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re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"
Posted on 7/15/13 at 10:09 am to TigerDog83
Posted on 7/15/13 at 10:09 am to TigerDog83
quote:
All the tight oil, shale oil, deepwater oil, and oil sands projects require higher oil prices to make them economical.
This was my understanding as well. The shale plays will be less viable than before.
The Tuscaloosa Marine Shale is kind of slow right now, right? I doubt we'll see it continue at $50/bbl.
This post was edited on 7/15/13 at 10:11 am
1
Posted on 7/15/13 at 10:18 am to dewster
I've been calling for huge declines in oil prices for a while. Instability in ME and Africa are keeping the price inflated. Who knows if that will keep up. Iraq has very cheap oil coming into play that will really drive prices lower IMO.
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