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Message
OPEC Secretary General foresees oil prices at $200 per barrel in the future..
Posted on 1/28/15 at 11:22 am
Posted on 1/28/15 at 11:22 am
$200 ppb
..this is to all who think this rapid short term drop in oil prices is a good thing. You'll be crying for $3/gal prices when you're paying $5/gal.
quote:
Al-Khobar, Asharq Al-Awsat—Oil prices could rebound to 200 US dollars per barrel if investments in the oil sector dry up in light of current low prices, according to OPEC’s secretary general, Abdallah El-Badri.
Speaking to Bloomberg in London on Monday, Badri warned that new investment was needed in order to develop oil fields, with investments in the sector already falling and a number of projects canceled as current low prices continue to affect profit margins.
..this is to all who think this rapid short term drop in oil prices is a good thing. You'll be crying for $3/gal prices when you're paying $5/gal.
13
Posted on 1/28/15 at 11:24 am to LSUAlum2001
Doubt that happens.
There is more supply than demand right now.
There is more supply than demand right now.
Posted on 1/28/15 at 11:24 am to LSUAlum2001
don't care
Posted on 1/28/15 at 11:25 am to LSUAlum2001
I bet you have an "oil field trash making oil field cash" window sticker.
Posted on 1/28/15 at 11:25 am to LSUAlum2001
quote:
You'll be crying for $3/gal prices when you're paying $5/gal.
they have said that gas prices will be $5/gal by summer for the last 5 years or so
it hasn't happened yet
Posted on 1/28/15 at 11:25 am to LSUAlum2001
here we go
Posted on 1/28/15 at 11:26 am to TheCaterpillar
quote:
There is more supply than demand right now.
What happens when that shifts the other way?
Posted on 1/28/15 at 11:26 am to LSUAlum2001
Drilling for crude oil is a dying process. This is bullshite if you ask me.
Posted on 1/28/15 at 11:27 am to CapitalCityDevil
quote:
Drilling for crude oil is a dying process
Have you found something better?
The rest of the world is dying to know.
Posted on 1/28/15 at 11:28 am to Road Tiger
that's their gamble of not cutting production when their isn't demand for it in an effort to hurt fracking.
my money is on our boys figuring out how to get the oil out more efficiently and the fact that they still wouldn't be pumping oil had we and the brits shown them how to get it out.
my money is on our boys figuring out how to get the oil out more efficiently and the fact that they still wouldn't be pumping oil had we and the brits shown them how to get it out.
Posted on 1/28/15 at 11:28 am to CapitalCityDevil
quote:
Posted by CapitalCityDevil
Drilling for crude oil is a dying process. This is bullshite if you ask me.
Except productions are at highs soooooo
Posted on 1/28/15 at 11:29 am to LSUAlum2001
quote:
..this is to all who think this rapid short term drop in oil prices is a good thing. You'll be crying for $3/gal prices when you're paying $5/gal.
In direct contradiction to a Saudi Prince saying we would never see >$100bbl again (find your own link).
If it does fracking pops right back up as competition.
Posted on 1/28/15 at 11:29 am to barry
The thing is it's way easier to scale down than to scale up. The world is always one ME dust up away from 100 dollar oil
Posted on 1/28/15 at 11:29 am to LSUAlum2001
bullshite.
If oil starts creeping back to the $100 range, production will pick back up as needed around the world. If it gets near $150 I could see the US opening up previously off limits area for drilling if need be and we could provided ourselves pretty much all of the oil we needed.
If oil starts creeping back to the $100 range, production will pick back up as needed around the world. If it gets near $150 I could see the US opening up previously off limits area for drilling if need be and we could provided ourselves pretty much all of the oil we needed.
Posted on 1/28/15 at 11:29 am to LSUAlum2001
It will be $200 in the future...but that will be a LONG way away. The problem with his stupid prediction is he is assuming that investments in the sector will not increase as the price goes back up.
Posted on 1/28/15 at 11:30 am to LSUAlum2001
quote:
..this is to all who think this rapid short term drop in oil prices is a good thing. You'll be crying for $3/gal prices when you're paying $5/gal.
I love to gamble... And I will bet you any amount of money you want to bet that this doesn't happen by the summer time.
Put your money where your mouth is.
Posted on 1/28/15 at 11:32 am to LSUAlum2001
Posted on 1/28/15 at 11:33 am to The Lou
Also, the world is dedicating trillions to alternative energy sources.
Posted on 1/28/15 at 11:34 am to Bamadiver
I give less than zero fricks bout this. Does that make me ignorant?
It does make me wanna go watch the newer "Dallas" though!
It does make me wanna go watch the newer "Dallas" though!
Posted on 1/28/15 at 11:34 am to LSUAlum2001
quote:
OPEC
quote:
says
quote:
$200 per barrel in the future
Water is wet.....anyone think they would say $20 per barrel?
This post was edited on 1/28/15 at 11:34 am
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