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Started By
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2
Posted on 7/31/15 at 2:41 pm to The First Cut
You know I was agreeing w/ you, right?
Posted on 7/31/15 at 2:44 pm to Dodd
quote:
What has a bigger impact on society?
Paying $4/gal for gas in lieu of $2.50/gal?
OR
150,000 people out of work?
If it costs every man, woman and child in the country an extra $1.50 a gallon to keep those 150,000 people employed, it's bad economics. I'm not gloating, it sucks to be worried about your future waiting for the axe to fall. But y'all are looking at this through parochial glasses;being on the Gulf Coast, that's completely understandable. All you see is layoffs and for sale signs, and it doesn't seem possible that anyone could be benefitting. But in the rest of the country, consumers have more money in their pockets every week, and businesses have significantly lower production and transportation costs. It's a huge net benefit to the US economy, Houston's plight notwithstanding.
Posted on 7/31/15 at 2:44 pm to RedRifle
frick them
Posted on 7/31/15 at 2:44 pm to VetteGuy
No, didn't One only has to read the news to see the slashes in capital expenditures from these companies to know that was a dumb statement.
Posted on 7/31/15 at 2:50 pm to The First Cut
You obviously missed "to an extent" in my statement.
Sure. If an E&P has three projects on the table and oil crashes, they'll probably scrap one or two.
I never said they don't budget based on commodities.
Once again...it takes years to develop deep water fields and that is where the big E&Ps are.
Sure. If an E&P has three projects on the table and oil crashes, they'll probably scrap one or two.
I never said they don't budget based on commodities.
Once again...it takes years to develop deep water fields and that is where the big E&Ps are.
Posted on 7/31/15 at 2:54 pm to The First Cut
NP.
I was laughing at your Conan face.
I think the point he was trying to make was that oil companies need to drill/produce to ensure their long-term survival. Even in a down market, they will still invest and spend on capital projects.
To say that the level of capital expenditure is not affected or tied to current day selling price, especially when the selling price has dropped dramatically, is pretty crazy.
I was laughing at your Conan face.
I think the point he was trying to make was that oil companies need to drill/produce to ensure their long-term survival. Even in a down market, they will still invest and spend on capital projects.
To say that the level of capital expenditure is not affected or tied to current day selling price, especially when the selling price has dropped dramatically, is pretty crazy.
Posted on 7/31/15 at 2:56 pm to dkreller
quote:
"to an extent"
Yeah, I did.
Posted on 7/31/15 at 3:00 pm to VetteGuy
And when the price drops like it has, they lay off, scale back production, shelf some planned drills, and continue plugging and abandoning old wells. Oh and they put the squeeze on service company prices. A big chunk of the billions spent each year is on future projects.
Posted on 7/31/15 at 3:02 pm to VetteGuy
I love how the OT hasn't changed. Posters are still eager to be a hard arse even when they don't know what the frick they're talking about. 
Posted on 7/31/15 at 3:03 pm to dkreller
quote:
Oh and they put the squeeze on service company prices
Yep, even us IT guys feel it.
As an aside, IDK about you guys, but it's pretty hard for me to post on the OT, do my job, and order stuff for my boat from Amazon.
I feel like my posting is starting to suffer a bit.
Posted on 7/31/15 at 3:03 pm to dkreller
quote:
continue plugging and abandoning old wells
Which by the way is very costly. They can't just decide not to do it either since the government is making them.
Posted on 7/31/15 at 3:09 pm to Jim Rockford
The windfall for consumers is moderate at best, and consumer spending metrics have yet to show any meaningful improvement, relative to other recoveries.
The US shale boom was the single most positive influence in the economy in bringing us out the recession, and gas prices were never prohibitively high during the last 5 or so years anyway. It remains unclear as to what extent this will help or hurt us on aggregate.
The US shale boom was the single most positive influence in the economy in bringing us out the recession, and gas prices were never prohibitively high during the last 5 or so years anyway. It remains unclear as to what extent this will help or hurt us on aggregate.
This post was edited on 7/31/15 at 3:12 pm
Posted on 7/31/15 at 3:10 pm to Lou Pai
Hey, that's swell Lou.
That Thesaurus is really working out for you, huh?
That Thesaurus is really working out for you, huh?
Posted on 7/31/15 at 4:02 pm to VetteGuy
I don't think people understand the cyclical nature of the oil commodity and how far away we are from anything making a dent in the world's demand of it.
Posted on 7/31/15 at 7:53 pm to dkreller
quote:
You obviously missed "to an extent" in my statement.
You are 100% incorrect to any extent. Energy companies are constantly monitoring economic conditions. It takes $1 billion just to drill an exploratory well in deep water. If you think energy companies aren't scrutinizing economics before doing anything, you are sadly mistaken.
Posted on 7/31/15 at 8:34 pm to VetteGuy
quote:
That Thesaurus is really working out for you, huh?
Lou Pai is Jersey Tiger BTW
Glad to see he's back but not sure why his old account was deleted. That rarely happens.
Posted on 7/31/15 at 8:44 pm to RedRifle
quote:
Exxon Mobil’s Q2 income falls 52% by RedRifle
excellent....good time to buy some more of their stock...
Posted on 7/31/15 at 8:48 pm to Spankum
quote:
quote: Exxon Mobil’s Q2 income falls 52% by RedRifle excellent....good time to buy some more of their stock...
Yes, contrary to the thoughts of the crowd that hates energy companies, XOM and others will slash capital expenditures to keeps dividends up.
Posted on 7/31/15 at 8:48 pm to RedRifle
It wasn't that long ago there were "all time record profits" so you take the highs with the lows.
Exxon isn't hurting and don't believe anything less.
They'll cap wells to secure leases, delay work overs on wells that aren't profitable and trim the fat like every other business does when the market softens.
Actually some of the highest profit margins can be realized when companies shrink overhead and reduce costs.
Exxon isn't hurting and don't believe anything less.
They'll cap wells to secure leases, delay work overs on wells that aren't profitable and trim the fat like every other business does when the market softens.
Actually some of the highest profit margins can be realized when companies shrink overhead and reduce costs.
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