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Message
re: $90 Oil Is Only The Beginning
Posted on 2/1/22 at 10:09 am to Loup
Posted on 2/1/22 at 10:09 am to Loup
quote:
Since natural gas is a by product of crude extraction when the price of crude is high and companies are pushing more extraction it goes down because it is more available. Why isn't crude going up a good thing for them if it isn't to the point that crude use is limited due to it's price?
The amount of natural gas may increase as crude production increase, so yes the price of NG should go down and probably will. But expensive crude leads to expensive light ends (and expensive gasoline and everything else). The light ends that typically aren’t used for fuel (like natural is) are typically sold to petrochemical plants to make the plastics and other chemicals required for modern day life.
As this new “raw” material increases in price, the price of the finished and intermediate plastic and petrochemical goods increase.
0
Posted on 2/1/22 at 10:10 am to fallguy_1978
quote:
Demand might decline some but we'll still be extracting oil from the ground in 100 years.
This....
Posted on 2/1/22 at 10:16 am to stout
quote:
As technology continues to evolve it will probably be cheaper to drill.
Everybody laughed at my doom on the poliboard about peak oil and, fine, I was wrong in the short term. But, all oil production basically follows that bell curve -- and that bell curve usually tracks the discovery curve by a few decades. We are not finding easy to tap supergiant fields out there. It's going to be a case of running faster and faster to stay in place. When you have to go to shale/sands, that should tell you something. I know cwill is an a-hole, but he was/is the best poster on here about energy and his main criticism of me was that I was underestimating technology on discovery. So, yeah, you guys are probably right that better tech will find some oil out there. But, not enough to run this planet in 50 years.
Posted on 2/1/22 at 10:21 am to JL
quote:
If you're doing your riserless section with 16.3 ppg I would hang out close to the muster area because the operator doesn't know what the frick they are doing. That should way exceed the frac gradient in probably any area in the gulf before you would run riser.
Bruh. Most people on here don't know what the hell we're talking about, and if they do, obviously we're not spudding with 16.3ppg WBM. We cut it 10.5 ppg with seawater. Geez.....why so serious. So take your gradient, shine it up nice and bright and show it up your candy arse.
Posted on 2/1/22 at 10:26 am to Bunk Moreland
quote:
But, not enough to run this planet in 50 years
LOL... I love this argument, even though it's not an argument.
Posted on 2/1/22 at 10:30 am to Bunk Moreland
quote:
Everybody laughed at my doom on the poliboard about peak oil and, fine, I was wrong in the short term. But, all oil production basically follows that bell curve -- and that bell curve usually tracks the discovery curve by a few decades. We are not finding easy to tap supergiant fields out there. It's going to be a case of running faster and faster to stay in place.
You’re not wrong. Our energy policy needs to be “all hands on deck”.
Lots of oil & gas operators, and petrochemical companies, are reinvesting some of their hydrocarbon business earnings into other “clean”, non-fossil fuel industry.
We should continue to invest in alternative energy sources and improving the technology and efficiency to make those sources competitive with oil & gas; however, we’re still not close to that point yet, so intentionally trying to restrict production because it’s “dirty” does nothing but hurt the country and international community overall.
Posted on 2/1/22 at 10:30 am to JackieTreehorn
quote:
Oil is about to take off but you can't find an F-250. What will the Oil Baws do?
Silverado 2500 High Country edition
10 year financing plan with financed lift kit, rims, and off-road tires.
Posted on 2/1/22 at 10:32 am to Bunk Moreland
quote:
So, yeah, you guys are probably right that better tech will find some oil out there. But, not enough to run this planet in 50 years.
There are MASSIVE reserves in Alaska, the arctic, South America, off the coast of Africa , and untold locations yet to truly be explored. If it’s valuable enough, companies will invest.
Posted on 2/1/22 at 10:34 am to ragincajun03
quote:
We should continue to invest in alternative energy sources and improving the technology and efficiency to make those sources competitive with oil & gas; however, we’re still not close to that point yet, so intentionally trying to restrict production because it’s “dirty” does nothing but hurt the country and international community overall.
We should ALWAYS invest and look for new energy. We need it.
Posted on 2/1/22 at 10:37 am to JackieTreehorn
quote:
Oil is about to take off but you can't find an F-250. What will the Oil Baws do?
Truck nuts shriveled
Posted on 2/1/22 at 10:37 am to Potchafa
You're the one who misspoke, not me. I just wanted to make sure you were safe out there if y'all were actually gonna spud with that mud weight.
I would recommend jetting with seawater, pumping a high vis pill every 50' vs. starting with 10.5 ppg, this will save on cost.
I would recommend jetting with seawater, pumping a high vis pill every 50' vs. starting with 10.5 ppg, this will save on cost.
Posted on 2/1/22 at 10:42 am to ragincajun03
Here's the take-away:
It's simply more expensive to produce oil in the US compared to most OPEC nations. As the price goes over $100/bbl, domestic production will increase due to increased profitability - and shareholder interests.
In 1980 the price of oil was at about $132/bbl. That translates to $446/bbl today. I ain't scared.
quote:
U.S. public oil companies are still beholden to their shareholders
It's simply more expensive to produce oil in the US compared to most OPEC nations. As the price goes over $100/bbl, domestic production will increase due to increased profitability - and shareholder interests.
In 1980 the price of oil was at about $132/bbl. That translates to $446/bbl today. I ain't scared.
Posted on 2/1/22 at 10:44 am to LSUfanNkaty
I dunno anything about O&G but there will be shitloads more people as well as wealthier people in 3rd world countries that. An afford cars and other ICE vehicles. There will be an increase in demand simply from population growth. Pre people need to eat and get their Amazon packages.
Posted on 2/1/22 at 10:54 am to JL
quote:
You're the one who misspoke, not me. I just wanted to make sure you were safe out there if y'all were actually gonna spud with that mud weight.
I would recommend jetting with seawater, pumping a high vis pill every 50' vs. starting with 10.5 ppg, this will save on cost.
All of a sudden one of these Houston junkies are worried about safety, but not without mentioning cost.
I'm gearing up to bring a new well online this week. No sleep for this guy.
Posted on 2/1/22 at 10:58 am to ragincajun03
Y'all whine when oil it's cheap.
Y'all whine when oil isn't cheap.
Make up your fricking kinda already.
Y'all whine when oil isn't cheap.
Make up your fricking kinda already.
Posted on 2/1/22 at 11:13 am to elprez00
quote:
Never forget that Trump ended our dependence on foreign oil
bullshite! No he didn't. Trump did not invent fracking and he did not invent directional drilling. Private Americans ended our dependence on foreign oil, and the trend was well under way long before Trump took over. In spite of Obama's hostility to oil and gas, the US production boomed under him.
There was so much oil production under Obama that a glut resulted in an oilfield recession starting in 2014. When production balanced with consumption the surge in US production was reestablished right as Trump took office and before any important changes in government policy.
Trump stayed out of the way, which is good. But crediting Trump with the oil boom is like crediting Bill Clinton for balancing the budget, which was done by a Republican congress working with the Reagan peace dividend.
Posted on 2/1/22 at 11:16 am to Klark Kent
quote:
if people are dumb enough to believe oil is going anywhere anytime soon…. i’d love them to explain how plastics, lubes, oil byproducts they use everyday are going to be made?
No one gives a shite about the small amount of oil used for plastics, etc. The giant amount of CO2 being released from oil production is coming from oil used for energy, not plastics.
Posted on 2/1/22 at 11:17 am to Penrod
quote:
bullshite! No he didn't.
quote:
Penrod
Checks out
Posted on 2/1/22 at 11:20 am to ragincajun03
And to think a little over two years ago we had energy independence, the strongest economy since WWII, and stability on the foreign policy stage. Then we threw it all away because a bunch of anxiety riddled, feeble minded, idiots got upset over fricking mean tweets and a flood of leftist propaganda. We, as a country, deserve all the shite happening now. We’ve done it to ourselves.
Posted on 2/1/22 at 11:22 am to Penrod
It’s not just plastics. It’s all the hydrocarbon derivatives, chemicals, and yes, plastics.
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