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Oil economists forecast price in $75 range through 2020
Posted on 5/2/15 at 8:18 am
Posted on 5/2/15 at 8:18 am
9
Posted on 5/2/15 at 8:19 am to Jim Rockford
Not great news for SW LA
I'll take it though
I'll take it though
Posted on 5/2/15 at 8:22 am to Jim Rockford
At least quote some of the article.
Posted on 5/2/15 at 8:22 am to Jim Rockford
We shall see.
These predictions are usually about as reliable as a witch doctor tossing chicken bones.
These predictions are usually about as reliable as a witch doctor tossing chicken bones.
Posted on 5/2/15 at 8:27 am to Jim Rockford
quote:
Oil economists forecast price in $75 range through 2020
And what were they predicting 2 years ago? $110?
Fairly meaningless at this point - U.S. rig count is falling and supply will eventually balance with demand. That being said, I think $75/bbl is a pretty decent price economics wise.
Posted on 5/2/15 at 8:47 am to HurricaneDunc
But, but, but......the A-rabs say it's gonna go to $200 per barrel real soon.
LC
LC
Posted on 5/2/15 at 8:52 am to LongueCarabine
That's about what it should be anyway. The fracking industry will rebound with more efficient ways to get the oil out. They know it's there and can taste the $. They aren't just going to sit by and wait on the price to rebound.
Posted on 5/2/15 at 9:04 am to Jim Rockford
I'll bump this in a year and we'll see how reliable they are
Posted on 5/2/15 at 9:05 am to Jim Rockford
$75 is sustainable and lafayette will still do well at that price.
With that said, 5 year predictions are completey stupid. 30 year projections are usually higher quality because smart economists are okay making them as they will be retired by that point. Anyone making a 5 year prediction is an idiot. We can't even get a 6 month projection right.
Also, we are always one attack on the Ghawar field away from $250 oil.
With that said, 5 year predictions are completey stupid. 30 year projections are usually higher quality because smart economists are okay making them as they will be retired by that point. Anyone making a 5 year prediction is an idiot. We can't even get a 6 month projection right.
Also, we are always one attack on the Ghawar field away from $250 oil.
Posted on 5/2/15 at 9:41 am to HurricaneDunc
quote:
That being said, I think $75/bbl is a pretty decent price economics wise.
I agree there is a lot of profitable drilling to be done at $75 plus it should not put too much upward price on gas at the pumps.
For the next few years 75 - 85 a barrel should be viewed as a sweet spot.
Posted on 5/2/15 at 9:44 am to lsusteve1
quote:
Not great news for SW LA
Never mind. Did not read the post directly above mine which said the exact same thing and even used the same wording.
This post was edited on 5/2/15 at 9:45 am
Posted on 5/2/15 at 9:46 am to Walking the Earth
It is the sweet spot. 75 a barrel would be great news for swla especially if the natural gas prices stay low.
Posted on 5/2/15 at 10:43 am to Jim Rockford
One hurricane changes everything
Posted on 5/2/15 at 10:43 am to Jim Rockford
Since they're usually accurate.
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