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re: Prices Fall to a Six-Year Low for U.S. Oil
Posted on 3/17/15 at 11:18 am to tgrbaitn08
Posted on 3/17/15 at 11:18 am to tgrbaitn08
quote:Thanks. I was sitting here thinking "jesus, now I have to read his bullshite again?".
tgrbaitn08
0
Posted on 3/17/15 at 11:24 am to tgrbaitn08
OPEC continued production while supposedly underestimating US influence on supply. It wasn't smart for them. And if you're unaware of the tensions involved between us and them, then you haven't paid any attention. They will probably cut back some, allowing prices to go up, and US production will most likely be just fine.
Posted on 3/17/15 at 11:29 am to panterica
quote:
They will probably cut back some,
They have already made it clear they are NOT cutting back production. Why should they? Try doing a little research on a subject that you obviously know nothing about.
quote:
OPEC continued production while supposedly underestimating US influence on supply. It wasn't smart for them.
It's actually very smart for them...they arent losing any market share just to raise the price of oil....they did that once and they have said they arent going to let that happen again. I dont blame them
This post was edited on 3/17/15 at 11:29 am
Posted on 3/17/15 at 11:29 am to panterica
quote:Damn. I guess when I was in Dhahran last week in a kickoff meeting with Saudi Aramco for a new $10MM project I was just awarded I should have had this information. Now I'm worried.
They will probably cut back some, allowing prices to go up
Posted on 3/17/15 at 11:33 am to tgrbaitn08
quote:They aren't.
They have already made it clear they are NOT cutting back production. Why should they?
quote:They wouldn't stop it even if they didn't gain market share. They WILL gain market share, but not the driving force behind them maintaining production.
It's actually very smart for them...they arent losing any market share just to raise the price of oil
Posted on 3/17/15 at 11:40 am to htownjeep
Mexico and Russia don't want to cut back. Fact is that prices aren't gonna drop to ridiculous levels and ruin Louisiana and Texas. Period. If/when production slows, it won't be announced ahead of time.
Prices expected to rise some, but not much
"It's my view that optimistic and positive people are more right than wrong," he said. "I'm confident that demand is, and will be, stronger. I'm also confident that supplies will be just sufficient to meet demand and that prices will firm up." - Saudi oil exec
But I guess y'all are right. Go buy your bunkers and horde your stuff. It's the end of everything as we know it.
Prices expected to rise some, but not much
"It's my view that optimistic and positive people are more right than wrong," he said. "I'm confident that demand is, and will be, stronger. I'm also confident that supplies will be just sufficient to meet demand and that prices will firm up." - Saudi oil exec
But I guess y'all are right. Go buy your bunkers and horde your stuff. It's the end of everything as we know it.
Posted on 3/17/15 at 11:43 am to panterica
quote:
OPEC continued production while supposedly underestimating US influence on supply. It wasn't smart for them. And if you're unaware of the tensions involved between us and them, then you haven't paid any attention. They will probably cut back some, allowing prices to go up, and US production will most likely be just fine.
You need to just stop, hit eject and leave this thread.
Posted on 3/17/15 at 11:45 am to panterica
quote:Please point to ONE example of where I said anything of the sort. Just one. Go ahead, I'll wait.
But I guess y'all are right. Go buy your bunkers and horde your stuff. It's the end of everything as we know it.
My issue with you is your total void of international knowledge on the subject and coming off as an expert in any way.
I haven't said there will be any sort of collapse at all. In fact, I don't know because the truth is that nobody knows. It all depends on when US companies have enough faith in the future to start opening up their budgets again and start spending on things they have recently put on hold and/or cut.
Posted on 3/17/15 at 11:45 am to panterica
You are posting links that contradict everything you've been saying.
Seriously? Are you mentally challenged?
Seriously? Are you mentally challenged?
Posted on 3/17/15 at 11:47 am to htownjeep
quote:
I haven't said there will be any sort of collapse at all.
no one has said that...in fact I said just the opposite.
This is word for word what I said...
quote:
Nobody here is intentionally driving oil prices down. They are happening because of the increase in production and soft demands. Those things will reverse
This post was edited on 3/17/15 at 11:48 am
Posted on 3/17/15 at 11:50 am to tgrbaitn08
quote:Mind boggling isn't it? As I read the article I was thinking "this would actually support what I was saying!" Funny how they had that meeting in Doha on Sunday. I had just passed through Doha not long before. But then again, I wasn't invited
You are posting links that contradict everything you've been saying.
Posted on 3/17/15 at 11:52 am to tgrbaitn08
You've been arguing and not even contradicting my points, so there's apparently some communication issues here.
I said they'll probably cut back some, but I wasn't talking about the near future. This past week they considered it and decided not to until they discuss it again in a few weeks. I still think they will at some point. Especially in either Saudi or Africa. I think the US will become a little more insulated from the international aspects with time.
Anyway, I'm done. I was just here to contradict the chicken littles. You win or whatever. I'll be enjoying zero worries about this issue in my O&G job field.
I said they'll probably cut back some, but I wasn't talking about the near future. This past week they considered it and decided not to until they discuss it again in a few weeks. I still think they will at some point. Especially in either Saudi or Africa. I think the US will become a little more insulated from the international aspects with time.
Anyway, I'm done. I was just here to contradict the chicken littles. You win or whatever. I'll be enjoying zero worries about this issue in my O&G job field.
This post was edited on 3/17/15 at 11:54 am
Posted on 3/17/15 at 11:52 am to htownjeep
Can I get we get Hummers again now?
Posted on 3/17/15 at 11:53 am to htownjeep
quote:
It all depends on when US companies have enough faith in the future to start opening up their budgets again and start spending on things they have recently put on hold and/or cut.
Actually the IEA is saying that the demand for energy is going to increase by 50% in the next decade or so and it will take $37 trillion dollars to meet that demand...oil and gas will rebound.
Posted on 3/17/15 at 11:55 am to tgrbaitn08
quote:Of course it will. I was talking about the immediate future on what you quoted from me. Long term, no doubt it will rebound. It always does. And it will always takes dips and correct itself. If you're in the industry and don't know this and plan for it, you won't be in the industry long.
oil and gas will rebound.
Posted on 3/17/15 at 11:56 am to panterica
quote:
You've been arguing and not even contradicting my points,
I've actually contradicted every point you've tried to make....Hell even you contradicted your own points
quote:
I said they'll probably cut back some, but I wasn't talking about the near future. This past week they considered it and decided not to until they discuss it again in a few weeks. I still think they will at some point.
Do you just make this stuff up because you think it sounds good?
This post was edited on 3/17/15 at 11:57 am
Posted on 3/17/15 at 11:59 am to tgrbaitn08
quote:
Do you just make this stuff up because you think it sounds good?
Yeah, that's what I'm doing..
From that link:
Instead, he said, the decision not to cut production was taken because non-OPEC producers (specifically, Russia and Mexico) would not agree to cut in a meeting the day before the official OPEC meeting.
Posted on 3/17/15 at 12:08 pm to panterica
that meeting was in November..not last week
quote:
The decision not to cut production was not about political motives.
but you said
quote:
but the production increase was partially a subtle political "f you guys" between us and the middle eastern countries.
Posted on 3/17/15 at 12:18 pm to tgrbaitn08
Business politics, man. It's semantics, and I explained that. Never heard of office politics? It means behind-the-scenes decisions of the guys in charge of multiple businesses that interact with each other. International representatives of their respective industries make 'political' statements, alliances, etc.
This is getting boring.
This is getting boring.
Posted on 3/17/15 at 12:26 pm to samson73103
quote:
This is bullshite. I live in Louisiana. I own a business that requires me to purchase, on average, 30,000-40,000 gallons of diesel annually. I'm tired of paying out the arse for the same fuel that I paid $1.00 a gallon for just prior to 9/11. I hope prices stay down. Yeah, I hate that some people may be out of work but those same people don't give a frick when I'm being billed $4 a gallon for fuel. The oil companies are still raking in multi-millions while I've seen skyrocketing input costs over the last decade strictly because of fuel prices. Also, the price of all goods and services have went thru the roof because of transportation costs. So excuse me if I don't get too upset about more money being in MY pocket.
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