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Author Topic: Price of oil below $20 a barrel  (Read 3755 times)

DonTom

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Re: Price of oil below $20 a barrel
« Reply #15 on: April 18, 2020, 06:02:17 AM »

I change tires on some cardboard on my garage floor on my hands and knees, using hand tools.  But you will need a bead breaker and a wheel balancer and at least three large tire irons, along with some tire changing lube (or soapy water) and some stick-on wheel weights.  You can usually get all of this stuff at your local auto accessory store - off of Amazon, for sure.  Of course, you can spring for a $$$ No-Mar tire changer and life will be a lot easier.  ;)
On my Suzuki DR200SE, which is a tubed tire and rim,  I have removed the tire several times in the past. But a couple of years ago, I could NOT get the tire off the rim and took it to the shop. The big difference was the last tire was unbelievably hard and I could not get it removed with my three large tire irons. I then decided to just let the shops do all my tires from then on. But if I were going to start doing it myself again, I certainly would go with the  No-Mar.

I have yet to even try to remove a tire from a tubeless rim.

-Don-  Auburn, CA
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Richard230

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Re: Price of oil below $20 a barrel
« Reply #16 on: April 21, 2020, 04:48:31 AM »

I just heard on the CBS radio financial news that oil prices have dropped to a negative $34 a barrel today. I sure don't have a clue what is going on. Perhaps there will be an article in my newspaper tomorrow that will explain the price crash. However, the report also said that June oil futures were at $20 a barrel and July's futures were up to $30 a barrel.
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Crissa

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Re: Price of oil below $20 a barrel
« Reply #17 on: April 21, 2020, 05:39:02 AM »

It costs money and is difficult to turn off the spigot of pipelines and pumps.  They're just not designed to stop and start.  You have to have a place to put it, and then you tap those tanks.

Kinda like the opposite of the gotta-add-more-electrons problem that the electrical grid has, checking the frequency lag and turning on and off peaker plants to keep everything plugged in as demand and supply shifts.

-Crissa
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Richard230

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Fran K

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Re: Price of oil below $20 a barrel
« Reply #19 on: April 21, 2020, 06:35:17 AM »

I just heard on the CBS radio financial news that oil prices have dropped to a negative $34 a barrel today. I sure don't have a clue what is going on. Perhaps there will be an article in my newspaper tomorrow that will explain the price crash. However, the report also said that June oil futures were at $20 a barrel and July's futures were up to $30 a barrel.

Oil futures are what apparently went negative whether it was all day or just a little bit at closing time I did not investigate. Speculators who have no intention of actually taking delivery got in a tight spot.  Your last link is kind of silly.  This one might be somewhat better.  https://www.wsj.com/articles/why-oil-is-11-a-barrel-now-but-three-times-that-in-autumn-11587392745  "Contract expiration also flushes out speculators who have no intention to take delivery of barrels of crude. Exchange-traded funds, which control a large number of futures contracts, are among those that must sell at expiration. The forced selling adds downward pressure to prices. "

There is quite a variety of oil types depending on where it comes from.  You are probably using the price for west texas sweet or something like that.
« Last Edit: April 21, 2020, 06:36:49 AM by Fran K »
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Richard230

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Re: Price of oil below $20 a barrel
« Reply #20 on: April 21, 2020, 07:52:57 PM »

You are right, Frank.  The teaser news yesterday was mostly drama to get people (like me) to pay attention to something other than virus news.  This article seems to provide more details regarding what is going on: 
WrM&feature=emb_titlehttps://www.marketwatch.com/story/why-the-oil-market-just-crashed-below-0-a-barrel-4-things-investors-need-to-know-2020-04-20
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Sklith

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Re: Price of oil below $20 a barrel
« Reply #21 on: April 23, 2020, 01:35:49 AM »

I don't get why EV enthusiasts are so worried about folks buying gas guzzlers instead of electrics due to the cheap fuel costs right now. All these short-minded idiots will have to deal with their fuel costs doubling in a year or to any way. Also, governments, while temporarily limiting these policies, will continue to enact more strict zero emission guidelines despite how cheap fuel is.

I think it's more important that there's less vehicles on our roads now, and I hope that people working from work right now continue to do so most of the time after it's safe to no longer distance themselves.

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BrianTRice@gmail.com

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Re: Price of oil below $20 a barrel
« Reply #22 on: April 23, 2020, 03:12:03 AM »

I don't get why EV enthusiasts are so worried about folks buying gas guzzlers instead of electrics due to the cheap fuel costs right now. All these short-minded idiots will have to deal with their fuel costs doubling in a year or to any way. Also, governments, while temporarily limiting these policies, will continue to enact more strict zero emission guidelines despite how cheap fuel is.

I think it's more important that there's less vehicles on our roads now, and I hope that people working from work right now continue to do so most of the time after it's safe to no longer distance themselves.

Both are important.

But the reason to be concerned about abandonment of EV adoption is that EVs have problems due to lack of scale, and slowing or reduced sales exacerbate that problem. Continued sales growth is needed until each vehicle category can produce an affordable vehicle that sustains the manufacturer.
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Sklith

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Re: Price of oil below $20 a barrel
« Reply #23 on: April 23, 2020, 03:29:49 AM »

Both are important.

But the reason to be concerned about abandonment of EV adoption is that EVs have problems due to lack of scale, and slowing or reduced sales exacerbate that problem. Continued sales growth is needed until each vehicle category can produce an affordable vehicle that sustains the manufacturer.

Thankfully, auto manufacturers in Europe such as VW & Renault already produce BEVs at very competitive prices right now so their momentum isn't at risk, they'll be our beacon of light in these dark times.

Honestly, I'm more concerned about a great recession than anything. It's probably going to take a long time for people to purchase new cars, no matter what type of fuel they use.
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BrianTRice@gmail.com

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Re: Price of oil below $20 a barrel
« Reply #24 on: April 23, 2020, 03:46:31 AM »

Both are important.

But the reason to be concerned about abandonment of EV adoption is that EVs have problems due to lack of scale, and slowing or reduced sales exacerbate that problem. Continued sales growth is needed until each vehicle category can produce an affordable vehicle that sustains the manufacturer.

Thankfully, auto manufacturers in Europe such as VW & Renault already produce BEVs at very competitive prices right now so their momentum isn't at risk, they'll be our beacon of light in these dark times.

Honestly, I'm more concerned about a great recession than anything. It's probably going to take a long time for people to purchase new cars, no matter what type of fuel they use.

You aren't on a VW or Renault forum, you're on an electric motorcycle forum where these scales do not apply yet. Believe what you like, but this industry segment needs a lot of help.
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Sklith

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Re: Price of oil below $20 a barrel
« Reply #25 on: April 23, 2020, 04:06:01 AM »

You aren't on a VW or Renault forum, you're on an electric motorcycle forum where these scales do not apply yet. Believe what you like, but this industry segment needs a lot of help.

A lot of the R&D put into EVs to make them cheap will affect the price of electric motorcycles in the long run, so yes I do think that VW & Renault will help. I'm more concerned about motorcycle sales globally, they've been declining even before all this virus mess.
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princec

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Re: Price of oil below $20 a barrel
« Reply #26 on: April 23, 2020, 05:00:16 AM »

That might be something to do with their increasing weight, increasing power, increasing complexity, and increasing cost. Look at how the 600 market died out completely because the manufacturers chased focus that nobody wanted. The giant adventure market may go tits up at some point too when everyone cottons on they're just too big and serious to actually enjoy.

Cas :)
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Sklith

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Re: Price of oil below $20 a barrel
« Reply #27 on: April 23, 2020, 05:33:05 AM »

I think the e-bike and electric scooter markets will keep the industry afloat, and I hope these pioneers in the industry will put some funds into halo performance and adventure brands.
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Crissa

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Re: Price of oil below $20 a barrel
« Reply #28 on: April 23, 2020, 08:44:52 AM »

One thing about the mountains is that in this downturn, one vehicle left pretty unscathed is motorcycles.  I've been riding only eight months, but now I get passed by at last a motorcycle every time I go down the highway... Let alone the one-in-ten vehicles going the other way.

Maybe that'll show in the difference in sales, but the number of them on the street is about the same - while it's all other vehicles that have reduced.

-Crissa
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princec

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Re: Price of oil below $20 a barrel
« Reply #29 on: April 23, 2020, 02:35:31 PM »

Good riddance, too... I was out with my eldest walking the dog yesterday and I suddenly realised that without all the cars whooshing around everywhere it felt just like it did when I was her age (back in the 70s). We have ruined the world.

Cas :)
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