If You Are PLanning To Fill The Gas Tank....

[Shadowrider]

Seems to me it's either a last gasp at avoiding bankruptcy or it's leverage--"hey, we owe you this whole pot of money, so it'd really be in your best interests if you'd come on board with financing the pre-pack bankruptcy."

Could well be. I think I read that they conferred with a couple of firms for legal council before drawing it down. Healthy dose of CYA just in case?

 

[Shadowrider]

A lot of common sense in this article. My favorite part:

So what about the US oilpatch? The global price of crude is as ridiculously priced today as it was at $120 per barrel. A 2% oversupply in a world where we cannot even measure within 5% with any certainty drops the price of crude over 70% and has every analyst that claimed just 2 years ago that we would never see crude below $100 again now claiming that we won’t see oil above $40 anytime soon. They were wrong then, and they are wrong now.

 

[Rooster1971]

Pulled up to the pump today on memorial. They had 101 octane at $7.49 a gallon. Glad I noticed before I pulled the trigger!

 

[dennishoddy]

FWIW, the link that Hobbes posted several pages ago stated that inventories were still very high via the ATA's cheif economist.

http://www.trucking.org/article.aspx?uid=5897732a-ea35-4369-a23a-57a3b764c8a8

Caused by the Saudi's (OPEC) that have the faucets wide open to shut down the Shale and force the world to use their oil. Iran oil coming on line soon doesn't bode well for any increase in production in the US.

 

[yukonjack]

I fill up my pickup every week. I was paying over $65 each time. Today I paid $31. That's a savings of over $120 a month. I'll take that to the bank. For a retiree on a fixed income that's real money!

 

[CubsWin16]

Very troubling times

Sent from my SAMSUNG-SGH-I747 using Tapatalk

 

[zghorner]

I fill up my pickup every week. I was paying over $65 each time. Today I paid $31. That's a savings of over $120 a month. I'll take that to the bank. For a retiree on a fixed income that's real money!

shame on you man. Well, I guess as long as you feel really bad about it then its ok.

 

[Buddhaman]

Found out from my step-father that Cudd laid off a bunch in Lindsay. He was out for medical reasons but now has no job to come back to. Sandridge is looking like a ship 99% underwater too.

 

[Jestik]

Found out from my step-father that Cudd laid off a bunch in Lindsay. He was out for medical reasons but now has no job to come back to. Sandridge is looking like a ship 99.9999999% underwater too.

Fixed

 

[Raoul Duke]