Gas Prices

[NitroZ7]

Watched this video and was a pretty interesting take on oil/gas:

[boneil]

CNBC has a few videos with the Exxon CEO. It's clear the direction they are heading in and it doesn't involve building new refineries. In fact Exxon is planning on a future, 2040 where all vehicles are EV or similar.

[boneil]

Reutuers is reporting that comments where made at the G7 conference about Saudi and UAE being near their limit for oil capacity. If thats true, and thats a big if, then only recessions and covid lockdowns in China can prevent $150 oil

[TampaJim]

Yes, +$150 is possible. A global recession, or severe lockdowns, will need to occur quickly, or we're there.
On the other side, we could see ~$75 if a few major economies see a big swing into the abyss by the fall.
And, I guess, it's always possible to see $50-60 again, if everything goes to squat at the very same time.
The wildcard is still Russia and Ukraine. If the war drags out, at current levels, or it expands, it's not good.

Sri Lanka is screwed. Populist tax cuts caused the country to default. Importing crude isn't possible now.
Personally, we would prefer to pay $8/gallon (not uncommon elsewhere) rather than have a dried up tank.

[TampaJim]

News from Panama ...

Bonus bump ... looks like Ecuador could be offline very, very soon, civil unrest.
Production is roughly equivalent to the upcoming OPEC increase for July & August.
Wanna play it, be my guest. There's money to be grabbed up, more to be lost.