickup trucks and SUV's. They apparently think historically low oil prices are here to stay.
Last years vehicle sales numbers have been released here , highest selling vehicle is the Ford Ranger , most will never drive on a gravel road , let alone a dirt one . Having run 4x4's because I have to , the last thing you ever want is to push an extra diff along let alone have one extra to repair .Alaska is instituting an Income Tax for the first time in 40 years due wholly to low oil prices.
Saudi Aramco, the largest oil company in the world, accounts for 10% of global oil production.
Saudi Arabia continues to pump oil at record levels to regain lost market share, and punish Russia and America in a manner similar to a monkey with its hand stuck in a jar because it refuses to let go of a fist full of candy. Meanwhile The low price of oil they created in doing so actually has put the country in debt and has decimated their financial reserves.
Certainly in America, and possibly other places, short sighted, self absorbed, Yuppy types are altering their transportation choices from small fuel efficient cars to pickup trucks and SUV's. They apparently think historically low oil prices are here to stay.
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if alaska has its own public banking system, it may not need to introduce income taxes at all but sure carry on!
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epirb: Last years vehicle sales numbers have been released here , highest selling vehicle is the Ford Ranger , most will never drive on a gravel road , let alone a dirt one . Having run 4x4's because I have to , the last thing you ever want is to push an extra diff along let alone have one extra to repair .
When I lived on a farm I had a Renault Black Beauty R5. One day a friend of my then wife called and asked if I could go to town and pick up her RX at the Pharmacy because her driveway was covered with about 6" of snow and she couldn't get out. I got her RX and delivered it to her and noticed a 4WD pickup in the driveway. I asked how come she couldn't just drive to town in that? She said because the rear wheels just keep spinning. 
I said didn't you put it in 4 wheel drive? She said yes but when I asked did you lock the front hubs she said, "What is that?"
I locked the hubs for her and went home.
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ooby_dooby: When I lived on a farm I had a Renault Black Beauty R5. One day a friend of my then wife called and asked if I could go to town and pick up her RX at the Pharmacy because her driveway was covered with about 6" of snow and she couldn't get out. I got her RX and delivered it to her and noticed a 4WD pickup in the driveway. I asked how come she couldn't just drive to town in that? She said because the rear wheels just keep spinning.
I said didn't you put it in 4 wheel drive? She said yes but when I asked did you lock the front hubs she said, "What is that?"
I locked the hubs for her and went home.
A friend of mine bought a second hand 4x4 , rears only working . With rising trepidation of the way her majesty was going to react at further cost he pulled of the hubcaps , nice shinny things soon to be hanging on nails , one hub on , one off . Doubt if the vehicle had ever been in 4 wheel drive .I said didn't you put it in 4 wheel drive? She said yes but when I asked did you lock the front hubs she said, "What is that?"
I locked the hubs for her and went home.
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LOL! Being an Albertan (look us up...we sort of have a connection to oil and gas...) all I can say is Boom and Bust....all part of the game! Now that the US has all those shale reserves in the Dakotas...lol...sucks when there ain't no market! Hell,...my fellow Albertan Corb says it quite well....
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ooby_dooby: It would be great if I was still working as a truck driver alas I'm not getting any benifit from the crash in oil/gas prices.
Have a look at MLPZX and ALPM (Energy INFRASTRUCTURE MLP's). Maybe even ALDW. Prices are in the tank but dividends remain among the highest I've seen.
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Thanks but I steer clear of MLP's Not my style of investing. I'm more into Corp & Muni bond funds. I'm well positioned for a rebound in oil prices maybe TOO well positioned if you get my drift. 2015 has been a tough year as I'm sure you are aware. Better days are ahead I think.
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the WTI and all drilling and fracking companies are tied to
loans that WERE funded by junk bonds and derivatives which are all tanking, I hear/see a big flushing sound, there are tankers sitting in the gulf now with no place to offload, the world demand has slowed to a snails pace, market price has tanked to almost $30.00 a barrel and i see 20 dollar a barrel oil comin, which will unwind the petro dollar to a point that may not be sustainable, countries will be runnin and sellin and dumpin all dollar reserves.
Money is tight for all exploration except a select few exploratory wells , and with the house of saud an iran still pumping as well as all third world countries who cant stop pumping, things dont look so good for the next several years. many private wells here in TX have just been turned off.
loans that WERE funded by junk bonds and derivatives which are all tanking, I hear/see a big flushing sound, there are tankers sitting in the gulf now with no place to offload, the world demand has slowed to a snails pace, market price has tanked to almost $30.00 a barrel and i see 20 dollar a barrel oil comin, which will unwind the petro dollar to a point that may not be sustainable, countries will be runnin and sellin and dumpin all dollar reserves.
Money is tight for all exploration except a select few exploratory wells , and with the house of saud an iran still pumping as well as all third world countries who cant stop pumping, things dont look so good for the next several years. many private wells here in TX have just been turned off.
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crayons: the WTI and all drilling and fracking companies are tied to
loans that WERE funded by junk bonds and derivatives which are all tanking, I hear/see a big flushing sound, there are tankers sitting in the gulf now with no place to offload, the world demand has slowed to a snails pace, market price has tanked to almost $30.00 a barrel and i see 20 dollar a barrel oil comin, which will unwind the petro dollar to a point that may not be sustainable, countries will be runnin and sellin and dumpin all dollar reserves.
Money is tight for all exploration except a select few exploratory wells , and with the house of saud an iran still pumping as well as all third world countries who cant stop pumping, things dont look so good for the next several years. many private wells here in TX have just been turned off.
you are simply wrong on the dollar . With China in a tailspin along with their stockmarket which is the reason there was demand for oil when it was booming must now be the reason its (oil) dropping . The US dollar is the safe haven fullstop . I am surprised you have so little faith in your currency , if you don't like it , give it all to me . And what may I ask do you think reserves are being put into , roubles , Euro perhaps shinny stones . With US interest rates rising the US$ is where its at .loans that WERE funded by junk bonds and derivatives which are all tanking, I hear/see a big flushing sound, there are tankers sitting in the gulf now with no place to offload, the world demand has slowed to a snails pace, market price has tanked to almost $30.00 a barrel and i see 20 dollar a barrel oil comin, which will unwind the petro dollar to a point that may not be sustainable, countries will be runnin and sellin and dumpin all dollar reserves.
Money is tight for all exploration except a select few exploratory wells , and with the house of saud an iran still pumping as well as all third world countries who cant stop pumping, things dont look so good for the next several years. many private wells here in TX have just been turned off.
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ooby_dooby: 90% of the revenue of Alaska is earned from oil sales.
Alaska is instituting an Income Tax for the first time in 40 years due wholly to low oil prices.
Saudi Aramco, the largest oil company in the world, accounts for 10% of global oil production.
Saudi Arabia continues to pump oil at record levels to regain lost market share, and punish Russia and America in a manner similar to a monkey with its hand stuck in a jar because it refuses to let go of a fist full of candy. Meanwhile The low price of oil they created in doing so actually has put the country in debt and has decimated their financial reserves.
Certainly in America, and possibly other places, short sighted, self absorbed, Yuppy types are altering their transportation choices from small fuel efficient cars to pickup trucks and SUV's. They apparently think historically low oil prices are here to stay.
Alaska is instituting an Income Tax for the first time in 40 years due wholly to low oil prices.
Saudi Aramco, the largest oil company in the world, accounts for 10% of global oil production.
Saudi Arabia continues to pump oil at record levels to regain lost market share, and punish Russia and America in a manner similar to a monkey with its hand stuck in a jar because it refuses to let go of a fist full of candy. Meanwhile The low price of oil they created in doing so actually has put the country in debt and has decimated their financial reserves.
Certainly in America, and possibly other places, short sighted, self absorbed, Yuppy types are altering their transportation choices from small fuel efficient cars to pickup trucks and SUV's. They apparently think historically low oil prices are here to stay.
I think that the American frackers are the world's new swing producers. This is a very powerful position to hold. Saudi Arabia held it for years. They decided to set artificially high oil prices. The American frackers will drill once profit is available. What we see now is a purely competitive market. Saudi Arabia are been punished by the market for years of high artificial price setting. It will be interesting how this plays out....
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epirb: you are simply wrong on the dollar . With China in a tailspin along with their stockmarket which is the reason there was demand for oil when it was booming must now be the reason its (oil) dropping . The US dollar is the safe haven fullstop . I am surprised you have so little faith in your currency , if you don't like it , give it all to me . And what may I ask do you think reserves are being put into , roubles , Euro perhaps shinny stones . With US interest rates rising the US$ is where its at .
It can work in reverse, epirb. One could send $200,000 USD over to NZ and make roughly 85,000 NZD in the process. The interest for term accounts there ae much higher than here (I think about 4 to 5 percent now?). So now you are not only getting higher interest, but higher interest on MORE MONEY.
The only trick is whether you can wait to repatriate the money when the currency rates are cooperating.
But I can tell you, interest rates on savings here aren't going anywhere anytime soon. That little tiny thing Yellen did the other day is about all we'll see anytime soon. And now that the market is down some 800 points, investors have NOWHERE to go to earn income on their savings
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WhatUwish4: It can work in reverse, epirb. One could send $200,000 USD over to NZ and make roughly 85,000 NZD in the process. The interest for term accounts there ae much higher than here (I think about 4 to 5 percent now?). So now you are not only getting higher interest, but higher interest on MORE MONEY.
The only trick is whether you can wait to repatriate the money when the currency rates are cooperating.
But I can tell you, interest rates on savings here aren't going anywhere anytime soon. That little tiny thing Yellen did the other day is about all we'll see anytime soon. And now that the market is down some 800 points, investors have NOWHERE to go to earn income on their savings
4.1 % 5 year term bank deposit , with US interest rates lifting its putting downward pressure on our $ , should lift deposit rates soon I hope . At least the movement is up in the US .The only trick is whether you can wait to repatriate the money when the currency rates are cooperating.
But I can tell you, interest rates on savings here aren't going anywhere anytime soon. That little tiny thing Yellen did the other day is about all we'll see anytime soon. And now that the market is down some 800 points, investors have NOWHERE to go to earn income on their savings
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epirb: 4.1 % 5 year term bank deposit , with US interest rates lifting its putting downward pressure on our $ , should lift deposit rates soon I hope . At least the movement is up in the US .
Sounds about right. I checked ASB the other day and think they were at 4,but they seem to trend lower than the others. I was shopping CD rates here yesterday. Best I cold find IN THE NATION was 2.45% for 5ive years - and they dropped that rate yesterday.
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WhatUwish4: Sounds about right. I checked ASB the other day and think they were at 4,but they seem to trend lower than the others. I was shopping CD rates here yesterday. Best I cold find IN THE NATION was 2.45% for 5ive years - and they dropped that rate yesterday.
Your banks have not got with the program yet . Problem is money is flowing into the US at the moment . Come back to what I have been saying , its a haven . You would need a lot of money to live off with interest rates at 2.45 . You recall saying to me last US election that our rates were 6 % , that was after the damage of the GFC hit interest rates 
as 1-1.5 higher were around before that 
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epirb: Your banks have not got with the program yet . Problem is money is flowing into the US at the moment . Come back to what I have been saying , its a haven . You would need a lot of money to live off with interest rates at 2.45 . You recall saying to me last US election that our rates were 6 % , that was after the damage of the GFC hit interest rates as 1-1.5 higher were around before that . Can only dream now .
I do recall. Still, you can have a savings account there (regular savings) that pays more interest than we can get for a five-year CD here. So my interest is getting better interest than anything here. AS for living off 2.45%...I wouldn't want to try it! Back to the $200K number... that's maybe $6,000 a year, and most Americans don't have close to that much in savings.
Hell...Obamacare costs at least $9,000 a year!
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What I'm curious about (and a little apprehensive), is why the bank I was shopping lowered their rate this week. I wonder if the huge market drop has them worried. I know real estate in my normally "good" market has come to a stand still in this past month and prices are getting cut all around me. I don't think we are close to being able to rely on Obama's numbers. Government jobs take AWAY from the value as they are tax=payer supported.
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ooby_dooby: Thanks but I steer clear of MLP's Not my style of investing. I'm more into Corp & Muni bond funds. I'm well positioned for a rebound in oil prices maybe TOO well positioned if you get my drift. 2015 has been a tough year as I'm sure you are aware. Better days are ahead I think.
Not my style either normally, but these days I'm all about moving eggs into multiple baskets.
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Created: Jan 2016
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- One week of the most outrageous GOP leadership!
- Why is this shameful?
- Democrats destroyed America
- I'm a 53 YEAR'S YUNG MAN that lives back in the 80s
- Have it both ways!
- The weird and the random facts around the world
- your favorite topic?
- Would you hire this guy - for any job?
- What happened to CS while i was away.. (Long time)
- Gal / sdarlagg passed away on April 10, 2024
Alaska is instituting an Income Tax for the first time in 40 years due wholly to low oil prices.
Saudi Aramco, the largest oil company in the world, accounts for 10% of global oil production.
Saudi Arabia continues to pump oil at record levels to regain lost market share, and punish Russia and America in a manner similar to a monkey with its hand stuck in a jar because it refuses to let go of a fist full of candy. Meanwhile The low price of oil they created in doing so actually has put the country in debt and has decimated their financial reserves.
Certainly in America, and possibly other places, short sighted, self absorbed, Yuppy types are altering their transportation choices from small fuel efficient cars to pickup trucks and SUV's. They apparently think historically low oil prices are here to stay.