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Posted on 12/11/2014 5:44:09 AM PST by blam
How are the other commodities like gold and silver?
and there goes russia
But will our domestic production also go with it?
Now the question appears to be WHEN not IF WTI oil drops below $60. At 09:00 it is only 18 cents above so I’d say that it drops below by Noon EST.
Now the question is how low can the momentum drop before resistance or stoppage? (If I knew I’d tell you and then kill you!)
not entirely, too easy to cap them and restart them.
They could shut our oil production down at 30-45, but it would just start back up at 50.
basically, we have just created a new ceiling for oil prices.
A few weeks ago here, there was a story about fracked wells vs traditional wells.
A traditional well is actually damaged, if you quit pumping from it...meaning that when you resume pumping after prices rise, the total output of the well will have been reduced, because the pores in the rock will have been ‘clogged’ with static oil. This makes it enormously risky to drill new wells in this environment.
But according to the story, fracked wells are different. The sand keeps wide spaces open for the oil to flow, and shutting down the well temporarily does not damage the well’s ultimate output.
Its a small wrinkle, but it may be enough to avoid a complete collapse in the industry.
Is this dramatic drop driven by the Saudis in an attempt to curtail/destroy our nascent fracking industry?
My friend thinks this is the case, but he also belives in grey shape-shifting aliens that walk among us, so I am dubious.
You don’t believe in grey shape-shifting aliens that walk among us? Dude....
Thackney (the FR petroleum expert) believes that the Saudis may be the good guys here.
The Saudis may be trying to defund the ISIS war effort with cheap oil. They know that fracking will not suffer any long term effects.
ISIS and the Saudis are competing for the same thing, to control the worldwide Caliphate.
Of course. Every Muslim is.
ISIS is quite a bit more aggressive about it.
I forget: is it the green ones that are the good ones, or are they still oppressed by the larger grey ones?
Hey Putin,
I have a bottle of Advil for ya pal.
Yup. The Saudis have spent $trillions undermining the USA and Christians everywhere, in every country on earth.
Can conventional wells that get shut down and stop producing be “fracked” to get going again ?
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