Well we officially have to pay for people to take WCS oil

[pfi572]

A lot of companies have hedged pricing also for times like this .
I think those contracts have to be met as well .

 

[catalac]

Ah yes forgot about hedged production... wait till those contracts expire, yikes.

 

[gunner3006]

A lot of companies have hedged pricing also for times like this .
I think those contracts have to be met as well .

We’re going to see who’s hedged for the long haul I’m guessing. It’s not just as easy as swinging a valve closed.

 

[S.W.A.T.]

All based on end of may sales, what you see today is sold at least 30 days down the road.

 

[freeflorider]

All based on end of may sales, what you see today is sold at least 30 days down the road.

Still at .96 cent here, so we should see free gas coming then.

 

[Caper11]

 

[freeflorider]

I found it on gas buddy. Not to far out it’s .65 cents, hoping there starting a trend so others will fallow. Heading to Edmonton, might bring a few tidy tanks and load up.

 

[Cyle]

Still at .96 cent here, so we should see free gas coming then.

Hilarious. Like always the savings won't be passed onto the pumps. The irony is, if the savings was passed on you would see a lot more demand with people stocking up. If diesel hit 50c i'd be storing 10,000L easy.

 

[freeflorider]

Hilarious. Like always the savings won't be passed onto the pumps. The irony is, if the savings was passed on you would see a lot more demand with people stocking up. If diesel hit 50c i'd be storing 10,000L easy.

Lol just said that to myself. be helping myself to a few tanks at Ritchie bro Edmonton sale and bring them home full.

 

[nathan#19]

Hilarious. Like always the savings won't be passed onto the pumps. The irony is, if the savings was passed on you would see a lot more demand with people stocking up. If diesel hit 50c i'd be storing 10,000L easy.

Already filled up one tank at .48c.
Died bulk delivery.

 

[Cyle]

Lol just said that to myself. be helping myself to a few tanks at Ritchie bro Edmonton sale and bring them home full.

I wouldn't count on any deals there.

 

[Cyle]

Already filled up one tank at .48c.
Died bulk delivery.

Just looked, my pricing is 66c on dyed.

 

[S.W.A.T.]

Still at .96 cent here, so we should see free gas coming then.

Nope, between trucking and taxes you won't see less than what you pay now.

 

[ABMax24]

So many people are worried about job losses from Coronavirus, the way things are going most of us in Alberta still won't have jobs to go back to once the virus passes.

 

[j335]

Hedges are a financial hedge and not a physical hedge (at least most hedges I’ve been involved in). You actually don’t need to produce those barrels to receive the cheque.

I wonder how much liquidity these hedging institutions actually have.. I have a sneaking suspicion you’ll see some companies default on payments to oil companies.

 

[j335]

So many people are worried about job losses from Coronavirus, the way things are going most of us in Alberta still won't have jobs to go back to once the virus passes.

Scary for sure will be more negative today as WTI is $11 this morning.

 

[freeflorider]

Nope, between trucking and taxes you won't see less than what you pay now.

Was hoping to see better prices at the pump over this. Funny that it’s at .95 cents yet the Selling price of the product is going negative.
someone in the game is still making big bucks.

 

[rmk600700]

Was hoping to see better prices at the pump over this. Funny that it’s at .95 cents yet the Selling price of the product is going negative.
someone in the game is still making big bucks.

that has always been the way it works. That is why the big boys in the oil game have production and refining. When oil prices are low the refinery makes the cash when oil is up the oil production pays the bills. There is a large expense to refining and people forget and only see the price of oil but one way or the other the consumer always pays!

 

[freeflorider]

I wouldn't count on any deals there.

With the big downturn there must be a few things selling cheap. GP was higher then I though but with some much equipment in Edmonton I was hoping... so your prediction is a strong sale in Edmonton then.
I can never guess, all over the map.

 

[freeflorider]

that has always been the way it works. That is why the big boys in the oil game have production and refining. When oil prices are low the refinery makes the cash when oil is up the oil production pays the bills. There is a large expense to refining and people forget and only see the price of oil but one way or the other the consumer always pays!

Im seeing it like when oil prices are low the refinery makes money and when oils up THEY both make money. Workers incomes goes up and down while the fat cats ride around on the magic carpet.