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Posted
1 hour ago, Rex Kramer said:

It needs to be scrutinized but Wright, though a blowhard, is smart. I’m happy to pay $280MM is a very small price to pay to keep SPR decisions out of Trump’s hands. Or Biden’s hands. And Wright was surely behind that, because Trump will inevitably look at SPR when oil inevitably goes up, and Wright now has cover from a third party when Trump inevitably approaches him on this. There are also structural integrity issues with SPR that this particular group may have specific expertise in addressing. 

Does it not concern you as a taxpayer that the new DOE decided to send this out to a company that we can't even definitively locate on the Internet? That alone seems fishy to me, and this happening while many of the IGs were removed from their posts by this administration is just greasing the wheels on this bumbling rollercoaster full of grifters. I have my doubts about this one, but I also doubt everything this admin does due to their pattern of ineptitude.

I think the SPR is kind of important, and would like to know that it will be managed by someone who knows something about the industry, the market and has a background in it. A little more info than a website under construction is not too much to ask for when it's a billion dollar contract. I agree, if they did find a group capable of completing upgrades, purchasing oil at low prices, and maintaining it would be fantastic, but again, I don't have any evidence that this is the case. 

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Posted
3 minutes ago, Dutchrudder said:

Does it not concern you as a taxpayer that the new DOE decided to send this out to a company that we can't even definitively locate on the Internet? That alone seems fishy to me, and this happening while many of the IGs were removed from their posts by this administration is just greasing the wheels on this bumbling rollercoaster full of grifters. I have my doubts about this one, but I also doubt everything this admin does due to their pattern of ineptitude.

I think the SPR is kind of important, and would like to know that it will be managed by someone who knows something about the industry, the market and has a background in it. A little more info than a website under construction is not too much to ask for when it's a billion dollar contract. I agree, if they did find a group capable of completing upgrades, purchasing oil at low prices, and maintaining it would be fantastic, but again, I don't have any evidence that this is the case. 

Not necessarily. But that can change on a dime. 

Posted
1 hour ago, TwiceHorn said:

Well, it was previously done by Fluor Federal Petroleum Services for a tad less money.  I suppose Fluor is as guilty of being a grifter as any big business, but you kind of tend to think they know what they're doing.  https://www.lawyersgunsmoneyblog.com/2025/04/the-strategic-petroleum-reserve

I think that SPP mentioned in that article is a self-storage outfit that is unrelated.  I see there is an SSP LLC formed in Delaware in June 2023 that is a more likely candidate, but not seeing any member/director information.

 

5 minutes ago, Dutchrudder said:

Does it not concern you as a taxpayer that the new DOE decided to send this out to a company that we can't even definitively locate on the Internet? That alone seems fishy to me, and this happening while many of the IGs were removed from their posts by this administration is just greasing the wheels on this bumbling rollercoaster full of grifters. I have my doubts about this one, but I also doubt everything this admin does due to their pattern of ineptitude.

I think the SPR is kind of important, and would like to know that it will be managed by someone who knows something about the industry, the market and has a background in it. A little more info than a website under construction is not too much to ask for when it's a billion dollar contract. I agree, if they did find a group capable of completing upgrades, purchasing oil at low prices, and maintaining it would be fantastic, but again, I don't have any evidence that this is the case. 

There are threads on reddit about this, and I'm leaning to TwiceHorn being correct. Supposedly the SSP LLC registered in Delaware has physical offices in LA: 

https://sam.gov/opp/502dc5b914254b2d86ebdc138f710a7f/view

image.png.f1c594ae2830f07f7cbca6f4a6211cfd.png

The parent company of SSP LLC is supposedly Aptim which is also located in Baton Rouge (https://www.aptim.com/services/resilience-and-infrastructure-solutions/oil-and-gas-infrastructure/) and history of government contracts (https://www.highergov.com/awardee/aptim-federal-services-llc-698193214/).

The storage folks in Colorado simply seem to share the same name. 

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Posted
4 minutes ago, tx 3 putt said:

 

can it hit $20 / barrel ?

This time?  Sure. But highly unlikely. I suspect we will go back up to mid to high 60s in short order. I feel we will hit $80-$90 before $50, but with Trump who the fuck knows. It’s just a matter of time before we literally cannot produce enough crude for the demand, and prices increase significantly. 

Posted
6 minutes ago, Blotto said:

 

There are threads on reddit about this, and I'm leaning to TwiceHorn being correct. Supposedly the SSP LLC registered in Delaware has physical offices in LA: 

https://sam.gov/opp/502dc5b914254b2d86ebdc138f710a7f/view

image.png.f1c594ae2830f07f7cbca6f4a6211cfd.png

The parent company of SSP LLC is supposedly Aptim which is also located in Baton Rouge (https://www.aptim.com/services/resilience-and-infrastructure-solutions/oil-and-gas-infrastructure/) and history of government contracts (https://www.highergov.com/awardee/aptim-federal-services-llc-698193214/).

The storage folks in Colorado simply seem to share the same name. 

No way. It’s a grift, and anyone who doesn’t think so without thought is a demon. 

Posted

The funny thing if the actual parent company of SSP LLC is Aptim, their social media presence is littered with "DEI bullshit". If Elon's minions at DOGE get a whiff of this, the contract will probably be clawed back, lulz. 

image.png.ba45014d7454e2639400f2c03be1ed19.png

 

And that link redirects to one without DEI in the URL, so they are probably scrubbing all their shit now. 

https://www.aptim.com/employee-engagement/

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Posted
9 minutes ago, Rex Kramer said:

 I feel we will hit $80-$90 before $50

Yeesh. I saw Boone say something very similar to this during a 2008 speech in Dallas. (although the swing was more like $200 - $50) Less than a 6 months later we were in the $30s.

Posted
36 minutes ago, The Royal We said:

Yeesh. I saw Boone say something very similar to this during a 2008 speech in Dallas. (although the swing was more like $200 - $50) Less than a 6 months later we were in the $30s.

Ok, I caveated the fuck out of that post, Mr. Fake News. 

The fundamentals don’t support crude being below $75. And that will only be more glaring as time goes on, unless Trump policies totally restrict global commerce. But you cannot discount the wild card that is this guy. He’s single-handedly fucked over the world and caused crude to be where it is. He’s a pretty powerful wild card. You can’t take my prediction out of context. 

Posted
2 hours ago, Rex Kramer said:

This time?  Sure. But highly unlikely. I suspect we will go back up to mid to high 60s in short order. I feel we will hit $80-$90 before $50, but with Trump who the fuck knows. It’s just a matter of time before we literally cannot produce enough crude for the demand, and prices increase significantly. 

Thought we were going to $100 for the last three years now.

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Posted
1 minute ago, Fudge Nuggets said:

One blip and you kept touting we were going back.  Bro, you’re the @Helobious of oil price predictions.

For a 6-month period inside your last 3 year metric, we averaged over $105. That’s a blip, now. K. 

I never said we were going to $100 in any certain time period and have repeatedly said Trump will keep oil prices low as long as he could.

What I have said on repeat is that fundamentally, oil and gas are poised to skyrocket. 

You read what you want to, I suppose. 

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Posted
50 minutes ago, Fudge Nuggets said:

Can it go negative again?

 

question here, when it dipped under $10 the last time, isn't that time to make a massive strategic reserve purchase ?

Posted
7 minutes ago, tx 3 putt said:

 

question here, when it dipped under $10 the last time, isn't that time to make a massive strategic reserve purchase ?

Great news, we should soon have the opportunity to find out!

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Posted
4 hours ago, Rex Kramer said:

For a 6-month period inside your last 3 year metric, we averaged over $105. That’s a blip, now. K. 

I never said we were going to $100 in any certain time period and have repeatedly said Trump will keep oil prices low as long as he could.

What I have said on repeat is that fundamentally, oil and gas are poised to skyrocket. 

You read what you want to, I suppose. 

Oil prices broke $100 on Feb 25 and went under $100 for the last time on July 1. That's roughly 11% of the 3-year timeline; i.e. a fucking blip.

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