Posted on 11/02/2014 1:03:00 PM PST by Jack Hydrazine
$75 dollars a barrel – that’s the price crude oil would have to hit for frackers in North Dakota’s Bakken fields to feel pressure to slow new production, according to Greg Zuckerman, author of “The Frackers” and a special reporter at the Wall Street Journal. “All these guys have hedged. They’ve got production [and] they’ve already got the acreage. They’re not gonna stop but maybe they’ll kind of slow new stuff.”
Fracking in other parts of the country, though, is likely to be much more resilient. In Texas’s Eagle Ford and Permian basin, Zuckerman says oil prices would have to drop as low as $60 a barrel for production to be impacted.
Which is to say – don’t think the free fall in oil prices this year will jeopardize the fracking revolution.
(Excerpt) Read more at finance.yahoo.com ...
Crude and natural gas prices.
http://www.bloomberg.com/energy/
Silver and gold prices (continue to drop, too).
http://silverprice.org/
Keep on fracking. The oil prices will be going back up Wednesday.
What about the value of the dollar in relation to the price of oil dropping and commodity prices ?
OPEC is quite nervous. Russia does not have a large fortune to attack Ukraine. We have the largest supply of energy in the world but the most restrictive idiots in charge. Once we get public land open to harvest of gas and oil prices will be low but this country will export massive amounts of energy and bring in the money.
Who knew?
You have to look at the purchasing power of gold and silver not the amount they are valued in fiat dollars. For instance, in 1960 you could buy a gallon of gas for 25 cents. Today that 90% silver quarter is worth $3.00.
Why does the day after the elections affect elections? What I have noticed is that prices most of the time fall over the course of Fall and start back up around mid-December.
Drill baby drill! Frack baby frack! Destroy DemonRATs! Crush islam! Go FR go! Let freedom ring! Woo hoo!
Not in Arizona. In northern Arizona, they are still high right now. $3.25 where I live. They always go up just before I go to Phoenix to the races. Might be an Arizona thing.
NYS....Cuomo will take the fracking moratorium off as soon as he figures out how to tax the hell out of it. Consumers will never save a dime!!
they've been dropping oil prices to help the democrats in the election
Fixed it, and yes I am that cynical...
I kinda wonder if the ragheads are trying to slow development, fracking, etc., here? Wouldn’t put it past them, they need us dependent on their product. Just like dem0crats need—ah, you know... ;)
You are right on. And not only have the goat humpers tried to slow the production but they have been funding the environmentalist attack organizations for years to kill our oil development.
A long spell of high prices brought out the frackers, now willing to make the investment to start up new wells. Once actually fracked, a well can now deliver oil and gas for a long time at modest additional expenditure. So the pump pain was not all in vain.
Less $ flowing out to buy petroleum means a higher dollar relative to other currencies; that puts downward pressure on oil prices, which could cramp the style of fracking-based production. Lower prices also boost the Euro, and cut the throat of Putin’s Kingdom of Corruptica.
Summer gas and Winter gas requirements brought to you by various levels of government.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.