Haven’t been through there in 5 years but the Permian seems to be doing well. God Speed to them. And to all petro producing regions. Somehow managing to produce a product and a profit in this sea of regulation and otherwise economic malaise.
God, I hope a lot of millionaires and well-fed middle class families result.
OBOZO could give a $H*T!!!!!
They’re busy, all right- a month or so ago, I was driving down the road from Van Horn to Marfa, and at one point I could see four active drilling rigs and a couple of workover rigs. Heck, now I’m seeing rigs set up right off the highway. When I was a roughneck 25 years ago, we had to drive miles and miles into the middle of ranches to go to work.
I guess you didn't notice that the price of oil went from $25 to $100 during the Bush years. Before that, there wasn't a lot of profit to be made in shale oil or Alberta Tar oil.
And it wasn't just $100 oil. In June 2008 oil spiked briefly from $100 to $150. That spike pricked the real estate bubble and rapidly deflated the economy. Oil fell to its lowest price in Dec 2008, but began its recovery by the time Obama entered office. So by spring 2011, oil had returned to $100.
I have a good memory of the oil boom/busts in the 50s-60s and 70s-80s. Maybe this is the boom that goes on forever.