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  1. #12626
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    43,609
    X

    Let's do some livin'
    After, we die

  2. #12627
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    3,515
    XOM keeps the dividend, .87/share. At $32/share I get a bonus 1.74 shares. Kinda conflicted although I’ll take it, seems it’ll add to the debt they hold.

    Took a beating the last few days, went from being up to being into my own money. If I come across any money I’m gonna hold it till after the election and go from there.

  3. #12628
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    43,609
    Well, that was scary.

    Let's do some livin'
    After, we die

  4. #12629
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    12,077
    Mixed feelings about this market.

    WKHS NKLA SNAP short profits more than offsetting GME long bagholding.

    HTZ finally delisted

  5. #12630
    Join Date
    Jan 2005
    Location
    Denver, CO
    Posts
    1,595
    Good luck next week. Going to be interesting. I kept hitting my trailing stops on everything yesterday and today. So I am largely in cash with some UVXY calls, and some in SPDN and PSQ. Which are 1x inverse index etfs. Don't want to hold much other the weekend. See how much chaos and disorder Trump can conjure up and reevaluate on Monday.

  6. #12631
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    3,515
    I'm up for the day, but only because of the CDC lifting the no-sail order. CCL keeping me afloat today.

  7. #12632
    Join Date
    Jan 2005
    Location
    Denver, CO
    Posts
    1,595
    Quote Originally Posted by BobMc View Post
    I'm up for the day, but only because of the CDC lifting the no-sail order. CCL keeping me afloat today.
    People are still getting on cruise ships? Holy shit. Good luck. I wouldn't touch that with your dick.

  8. #12633
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    12,077
    Lightened up a lot!

    Covered Snap for fat profits

    Covered WKHS and NKLA and switched to puts so any loss will be limited

    Hedged entire GME position with puts

    Otherwise parked rest of yolo account in cash for civil war

  9. #12634
    Join Date
    Sep 2006
    Posts
    4,327
    Quote Originally Posted by BobMc View Post
    XOM keeps the dividend, .87/share. At $32/share I get a bonus 1.74 shares. Kinda conflicted although Iíll take it, seems itíll add to the debt they hold.

    Took a beating the last few days, went from being up to being into my own money. If I come across any money Iím gonna hold it till after the election and go from there.
    Their still net operating cash flow positive due to their hedging. Might be worth hanging on to for a bit longer. It's still going to take a decade or so before EV gets to a point where they might be around 5%-7% of total vehicle sales. But who knows.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  10. #12635
    Join Date
    Mar 2006
    Posts
    16,920
    Quote Originally Posted by Toadman View Post
    Their still net operating cash flow positive due to their hedging. Might be worth hanging on to for a bit longer. It's still going to take a decade or so before EV gets to a point where they might be around 5%-7% of total vehicle sales. But who knows.
    EV will help their NG holdings down the road. Power plants and so forth.

  11. #12636
    Join Date
    Sep 2007
    Location
    tetons
    Posts
    7,206
    Quote Originally Posted by Toadman View Post
    Their still net operating cash flow positive due to their hedging. Might be worth hanging on to for a bit longer. It's still going to take a decade or so before EV gets to a point where they might be around 5%-7% of total vehicle sales. But who knows.
    I saw an analyst report today that said 30% EV penetration by 2030
    and I believe it or at least close. Less passenger vehicles and more trucks/ freight switching initially and then when infrastructure gets more built out is when passenger vehicles will really start to pick up
    All the OEM's- passenger and truck -have shifted their R&D budgets from autonomous focused to alt fuel focused
    skid luxury

  12. #12637
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    7,806
    I'd like to know what portion of oil and nat gas are directed toward non-fuel uses like polymers and lubricants. A cursory search back in Feb or Mar didn't turn up anything definitive but suggested percentages in the teens.

  13. #12638
    Join Date
    Sep 2007
    Location
    tetons
    Posts
    7,206
    Quote Originally Posted by Mazderati View Post
    I'd like to know what portion of oil and nat gas are directed toward non-fuel uses like polymers and lubricants. A cursory search back in Feb or Mar didn't turn up anything definitive but suggested percentages in the teens.
    industrial lubricant feedstocks are usually used motor oil that is re-refined
    skid luxury

  14. #12639
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    7,806
    Quote Originally Posted by babybear View Post
    industrial lubricant feedstocks are usually used motor oil that is re-refined
    Did not know that. From Wiki:

    Re-refining one unit of used motor oil will yield:
    71% lube oil
    5% fuels
    14% asphalt
    10% water

    Refining one unit of crude oil will yield:
    84% fuels (46% gasoline, 38% other fuels)
    9% gases
    4% coke
    3% asphalt and road oil
    3% petrochemical feed-stocks
    1% lubricating oil

  15. #12640
    Join Date
    Sep 2007
    Location
    tetons
    Posts
    7,206
    oh yes asphalt is also a big byproduct of rerefining. also goes into roofing shingles, which are going off right now
    not sure what your objective is, but elaborate or pm if you'd like and I can share what I know
    I think the dynamic to think about now is that the used motor oil collection was way down during covid due to miles driven being lower, so their feedstocks are supply constrained= higher prices which pressures margins/ the spread- it's getting a lot better but we also have a big end mkt hit from less planes and cruise ships in operation too until this pandemic lightens up
    skid luxury

  16. #12641
    Join Date
    Dec 2002
    Location
    cow hampshire
    Posts
    5,563
    Quote Originally Posted by babybear View Post
    industrial lubricant feedstocks are usually used motor oil that is re-refined
    Quote Originally Posted by Mazderati View Post
    Did not know that. From Wiki:

    Re-refining one unit of used motor oil will yield:
    71% lube oil
    5% fuels
    14% asphalt
    10% water

    Refining one unit of crude oil will yield:
    84% fuels (46% gasoline, 38% other fuels)
    9% gases
    4% coke
    3% asphalt and road oil
    3% petrochemical feed-stocks
    1% lubricating oil
    Interesting. I learned something today. Thanks

  17. #12642
    Join Date
    Sep 2007
    Location
    tetons
    Posts
    7,206
    Quote Originally Posted by jackstraw View Post
    Interesting. I learned something today. Thanks
    also lubricants
    hehe
    skid luxury

  18. #12643
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    3,515
    Quote Originally Posted by mcsquared View Post
    People are still getting on cruise ships? Holy shit. Good luck. I wouldn't touch that with your dick.
    https://boards.cruisecritic.com/

    The TGR of cruising, tons of people dying to get on a cruise ship. Myself, not now. I have a cruise scheduled for next August though, hoping that comes through. Carnival was trading over $50 in January, I don’t expect it to be anywhere near that for a while but I gotta think picking it up at $12 is a good buy. NCL and RCL are battered as well and will eventually come back. I’m betting on the cruise industry to figure it out while a vaccine is found.

    All that said, I’m mainly holding the stock for the shareholder on-board credit of a hundred bucks. Heh

    All of the above posts are why I’m torn with any more money I come across. I want to put more into healthcare but that $33 price on XOM is like a sireens song to me. I was happy to be in it at $42, hard to turn down $33.

  19. #12644
    Join Date
    Dec 2011
    Location
    PNW
    Posts
    4,985
    Quote Originally Posted by babybear View Post
    also lubricants
    hehe
    Also coke, heh heh heh

  20. #12645
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    7,806
    Quote Originally Posted by babybear View Post
    oh yes asphalt is also a big byproduct of rerefining. also goes into roofing shingles, which are going off right now
    not sure what your objective is, but elaborate or pm if you'd like and I can share what I know
    I think the dynamic to think about now is that the used motor oil collection was way down during covid due to miles driven being lower, so their feedstocks are supply constrained= higher prices which pressures margins/ the spread- it's getting a lot better but we also have a big end mkt hit from less planes and cruise ships in operation too until this pandemic lightens up
    Great points and thanks. Just thinking broadly about how much oil demand may decrease in the next few years. Electric cars and trucks are big visible signs of decreasing demand but smaller industries like outdoor power equipment and powersports are also switching over. US lawn mowing is estimated to use 1.2B gallons or 2% of gasoline annually as of 2014 which is nowhere near car and truck consumption but it's not nothing, and electric takes more market share every year. Add in less driving due to mainstream work from home. Weigh those against population growth and oil and gas resources used to mine and manufacturer new electric products and a bunch of other things I'm surely missing (more single-use plastics?).

  21. #12646
    Join Date
    Jun 2009
    Location
    In a pineapple and wants to ski
    Posts
    1,311
    What date is Black Friday?

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