...you mean I shouldn’t dump my COP and XOM and HAL?
(not planning to anyway)
I read recently that we are exporting oil for the first time in 40 years, and it occurs to me ...
With tumbling gas at the pump prices, major production and now export revenues ...
will the pump price stay in the lower zone ?
Hann had one of the world’s most expensive divorces
Why bail out the Saudis, Russians, and Iranians?
Me, I’d rather have more affordable gasoline.
$60 a barrel. Sure, one day it will come back to that.
US double production. Never. That would mean energy independence.
We just have to build enough solar and wind farms and breed more unicorns for that to happen.
Great analysis by Hamm. However, as a producer he only looked at one side of the equation: supply. What about demand? The economies of China and India are slowing down.
Japan has been in the doldrums for 20 years or so. Europe is not exactly booming and the price of oil substitutes such as natural gas show no signs of increasing. We may see oil priced at $33.00 to $40.00 a barrel for a while.
Without a massive and worldwide economic boom I would expect the price of oil to eventually rise toward the break-even point for large scale frack production which right now is said to be at about $60 and pass it by a small percentage. That BE is declining steadily, though, as technology improves and the price of oil probably will not see the stratosphere short of that massive economic boom or heavy political intervention. As the US government forces America to convert to so called alternative power generation the price of oil will tend to decline even as the price of consumed energy steadily increases which will increasingly shackle the American economy. I do not believe there will be any relief in the next administration. The Democrat/Soros control of the voting process and the vote count is probably insurmountable in part because the Republican Party will not challenge vote fraud, no matter how open. The Party, in a judicial deal agreed to never challenge Democrat voter fraud.
I don’t get the worry over the low price of oil. Cheap energy is good thing in nearly every aspect of the economy.
With modern technology there is NO valid reason for oil to be at prices we are used to seeing. We are just used to seeing artificially propped up prices on a commodity that should be dirt cheap. Those that are complaining have literally been on a gravy train and will need to join the real world and figure out a way to make money with oil priced like something pumped out of the ground and not like it’s crack cocaine.
Everyone else has been wrong about the recovery in oil, why shouldn’t Hamm join them?
Harold Hamm and Kevin Bacon drive the Arab oil producing countries crazy.