Posted on 11/23/2018 5:37:13 PM PST by DUMBGRUNT
The Liberals don’t care about what is right.
They want control over your life.
darn that Trump! With Obama we could’ve had #4.00 gal gas and crippling unemployment. All those NWO dreams will be put on hold.
I see $1.95 frequently now here north Texas.
But... but... but... PEAK OIL!
Seattle is $3.40 or something. At least the voters didn’t pass the carbon tax proposal that would have raised the taxes even more.
We need more refineries like the one they tried to build in Mobile.
The future might bring more and more natural gas; we might never run out.
“Weaker global growth” let me see...with oil prices low it is cheaper to use any item or material that is in anyway interconnected to oil and this would free up cash that if prices were high would not be available ...? What a crock of shit ....I swear the writing and economic forecasting in most rags is blatant idiocy ....probably went to the colleges that produced the “scientists” who want to seed our atmosphere to cause Sun cooling effect. I am SO glad I spurned college in exchange for self-employment and a lot of time at the beach after high school and before entering the Army.
That’s possible. Reportedly, there’s methane on planets with no life on them. But if so, how quickly or slowly does it perk up?
Wow - here on the MS Gulf Coast, I’ve seen it as low as $2.21 and Premium is under $2.75 (one of the curse of a small turbo-charged motor is the gas you need to use - could probably get away with mid-grade but don’t want to do harm to my “mill”).
“”In regards to liquid natural gas exports, our future generations will need all of the natural gas and other energy products that we could keep and more.””
While I don’t disagree with that statement at this point and time we have two choices, export or flare it. If you want the oil you have to get your gas off of it, this helps push the oil through the formation. The infrastructure for all these new completions is not on line yet so flaring is the only option in some cases. Another side of this especially in the Permian Basin is we’re suffering from over production due to storage space. We’ve maxed out out pipelines and refinery’s and many producers are having to pay a storage fee to hold oil until it can be put into the lines, that fee can run up to 15 dollars a barrel before it finally hits the lines. We are in desperate need of more inland refineries and the pipelines needed to tie it all together. Much of the gas we’re running in our vehicles here in West Texas is actually pumped from West Texas down to the Gulf Coast, refined and then pumped back to various hubs. Regional refineries would eliminate all that unnecessary cost and travel. My oil leaves the ranch here in the Basin and goes to Artesia New Mexico where it’s refined and then sent back this way. We have a local refinery but it’s maxed out and not accepting any new contracts.
In Dacula, GA, gas was 2.01 this morning.
Imagine what the cost would be if we didn’t have to pay to support the Corn producers to make ethanol?
We’ve maxed out out pipelines and refinery’s and many producers are having to pay a storage fee to hold oil until it can be put into the lines, that fee can run up to 15 dollars a barrel before it finally hits the lines.
Very interesting.
Adding, I have read, stopping the flow from an active well is a bad idea.
Thank you for the inside information.
It’s never good to shut a well in, too many things can go south down-hole.
Even here in the basin we’re facing that problem. More and more drilling is horizontal with huge multi stage fracing and that takes allot of time and equipment, fracing cost exceed drilling costs anymore. with few companies capable of providing the equipment and expertise for these frack jobs waiting time can be long.
The growth in oil production is bigger than the Saudi growth from 1969-1975. The consequences are just as big.
The US grew oil production from 9 million barrels a day to over 11 million barrels @ day in about 18 months.
Judging by the backlog—It looks like the US is on track to grow oil production by another 2 million barrels @ day in the next 18 months.
I’m not sure this will happen because falling oil prices will put a damper on production. However, they will also be an enormous economic stimulus.
The fed can’t raise interest rates when oil prices are falling either.
So while oil production increases may slow down for the next year—falling oil prices will cause a surge in worldwide economic growth—which will in turn spur more demand for oil.
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