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re: is the price per barrel of oil dropping a bad thing?
Posted on 12/18/14 at 11:09 pm to Gorilla Ball
Posted on 12/18/14 at 11:09 pm to Gorilla Ball
Certainly bad for this State, which gets most of it's revenue from oil.
1
Posted on 12/19/14 at 12:42 am to RogerTheShrubber
Absolutely.
I just want to add that those who want cheap oil/gas AND energy independence are kidding themselves. One of the main reasons we have gone from importing 2/3s of our petroleum to 1/3 imports in a matter of years is because the high price of oil has made previously challenged plays now economic to develop. Sure you can point to HZ drilling and frac technology but those techniques have been going on for ages. Its only been recently with oil over $100 that we have had the leverage to perfect that technology and employ it in previously marginal or uneconomic plays.
I just want to add that those who want cheap oil/gas AND energy independence are kidding themselves. One of the main reasons we have gone from importing 2/3s of our petroleum to 1/3 imports in a matter of years is because the high price of oil has made previously challenged plays now economic to develop. Sure you can point to HZ drilling and frac technology but those techniques have been going on for ages. Its only been recently with oil over $100 that we have had the leverage to perfect that technology and employ it in previously marginal or uneconomic plays.
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