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    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
    Senior Member
     
    #1

    Jul 6, 2015, 08:34 AM
    Why Keep Pumping?
    The old saying "When you find yourself in a hole, stop Digging". Would this not be true when it comes to Pumping Oil? There is a Glut and prices are going down per barrel of oil, but notice the price of Gas is going up. Why are they pumping like crazy?
    Oliver2011's Avatar
    Oliver2011 Posts: 2,606, Reputation: 746
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    #2

    Jul 6, 2015, 10:11 AM
    It's a catch 22 for me. I like paying less at the pump but I get more from royalties' if the price is higher. But the winter blend is coming soon and that is cheaper. Or do I have that backwards? All I know is our national security is no longer threatened by others controlling our economy by controlling oil production.
    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
    Senior Member
     
    #3

    Jul 6, 2015, 10:31 AM
    Quote Originally Posted by Oliver2011 View Post
    It's a catch 22 for me. I like paying less at the pump but I get more from royalties' if the price is higher. But the winter blend is coming soon and that is cheaper. Or do I have that backwards? All I know is our national security is no longer threatened by others controlling our economy by controlling oil production.
    I agree it is a catch 22 and right now I am catching hell with the stock of these pumpers. Yet, the price of gas has continued to rise, Some one is making a bundle. Cheap Oil should = Cheap Gas. So why do the pumpers keep digging? They must offset their Barrel Loss with income from Gasoline Sold. Still a couple months of summer travel before Winter Blend sets in.
    Oliver2011's Avatar
    Oliver2011 Posts: 2,606, Reputation: 746
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    #4

    Jul 6, 2015, 10:41 AM
    Lucky for me (sarcasm) we also have natural gas being pumped from our land. The bottom dropped out from there as well. I try not to look at it daily.

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