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re: When will oil come back?
Posted on 5/3/17 at 2:03 pm to fareplay
Posted on 5/3/17 at 2:03 pm to fareplay
Coming back to $100/barrel?
If you ask me, not for at least a decade.
With how easy it is to drill and frac the source rocks, we can turn on the spigot very quickly, and as soon as prices begin to climb back up, we will, and drive the price right back down again.
If you ask me, not for at least a decade.
With how easy it is to drill and frac the source rocks, we can turn on the spigot very quickly, and as soon as prices begin to climb back up, we will, and drive the price right back down again.
This post was edited on 5/3/17 at 2:05 pm
2
Posted on 5/3/17 at 4:13 pm to TheIndulger
quote:
Coming back to $100/barrel?
If you ask me, not for at least a decade.
With how easy it is to drill and frac the source rocks, we can turn on the spigot very quickly, and as soon as prices begin to climb back up, we will, and drive the price right back down again.
Exactly right. When oil moves much north of $50 the US production will ramp up quickly.
The only way that oil breaks $100 in the next ten years is a major war in the middle east. Or hyperinflation in the US (unlikely).
Posted on 5/16/17 at 7:13 am to TheIndulger
Agreed. Although it is a similiar commodity, natural gas is slowly picking up. These next 20 years the natural gas industry will start booming over others. It is the energy of the future until something else is discovered
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