Posted on 11/27/2014 3:06:00 PM PST by TigerLikesRooster
I have been buying both hand over fist and if 93 octane goes under $3.00 I may have to consider buying a 2015 Dodge Challenger Hellcat.
Money is fungible and investors chase yield. If there’s a profit in it, Americans will do it.
Let’s not also forget the incredible innovation America’s free market economy is capable of producing. As new technologies come online, so will new wells.
it is good to have oil prices lowered, but the US Government must break the cartel by giving them zero interest loans to fight the cartel till the price recovers.
Now is the time to break their backs
Don’t repeat the mistakes of the past.
And the more risk, the more yield that investors will require. Beyond a certain amount of risk, only insane investors will get involved (e.g., during a national debt repudiation process with haircuts).
You’re a sane voice amongst a lot of the usual useless blather.
The Saudis don’t really give a crap about US production, there’s little they can do about it, anyway. They’re much more interested in squeezing the Iranians and the Russians at the moment. If Venezuela also gets squeezed a little, that’s OK, too.
LOL. Good one.
Heh. Got me. Okay, I was comparing apples and oranges while dragging in something only tenuously relevant to the discussion. But with the monstrous pile of government debt building up, the temptation was irresistible. We should all be getting ready.
My personal hope is that we’ll increase production of all kinds, but also that more of the production will be much more decentralized, distributed and generally secure in the future. For no personal remuneration so far, I’m doing a tiny part with my own mind and hands to help with that (experiments and data reporting from over 9,000 feet for individual and family level energy, tools and agriculture).
You mean the Somalians in Lewiston that Baldacci brought here?
Fascinating. I am thinking that we’ll see some breakthrough in atomic energy with town/village/city-size reactors buried for decades and recharged then.
I do lower tech stuff, but small nuclear power plants would be great! Those would free us up to focus more on agriculture, equipment and transportation. With more competition in battery production in conjunction with the new power source, we could even narrow that down to two general efforts: agricultural and equipment (equipment built and developed with free and open source designs...had to happen sooner or later).
Ah, make that three with the efforts for building construction. I’m helping a little toward developing strategies against regulatory problems (mechanical codes).
“Float like a butterfly and sting like a bee” (Cassius Clay). Their “hands can’t hit what” their “eyes can’t see.”
I have been in the oil industry for about 35 years, and about snorted coffee on my keyboard. It took me awhile, but what the dufous isn't sharing is this data (2010-2014):
Oil production as percentage of GDP
Saudi Arabia- 45.8%
Russian Federation- 13.9%
United States- 0.9%
Equilibrium is the power controlling oil prices. The U.S. can put them in check with shale, and they can no longer gouge.
Ding Ding Ding Bingo Dingo Ringo we have a winner !
That’s a good question, how did those oil shale fracking companies survive back in 2009 - 2010 when oil was cheaper then.
Yes, I am aware there was less of it until oil prices sky rocked, did they know oil would go that high eventually ?
I am praying, hoping, and banking on of hopes that there will be a “ eureka “ moment that would be a real game changer soon in the efficiency of drilling, extraction and production of shale where that will grow the shale industry even more.
I hope none of these companies will not go bankrupt or people lose their jobs and a game changer would really freak OPEC out and put a dagger in the heart of OPEC and Russia.
Think about all the argreculture waste in millions of tons each year and the costs to get rid of corn plant wastes.
Now imagion that waste can be turned into bio fuel as in pellets to burn in a pellet stove.
Even walnut shells, peanut shells can be burn in a gasifier that can run a internal combustion engine.
During WWII most of your Scandinavia countries ran their cars, trucks, buses off of wood gas from a process called gassification, yes it’s true, a car can be run off of wood.
Saudi ARabia's budget is based on oil price of about $80/barrel, but they can take pain for a few months if they get to kill the US shale revolution
The UAE and Kuwait and Oman are even lower -- around $40 to $50/barrel
Venezuala is in deep doo-doo as their budget is based on oil at $140/barrel as is IRan
SAudi is using this to kill the US shale gas (enemy number one) and hurt Iran
The US should use more wind, solar, hydro and nuclear power. More efficient vehicles and ban imports of oil from the Middle East. Pump oil from Alaska, Shale etc. all US or at the best North America. No more oil from the Saudis
I’m all for energy independence from nations or groups who wish the US ill. I’d slap a tariff on imported oil if I thought it would prevent decimation of domestic oil production, myself. Dumping by any other name is still just that.
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