America is getting back to work
Posted: Mon Sep 28, 2020 5:38 pm
This video https://www.youtube.com/watch?v=nWgMMhG ... 0c133ebd48 supports my belief that oil demand in the USA is about 95% back to pre-pandemic level. The exception is jet fuel.
Susan & I drove up to Dallas last week and I was amazed by the amount of truck traffic on road. I've made hundreds of trips to Dallas and the overall amount of traffic seemed no different than it was last year. The truck traffic actually seemed higher, but maybe that's because I was focused on it.
IMO the longer WTI stays under $50/bbl the higher the chance of an oil shortage a year from now. If the world is actually back to normal nine months from now, we are almost guaranteed to have an oil shortage in Q3 2021.
Susan & I drove up to Dallas last week and I was amazed by the amount of truck traffic on road. I've made hundreds of trips to Dallas and the overall amount of traffic seemed no different than it was last year. The truck traffic actually seemed higher, but maybe that's because I was focused on it.
IMO the longer WTI stays under $50/bbl the higher the chance of an oil shortage a year from now. If the world is actually back to normal nine months from now, we are almost guaranteed to have an oil shortage in Q3 2021.