No. I have some pictures from 21st and Sheridan where a storage facility was ransacked. There may be something on the news about that now but I got word before anyone really knew. They punched the locks and cleaned it out....
Tyler I don't know that refineries and pipelines are going to hurt as bad as producers. That 10 out of 50 was for producers. It sounds unbelievable to me but a friend who runs a section of a refinery just received a tankerful of Saudi oil for $12 a barrel. That's just under 29 cents a gallon for crude.
For civil unrest who knows. So long as people have food and water and internet along with television we're probably good for no riots. People get hungry....it'll get ugly.
By producers, do you mean the people who actually extract the oil out of the ground?
If so, yeah, I could see that.
Back in 2015 and 2016, if my memory is correct, the Saudi's started dumping their cheap crude on the world market.
So that made the price of West Texas Intermediate crude oil (WTI) drop from around $100 a barrel down to below $30 a barrel.
That practically killed off all fracking here in the states/North America.
The refinery I work at gets a lot of raw crude from the Alberta tar sands in Canada.
It used to be much, MUCH CHEAPER than WTI.
So yeah, just like fracking operations, I could see crude (WTI?) Get so low that it is not worth it to extract it out of the Alberta tar sands.