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re: Anyone else tired of listening to oil workers bitch about the cost of oil
Posted on 1/22/16 at 1:27 pm to Tchefuncte Tiger
Posted on 1/22/16 at 1:27 pm to Tchefuncte Tiger
quote:
Maybe they should have thought about the volatility of their chosen field before they bought the expensive bay boat and the 3/4 ton 4x4 pick-up truck.
Maybe some of us did think about that?
I'm still employed but I'm hanging onto a car with over 200K miles
1
Posted on 1/22/16 at 1:27 pm to LSUfan0420
quote:There is so much fail in your whole post. It is really mind boggling that someone would think this way. You must either not be in the business, stupid, or high. Maybe a combination of all 3.
But the terrorist nations are flooding the markets with access amounts to purposely put American businesses out of work and force the industry to shut down...t
Posted on 1/22/16 at 1:29 pm to slackster
I got you. Yeah the companies made the assumption that OPEC would do what OPEC has traditionally done and it bit them in the arse, but you sometimes have to take risks like they did two or three years ago To try to cash in now. Unfortunately too many took that same risk.
Posted on 1/22/16 at 1:30 pm to htownjeep
I mean other that slightly awkwardly calling them terrorist nations, he is totally correct. Saudi Arabia is producing at full steam despite the fact that their returns are (likely) shite just to try to curb U.S. supply. It is a well known fact.
Posted on 1/22/16 at 1:32 pm to Powerman
quote:
I'm still employed but I'm hanging onto a car with over 200K miles
I was referring more to the blue collar types who work on the rigs.
Posted on 1/22/16 at 1:33 pm to Tchefuncte Tiger
quote:ahh, the stereotype lives on.
Maybe they should have thought about the volatility of their chosen field before they bought the expensive bay boat and the 3/4 ton 4x4 pick-up truck.
I know many engineers and not one fits this description
ETA: I see your reply to Powerman
This post was edited on 1/22/16 at 1:34 pm
Posted on 1/22/16 at 1:34 pm to SayBaw
quote:
SayBaw
Best first post I've seen in awhile
Posted on 1/22/16 at 1:37 pm to CorporateTiger
quote:No. No they're not.
Saudi Arabia is producing at full steam despite the fact that their returns are (likely) shite just to try to curb U.S. supply. It is a well known fact.
Posted on 1/22/16 at 1:37 pm to CorporateTiger
quote:
I mean other that slightly awkwardly calling them terrorist nations, he is totally correct. Saudi Arabia is producing at full steam despite the fact that their returns are (likely) shite just to try to curb U.S. supply. It is a well known fact.
Ehh, I wouldn't say he is totally correct when his statement implies that the Saudis are responsible for the supply glut.
Posted on 1/22/16 at 1:37 pm to SayBaw
quote:pathetic alter and troll attempt.
I'm loving the price drop. I was sick of trying to order Truck Nutz and constantly being put on backorder.
so now that we have more oil than we know what to do with....can we please stop cutting it with fricking ethanol?
Posted on 1/22/16 at 1:41 pm to slackster
quote:you have a link for that chart?
slackster
Posted on 1/22/16 at 1:45 pm to ForeverLSU02
quote:
you have a link for that chart
Motley Fool
You can get the raw data in the EIA reports though.
Saudi is trying to hurt US producers, but they're not doing it by ramping up production, they're doing it by staying the course.
It's as if Saudis were minding their own damn business and the US bumped into them then got pissed when they didn't move out of their way. Granted, historically the Saudis have moved out of the way, but you can't blame them for holding their ground when they decide enough is enough.
This post was edited on 1/22/16 at 1:47 pm
Posted on 1/22/16 at 1:46 pm to CorporateTiger
OPEC has increased production and is holding mkt share, that graph shows percent change, doesn't mention volume. Huge difference in what the US produces vs. the hajis. Earl will be back.
Posted on 1/22/16 at 1:48 pm to CorporateTiger
quote:"not reigning in production" does not equate to wild increases in production. They are simply executing their plan/budget that they came up with years ago.
stating that the OPEC is trying to put pressure on U.S. shale drillers by not reigning in production.
Ali al-Naimi has stated on more than one occasion he would be willing to sit at the table and everyone could come up with a plan to balance the market, but Saudi will not do it themselves.
They did it before and it bit them in the arse. They won't do it again.
Posted on 1/22/16 at 1:55 pm to htownjeep
Except for the reasons I've mentioned before and pesky little things like antitrust laws that offer is hollow.
I never said they were wildly increasing production. I said they are producing [their assets] at full steam which is true. OPEC has traditionally curtailed their production in situations like this to prop up the price.
They choose not this time because they are cheaper producers and can put financial pressure on the U.S. shale market eventually resulting in a lot of bankruptcies
I never said they were wildly increasing production. I said they are producing [their assets] at full steam which is true. OPEC has traditionally curtailed their production in situations like this to prop up the price.
They choose not this time because they are cheaper producers and can put financial pressure on the U.S. shale market eventually resulting in a lot of bankruptcies
Posted on 1/22/16 at 1:56 pm to White Bear
quote:
OPEC has increased production and is holding mkt share, that graph shows percent change, doesn't mention volume. Huge difference in what the US produces vs. the hajis
According to EIA, the US produced 8.564M barrels per day of petroleum and other liquids in 2008. Saudi produced 11.429M barrels per day.
Flash forward to 2014, the last year where they have data, and the US produced 14.021M barrels per day while Saudi produced 11.624M barrels per day.
Whose the aggressor in this again?
Posted on 1/22/16 at 2:02 pm to CorporateTiger
quote:Which is incorrect. They could increase much more if they wanted to. They are simply sticking to their plan.
I said they are producing [their assets] at full steam
quote:And OPEC met in late 2014 to discuss that and Saudi told them to stick it up their arse because the last time they did it, they lost market share.
OPEC has traditionally curtailed their production in situations like this to prop up the price.
quote:There are many, many other factors.
They choose not this time because they are cheaper producers and can put financial pressure on the U.S. shale market eventually resulting in a lot of bankruptcies
I'm a project manager in the O&G industry and my biggest client? Saudi Aramco. I know a little bit about the situation and from a much closer prospective than probably most on here.
This post was edited on 1/22/16 at 2:03 pm
Posted on 1/22/16 at 2:02 pm to CorporateTiger
quote:
Except for the reasons I've mentioned before and pesky little things like antitrust laws that offer is hollow.
I think they're getting pretty serious about that offer, or at least the market is acting like they are, considering their recent comments in Davos.
They can't collude with US producers, but they obviously have a large influence on OPEC, and they got burned by their owned members in the past.
As I mentioned earlier, I have a hard time placing any blame on Saudi when the US is the one who overtook them as the world's largest producer.
Posted on 1/22/16 at 2:04 pm to cdaniel76
quote:stop visiting facebook. there, fixed
Anyone else tired of listening to oil workers bitch about the cost of oil
Seeing it all over Facebook. Hearing it from friends and family all over.
This post was edited on 1/22/16 at 2:05 pm
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