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Author Topic: Hey Jaime, I need a genius.  (Read 754 times)

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Offline Mere Nick

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Hey Jaime, I need a genius.
« on: February 16, 2012, 09:37:13 AM »
Take a look at this and give us you wisdom-laden comments. 

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Hey Jaime, I need a genius.
« on: February 16, 2012, 09:37:13 AM »

Online Jaime

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Re: Hey Jaime, I need a genius.
« Reply #1 on: February 16, 2012, 07:02:11 PM »
I would imagine the worldwide recession has affected gasoline demand and probably consefvation has made an impact. After nearly 30 years im the oil patch, I recognize that the seed for the next bust are sown before you realize you are in a boom. We are definitely in a boom in Weat Texas. Traffic is nuts, no one can find help. They can't build house fast enough. We have added more hotel rooms in the last year than I ever thought we could fill up, yet you can't find a vacant room within 100 miles of Midland/Odessa. If China ever get's it's economy back humming again, we won't be able to stand it here. If the reat if the economy doesn't recover, I'm sure the oil patch will bust again.

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Re: Hey Jaime, I need a genius.
« Reply #1 on: February 16, 2012, 07:02:11 PM »

Online Jaime

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Re: Hey Jaime, I need a genius.
« Reply #2 on: February 17, 2012, 05:07:33 AM »
I remember in 2008 when oil prices spiked at $147. Most people in the know in West Texas, their first reaction was, "Oh crap!" because we knew that a bust was right around the corner. And sure enough in 2 or 3 months, oil was at $30 per barrel and we were all taking pay cuts or losing our jobs. It pretty quickly recovered to a reasonable level of $75 or so. and has slowly ratcheted up to $100. The oldtimers here covet stability in price and a reasonable level. Ain't never gonna happen though. There are an awful lot of young people that are working in the industry today that think they are bullet proof. The kryptonite is lurking just out of sight.

Offline Mere Nick

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Re: Hey Jaime, I need a genius.
« Reply #3 on: February 18, 2012, 09:51:30 AM »
The sharp drop off at the right end suggests a good deal more than just conservation.

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Re: Hey Jaime, I need a genius.
« Reply #3 on: February 18, 2012, 09:51:30 AM »
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Online Jaime

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Re: Hey Jaime, I need a genius.
« Reply #4 on: February 18, 2012, 02:57:03 PM »
I assume the economy still sucks in the rest of the country driving down gasoline demand, but in the bizzaro world of the oil patch, we are in a full out boom. Bad national economy will naturally translate into much lower gasoline demand. 

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Re: Hey Jaime, I need a genius.
« Reply #4 on: February 18, 2012, 02:57:03 PM »



Offline TonkaTim

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Re: Hey Jaime, I need a genius.
« Reply #5 on: February 19, 2012, 07:18:57 PM »
Take a look at the Baltic Dry Index

Online Jaime

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Re: Hey Jaime, I need a genius.
« Reply #6 on: February 19, 2012, 08:06:44 PM »
Take a look at the Baltic Dry Index


I googled it and found this.

http://moneymorning.com/2010/07/16/baltic-dry-index/

Sounds reasonable to me.