1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

U.S. Set to Export First Oil Since '70s

Discussion in 'Economy' started by ethics, Jun 25, 2014.

  1. Biker

    Biker Administrator Staff Member

    Obviously they've ignored what has happened to the Auto Workers over the past few years.
     
  2. dsl987

    dsl987 Member

    Average national wage for a refinery worker is $70,000, and that is coming from a Union spokesman.
    Many refineries usually have quite e bit of opportunity for overtime, so those willing to work can easily make over $100,000 a year
     
  3. ethics

    ethics Pomp-Dumpster Staff Member

    Well, this is exactly what Saudis were counting on. They are many thing but they are not stupid. Now the union folk...
     
  4. ethics

    ethics Pomp-Dumpster Staff Member

    Posting this because it's perfect for this thread. screenshot_62.png
     
    Copzilla likes this.
  5. dsl987

    dsl987 Member

    Good article which correctly summarizes that shale has put a cap on crude prices for quite some time. The only thing that could disrupt this is a major change in crude supply such as an attack on the Suez canal. Crude is going to jump up and down for a bit, personally I feel we are going to see another big downturn in WTI crude prices before we see it go back up and stabilize around $60-70.
     
    ethics likes this.
  6. Copzilla

    Copzilla dangerous animal Staff Member

    That price will set gasoline at about $2.50 per gallon. That's suitable for economic prosperity.
     
  7. dsl987

    dsl987 Member

    Last edited: Mar 4, 2015
  8. ethics

    ethics Pomp-Dumpster Staff Member

    Shale was/is the game changer. I saw the inventory report this am, 8.427M last report, expectations for this week was 4.x million, and then a whopper of a report with over 10M.
     
  9. dsl987

    dsl987 Member

    Looks like there is a tentative agreement between the USW and the refiners. As long as the workers sign off on the agreement the strike should be over in a week or two.
     
    ethics likes this.

Share This Page