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1
Posted on 7/7/26 at 9:57 am to dstone12
The proper adjustments will be made, as they have in the past, when the price plummets. But in the end, we will be much better for it.
Posted on 7/7/26 at 10:15 am to Timeoday
quote:
The proper adjustments will be made
That they will.
You will see a decline in U.S. oil production like we did Q4 2015 though all of 2016 until prices started moving back above low 40s, and just like we did we did in 2020 until prices started recovering in 2021.
U.S. companies aren’t going to drill new, expensive, non-lease or unit saving wells to bring on new production at a negative profit margin. Their investors aren’t going to go for that.
Posted on 7/7/26 at 10:38 am to Timeoday
$40 oil would cause a financial crisis in Texas, Louisiana and a lot of other areas. You guys sure you want this?
Posted on 7/7/26 at 10:39 am to ragincajun03
Exactly. The price will be down and almost all American consumers will benefit.
Posted on 7/7/26 at 10:40 am to Ramblin Wreck
quote:
$40 oil would cause a financial crisis in Texas, Louisiana and a lot of other areas. You guys sure you want this?
It will not effect my portfolio at all. As a matter of fact, there will be some bargains to be had!!
Posted on 7/7/26 at 10:42 am to Timeoday
So a lack of tax dollars and high unemployment all along the gulf coast won’t effect you?
Posted on 7/7/26 at 10:53 am to Ramblin Wreck
quote:
So a lack of tax dollars and high unemployment all along the gulf coast won’t effect you?
Not at all. But I do love gulf coast seafood and I expect that price to rise as more American consumers have more money to spend.
Posted on 7/7/26 at 2:35 pm to Timeoday
quote:
You sound like a landman trying to convince me to sign a net royalty lease.
Have you ever sat in your car in line hoping the gasoline at the station wouldn't run out when it was finally your turn?
This post was edited on 7/7/26 at 2:36 pm
Posted on 7/7/26 at 2:42 pm to CitizenK
Thank God they are building more refineries and the USA just destroyed Iran's ability to control the Strait!!
Posted on 7/7/26 at 2:45 pm to Timeoday
quote:
Thank God they are building more refineries and the USA just destroyed Iran's ability to control the Strait!!
Number of refineries doesn't make a rat's arse unless you don't know shiite from shinola about them. You definitely have the mind of a self-centered Democrat.
Posted on 7/7/26 at 6:15 pm to Timeoday
quote:
It will not effect my portfolio at all. As a matter of fact, there will be some bargains to be had!!
Bankruptcies? This also affects US manufacturing. Feedstock from oil refineries for chemicals is an overseas thing. NGL's from Wet Natural Gas is the low cost producer when oil is over $70.
Posted on 7/7/26 at 6:20 pm to Ramblin Wreck
High gas prices and some people benefit as you say.
Cheap gas?
Almost everyone benefits.
Guess what the American people should pick.
Don't ever put all your eggs in one basket.
Cheap gas?
Almost everyone benefits.
Guess what the American people should pick.
Don't ever put all your eggs in one basket.
Posted on 7/7/26 at 10:06 pm to CitizenK
So you're saying we really only need one refinery. Is that what you are saying?
Posted on 7/7/26 at 10:35 pm to Timeoday
quote:
So you're saying we really only need one refinery. Is that what you are saying?
That would be stupid. Nearby petrochemical plants have a symbiotic relationship with refineries. We have more refining capacity than we need. Refineries MUST export fuels to remain in business. We have refineries which are shutdown because we don't need them. In fact, I have one for sale.
Posted on 7/7/26 at 10:53 pm to Timeoday
Trump always has a plan.
Posted on 7/7/26 at 10:56 pm to stout
Someone help me out a little, whats he done to help bring this situation about, I'm not doubting it, I just haven't heard about this
Posted on 7/8/26 at 2:43 am to Timeoday
quote:
I see you have been indoctrinated
quote:
Average breakeven prices for new wells in the Permian Basin range from $63 to $69 per barrel for West Texas Intermediate (WTI) crude. The Delaware Basin averages roughly $63 and the Midland Basin hovers around $69, though premier "Tier 1" locations can yield breakeven points below $50 per barrel
Posted on 7/8/26 at 2:48 am to CitizenK
quote:
Have you ever sat in your car in line hoping the gasoline at the station wouldn't run out when it was finally your turn?
It’s not 1979 buddy, we are currently producing more oil than any nation in the history of the world
Posted on 7/8/26 at 6:22 am to hubertcumberdale
quote:
It’s not 1979 buddy, we are currently producing more oil than any nation in the history of the world
A lot of this "oil" is technically condensate. It can legally be called oil because of 1970's legislation by Congress to ban exports. That is around 3.5 million barrels per day which refineries built for light sweet crude go bankrupt trying to refine as is.
The term oil is used even more loosely by some government officials who include NGLs (ethane, propane, butane and pentanes plus)
The USSR produced more in 1987. Saudi Arabia bested that in 2018
This post was edited on 7/8/26 at 6:30 am
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