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Started By
Message
re: Prices Fall to a Six-Year Low for U.S. Oil
Posted on 3/17/15 at 10:22 am to panterica
Posted on 3/17/15 at 10:22 am to panterica
quote:
The point I was making its that it is more international than people are making it seem. There are many many factors involved that haven't been discussed here. Maybe O&G fellas should pay off a few things and learn to live within their means, if their income is from 60-100 hour weeks offshore or whatever.
Maybe you shouldn't make baseless statements about something you don't understand.
0
Posted on 3/17/15 at 10:23 am to BamaScoop
quote:
They are, that is why when the prices fell they laid people off and shut down the pumps. The saudis are driving the oil prices down to cause the americans to stop pumping oil. We are idiots for buying a single fricking thing from a muslim nation. We should launch a jihad and take the middle east over and just take their fricking oil. We need to join with other nations and eradicate muslims.
Bama fans.
Posted on 3/17/15 at 10:23 am to htownjeep
quote:
If anything, OPEC (driven by Saudi Arabia) has told everyone "thanks but no thanks" to the request to slow their production.
Which drops prices. Maybe I said it in a lazy black and white manner, but you're not even saying anything different from me there. They're not going anywhere, but this isn't gonna be some kind of comic book radiation effect on them either. Balance will come.
Posted on 3/17/15 at 10:26 am to Nado Jenkins83
quote:
Healthcare people just jealous of those with no degree and no student loans making as much or more than them.
I don't have a degree. I'm retired from the Army and make a pretty good living working in a hospital. And last time I checked, the medical industry is more immune to market changes and fluctuations than O&G.
Posted on 3/17/15 at 10:27 am to cwill
Traditional economic factors don't always transition well to O&G economics, but many treat them the same.
Posted on 3/17/15 at 10:27 am to panterica
quote:No. Once again you are wrong. They have not dropped the prices. For the most part, we have. They are continuing with the plan that they've had in place waaaaay before any of this started. They have just simply said we are not cutting our plan because you numbnuts decided to go crazy on the drilling side.
Which drops prices.
quote:Holy shite, you said something I agree with.
They're not going anywhere,
Posted on 3/17/15 at 10:28 am to panterica
quote:
and the overall economy is getting better.
Do you just make this up? Do you have any idea WTF you are talking about?
quote:
U.S. Economic Confidence Edged Down in February
LINK
quote:
The shift in the last two weeks of February marks the largest downturn in weekly economic confidence since last July.
quote:
experts predicting that gas prices will continue to rise into the spring because of reduced production at U.S. refineries, and assuming gas prices affect how Americans look at the economy, it could be difficult for economic confidence to recover its recent momentum without significantly positive economic news elsewhere.
Posted on 3/17/15 at 10:28 am to Austin Cajun
quote:
I can say with 100% certainty that the price of oil has no bearing on whether or not Xray machines break in my region.
I can almost guarantee we do the same thing for a living.
Posted on 3/17/15 at 10:33 am to htownjeep
quote:
No. Once again you are wrong. They have not dropped the prices. For the most part, we have.
Dude... It's the supply. The supply influences the cost. And you're admitting that here and calling me wrong about it in the same breath. Y'all argue away about the sky falling. I'm in oil and gas and see first hand how many projects are getting started and/or not slowing down. The chicken littles are a pet peeve of mine, and I'm out of energy trying to explain how the sky is still there.
This post was edited on 3/17/15 at 10:37 am
Posted on 3/17/15 at 10:33 am to panterica
quote:
Nah. It's good. Trust me.
If by good you mean they cancelled the GTL part for now, then yea it's good.
Posted on 3/17/15 at 10:35 am to tgrbaitn08
quote:
Do you just make this up? Do you have any idea WTF you are talking about?
quote:
U.S. Economic Confidence Edged Down in February
Your long term memory is nothing to brag about. Talking about one month in economics is like talking about three days of Louisiana weather.
Posted on 3/17/15 at 10:44 am to tigburls
Sasol will be okay in Lake Charles. That's all I can say about it.
Posted on 3/17/15 at 10:47 am to panterica
quote:
Sasol will be okay in Lake Charles. That's all I can say about it.
Oh there is no doubt there, as all the Petrochem side is still moving forward as scheduled. The GTL, which everybody was talking about, is not. Will it happen later on, hopefully.
Posted on 3/17/15 at 10:48 am to GREENHEAD22
quote:
You say that but if you live in LA or TX and this gets extended longer than a year you are going to feel it no matter what you do for a living.
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.
Posted on 3/17/15 at 10:56 am to panterica
quote:Which the US inflated at a time where the demand was dropping. I honestly do not know how I could explain this to you in a simpler form. Perhaps my 6 yr old could draw you a picture.
Dude... It's the supply. The supply influences the cost.
quote:I seriously question that. Perhaps I should say, I seriously doubt you are in the same type of oil and gas that I am in.
I'm in oil and gas
Posted on 3/17/15 at 10:58 am to htownjeep
quote:
I honestly do not know how I could explain this to you in a simpler form. Perhaps my 6 yr old could draw you a picture.
he's appears to be on the same learning curve
Posted on 3/17/15 at 11:04 am to TH03
Lots of people up in here who don't know wtf they're talking about. That's not unusual here.
Posted on 3/17/15 at 11:06 am to GonePecan
quote:
Lots of people up in here who don't know wtf they're talking about. That's not unusual here.
This place is just brimming with economic scholars.
Posted on 3/17/15 at 11:08 am to htownjeep
quote:
Which the US inflated at a time where the demand was dropping. I honestly do not know how I could explain this to you in a simpler form. Perhaps my 6 yr old could draw you a picture.
And this contradicts anything I've said? Wtf are you even arguing against anymore?
Current OPEC vs. US production in a nutshell
[quote]I seriously question that.[quote]
I'm a piping designer. I've worked offshore and downstream with oil, gas, and plastics. Which doesn't even matter, because you don't need to be an insider to understand this.
Posted on 3/17/15 at 11:15 am to panterica
That article is 6 months old
Plus these are your words.....
quote:
OPEC has been calling the shots on oil prices months ahead of time for decades. US oil companies taking more claim in the domestic supply has influenced OPEC to react and drop prices on purpose. It's politics among businesses.
quote:
the production increase was partially a subtle political "f you guys" between us and the middle eastern countries.
quote:
Low prices now are a result of domestic drilling and taking power away from OPEC.
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