Covid 19 affecting car sales and everything else

[AndrewJ]

I cannot fathom how Russia and OPEC decided that now was a good time to start a turf war and plunge the world into an even bigger browner stained crisis.

The timing is actually quite deliberate. Russia and OPEC can produce oil at a fraction of the price that USA and Canada can. US production has increased exponentially over the past several years, as has the available production out of Canada. OPEC and Russia have had the single goal of getting the price low enough to put North American Producers out of business. When our economies are booming our gov't can spend billions to support the oil industry . The North American economies are now instantly crippled by the necessity to spend unknown billions to keep our entire economies from collapsing. There is no cash to fully support Alberta. At today's closing prices North American producers will be forced to stop production. They have no choice. They literally just made unprecedented cuts..then today..unfathomable.

Meanwhile Russia and OPEC can sell at crazy low prices and still keep producing.

 

[YFCvii]

The timing is actually quite deliberate. Russia and OPEC can produce oil at a fraction of the price that USA and Canada can. US production has increased exponentially over the past several years, as has the available production out of Canada. OPEC and Russia have had the single goal of getting the price low enough to put North American Producers out of business. When our economies are booming our gov't can spend billions to support the oil industry . The North American economies are now instantly crippled by the necessity to spend unknown billions to keep our entire economies from collapsing. There is no cash to fully support Alberta. At today's closing prices North American producers will be forced to stop production. They have no choice. They literally just made unprecedented cuts..then today..unfathomable.

Meanwhile Russia and OPEC can sell at crazy low prices and still keep producing.

How many actually noticed that part of the USA Economic Self-absorbed Greatness (until as of late)
was based with having a Self-Sustained Petroleum Industry. One of the few things Trump has correct.
He slipped out a few days ago that they will be stock piling very cheap crude ...

 

[Nik]

The timing is actually quite deliberate. Russia and OPEC can produce oil at a fraction of the price that USA and Canada can. US production has increased exponentially over the past several years, as has the available production out of Canada. OPEC and Russia have had the single goal of getting the price low enough to put North American Producers out of business. When our economies are booming our gov't can spend billions to support the oil industry . The North American economies are now instantly crippled by the necessity to spend unknown billions to keep our entire economies from collapsing. There is no cash to fully support Alberta. At today's closing prices North American producers will be forced to stop production. They have no choice. They literally just made unprecedented cuts..then today..unfathomable.

Meanwhile Russia and OPEC can sell at crazy low prices and still keep producing.

Indeed. That much is obvious. It's maximum damage time at the moment.

 

[ddgermann]

We are home.... Just arrived. Houston was a $hit show... Barely made our plane. Was only 23 people on it. 53 more that were suppose to be on it and were with us from Bogata never made it through US customs in time. Estimate there were 600 people in line and only 2 customs booths open. Still baffles me why connectors had to clear US customs anyway. Pleaded that we were going to miss our connection and they basically blew me off and said get back in the line... Nice... Stewardess said we were likely the last ones who would get home with AC as they were in the process of cancelling their international flights. Already losing gate privileges in most out of country airports... Like I said ... $hit show.... Glad we made it though even if I'm in isolation til April 1....

Been in that situation in Houston George Bush too. And it wasn't even a crisis. I know exactly the look on your face making the turn into immigration then after finally clearing the customs line up by the luggage hall... seeing the escalator up to security stopped and full of people. I was lucky that morning too.

Happy you made it through ok. Now make sure you are well stocked for your mandatory 2-week quarantine.

 

[Rruuff Day]

Been in that situation in Houston George Bush too. And it wasn't even a crisis. I know exactly the look on your face making the turn into immigration then after finally clearing the customs line up by the luggage hall... seeing the escalator up to security stopped and full of people. I was lucky that morning too.

Happy you made it through ok. Now make sure you are well stocked for your mandatory 2-week quarantine.

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lol....They've gone high tech since then Derek.... Nobody gets on the escalator until security is cleared upstairs. They line us up in rows like cattle going to slaughter below and a big mama with way too much makeup stands guard and watches a monitor screen of the security lines, releasing about 10 at a time.... If they'd had any more than 2 lines open, we'd have blown through a lot faster...
Yup... checked mu bourbon supply...I'm good to hibernate.....

 

[Morby]

Not sure if we're talking the liquor cabinet stock health or getting back into Canerda, or the sh*tty price of oil.. but the only thing that I can support this group with, is to support the necessity for proper planning . The rumour that went around my office today was that the liquor stores were closing tomorrow....... panic set in! Planning was incomplete! End of the day ahd a few bucks later, sighs of relief.

Get home, get safe, and then... open a beer......then if you have a few bucks leftover, invest in a local Canadian producer, they're at a discount these days, but more than worth it!

 

[tyho]

Thread has migrated from oil to booze. The former is not in high demand at this time. The latter, well ..... go figure.

 

[Tourmax]

I’s guestimate we’re looking at a minimum of 6 months of economic impacts, orobably more like 12-18 months before/if the economy gets back on track.
Loonie is under 70 cents USD today and oil is at record lows (for recent history). Best buckle up gents, I’m pretty sure this hasn’t bottomed out yet.

Thankfully, since I’m retired, all my money is tied up in low risk investments and are riding this out fairly well. Sure, I’m on a fixed income (cost of living indexed), but thats not such a bad thing right now...it a govt canada pension, so the govt has to go broke to effect me and even then, its not exactly gov’t funds as its already allotted for and invested in the superannuation act. I suppose the idiots in parliament could get their hands on it if they wanted too, but they had better be able to justify it with something like “we need to do it or Canada fails”. Even then, if they do dip into the pension funds, they best get ready for never ending law suits.

I wish we were all in that situ (a base income amount, no matter what). Its not living in “opulence” (like a certain failed drama teacher does), but at least its secure income during turbulent times....

 

[COP8]

Had a talk with a in the know GM executive and he told me most dealerships have had their allotments cut in half for 2020 due to all the work stoppages.And the real kicker is the companies that used to make alt of the C8 components will now be making medical equipment for the next wile .So that means that if your car is not made this week then you will probably not see it before Christmas for most of us.This also means we will all have 2021s hopefully at the same price with different options. These cars seem to have been cursed with Murphys law fome the get go .

 

[Riley P]

Here in Calgary, schools are closed till September. All City operated recreation facilities, swimming pools, gyms, libraries, churches post secondary institutions, and all meeting places where 250 or more can gather are either closed, cancelled or postponed.
There goes car show season.

I would like to think that even if we can't go to car shows and sit around and talk, we could do a moving car show where we all go cruising and drive our cars..... Maybe some rolling car shows where we get to see the cars in action. Use up some gas, feed the economy.

 

[Morby]

would like to think that even if we can't go to car shows and sit around and talk, we could do a moving car show where we all go cruising and drive our cars..... Maybe some rolling car shows where we get to see the cars in action. Use up some gas, feed the economy

I'm in Riley!