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Message
re: WSJ Market Watch Opinion: If Iraqi oil goes off line, $200 oil is next
Posted on 6/18/14 at 12:38 pm to Ace Midnight
Posted on 6/18/14 at 12:38 pm to Ace Midnight
quote:
Fracking has increased the supply. While not a new process, technological advances over the past 15 to 20 years have made the process much more cost effective. And it recovers far more gas from depleted wells than it does oil.
Greater supply generally means lower prices.
but all the new safety regulations make it so much harder to do business in the O&G industry and since the demand for natural gas is so low, how can they afford to stay in business?
3
Posted on 6/18/14 at 12:38 pm to The Boat
A booming economy definitely is not the cause of the stratospheric gas prices we've seen at the pump the past 5-6 years.
Posted on 6/18/14 at 12:40 pm to Ghostfacedistiller
I wonder how much we are producing now, as opposed to 2005.
Id venture to guess that we are also helping to keep prices down.
Id venture to guess that we are also helping to keep prices down.
Posted on 6/18/14 at 12:40 pm to Thib-a-doe Tiger
quote:
NG is cheap because it is not really a global trade like oil is. Most countries produce their own NG.
It's also cheap because the demand isn't that great from consumers yet.
doesnt matter because you said....
quote:
safety regulations didn't cause every oilfield related company to add billions collectively to their budget? Companies that weren't even a party to the spill? Who do you think ended up picking up the tab for that?
Posted on 6/18/14 at 12:41 pm to tgrbaitn08
quote:
Why are US natural gas prices so low?
Lots of ONSHORE gas plays developed since Macondo...while there was a moratorium for a time on offshore drilling after Macondo. Also, offshore production is mainly oil, whereas onshore is more balanced between oil/gas.
Additionally, we can't export gas. So US gas is artificially low, as we can't sell to rest of the world where the price is higher.
Posted on 6/18/14 at 12:41 pm to tgrbaitn08
fracking is mostly land and new regs are offshore from what I understand
Posted on 6/18/14 at 12:42 pm to tgrbaitn08
quote:
but all the new safety regulations make it so much harder to do business in the O&G industry and since the demand for natural gas is so low, how can they afford to stay in business?
Well the regulators are trying - but these are old wells - they don't have to be redrilled, just reopened.
But there are all kinds of anti-fracking propoganda products coming - particularly from Hollywood. The price of NG will increase, and be artificially increased, due to regulations.
However, NG prices will not directly impact the cost of a barrel of oil - the cumulative effect of government regulations does - and gasoline taxes directly affect the cost at the pump.
Posted on 6/18/14 at 12:42 pm to yellowfin
Let him continue to speak of what he does not know
Posted on 6/18/14 at 12:44 pm to redbaron
This post was edited on 6/18/14 at 12:45 pm
Posted on 6/18/14 at 12:44 pm to Thib-a-doe Tiger
quote:
Let him continue to speak of what he does not know
answer my question
so what you're saying is that the price of natural gas has nothing to with the BP Oil Spill and the new safety regulations that the administration handed down but the price of oil on a global scale and the price of gas domestically does??
Posted on 6/18/14 at 12:44 pm to tgrbaitn08
quote:
but all the new safety regulations make it so much harder to do business in the O&G industry and since the demand for natural gas is so low, how can they afford to stay in business?
It doesn't make it harder, just more expensive for the end user. Do you understand the concepts of business?
Posted on 6/18/14 at 12:45 pm to GrammarKnotsi
quote:What is so funny? It was $1.87 when he came into office....currently $3.70ish.
GrammarKnotsi
Posted on 6/18/14 at 12:47 pm to yellowfin
quote:
fracking is mostly land and new regs are offshore from what I understand
not so fast
quote:
safety regulations didn't cause every oilfield related company to add billions collectively to their budget? Companies that weren't even a party to the spill?
Posted on 6/18/14 at 12:47 pm to tgrbaitn08
quote:
so what you're saying is that the price of natural gas has nothing to with the BP Oil Spill and the new safety regulations that the administration handed down but the price of oil on a global scale and the price of gas domestically does??
I'm not even really sure how to respond to that because for the life of me I can't figure out what you're trying to say
Posted on 6/18/14 at 12:48 pm to tgrbaitn08
You do know that lots of oil companies work on land and water right?
Maybe it was exaggerated with "every"
Maybe it was exaggerated with "every"
This post was edited on 6/18/14 at 12:50 pm
Posted on 6/18/14 at 12:51 pm to Thib-a-doe Tiger
what i am trying to say is that the oil spill and the the safety regs are not the direct result of the price of gas and the price of oil on a global market.
you are trying to say that the reason the price of gas is high is because of the reasons I just mentioned.
However, you wont say that those same reasons have any effect on the price of natural gas. Why is that?
you are trying to say that the reason the price of gas is high is because of the reasons I just mentioned.
However, you wont say that those same reasons have any effect on the price of natural gas. Why is that?
Posted on 6/18/14 at 12:51 pm to Thib-a-doe Tiger
quote:
You do know that lots of oil companies work on land and water right?
yes I'm pretty aware of that, thats why your statement was ridiculous
Posted on 6/18/14 at 12:53 pm to tgrbaitn08
quote:
what i am trying to say is that the oil spill and the the safety regs are not the direct result of the price of gas and the price of oil on a global market.
You still don't make much sense. Of course the oil spill wasn't a result of the price of gas.
Natural gas is cheaper for several of the reasons previously listed, including my own.
This post was edited on 6/18/14 at 12:56 pm
Posted on 6/18/14 at 12:56 pm to Thib-a-doe Tiger
quote:
I'm not even really sure how to respond to that because for the life of me I can't figure out what you're trying to say
let me break it down for you...
BP Oil Spill and new safety regs have no effect on natural gas prices...Correct?
BP Oil Spill and new safety regs are direct cause for increased oil prices on a global scale as well as US gas prices at the pump...correct?
I'll leave it at that, just so we are clear
quote:
Of course the oil spill wasn't a result of the price of gas.
you said numerous times that it was
quote:
His safety regulations didn't cause every oilfield related company to add billions collectively to their budget? Companies that weren't even a party to the spill? Who do you think ended up picking up the tab for that?
quote:
You don't think that extrapolated over the entire industry is going to raise prices?
quote:
So adding what probably amounted to hundreds of billions of dollars in safety budgets, along with shutting down exploration in the Gulf for over a year, a slow permitting process, and no Keystone have no effect in gas prices domestically.
quote:
there is now a built in premium to cover the costs of compliance.
This post was edited on 6/18/14 at 1:02 pm
Posted on 6/18/14 at 1:02 pm to tgrbaitn08
The gas price would be a result of the oil spill dumbass. Look at what you posted
I never once said "because the price of gas is high, there was an oil spill"
That's the words you are trying to put in my mouth
I never once said "because the price of gas is high, there was an oil spill"
That's the words you are trying to put in my mouth
This post was edited on 6/18/14 at 1:04 pm
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