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re: OPEC is in a struggle for its survival. It could mean $40 oil - CNN.
Posted on 7/8/26 at 7:24 am to Timeoday
Posted on 7/8/26 at 7:24 am to Timeoday
quote:Not in O&G but wouldn't $40 kind of shut down domestic drilling as in it costs more than that to get it out of the ground?
OPEC is in a struggle for its survival. It could mean $40 oil - CNN.
2
Posted on 7/8/26 at 8:04 am to Diamondawg
quote:
wouldn't $40 kind of shut down domestic drilling as in it costs more than that to get it out of the ground?
Wouldn’t completely shut it down, but there’d be a massive scale back, especially if we stayed at $38-42 for a significant amount of time. Our import vs export ratio of crude would probably to up.
Posted on 7/8/26 at 9:13 am to Diamondawg
quote:
Not in O&G but wouldn't $40 kind of shut down domestic drilling as in it costs more than that to get it out of the ground?
That's what they tell ya. They would rather overcharge and not worry about the bottom line than be reasonable and aware of it.
I will take $40 barrels of oil for the rest of my life if it can be done.
Posted on 7/8/26 at 2:32 pm to Timeoday
Gov will just raise tax on per gallon and your savings will be miniscule. Nobody is taking their hand out of the cookie jar willingly
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