Oil prices expected to drop? "Expect $50 oil, but not $2 gas" | Page 4 | TigerDroppings.com

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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
8559 posts

re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"


What is your major exactly?





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jimbeam
USA Fan
University of LSU
Member since Oct 2011
33002 posts

re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"


civil/eveg may get my masters in coastal eng. if I go to grad school





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JasonL79
New Orleans Saints Fan
Gretna
Member since Jan 2010
4732 posts

re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"


quote:

quote:


It's hard to see where massive amount of new supplies can come from with $50 a barrel oil. All the tight oil, shale oil, deepwater oil, and oil sands projects require higher oil prices to make them economical. With the middle east supplies hinging on the ability of Saudi Arabia to produce higher quantities it looks like cheap oil is becoming harder and harder to find. Even the Saudis are being forced to run much higher rig counts and are looking at lower gravity more expensive crudes to increase production.




Exactly...prices crater to $50 and the Eagle Ford, Bakken, Permian Basin and the oil sands go off line. The Gulf CEO is a moron or there is something missing from quotes/questions?

Only way you get below $50 is if there is a new super giant conventional field uncorked somewhere that floods the market....guess what, ain't happening any time soon.


I work for a regional oil distributor and talked to a trader here recently and he said there would have to be a lot of things happen to get to that point but he doesn't see it going that low.







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evil cockroach
LSU Fan
27.98N // 86.92E
Member since Nov 2007
5126 posts

re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"


While I hate you enviro guys (j/k ); if the overboard water discharge limit on oil ever drops to 10 ppm from its current level of 29 ppm; I'm going to go buy a filter pot, some filters, and make a killing in the GoM.





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jimbeam
USA Fan
University of LSU
Member since Oct 2011
33002 posts

re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"


I love our oil clients. They always say "we have the money just get it done."





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