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Thread: Oil prices

  1. #2576

    Default Re: Oil prices

    Quote Originally Posted by Rover View Post
    True. But O&G and commercial real estate have huge breaks most don’t enjoy.
    Do you have any info to back that up? Im genuinely curious as i haven’t compared the P&L tax deductions available across the board.

  2. #2577

    Default Re: Oil prices

    Quote Originally Posted by PhiAlpha View Post
    Do you have any info to back that up? Im genuinely curious as i havenít compared the P&L tax deductions available across the board.
    The ability for O&G companies to deduct IDCs, write off tangible drilling costs, plus standard DD&A is extremely advantageous.

    Real estate has numerous options for reducing or deferring debt (deducting expenses, depreciation, 1031 exchanges, pass-through deductions, etc.)

  3. #2578

    Default Re: Oil prices

    Quote Originally Posted by sooner88 View Post
    The ability for O&G companies to deduct IDCs, write off tangible drilling costs, plus standard DD&A is extremely advantageous.

    Real estate has numerous options for reducing or deferring debt (deducting expenses, depreciation, 1031 exchanges, pass-through deductions, etc.)
    I definitely agree, I just wasn’t aware that there weren’t also advantageous deductions in other mining industries or other industries.

  4. #2579

    Default Re: Oil prices

    if you took that i was saying zero percent would be used domestically, that wasn't what was intended. I just think that TC Energy has made it pretty clear they are intent on sending a majority of the refined products to the international market after their splits with ConocoPhillips on interests in production areas, as well as stake in keystone itself. i'm much more positive about projects like Enbridge 3. Enbridge has a longer track record of willing to keep their refined products back to Canada and in the US

  5. #2580
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    Default Re: Oil prices

    Quote Originally Posted by chssooner View Post
    Because what goes up, must come down. The oil producers get bashed when they don't over-hire and extend too far, then get bashed when they have to let people go because of lower prices. So they are just going to stay status quo.

    And this isn't just Oklahoma oil producers, but pretty much all around the country. They are learning from past mistakes.
    The lack of interest to increase oil drilling in Oklahoma is reflected from the lack of earthquakes going on in Oklahoma for the past week. Only 3 or so weak ones. During the wildly booming past, that figure would often be over 60 earthquakes. I bet the problem from earthquakes doesn't help encourage increased drilling in Oklahoma. Earlier this year, due to a 4.5 earthquake in northern Oklahoma, the state corporation commission had to make restrictions on oil companies in the area affected.

    Recent Oklahoma Earthquakes: https://stillwaterweather.com/okareaearthquakes

  6. Default Re: Oil prices

    Quote Originally Posted by Bunty View Post
    The lack of interest to increase oil drilling in Oklahoma is reflected from the lack of earthquakes going on in Oklahoma for the past week. Only 3 or so weak ones. During the wildly booming past, that figure would often be over 60 earthquakes. I bet the problem from earthquakes doesn't help encourage increased drilling in Oklahoma. Earlier this year, due to a 4.5 earthquake in northern Oklahoma, the state corporation commission had to make restrictions on oil companies in the area affected.

    Recent Oklahoma Earthquakes: https://stillwaterweather.com/okareaearthquakes
    It's not really part of the current calculus at all.

  7. #2582

    Default Re: Oil prices

    Some good info in here, appreciate the input from you guys. How high do you think gas prices get and how many months before we maybe see some relief? Both of our vehicles call for 91 octane and it's adding up already. Really feel for people already going month to month. Inflation with current oil crises and war are going to make it much more difficult for a lot of folks.

  8. #2583

    Default Re: Oil prices

    Quote Originally Posted by OKCRealtor View Post
    Some good info in here, appreciate the input from you guys. How high do you think gas prices get and how many months before we maybe see some relief? Both of our vehicles call for 91 octane and it's adding up already. Really feel for people already going month to month. Inflation with current oil crises and war are going to make it much more difficult for a lot of folks.
    Unless you are racing your vehicle, you can get away with using 87. Your car's computer will retard the timing if it sees any detonation. Something that may only happen during the summer once the temps increase.

  9. #2584

    Default Re: Oil prices

    Quote Originally Posted by OkiePoke View Post
    Unless you are racing your vehicle, you can get away with using 87. Your car's computer will retard the timing if it sees any detonation. Something that may only happen during the summer once the temps increase.
    One is a BMW which I lease. The dealership told me they can tell when it's hooked up to computer if the car has had less than 91..any insight on that? BS? Our other vehicle I'm not worried about as we own it outright and have an extended warranty and it runs fine on 87 but I don't want to mess around with the BMW since it's a lease.

  10. #2585

    Default Re: Oil prices

    Quote Originally Posted by OKCRealtor View Post
    One is a BMW which I lease. The dealership told me they can tell when it's hooked up to computer if the car has had less than 91..any insight on that? BS? Our other vehicle I'm not worried about as we own it outright and have an extended warranty and it runs fine on 87 but I don't want to mess around with the BMW since it's a lease.
    They may be looking at the timing curves and see when it retards the timing to compensate for the lower octane fuel. I'm not sure if that is indeed a thing, but seems plausible with the data loggers these cars have now a days.

  11. #2586

    Default Re: Oil prices

    Quote Originally Posted by OKCRealtor View Post
    One is a BMW which I lease. The dealership told me they can tell when it's hooked up to computer if the car has had less than 91..any insight on that? BS? Our other vehicle I'm not worried about as we own it outright and have an extended warranty and it runs fine on 87 but I don't want to mess around with the BMW since it's a lease.
    Dependent on the model I would make sure to run 91 in it. I'd read the manual. If it says 91 is required then do it.

  12. #2587
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    Default Re: Oil prices

    Quote Originally Posted by April in the Plaza View Post
    It's not really part of the current calculus at all.
    In other words, it has much to do with the highly volatile price of oil. Today it plunged to $15 or more. As well as other issues already brought up.

  13. #2588

    Default Re: Oil prices

    Quote Originally Posted by jedicurt View Post
    if you took that i was saying zero percent would be used domestically, that wasn't what was intended. I just think that TC Energy has made it pretty clear they are intent on sending a majority of the refined products to the international market after their splits with ConocoPhillips on interests in production areas, as well as stake in keystone itself. i'm much more positive about projects like Enbridge 3. Enbridge has a longer track record of willing to keep their refined products back to Canada and in the US
    Gotcha. Shouldn’t have made that assumption.

  14. #2589

    Default Re: Oil prices

    Quote Originally Posted by Bunty View Post
    In other words, it has much to do with the highly volatile price of oil. Today it plunged to $15 or more. As well as other issues already brought up.
    Yes it’s been about as wild to watch over the last week or two as it was back in March-April 2020. Though no doubt from an industry and OK economy perspective, I much prefer these fluctuations over those lol. Who would’ve thought we’d get to watch the commodity market react on opposite ends of the spectrum to two events that seem slightly apocalyptic (obviously that’s an exaggeration but still lol) over the span of two years? We’ve seen a price swing of $165/bbl (WTI) in under 23 months and there’s a decent chance that it may end up a $200 swing when all is said and done. Never thought I’d see anything like that.

    That said, it’s great that things have settled down a bit. Though we’re still at the highest WTI price since 2008, at least it’s jumped off the rocket for a minute.

  15. Default Re: Oil prices

    Natural gas prices are high, wonder if if continues. I tried to paste a natty price chart in, but I'm having copy/ paste/embed issues.

    Link instead:

    https://finviz.com/futures_charts.ashx?p=d1&t=NG

  16. #2591

    Default Re: Oil prices

    Gasoline prices are now under $3.40 in spots with some even lower than that.

    Looks like we could be below $3 before long.

  17. #2592

    Default Re: Oil prices

    Quick search on Gasbuddy.com reveals some area stations are already below the $3 mark:


  18. #2593

    Default Re: Oil prices

    I like hearing that. Cheapest I've actually seen is 3.41 this morning. But it's been dropping almost daily for at least a week.

  19. #2594

    Default Re: Oil prices

    Quote Originally Posted by Bits_Of_Real_Panther View Post
    Natural gas prices are high, wonder if if continues. I tried to paste a natty price chart in, but I'm having copy/ paste/embed issues.

    Link instead:

    https://finviz.com/futures_charts.ashx?p=d1&t=NG
    You should look up the spot price for NG in Europe, it’s about 7-8X more than in the US. I don’t see it going down much, especially rolling into the winter. A lot of the US supply will be going to Europe unless something dramatically changes with the Russian war.

  20. #2595

    Default Re: Oil prices

    Quote Originally Posted by soonergolfer View Post
    You should look up the spot price for NG in Europe, itís about 7-8X more than in the US. I donít see it going down much, especially rolling into the winter. A lot of the US supply will be going to Europe unless something dramatically changes with the Russian war.
    I heard a piece on NPR recently about Europe quickly building a few liquified NG offloading and storage facilities for product that will be exported from here. So that will keep our domestic NG prices up.

  21. #2596

    Default Re: Oil prices

    Quote Originally Posted by Bill Robertson View Post
    I heard a piece on NPR recently about Europe quickly building a few liquified NG offloading and storage facilities for product that will be exported from here. So that will keep our domestic NG prices up.
    How much LNG gets used domestically? I thought most of it is CNG?

    How much would a rise in LNG costs affect CNG? I imagine it wouldn't be 1:1, but a full understanding of commodities pricing has always eluded me, lol.

  22. #2597

    Default Re: Oil prices

    Quote Originally Posted by BDP View Post
    How much LNG gets used domestically? I thought most of it is CNG?

    How much would a rise in LNG costs affect CNG? I imagine it wouldn't be 1:1, but a full understanding of commodities pricing has always eluded me, lol.
    Both LNG and CNG come from natural gas - natural gas can be compressed (CNG) or liquified (LNG) as a way to transport the gas, such as using a ship. Bill is saying that the increase in demand (for either of those products really) will drive up the cost of natural gas here, even if it’s used domestically and not turned into LNG or CNG.

  23. #2598

    Default Re: Oil prices

    Quote Originally Posted by BDP View Post
    How much LNG gets used domestically? I thought most of it is CNG?

    How much would a rise in LNG costs affect CNG? I imagine it wouldn't be 1:1, but a full understanding of commodities pricing has always eluded me, lol.
    There are limits to how much LNG they can get out of the country, both as far as facilities and ships to transport it, which is a tiny fraction of domestic use. So they are not exactly tied, and this is on top of there are a range of costs to cool it to the point of being a liquid and storying it that way which does not effect CNG.

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