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Started By
Message
Administration's $50 Oil Price Goal Is Doable, but Painful
Posted on 1/11/26 at 9:20 am
Posted on 1/11/26 at 9:20 am
quote:
U.S. producers might also need to cut production if oil prices decline further. Diamondback Energy, one of the biggest independent Permian producers, said in an earnings call last year that if oil prices stay in the “low 50s” for a month, the company might have to think about cutting their investment. Last year, Permian oil producers surveyed by the Federal Reserve Bank of Dallas said West Texas Intermediate oil prices had to be around $61 to $62 a barrel to profitably drill a new well.
quote:
With midterm elections looming in the fall, it is understandable why lower oil prices are on the White House agenda. But oil prices somewhere above $50 a barrel might be the sweet spot that satisfies two important constituents—American drivers and big oil producers.
LINK
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Posted on 1/11/26 at 9:34 am to ragincajun03
Price of crawfish fittin to…
Posted on 1/11/26 at 9:41 am to ragincajun03
Around $70 seems fine
Oil has remained pretty cheap when accounting for inflation. Everything else is way more expensive.
Oil has remained pretty cheap when accounting for inflation. Everything else is way more expensive.
Posted on 1/11/26 at 9:43 am to Cosmo
quote:
Oil has remained pretty cheap when accounting for inflation. Everything else is way more expensive.
Makes you wonder what big oil was doing 17 years ago when it was twice the price it is now.
Posted on 1/11/26 at 9:49 am to theunknownknight
quote:
Makes you wonder what big oil was doing 17 years ago when it was twice the price it is now.
Its a publicly traded commodity. 20 years ago OPEC manipulated. Now they dont have as much power because US and Canada produce plenty
This post was edited on 1/11/26 at 9:49 am
Posted on 1/11/26 at 9:49 am to ragincajun03
How bout we keep at 70 and d9 what really needs to be done.
Cut the taxes on it at the pumps. States tax the shite out of and as we have seen lately and most of us knew all along, the gov wastes your tax dollars.
Cut the taxes on it at the pumps. States tax the shite out of and as we have seen lately and most of us knew all along, the gov wastes your tax dollars.
Posted on 1/11/26 at 9:58 am to theunknownknight
quote:
Makes you wonder what big oil was doing 17 years ago when it was twice the price it is now.
It’s almost like things like advances in technology, information, distribution, extraction continue to make the process of getting oil less expensive?
I mean, who knew?
Posted on 1/11/26 at 10:16 am to theunknownknight
quote:
Makes you wonder what big oil was doing 17 years ago when it was twice the price it is now.
Well for starters, in January of 2008, the U.S. was producing only 5.1 Million bbls/day. Today, we’re producing around 13.5 Million bbls/day. OPEC doesn’t have the stranglehold on the oil markets that it did 17 years ago. The U.S. shale industry, which the Saudis have tried to kill, has helped wrangle that control away.
Posted on 1/11/26 at 10:19 am to ragincajun03
Most of America wants cheap gas. Sorry oil baws. Shoukd have saved that money
Posted on 1/11/26 at 10:23 am to Cosmo
Yep. The margin greed in a lot of consumer product industries is to blame.
No, I'm not a commie. I just don't think you need 40% margins to survive and "innovate" when inflation is holding the country back.
No, I'm not a commie. I just don't think you need 40% margins to survive and "innovate" when inflation is holding the country back.
Posted on 1/11/26 at 10:28 am to ragincajun03
quote:
The U.S. shale industry, which the Saudis have tried to kill, has helped wrangle that control away.
Will be interesting to see how the expected supply shifts hit the shale industry.
Posted on 1/11/26 at 12:10 pm to ragincajun03
I don’t care at all about the Texas Tech fans in West Texas using high oil prices to steal a college playoff roster and throw giant bags of cash at portal players. Lower those gas prices, Mr. President!
Posted on 1/11/26 at 12:12 pm to ragincajun03
quote:
Today, we’re producing around 13.5 Million bbls/day
That's a lot of big-boned ladies. RFK Jr is doing something about that.
Posted on 1/11/26 at 12:14 pm to ragincajun03
Oil needs to be between $76 - $88 per bbl for all to benefit.
Posted on 1/11/26 at 12:18 pm to BigNastyTiger417
quote:
Oil needs to be between $76 - $88 per bbl for all to benefit.
No, it needs to be at that price for the oil industry to profit while the rest of us who don’t work in that industry pay the bill.
Posted on 1/11/26 at 12:20 pm to Riverside
Like I said. $76 - $88 per bbl.
Posted on 1/11/26 at 12:57 pm to Riverside
quote:
No, it needs to be at that price for the oil industry to profit while the rest of us who don’t work in that industry pay the bill.
You will pay one way or other / today or tmr.
Case for an oil price floor of $60/bbl ish:
O&G development ain’t cheap and without significant risk. Reserve replacement economics have to be investable. Supply will go down, and prices will go up. Unit development costs in Gulf are near that price. Less profit than you think.
Case for an oil price ceiling of $80/bbl ish:
Capex investment will flow to replace reserves and avg consumer can live well with affordable street retail prices. The whole value chain is optimally profitable and people can be mobile.
This post was edited on 1/11/26 at 12:59 pm
Posted on 1/11/26 at 1:01 pm to ragincajun03
Interesting that these prices are so low while the admin takes an aggressively onerous approach to renewables and electric vehicles. You could almost say that, even at current prices, the price is being propped up by policy decisions.
Posted on 1/11/26 at 1:15 pm to TigersHuskers
quote:
Most of America wants cheap gas. Sorry oil baws. Should have saved that money
Americans only have cheap gas because of US Shale. Take US Shale away and we are right back to 1970s gas lines anytime OPEC wants to flex on the world.
I wouldn’t mind taking away the ethanol while we are at it.
Let the corn lobby figure out another scam.
Posted on 1/11/26 at 1:16 pm to mmmmmbeeer
quote:
admin takes an aggressively onerous approach to renewables and electric vehicles.
The previous administration?
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