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re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"
Posted on 7/15/13 at 11:29 am to dewster
Posted on 7/15/13 at 11:29 am to dewster
I work in the industry and have been expecting $50-60/bbl at some point. With a good bit of variable pay tied to oil and gas revenues, I have been enjoying the ride but have not been planning for it to continue indefinitely.
On a simplistic basis, if there is truly this limitless amount of oil to be developed in domestic shales, it seems like the price should at some point converge to the marginal development cost.
But I'm not expert by any means, so who knows.
On a simplistic basis, if there is truly this limitless amount of oil to be developed in domestic shales, it seems like the price should at some point converge to the marginal development cost.
But I'm not expert by any means, so who knows.
1
Posted on 7/15/13 at 5:44 pm to Bayou Tiger
quote:
On a simplistic basis, if there is truly this limitless amount of oil to be developed in domestic shales, it seems like the price should at some point converge to the marginal development cost.
Sure if the drilling/production costs go way, way down due to tech advances then you could get sustained lower pricing.
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