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Is ALASKA OIL in the TEENS.......??? Just asking.

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  • #16
    There were a few trades of WTI yesterday as low as $18.50'ish the official low for most of yesterday was $19.27 for WTI. But it was a wild market.

    The scary thing is what this exposes, not just for the oil industry or Alaska, but for world economic foundation, or the illusion of economic foundation.

    Clue.....there is nothing there, it was removed. Skillfully and Brilliantly.
    "Life Is Either a Daring Adventure or Nothing" - Helen Keller

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    • #17
      AGL,

      You're correct or at least align with my memory of the 80s when you're sitting on a $100K mortgage and your house is valued at $30K.
      When NS Crude fell to $8, there were 11 banking firms in Anchorage and two years later there were three left. Murkowski's bank went under
      at that time also.

      Places like Seward will be quiet this summer and commercial fishermen will have a difficult market. Hunt guides will be getting cancellations also.
      Hunker down!

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      • #18
        Everything is gonna be just fine

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        • #19
          Originally posted by iyouktug View Post
          Everything is gonna be just fine
          Not likely. I was here for the crash in the mid 80's. With all the deficit spending the state has ben doing and exhausting all it's financial reserves, it could be worse this time. Especially with the addition of covid 19 and the lower oil prices and reduced production.
          Hunt Ethically. Respect the Environment.

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          • #20
            If you are free and clear on your home no debt, and keep your job yes you will be fine.

            You could buy condos in Anchorage for well under 40K, lots of nice homes were for sale in Wassila area for well under $100k, in the 80,s lots of people burned there homes to get out of unforgiven debt tough times the difference was hi intrest rates. People tend to forget the past.

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            • #21
              https://www.ktuu.com/content/news/Co...569481011.html


              ConocoPhillips to demobilize on North Slope
              "Life Is Either a Daring Adventure or Nothing" - Helen Keller

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              • #22
                Originally posted by Daveinthebush View Post
                I was just over in Anchorage and paid $2.48 for diesel in Palmer....
                Last week gas was $.59 a gallon in Alabama. Something seriously wrong with this picture!
                Sheep hunting...... the pain goes away, but the stupidity remains...!!!

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                • #23
                  Buckle up. It's going to be a rough ride.
                  Hunt Ethically. Respect the Environment.

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                  • #24
                    The price of Alaska North Slope Crude fell to $16.65 per barrel on Wednesday, according to the Alaska Department of Revenue, the lowest price since January 2002.

                    https://www.adn.com/business-economy...n-alaska-cuts/

                    ConocoPhillips will cut another $200 million from its Alaska work program this year, company executives said Thursday morning shortly before oil prices fell to the lowest level in 18 years.
                    "Life Is Either a Daring Adventure or Nothing" - Helen Keller

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                    • #25
                      Oil is less than $5 a barrel. I think water is more expensive now.

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                      • #26
                        I just saw it dip to $1.15. They are giving it away.

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                        • #27
                          Historic times.
                          Hunt Ethically. Respect the Environment.

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                          • #28
                            Originally posted by thomps33 View Post
                            I just saw it dip to $1.15. They are giving it away.
                            The futures price for WTI delivery for MAY 2020 today dropped to -$7.55 (Yes.....it was worth below zero) To be clear it did not "JUST" drop $7.55 The sellers had to pay the buyers $7.55 to take it. It was less then FREE
                            "Life Is Either a Daring Adventure or Nothing" - Helen Keller

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                            • #29
                              Yep. Oil prices went negative. Just went you thought oil prices could not get any lower, they did.

                              https://www.npr.org/sections/coronav...and-disappears

                              If anyone can remember the last time that happened, please let us know.

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                              • #30
                                I heard its down to negative $35/barrel because no one is driving and oil that was purchased months ago is showing up on our shores now, we are very over stocked.

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