Oil Prices

Moke ftmfw! glorious hair and a wizard that can see the future!

DougWilson - presidents dont set the price of oil or gas.

the saudis lowered the price to put pressure on Putin. supply is way up and demand has come down.

just shows that oil is priced how certains countries want it to be.

more drilling it installing that pipeline would not help right away if at all imo.

What's it like in your pretend world?

fnunderful - Moke ftmfw! glorious hair and a wizard that can see the future!

This is obviously a very wise and learned man of the world who gets it.

ttt Phone Post

Lets not forget were having an election. I'm pretty sure that has nothing to do with it. Also now that the republicans have taken over congress expect them to put a stop to cheap gas so that their contributors to their campaign can recoup some of their losses. Wait and see, funny thing is you would fully expect the turmoil in the Middle East would raise gas prices . Phone Post 3.0

Moke - 
Toki Wartooth - 
Moke - 
SalaciousCrumb - The irony is, shale production isn't profitable if oil gets below $65 or so, and they will dramatically cut back. Phone Post 3.0

Yeah but the point is that the price will have to hover just below where it's profitable for shale. In other words, cheap. The American consumer WINS.

...and the less money you're throwing at other countries the better as well. It's an endless supply of win.

Sort of. What's really happened (which is manifesting itself in shale oil) is that technology has unlocked resources we previously couldn't access. This is just the first of what will be a series of EOR (Enhanced Oil Recovery) schemes over our's and our children's lifetimes.

The doomsayers who were predicting the collapse of the oil market fail to understand that we only produce 10% to 15% of the total reserve and that the rest stays in place. When the need becomes great again we'll see another shift and more technology will allow for greater production which will shift the price.

I think (and this is really just a slightly educated guess) that the reason the Saudi's didn't act sooner was that they underestimated the resevoir volumes that shale would bring on. I think they also underestimated how quickly the U.S. would ramp up production on these reserves.

I agree with the keystone setiment. Failure to move on this will see Canada look at the other two major lines (either to the east or the west) and make the keystone a less attractive option.

I don't disagree at all. I didn't want to get too complicated in the opening post. But yes, despite obama slashing drilling permits and restricting ever more land from speculation, our technology has surpassed him. We are cranking our output DESPITE him. Thank God for American ingenuity.

U S and A!

I think you meant...

Can-Nah-Dah!

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Just sayin'

Well you Canucks have been patiently working your oil-sand technology for a LONG time now, And fuck yeah, Canada! But I was referring to fracking (which goes back to Pennsylvania in the 1860's) and its recent advancements.

We are partners and should RUN THIS SHIT.

Thankyou fracing Phone Post 3.0

Funny how the price of oil/barrel is dropping below the cost to produce for Russia (Ukraine) and Iran (sanctions and refusal to join majority's fight against ISIS) Phone Post 3.0

Moke - Well you Canucks have been patiently working your oil-sand technology for a LONG time now, And fuck yeah, Canada! But I was referring to fracking (which goes back to Pennsylvania in the 1860's) and its recent advancements.

We are partners and should RUN THIS SHIT.

If you're talking about the Marcellus then you need to thank us as well...

;-)

VinnyTheChin - Funny how the price of oil/barrel is dropping below the cost to produce for Russia (Ukraine) and Iran (sanctions and refusal to join majority's fight against ISIS) Phone Post 3.0

From 1985 thru 2005 oil hovered between 20 to 40 dollars a barrel. So no. This crazy $140/barrel and even the drop to $76 Dollars is the anomaly. We do shit right and eventually we could have $50-$70/barrels as the new norm.

Moke - That pipeline either drops off oil literally in our back yard, or it goes to the west coast to ship to China.

Canada did all the work of processing it out of their oil sands and wants to deliver beautiful cheap crude to our doorstep and obama has been fighting it tooth and nail.

"Stop trying to give us your safe convenient oil Canada! Cut that shit out!"

-obama

 

One of the many reasons I can't stand that fucker.  He's just appeasing his environmentalist base.  But the carbon footprint is the same whether they sell it to us or China.  And it would be a huge boon to industry all along the gulf coast.

jzspanky here argued that even though the administrations own paid research found that the environmental impact of the pipeline was negligible, he said ANY impact is unacceptable.  Yet he admitted to owning a gasoline operated vehicle for transportation.  What a hippocrite.