We may see $30.00 oil the man says on CNBC
- Thread starter OlecountryDawg
- Start date
US oil production last week was at 42 year high. Per rig efficiency has
More than tripled in the past 4 years in the Bakken and Eagle Ford regions.
Production is still increasing, not decreasing. Takes 1/3 less rigs today to pump the same oil as 4 years ago.
Strong dollar pushing down oil prices, too.
More than tripled in the past 4 years in the Bakken and Eagle Ford regions.
Production is still increasing, not decreasing. Takes 1/3 less rigs today to pump the same oil as 4 years ago.
Strong dollar pushing down oil prices, too.
Gonna be a heck of a summer on Lake Lanier if gas is
less than $3.
This post was edited on 3/11 3:15 PM by ChickenCityDawg
less than $3.
This post was edited on 3/11 3:15 PM by ChickenCityDawg
Will keep falling until the Arab oil producers say, "When". That'll
be when they've assured themselves that the U.S. is no longer a threat with real petroleum independence. Once that guarantee is in the price per bbl will stabilize. Have no idea when that'll occur but you can bet the oil sands, fracking, oil shale will be practically shut down. So long as they have $11+/- bbl wellhead cost everybody else is just dreaming. Meanwhile the American consumer will continue to reap the benefits at the pump. Plus Saudis love to tweak the Iranians whenever possible cause falling prices hurt them plus anybody else backing ISIS. There's allot more geo-political crap in play here than merely economics of supply v demand.
be when they've assured themselves that the U.S. is no longer a threat with real petroleum independence. Once that guarantee is in the price per bbl will stabilize. Have no idea when that'll occur but you can bet the oil sands, fracking, oil shale will be practically shut down. So long as they have $11+/- bbl wellhead cost everybody else is just dreaming. Meanwhile the American consumer will continue to reap the benefits at the pump. Plus Saudis love to tweak the Iranians whenever possible cause falling prices hurt them plus anybody else backing ISIS. There's allot more geo-political crap in play here than merely economics of supply v demand.
