Posted on 04/09/2025 5:43:24 PM PDT by Macho MAGA Man
Paul Sperry @paulsperry_
DEVELOPING: Sources say Oil Patch executives have stormed the Hill to warn GOP leaders the tariff regime is tanking oil prices to a point which will undermine Trump's "Drill, baby drill!" and turn the Texas boom into bust. Crude has already plunged $15 with no bottom in sight ...
10:52 AM · Apr 9, 2025
(Excerpt) Read more at x.com ...
So I guess “drill baby, drill” it to get the price of oil down .. but still kinda high. Question: why is it that other nations can economically extract oil at $50 a barrel (as they must be able to do for this to be possible) yet we cannot?
Drilling and fracing a 10,000’ multi-stage lateral will run you between $6 and 10 million. That only works in most plays with $70/barrel oil or higher.
“Stormed the hill”? I am sure they are expressing their opinions but ... man such hyperbole.
When I read that Opec was hiking production then I knew what they were up too. I commented about it at the time too.
https://freerepublic.com/focus/news/4308594/posts?page=14#14
If one is a cynic then these things are easy to see.
Oh no! Cheap oil!
$26 oil is just fine by me.
Who are the ones who are angry because we will pay less for a gallon of fuel?
Unfortunately, its prime to bomb Iran at these prices, however just look at how sticky prices at the pump are.
No, there won’t. But the spoiled Arabs won’t leave it there long, either. I worked in the patch as a self employed contractor for 35 years. I’ve seen oil go up and down too many times to count. A couple of times, it took out some pretty big players...
Perhaps these oil execs would like Biden back so their entire industry can be outlawed by 2035.
I hear you. Oil has been a roller coaster since forever.
We are currently turning to the right on two laterals from the same pad. They were modeled with a well cost of $7 million and $70/barrel oil. At $50/barrel, they are only marginally economic and we won’t be drilling any more at that price. Drill baby, drill is just a slogan for morons who always think that the price of gasoline is too high. They want money leftover from their fillups for lottery tickets.
$60 is the basement price to drill anything.
Operators prioritize domestic purchases, Longanecker said, but also rely on international products. At least half of critical equipment, including casing that protects drilling equipment, is sourced internationally. Steel, both domestic and international, can take up to 10% of a company’s expenses. Up to 70% of the less critical materials used to drill, such as casing string on the surface, come from South Korea. He said U.S. steelmaking is often reserved for more critical profitable equipment.
https://www.texastribune.org/2025/04/09/west-texas-permian-basin-oil-price-donald-trump-tariff/
Sources?
What sources?
What did they “storm” with?
Artillery?
Chuckle.
Its too low to make money pumping domestically.
Simple. Just punching a hold in the ground (Saudi Arabia) is way cheaper than fracking.
Some of the idiots here still think $10 a barrel oil is feasible and what we should be shooting for.
Blah,Blah,Blah.
The usual suspects.
🇺🇸👍
Or drilling. The production costs will be to high and the domestic oil and rigs will have to be stacked.
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