The Energy Thread

[The_Tick]

Best wishes, GM. That is rough.

It is nervous indeed. We just opened escrow in a place on Tuesday. Smart time right now? Who knows...but I am going to start working on my Master of Arts in Teaching...because I'm tired of this bullshit.

[Uncle Ted]

CV19 and the price war has put me in a precarious position. I’m the last lawyer my company hired. First one out? They’re slashing costs and I’m in the midst of a relocation, where they cover moving costs, temporary housing, and closing costs. So much could happen between now and the time I’m supposed to close on my new house.

And yet, I have a weird sense of calm. If I’m canned, I have savings. I am actually sort of excited at the prospect of going into something other than oil and gas.

Man, I am really sorry to hear this, GM. I have a lot of friends (including you on here) in the oil business. I am worried about Moli too. It really sucks that the Russians and Saudis decided to get into a pissing match in the middle of a global pandemic. I really hope that OPEC+ can just get their sh*t together.

I really hope for the best for you and your family.

[Uncle Ted]

It is nervous indeed. We just opened escrow in a place on Tuesday. Smart time right now? Who knows...but I am going to start working on my Master of Arts in Teaching...because I'm tired of this bullshit.

Hey, be sure to learn everything you can about tele-teaching and distance learning. That might quickly become the new norm.

"Ready Player One" might be a good movie to watch or book to read while you are stuck at home.

[Color Me Badd Fan]

CV19 and the price war has put me in a precarious position. I’m the last lawyer my company hired. First one out? They’re slashing costs and I’m in the midst of a relocation, where they cover moving costs, temporary housing, and closing costs. So much could happen between now and the time I’m supposed to close on my new house.
And yet, I have a weird sense of calm. If I’m canned, I have savings. I am actually sort of excited at the prospect of going into something other than oil and gas.

This must be horrible to go through. Oil has rebounded a bit today and I can't imagine it staying very long at half its post 1980. I put some money into an oil ECF that was 48 cents a share that was at $22 a month ago. Please no "hasn't he suffered enough" posts.

[Bo Diddley]

This must be horrible to go through. Oil has rebounded a bit today and I can't imagine it staying very long at half its post 1980 value for long. I put some money into an oil ECF that was 48 cents a share that was at $22 a month ago. Please no "hasn't he suffered enough" posts.

23%, best day ever. Of course the value was so low, 23% wasn't that much. Still, in the right direction.

[Moliere]

Man, I am really sorry to hear this, GM. I have a lot of friends (including you on here) in the oil business. I am worried about Moli too. It really sucks that the Russians and Saudis decided to get into a pissing match in the middle of a global pandemic. I really hope that OPEC+ can just get their sh*t together.

I really hope for the best for you and your family.

I'm good. LTI value is down a lot and I doubt we'll get bonuses in for 2020 (maybe salary will get cut, but who knows?) but I'm a long-tenured employee at my company and we are actually in a much better position than most. I guess it pays to be diligent in hedging and not getting over your skiis in good times. We have issues we are dealing with, but they are manageable so far and if crude coems back up over $35/barrel in the near term and hopefully above $45/barrel in the long term we'll be fine. There are a lot of companies that took some unnecessary risks that are going to go bankrupt.

[Pelado]

This must be horrible to go through. Oil has rebounded a bit today and I can't imagine it staying very long at half its post 1980. I put some money into an oil ECF that was 48 cents a share that was at $22 a month ago. Please no "hasn't he suffered enough" posts.

After reading this earlier today, I bought a position in an energy sector ETF. It's already up over $31. Thanks!

[Uncle Ted]

I'm good. LTI value is down a lot and I doubt we'll get bonuses in for 2020 (maybe salary will get cut, but who knows?) but I'm a long-tenured employee at my company and we are actually in a much better position than most. I guess it pays to be diligent in hedging and not getting over your skiis in good times. We have issues we are dealing with, but they are manageable so far and if crude coems back up over $35/barrel in the near term and hopefully above $45/barrel in the long term we'll be fine. There are a lot of companies that took some unnecessary risks that are going to go bankrupt.

Good to hear, Moli. Check in now and then so we know what you are up.

I heard the Russians think they can play this game for like five years. Maybe some can convince the rest of the world (or at least the so called NATO partners) to just not buy their stink'n dirty oil.

[beefytee]

Looking up the markets for the Covid thread, I saw where the price of oil is. Ouch.

This is greatly affecting my extended family as 2 of my brothers are directly in the oil economy.

I hope everyone on here in the oil field hasn't been affected too badly.

[cowboy]

Yes. The big problems with winds and solar are: timing and transmission. If you could harness these energy sources to make gas & diesel, wow. Game changer.

I talked with a solar power lease hound the other day who says they (Mitsubishi) have technology to store electricity through electrolysis and mix the hydrogen with natural gas. I've wondered for a long time about electrolysis, but I thought compressing it would be too costly. It was an interesting conversation.

[Katy Lied]

Another Energy Efficiency Problem: Leaky Grid. The US loses about 6% in transmission. India loses almost 20% in their transmission lines. Iraq is over 50%! I guess they dont care because they have a lot of oil, but other third world countries lose that much as well.

Power pole in New Delhi

[Lost Student]

Another Energy Efficiency Problem: Leaky Grid. The US loses about 6% in transmission. India loses almost 20% in their transmission lines. Iraq is over 50%! I guess they dont care because they have a lot of oil, but other third world countries lose that much as well.

Power pole in New Delhi

A pretty common thing to see in Brazil too.

[Jeff Lebowski]

Another Energy Efficiency Problem: Leaky Grid. The US loses about 6% in transmission. India loses almost 20% in their transmission lines. Iraq is over 50%! I guess they dont care because they have a lot of oil, but other third world countries lose that much as well.

Power pole in New Delhi

I was blown away by this stuff in Katmandu. Way worse than what was shown in the New Delhi photo. And the power would go out for a few minutes several times a day.

[Donuthole]

I was blown away by this stuff in Katmandu. Way worse than what was shown in the New Delhi photo. And the power would go out for a few minutes several times a day.

Yeah, that picture KL posted would be the tidiest junction box in Guatemala City.

[Uncle Ted]

Stoopid wind power...

https://www.statesman.com/story/news...on/4483230001/

Frozen wind turbines hamper Texas power output, state's electric grid operator says

Nearly half of Texas' installed wind power generation capacity has been offline because of frozen wind turbines in West Texas, according to Texas grid operators.

Wind farms across the state generate up to a combined 25,100 megawatts of energy. But unusually moist winter conditions in West Texas brought on by the weekend's freezing rain and historically low temperatures have iced many of those wind turbines to a halt.
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