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Posted on 11/13/17 at 10:43 am to whoisnickdoobs
quote:
90% of O&G consumption is used for transportation. It won't be dead, but cut back drastically.
False
Posted on 11/13/17 at 10:46 am to fareplay
quote:
With its largest consumption: transportation, moving towards electric, is the O&G dollars gone?
Natgas is now the largest source of electricity in the US, expect that to continue to rise.
Posted on 11/13/17 at 10:47 am to jlntiger
tried to find other articles but you need subscriptions so I am not linking, but here is a Fox Business article on the impacts of shale gas on the petrochemical industry. Ethane demand is growing and the industry is going to take advantage within increased investment in new plants.
Fox Business Article
Found another one:
Investment Daily Article
Fox Business Article
Found another one:
Investment Daily Article
Posted on 11/13/17 at 10:51 am to fareplay
YES, and here is why.
Most of the products oil used to make are now being made by gas. Ethylene crackers are the future, Gas to Liquids will be the future, LNG ships are the future, methane and natural gas powered plants are the future, and fracking on land is and will be the future. Refineries are mostly using oil now to make fuels and as more refineries upgrade and build new plants, fuels will be next.
Most of the products oil used to make are now being made by gas. Ethylene crackers are the future, Gas to Liquids will be the future, LNG ships are the future, methane and natural gas powered plants are the future, and fracking on land is and will be the future. Refineries are mostly using oil now to make fuels and as more refineries upgrade and build new plants, fuels will be next.
Posted on 11/13/17 at 10:52 am to fareplay
We had this thread last year and the OT lounge oil and gas delusionists told us all a barrel would be over $100 by now
Welp. We are at half that.
Stay safe op
Welp. We are at half that.
Stay safe op
Posted on 11/13/17 at 10:53 am to fareplay
If so, I need to figure something else out to study...
Posted on 11/13/17 at 10:54 am to toddzilla
quote:
Land work is blowing up right now.
Where?
Posted on 11/13/17 at 10:56 am to fareplay
I work on the G side, midstream. In the last 4 years we have built 4 new processing plants and hundreds of miles of pipeline. That investment would have not been made if it were dead. We also have some crude lines and are making investment in that also. And don't forget the NGLs and the associated fractionation units.
Posted on 11/13/17 at 10:58 am to LSURussian
I remember that image of earth. The scale of the pic showed that drop to be really big though 
Posted on 11/13/17 at 11:12 am to Collegedropout
West Texas
Posted on 11/13/17 at 11:13 am to rocket31
Those guys are dumb, but price per bbl has doubled since 2015 and continues to rise.
Posted on 11/13/17 at 11:13 am to Collegedropout
There is some stuff out west but it's definitely not blowing up.
Posted on 11/13/17 at 11:18 am to Marlbud
Question about refineries with gas stations.
Do you think they could turn current retail stores that rely on higher margin items in the store than actual gas, could be refitted to be battery re-charge stations?
Do you think they could turn current retail stores that rely on higher margin items in the store than actual gas, could be refitted to be battery re-charge stations?
Posted on 11/13/17 at 11:20 am to fareplay
O&G is far from dead. Assuming we shift to electric vehicles, the demand for oil will still be there for plastics. The power requirements for all of those batteries will be supplied by gas.
Everything will shift. Oil prices will go down and gas prices will go up but O&G will never be dead unless we find a way to harvest unicorn farts.
Everything will shift. Oil prices will go down and gas prices will go up but O&G will never be dead unless we find a way to harvest unicorn farts.
Posted on 11/13/17 at 12:14 pm to cave canem
quote:
the earth will remain powered by hydrocarbons for the rest of my lifetime but the era of high prices may be in a coma for the next decade.
THis, the fracking revolution has mor eto do with this than anything else, though.
Cheap, onland oil reserves have pummeled the Offshore oil business.
Posted on 11/13/17 at 12:15 pm to fareplay
Oil companies are laying people off because oil is cheap right now. These companies need oil to be higher than we the average consumer like. When we complain about gas and oil being high, it’s really good for oil and natural gas companies. The price of oil is starting to go up again and no oil and gas is not dead and it’s not anywhere close to being dead.
Posted on 11/13/17 at 12:15 pm to fareplay
quote:
is the O&G dollars gone?
are you retarded?
Posted on 11/13/17 at 12:18 pm to Sun God
quote:
Those guys are dumb, but price per bbl has doubled since 2015 and continues to rise.
This post was edited on 11/13/17 at 12:20 pm
Posted on 11/13/17 at 12:24 pm to fareplay
It's getting hurt on both sides; supply and demand.
Some demand is being shifted to other technologies all while the ability to find it and get it out of the ground has had great advancements in the last 10 years.
Bad combination to have ever increasing supply while demand falls off. The industry leaders will have to adjust to lower per barrels costs and become more lean. Hence the layoffs.
Some demand is being shifted to other technologies all while the ability to find it and get it out of the ground has had great advancements in the last 10 years.
Bad combination to have ever increasing supply while demand falls off. The industry leaders will have to adjust to lower per barrels costs and become more lean. Hence the layoffs.
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