re: Low Gas Prices, People don't understand the Problems

Don't feel too bad, prices will be back up in the mid $70s within the next year or 2. The cutting and blood letting shouldn't be too extreme. The service companies and field landmen will get their asses kicked though (sorry Laffy).

Anyone who gets into a boom or bust industry shouldnt act surprised when it has its share of busts.

You ride the wave, you have a backup plan when that wave crashes, then ride it again.

Not anyone's fault so many dont think it through

Hardly

Then I guess you've never met a doctor or a lawyer

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I don't think it's too much of an overreaction when we are paying $4 for gas but reports come out that Exxon turned a $4 billion profit for the quarter. (just making up numbers for the sake of the argument)

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Supply and demand. Energy companies are very capital-intensive and assume a tremendous amount of risk due to the cyclical nature of the industry. Moreover, a shitload of Americans can attribute a significant amount of their financial well-being to these evil corporations.

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No other industry can get away with the collusion that the energy market does.

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Aside from OPEC, which is entirely irrelevant to this thread, what on earth are you talking about?

Lou, can you ever stay on point? How does that help prices??? Prices are still falling like a stone; the export ease is a no factor.

And light crude isn't going to compete with Saudi medium/heavy. We may displace some Algerian oil but the market doesn't give a frick...OPEC isn't a cartel anymore.

You are grossly misinformed. If prices fell to $30 today, what I said about upward pressure would still be the same argument. The quote I mentioned corroborates my point last week that it's a longer term boost (of which I gladly admit I have no clue about the magnitude). Regardless, there are a lot of dynamics in play, and the move is just one of them. It in no way changes what I said.

And of course OPEC is a cartel. Like every cartel known to man, it's never perfect. They hovered over their 30 mmbpd quota for most of 2H14.

Keep spinning Lou...its a nonfactor as I stated, I'm right and you're wrong. I know it's hard for an egoist like yourself to admit, but facts are facts. Hey, I'm sure you're a great staff accountant. Good luck to you!

I think it's even funnier that you think I misused egoist and that you actually misused irony. But I understand that book keepers struggle with words, you've got my sympathy little fellow.