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Started By
Message
re: Oil back below $40
Posted on 8/1/16 at 5:12 pm to Jim Rockford
Posted on 8/1/16 at 5:12 pm to Jim Rockford
This shite needs to end.
1
Posted on 8/1/16 at 5:16 pm to SOLA
What shite? The free market?
Posted on 8/1/16 at 5:29 pm to Jim Rockford
Great news.
Posted on 8/1/16 at 6:23 pm to OweO
quote:
Actually I think $70-$75 a barrel is where it needs to be to keep everyone
Onshore shale has rebalanced and needs around $60 oil for sustainability. Offshore deep water needs $75-$80.
Posted on 8/1/16 at 6:25 pm to Jim Rockford
Hang on, I'm going to pawn my truck nuts.
< Jump the gun on the comeback
< Jump the gun on the comeback
Posted on 8/1/16 at 6:26 pm to Chicken
quote:
Has anyone mentioned truck nuts yet?
Truck nuts? This is the OT. We do jet nuts around here, baw.
Posted on 8/1/16 at 6:38 pm to Jim Rockford
Gas prices dropping consistently again. I've seen it in the high $1.60s and it's still summer. We're going to have some really low prices this winter.
Posted on 8/1/16 at 6:42 pm to OweO
quote:
where it needs to be to keep everyone happy,
Huh? The cheaper energy is, the better.
Posted on 8/1/16 at 6:48 pm to Jim Rockford
$1.68/gallon and fricking loving it.
Posted on 8/1/16 at 6:53 pm to Asgard Device
quote:
Huh? The cheaper energy is, the better.
Not necessarily. This downturn has been a good example. The savings at the pump has not correlated to other discretionary spending. Cheaper energy is good, but you can argue there is a point where it becomes a net drag.
Posted on 8/1/16 at 7:02 pm to CAD703X
quote:
have we hit peak oil yet?
i'll hang up and listen.
Well, I am seeing numbers out there like 30 of the 42 largest oil producers in the world are past peak and/or only 14 of the 54 oil producing countries are increasing production. Also, while that U.S. increase below is a nice shot in the arm, I don't think it's sustainable long term:
You think tight plays that decline quickly are some long term solution? How about EROEI of the fields in the US owns Saudi thread? But, oil and gas are cheap this very minute, so peak oil must be a myth.
Posted on 8/1/16 at 7:04 pm to OweO
Upvotes/downvotes tell the story.
Posted on 8/1/16 at 7:47 pm to ksayetiger
I'll tell you what happened around 2002, Dick Cheney met with all the CEOs of the major oil companies on May 16, 2001. The transcript of their meeting has been kept secret to this day.
Posted on 8/1/16 at 7:57 pm to slackster
quote:
Cheaper energy is good, but you can argue there is a point where it becomes a net drag.
LOL, Jesus Christ, people. We have saved 10x more at the pump than would ever have been spent on wages.
Get your broken window fallacy out of here and get on board comparative advantage.
Posted on 8/1/16 at 8:34 pm to ksayetiger
quote:
Gas prices have everything to do with oil futures
FIFY
Posted on 8/1/16 at 8:41 pm to colorchangintiger
there is more oil right now than the world can consume. 
Posted on 8/1/16 at 8:42 pm to Asgard Device
quote:
Huh? The cheaper energy is, the better.
The lower the price of oil the more we will be importing from the Middle East. If you want American energy independence it comes at a price...and that price is north of $60 / bbl.
Posted on 8/1/16 at 8:44 pm to Jim Rockford
And once we move into the winter blend then gas prices fall further 
FYI... I work for a major producer.
FYI... I work for a major producer.
Posted on 8/1/16 at 8:48 pm to Jim Rockford
quote:
Oil back below $40
frick yes.
It's such a satisfying feeling of not being raped at the pump anymore.
Posted on 8/1/16 at 8:59 pm to ksayetiger
quote:
Gas prices have little to do with oil prices
proof that any idiot can use a computer and post on the OT.
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