oil leaders: opec threatening u.s. economy and new mexico’s lifeblood; nation has lost 400,000

Roswell Daily Record ^ | 10/8/16 | Levi Hill

[Jack Hammer]

oabama’s good pals, the Saudis, doing their level best to f*** us.

[AZLiberty]

Thanks to the Saudis flooding the market, U.S. innovators have had to figure out how to compete with them. Using the most advanced fracking technology, one major U.S. oil producer claims to be able to produce oil for $2.50 a barrel. In addition, fracked oil — because it is filtered through fine-grained shale — is remarkably clean, making it very easy to refine.

These days the energy consumer is making out like a bandit. (Or they would if the feral government would get out of the way.)

[okie01]

You’d need a concerted effort with an American “OPEC” of oil companies, Harvard/Yale/MIT etc, with the blessings of the fedgov or some such.

Let's leave the fedgov out of it, if you don't mind.

And I'd be more comfortable with a plan from Auburn/NoDak/Okie State...

[Ethan Clive Osgoode]

All the more reason to attack them militarily.

[Laser_Ray]

Hey oil companies: if we killed the Muslims and took their oil, you could all be rich beyond your wildest dreams and sleep safer. But to do that we’ll need some forcible change in leadership...how ‘bout it?

[wastoute]

Even worse, no one knows where it is going. Billy Sol Estes?

[trebb]

Another reason to drill more and use our own oil first.....I wonder what the “agreements” are about how much we need to accept when they try to glut the market - which hurts our own producers.

[Undecided 2012]

I say set the floor price at $80. Any imports are taxed up to that amount and royalty checks go to each American.
That would flood the rest of the world with ultra cheap oil and cripple the Saudis, Iran and the Russians.
Then as time goes by we lower the floor price accordingly afterwards.
And tell the Saudis pay back is a beech.

[crusty old prospector]

Uh, 100% of our revenues comes from production. Only the majors have refining and transportation. And they do very little drilling in the United States.

[bert]

I just returned from a trip across several oil producing states.

It was quite apparent that the walking beam pumps on many small wells were not working. The larger pumps were at work. The smaller wells are apparently not able tp economically produce

[crusty old prospector]

And what about the old widow who receives a check for $1,000 every month for the well out in her pasture? What about the school district that derives a significant portion of income from taxes? Although I agree that we should burn as much of the Mooselimb crude as possible, there are too many people’s whose livelihood depends on those horse head pumps going up and down.

[crusty old prospector]

They are on timers. They only pump at a level at which the well can produce. But many wells eventually just deplete.

[bert]

Thanks for that

[econjack]

I don’t think anyone would try to halt stripper well production. It’s the same type of argument we got from the United Steelworkers back in the 60’s-70’s. They said Japan was selling steel below cost. So, what’s it going to be. Income protection for 15,000 union workers, or lower prices on everything that uses steel for 200 million consumers? The problem there was our steel plants were still using production facilities that were built in the 1890’s, while Japan’s factories were bombed into the Stone Age in WWII and were replaced with the latest technology. Japan, which had to import virtually every resource that is used to make steel, could still beat us on price. The emotional argument used by the USW was actually bolstered by management because they didn’t want to face the capital expenditures it would take to become competitive. The result: the steel workers got tariff and quota protection and you and I as consumers subsidized them through prices that were higher than they should have been.