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re: America's oil industry is 'dead in the water'
Posted on 4/27/16 at 7:09 pm to rmnldr
Posted on 4/27/16 at 7:09 pm to rmnldr
I would pay $3 a gallon if it would screw SA.
Putin wishes he could bend us over like they do.
I read where they are gonna diversify their economy off of oil revenue.
Good effing luck.
1
Posted on 4/27/16 at 7:12 pm to N2cars
Posted on 4/27/16 at 7:13 pm to Major Dutch Schaefer
Time to invest in wind farms 
Posted on 4/27/16 at 7:15 pm to The First Cut
quote:
Why are you celebrating the return to the days of dependence of foreign oil? Do you realize what will happen when demand exceeds the reduced supply once provided by domestic firms?
Do you?
Oil is a fungible commodity.
Posted on 4/27/16 at 7:19 pm to Major Dutch Schaefer
Hasn't Pickens been wrong on all kinds of shite lately?
His diversification makes me skeptical of his predictions as they may be an effort to influence the success of his latest investment.
His diversification makes me skeptical of his predictions as they may be an effort to influence the success of his latest investment.
Posted on 4/27/16 at 7:19 pm to rmnldr
quote:
Why do we allow them to do this to us?
The answer to this question will FIX everything.....
Posted on 4/27/16 at 7:20 pm to upgrayedd
Pickens has been wrong for a few years now.
Posted on 4/27/16 at 7:21 pm to upgrayedd
quote:
Pickens
similar to Jerry Jones, just because you hit the lotto doesn't make you a genius
Posted on 4/27/16 at 7:24 pm to Volvagia
quote:
Oil is a fungible commodity.
Sure it is, what does that have to do with it?
Worldwide exploration is way down and every day the existing wells depleting more. Demand will catch up to supply and that supply will overwhelmingly be available from markets that are part of a cartel. Most of these states use the proceeds to fund terror efforts against us. So they stick it to us with inflated pricing propped up by collusion and then use the money to strike us. We started producing more and taking market share from the cartel, lessening its ability for nefarious works. Now Americans are celebrating the return to dependence on the Middle East. I don't get it, other than sheer ignorance.
Posted on 4/27/16 at 7:36 pm to The First Cut
quote:
Worldwide exploration is way down and every day the existing wells depleting more. Demand will catch up to supply and that supply will overwhelmingly be available from markets that are part of a cartel. Most of these states use the proceeds to fund terror efforts against us. So they stick it to us with inflated pricing propped up by collusion and then use the money to strike us. We started producing more and taking market share from the cartel, lessening its ability for nefarious works. Now Americans are celebrating the return to dependence on the Middle East. I don't get it, other than sheer ignorance.
We need to get you an economics book and a tin foil hat, the market sets the price and producers will produce at that price or stop production. You then seem to be arguing against yourself saying that the wells that are pumping are drying out while the americans who arent pumping at this low price are screwing themselves into foreign dependence. All while hinting that everyone in the middle east is a terrorist.
Posted on 4/27/16 at 7:37 pm to BRgetthenet
quote:
This guy Pickens knows his shite.
Maybe so, but didn't he invest in that damned Y car shite in NELA?
Posted on 4/27/16 at 7:39 pm to Major Dutch Schaefer
quote:
he said higher than $40 or $50 a barrel - probably clos
It kind of depends on the situation where you're drilling
This post was edited on 4/27/16 at 7:40 pm
Posted on 4/27/16 at 7:40 pm to The First Cut
Pickens has been wrong consistently of late.
I don't see it going to much higher in the near future. The stockpiles are still going up, slower than in the past, but still up. Gasoline stocks were may over shot on their estimates last month, people are using more gas than they thought. Distillates estimates were close but over estimated, not as many 250s rolling around these days.
Although refinery utilization is still down from maintenance turnarounds. We also still have the summer, where gasoline and distillates will be up with traveling vacationers.
But back to the topic at hand, oil is definitely not dead in the water. SA will be tailoring back their E&P over the next decade or two, due to their economic diversification and the fact that the only prospects left in their territory are deep water offshore. Shale is getting cheaper with the advancements in fraccing and horizontal drilling. It's getting cheaper to drill horizontal wells due to the drilling time going way down.
I don't see it going to much higher in the near future. The stockpiles are still going up, slower than in the past, but still up. Gasoline stocks were may over shot on their estimates last month, people are using more gas than they thought. Distillates estimates were close but over estimated, not as many 250s rolling around these days.
Although refinery utilization is still down from maintenance turnarounds. We also still have the summer, where gasoline and distillates will be up with traveling vacationers.
But back to the topic at hand, oil is definitely not dead in the water. SA will be tailoring back their E&P over the next decade or two, due to their economic diversification and the fact that the only prospects left in their territory are deep water offshore. Shale is getting cheaper with the advancements in fraccing and horizontal drilling. It's getting cheaper to drill horizontal wells due to the drilling time going way down.
Posted on 4/27/16 at 7:42 pm to The First Cut
quote:
Why are you celebrating the return to the days of dependence of foreign oil? Do you realize what will happen when demand exceeds the reduced supply once provided by domestic firms?
Then quit paying the redneck trash that gets employed 80-120k out the gate.
Otherwise. Who gives a shite.
Posted on 4/27/16 at 7:44 pm to Hickok
quote:
the market sets the price
I'm generally in your camp. The one thing I don't understand, though, is the extent to which the Goldman Sachs and hedge funds of the world can manipulate markets with paper. I don't think it's an issue now, but some people blamed them for them for the run-up to $147 oil, and the precious metals bugs are always crying foul over price manipulation unrelated to actual supply. Other people will tell you that the strength of the dollar is absolutely a factor, too.
This post was edited on 4/27/16 at 7:48 pm
Posted on 4/27/16 at 7:47 pm to MadtownTiger
Crude Tankers Bound for China Surge Amid Stockpiling Signals
China buying hand over fist right now, supporting and driving the price up, perhaps momentarily.
We're pretty much full to the brim over here, once China decides they are I think we could see another drop.
China buying hand over fist right now, supporting and driving the price up, perhaps momentarily.
We're pretty much full to the brim over here, once China decides they are I think we could see another drop.
Posted on 4/27/16 at 7:52 pm to Hickok
quote:
We need to get you an economics book and a tin foil hat, the market sets the price and producers will produce at that price or stop production. You then seem to be arguing against yourself saying that the wells that are pumping are drying out while the americans who arent pumping at this low price are screwing themselves into foreign dependence. All while hinting that everyone in the middle east is a terrorist.
I've studied economics and I know exactly why US firms are struggling. The market is setting the price and the US firms can't produce at that price. It's far cheaper to produce in the Middle East (in some states it's as little as under $10/bbl.). The US can't produce at that price and that jeopardizes viability of domestic production. Don't forget, you need oil to defend your nation (precisely why we have stretegic reserves). Japan doesn't have an oil industry so Imperialist Japan conquered South Pacific nations to ensure supply during WW II, the US's first strategy post-Pearl Harbor was to liberate those nations but Patton lost his position. We simply cannot allow ourselves to be dependent on foreign oil, especially when the dependency is satisfied by nations increasingly hostile to us. This is far more important than Carrier sending air conditioning jobs to Mexico.Posted on 4/27/16 at 7:52 pm to TigerDeBaiter
Pickens is also a huge proponent and investor in wind farms and wind energy. Him proclaiming the industry is dead in the water is like McDonalds claiming Popeyes is dead in the water. There is most definitely an alterior motive at play.
Posted on 4/27/16 at 7:54 pm to PepaSpray
quote:
Then quit paying the redneck trash that gets employed 80-120k out the gate.
If it was so easy, and they were so overpaid, why didn't you take the oil companies up on their generous offers?
Posted on 4/27/16 at 7:56 pm to Major Dutch Schaefer
TBoone is full of shite, which seems to be a pattern of his recently.
Onshore shale cost has bent permanently lower, and the US is now going to function as a swing producer.
Onshore shale cost has bent permanently lower, and the US is now going to function as a swing producer.
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