Go Texas!
Then again, I do have a bias towards Texas, full disclosure....
What’s the best way to track inventories including tankers being used for storage.
How can this be? Haven’t the greenie idiots (aka: oil deniers) said that we were depleting oil soon? This must be all lies!!!
I am of the opinion that the new drilling technologies such as fracking and horizontal drilling have opened up so much additional oil that the global market will be “capped” price wise for a long time.
Remember that while the US is using a lot of this technology, it has not spread to a number of the other major oil producing nations .... yet.
Things are starting to look more bleak. I’ve been lucky and have kept my job but I’m afraid of what’s going to happen if oil stays in the 30’s for a couple more months.
One of the positives is how efficient we are getting. We are setting records with the number of stages we are getting fraced. We have probably seen a 50% increase per frac crew. Some of that is just that now companies have more equipment on hand so there is less down time, but a lot of it is better time management.
This will all help us produce at a lower cost if prices would just come up some.
Drove out to Lubbock this weekend and saw 3 work over rigs. At these prices, what are they doing? Are they pulling the pipe to prep for shut in?
ping to read later
We shouldn't have changed the law against exporting oil and we shouldn't ship a single quart or cubic foot out of the country unless and until the coal industry is back in full swing supplying coal to generate electricity. Even then, we should only ship what we produce beyond our own annual requirements.
But if you lose money on it ... it won’t fly.
Damn those DINOs must have occupied every square inch of the earth! It almost makes you believe that oil may actually be a bi-product of the earth that there is so much of it!
I know many have mentioned it but this sure exposes the absolute “you can’t drill your way to lower prices” LIE.
All they do is lie. Why can’t they just be honest?
Boom and bust in the way of life in the oil patch.
I forecast some great prices on small cars.
It fuel remains this cheap, everybody is going to buy SUVs and pickups.
The manufacturers have to sell a certain percentage of high fuel econ cars to meet govt mandates.
PEAK OIL, PEAK OIL, PEAK OIL!
since many of the jobs were linked to the boom, they were in a sense temporary.
bkmk
Well
I’d sit on it
Price is too cheap now to drill now
Hell I wouldn’t even scoop it up bubbling through Jed Clampett dirt
Price of gas right now around here is around 1.40-1.60/gal which would be 24 cents a gallon in 1971 when I first drive with a permit in an old Cutlass
Vinyl top mind you
Today’s gas prices adjusted for inflation is half what it was in 1971
But the cost of drilling and shipping and processing is not cheaper
Got to be squeezing petro companies
But folks bitch when they get windfalls
It’s no secret the US is a black-gold mine of resources, but the political elites won’t have it.