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Message

re: Egypt's oil minister predicts $60 oil

Posted on 10/21/14 at 9:49 am to
Posted by ihometiger
Member since Dec 2013
12475 posts
Posted on 10/21/14 at 9:49 am to
I just saw a gallon of gas for $2.49 a few minutes ago in Chalmette.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37007 posts
Posted on 10/21/14 at 10:04 am to
quote:

$2.49 a few minutes ago in Chalmette


Where at? I'll stop by there on the way home.
Posted by AUin02
Member since Jan 2012
4280 posts
Posted on 10/21/14 at 10:09 am to
quote:

$60 oil means fracking is not economically feasible


Eh, not exactly accurate. It means expanding fracking is highly unlikely. The established wells can operate at that level but expansion will either stop or drastically slow down.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
134840 posts
Posted on 10/21/14 at 10:56 am to
My 6.2L V8 says thank you.
Posted by mmcgrath
Indianapolis
Member since Feb 2010
35361 posts
Posted on 10/21/14 at 11:12 am to
quote:

Its a win but what do you mean by "another"?
Bin Laden, forces out of Iraq, low unemployment, improved healthcare, etc.
Posted by Vegas Eddie
The Quad
Member since Dec 2013
5975 posts
Posted on 10/21/14 at 11:14 am to
quote:

Bin Laden, forces out of Iraq, low unemployment, improved healthcare, etc.






We should give him four more years
Posted by rcocke2
New Orleans
Member since Apr 2009
1690 posts
Posted on 10/21/14 at 11:33 am to
quote:

I just saw a gallon of gas for $2.49 a few minutes ago in Chalmette.


In da parish near intersection of Paris and St Bernard Hwy or Judge Perez? The cheapest station I remember is on St. Bernard Hwy, headed toward city, right before you get to Arabi, on the right between railroad tracks and CII Carbon. The stations on Judge Perez are the Shells/Chevrons/Exxons which are usually pricier.
Posted by WeeWee
Member since Aug 2012
40087 posts
Posted on 10/21/14 at 11:39 am to
quote:

Bin Laden

that was one of the 2 even though he made the easiest choice in presidential hisotry
quote:

forces out of Iraq,

followed Bush's timeline and didn't get the SOFA and bears the majority of blame for the ISIS. This is a loss
quote:

low unemployment,

and record low workforce participation. loss
quote:

improved healthcare

uh dude are you blind or retarded? At the moment, healthcare is worse and more expensive, it may change in the future but for now that is bigger freak up than Peyton Manning in last years Super Bowl. Blowout loss

So out of the ones you listed he is 1-3.
Posted by FightinTigersDammit
Louisiana North
Member since Mar 2006
34581 posts
Posted on 10/21/14 at 11:53 am to
quote:

Another win for Obama!!!


No, but he'll take credit for it.
Posted by TutHillTiger
Mississippi Alabama
Member since Sep 2010
43700 posts
Posted on 10/21/14 at 1:58 pm to
Watched good piece on this on GPS on CNN . Basically said low prices may be around for a few years. China demand has flattened out, US is down EU way down, glut of oil on the market etc.
Posted by goatmilker
Castle Anthrax
Member since Feb 2009
64156 posts
Posted on 10/21/14 at 2:10 pm to
quote:

Bin Laden, forces out of Iraq, low unemployment, improved healthcare, etc.


Bin laden he got under his watch.

Iraq? Really going there. Pick up a damn paper.

low unemployment Your not black I see. And I know you are aware of the lowest worker participation rate in thirty years so why quote this?

Improved healthcare. Just threw that out there in desperation huh.



Posted by joeleblanc
Member since Jan 2012
4114 posts
Posted on 10/21/14 at 3:11 pm to
quote:

What impact will this have on domestic production and our economy that is thriving right now? Lafayette/ Lake Charles corridor specifically


None. The big projects in LC are for LNG facilities which will export the product to countries without their own domestic oil (Japan)
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 10/21/14 at 3:21 pm to
quote:

without their own domestic natural gas (Japan)


FIFY
Posted by Boudin
Lafayette
Member since Oct 2006
10133 posts
Posted on 10/21/14 at 3:38 pm to
Well that would suck. My company just hired more guys in my department and I just bought my first house. I'm already making about 50% less than I was 2 months ago
Posted by 4LSU2
Member since Dec 2009
37316 posts
Posted on 10/21/14 at 4:26 pm to
quote:

you live in a nice fairyland.


I live in the thriving economy of South LA that includes Lake Charles, Lafayette, Baton Rouge, and the New Orleans metropolitan area. I also make my living in commercial construction that has not experienced the recession like the rest of the country the last ten years in this very area. The oil and gas industry has had a direct impact on this.

No fairy tale. It is reality.
Posted by ljhog
Lake Jackson, Tx.
Member since Apr 2009
19053 posts
Posted on 10/21/14 at 4:38 pm to
PSX
Posted by Colonel Flagg
Baton Rouge
Member since Apr 2010
22776 posts
Posted on 10/21/14 at 5:55 pm to
quote:

$60 oil means fracking is not economically feasible. If OPEC wasn't at war they could easily swamp the market and put a stop to the boom in the US by bankrupting marginal producers. Production in the US becomes unprofitable at about $75 a barrel....


How much does a frac job cost? Do you know?
Posted by ODanMan
Prairieville
Member since Sep 2008
1630 posts
Posted on 10/21/14 at 6:16 pm to

How poetic, I should write a song,lol.
Posted by jlc05
Member since Nov 2005
32833 posts
Posted on 10/21/14 at 6:30 pm to
I think breaking point is under 75 but frac sand is really expensive. All contract driven as well
Posted by TOKEN
Member since Feb 2014
11990 posts
Posted on 10/21/14 at 6:41 pm to
Bin Laden was put back on the radar by the president. He became a priority again.

The mission was very risky, especially with how far into Pakistan we had to go. Give credit where it's deserved.
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