More pipelines would help reduce transportation costs improving wellhead prices.
It’s called a cycle. It’s a new-fangled thing.
We all better start using more oil.
Yawn. I say drop oil to $40-50 a barrel. The oil industry can do some leaning to compete while the rest of the American economy can recover from excessively high prices of the past few years.
Of course...cheap and plentiful energy has always been the downfall of nations, not socialist slime driving our culture into the ground.
For one thing, oil below $75 has been the norm even after adjusting for inflation. Another thing is that since there are more oil users than oil producers in the U.S., a return below $75 should be good for everyone. Of course, it'll be even better with Washington ending its war on business.
DEFLATE! DEFLATE!
Every billion dollars not going to Saudi Arabia and Venezuela is another billion injected into the US economy.
Total bullshit. Similar to global warming.
Maybe that’s why this...
OPEC Boosts Oil Output as Prices Slide to Four-Year Low
http://www.bloomberg.com/news/2014-10-30/opec-boosts-oil-output-as-prices-slide-to-four-year-low.html
(no content posted with Bloomberg title and link due to FR policy)
It’s an Asian tactic. Recede, then push back.
This sounds like nonsense to me.
A decline to $75 would help the economy more than it would hurt.
Besides if shale production growth slows, then the price in WTI will go back up, and when the price goes back, then US shale production will grow again. And so on and so forth.
Plus stopping air traffic from Ebola epidemic countries will make things worse. And Zero Hedge is not a Russian propaganda front.
that is problem I like - bring the cost down and put America back to work - bring industrial plants back on line. Cheap power is the answer.
I can believe this as I was in Williston ND for the last oil boom that ended in 1985/86 once the cost of oil exceeded the cost of production we started capping wells and shutting down, the whole Town of Williston pretty much turned into a ghost town overnight and local housing prices fell by over 60% . This time it will be much worse as most of North Dakotas economy is based on Oil and you would see such a huge impact I think it would ripple all across the country.
Ah, more “Tyler Durden” horse crap from the “Zero Credibility” website.
I’m curious: have they ever gotten anything right?
Anything at all?
Tariff every barrel of imported oil at $25/bbl AND eliminate all taxes a fees levied on US produced crude.
Goldbug ping.
