Discussion in 'Economy' started by ethics, Jun 25, 2014.
Obviously they've ignored what has happened to the Auto Workers over the past few years.
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
Well, this is exactly what Saudis were counting on. They are many thing but they are not stupid. Now the union folk...
Posting this because it's perfect for this thread.
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.
That price will set gasoline at about $2.50 per gallon. That's suitable for economic prosperity.
Huge 10 million barrel gain in crude stocks this week. To get an idea of how much crude we currently have versus the 5 year average, take a look at
EIA crude inventory report: Record production levels fuel oil glut - Market Realist
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.
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.