You’ll never see $70 oil again.

[oil pan 4]

I’ll go out on a limb and counter the idea that “ things will get back to normal”. The US oil industry will not go back and drill for $70 oil. Harold Hamm set the tone when Continental stopped drilling for $60 oil in North Dakota earlier this year.

I will say I was wrong if it goes back, but let’s see.

I'm sure this won't age well this week.

 

[Snagglefoot]

Yogi Berra said “ It ain’t over till it’s over”.

 

[4wd]

Yogi Berra said “ It ain’t over till it’s over”.

We have come to the fork - they will take it

 

[4wd]

WTI at $80 ?

 

[Snagglefoot]

Deja vu all over again?

 

[GON]

WTI at $80 ?

Unleaded at $3.17 in Abilene Texas Saturday 13JUN2026.

Supplementally- Saturday afternoon 13JUN2026 in Midland Texas all the oil services companies seemed to be working full steam ahead on overtime. Their parking lots were bursting at the seams with parked privately owned vehicles. Baker Hughes, Halliburton, etc-- all appeared to be requiring/ offer overtime last Saturday. Reasonable to assume Sunday would show the parking lots just as full.

Regardless of the past/current/ future of the Strait of Hormuz, a COA I am recommending for our youngest son leaving the Army is to work the Permian Basen oil fields. Looks like a very undesirable place to work and an extremely desirable place for a person to make and save a lot of cash.

 

[perkz]

I've never seen a shortage not followed by a glut.

 

[Snagglefoot]

Unleaded at $3.17 in Abilene Texas Saturday 13JUN2026.

Supplementally- Saturday afternoon 13JUN2026 in Midland Texas all the oil services companies seemed to be working full steam ahead on overtime. Their parking lots were bursting at the seams with parked privately owned vehicles. Baker Hughes, Halliburton, etc-- all appeared to be requiring/ offer overtime last Saturday. Reasonable to assume Sunday would show the parking lots just as full.

Regardless of the past/current/ future of the Strait of Hormuz, a COA I am recommending for our youngest son leaving the Army is to work the Permian Basen oil fields. Looks like a very undesirable place to work and an extremely desirable place for a person to make and save a lot of cash.

But not at $70/bbl.

 

[4wd]

Unleaded at $3.17 in Abilene Texas Saturday 13JUN2026.

Supplementally- Saturday afternoon 13JUN2026 in Midland Texas all the oil services companies seemed to be working full steam ahead on overtime. Their parking lots were bursting at the seams with parked privately owned vehicles. Baker Hughes, Halliburton, etc-- all appeared to be requiring/ offer overtime last Saturday. Reasonable to assume Sunday would show the parking lots just as full.

Regardless of the past/current/ future of the Strait of Hormuz, a COA I am recommending for our youngest son leaving the Army is to work the Permian Basen oil fields. Looks like a very undesirable place to work and an extremely desirable place for a person to make and save a lot of cash.

Gas buddy Houston showing a bunch in the $2.99-$3.19 range

 

[4wd]

I've never seen a shortage not followed by a glut.

Yeah, zillions floating in tankers now …

 

[D1dad]

I filled up for $3.01 in Terra Haute Indiana yesterday. Of course this was after I had to replace a 4 day old Pirelli tire that set me back $250 courtesy of the worst roads in the midwest.

 

[Snagglefoot]

A lot of floating oil will go to filling strategic reserves.