Now that will even cover transport costs! I wish I had a UGGGGGE tank farm!
Lots. Just look around Cushing. Fraternity brother of mine makes a killing building those tank facilities.LOL. I was wondering how many tanks I could fit on 30 acres myself!
I just wish I knew more about how the oil futures market worked. I know nothing about it. Anyone want to give a quick lesson?
Lower gross production tax, the sate of Oklahoma couldn't pay oil companies to get oil back up. Much less lower taxes, no taxes wouldn't fix this. The problem is there is a lot of oil and the market has been rigged forever. Usually that comes back to haunt you. If we let free markets work Oklahoma, Texas, all of the midcontinent wouldn't be producing. Just think if Iraq, Syria, Libya, Iran, Venezuela where all producing, we have put them all out of business to prop up oil. Still didn't work.It’s terrible. But, for those that may not know, we were (state of OK) already starting to lose a lot of oil business to NM/TX. They have been the new/old hotspot. Oil production in Oklahoma was in trouble before Covid-19. And getting rid of Covid, if it were possible, may not help. Oklahoma companies were laying off employees when oil was $55/barrel. Closing field camps when it was $45-50/barrel.
Y’all need to get with the state reps and senators and get them to lower the gross production tax and amend some other items. We need new exploration and new ideas, or oil in Oklahoma is going to be nearly a thing of the past.
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