OPEC Choice--Keep Production High!

sheskunk

sheskunk

Well-Known Member
I've been watching the price at the pump drop over the last few weeks. It got down to $3.03 yesterday. Today it was at $3.09.
 
Sand4x105

Sand4x105

Well-Known Member
Oh fer sure.... Damn Obama.... bringing us all the things we want... cheap oil... free health care... pussy on every corner... oh wait... the hoes have always been on every corner you say? Huh.... imagine that
 
N

NoDrama

Well-Known Member
Low priced oil only helps those who BUY oil. Like China for instance.
Low Priced oil would hurt the #1 producer of oil, which is the USA.
 
N

NoDrama

Well-Known Member
ChesusRice said:
bakken oil is 96% profitable at 42 dollars.
Meaning 96% of the producers still make money at 42 dollars a barrel.
Only 4% lose money at less than 80 bucks
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Hey Chesus, guess what Bakken oil sells for right now?
$49.69 a barrel.

Keep it real bruh

http://www.bloomberg.com/news/2014-12-03/sub-50-oil-surfaces-in-north-dakota-as-regional-discounts-swell.html
Come to find out, all those transportation costs with the worlds most explosive and volatile oil costs a bit more when you don't have a pipeline.
 
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NoDrama

Well-Known Member
ChesusRice said:
Xl pipeline already runs down to Illinois.

Can't sell oil to China from Illinois though
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Sorry bub, most Bakken oil is shipped by rail, not pipeline.
http://www.businessweek.com/articles/2013-06-13/amid-u-dot-s-dot-oil-boom-railroads-are-beating-pipelines-in-crude-transport

According to a June report by Bloomberg Industries, 71 percent of all Bakken crude now leaves the region by train, compared with 25 percent in January 2012. Only 20 percent travels by pipeline, down from 61 percent in 2011.
Click to expand...
FYI we don't sell any of our oil to China, or to anyone for that matter, that would be illegal.
 
ttystikk

ttystikk

Well-Known Member
OPEC knows it doesn't have market control like it once did. Cheap oil flowing from American wells will drive our economy, impoverish Putin and his allies and keep Venezuela and Nigeria off balance. If the cost of all this is a few wildcat speculators, I'd say someone in the cabinet decided it's a good trade.

It's also a complete accident, as no one saw the opportunity to use oil prices as a strategic tool to punish the Russians until it fell into our lap.
 
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NoDrama

Well-Known Member
ChesusRice said:
Buffoon
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Buffoon? Is that what you call yourself now?
Free Market? You didn't even read the link .

Rail costs more than pipeline. By far.
While moving crude by pipeline still costs about half to one-third what it does to move it by rail
Click to expand...
http://www.businessweek.com/articles/2013-06-13/amid-u-dot-s-dot-oil-boom-railroads-are-beating-pipelines-in-crude-transport

And since this is the same link as before, it proves you didn't even read it.
Basically, you are ignorant by choice.

Energy Policy and Conservation Act of 1975, dictating that US crude could no longer be exported.
You should look it up and see if it says that it will be nullified by a pipeline to the gulf states as you have stated it would be.
 
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NoDrama

Well-Known Member
ttystikk said:
OPEC knows it doesn't have market control like it once did. Cheap oil flowing from American wells will drive our economy, impoverish Putin and his allies and keep Venezuela and Nigeria off balance. If the cost of all this is a few wildcat speculators, I'd say someone in the cabinet decided it's a good trade.

It's also a complete accident, as no one saw the opportunity to use oil prices as a strategic tool to punish the Russians until it fell into our lap.
Click to expand...
Cheap oil is flowing from US sources?
It costs on average $85 to produce 1 barrel of tight oil and ship it to a refinery.
http://www.resilience.org/stories/2014-10-28/the-cost-of-cheap-oil


Most of that Bakken oil starts losing money at less than $65.
Currently Bakken oil sells for less than $50 a barrel.

Losing money does not make you wealthy.

Using cheap oil to punish Russia wasn't an accident, it was planned. http://www.zerohedge.com/news/2014-10-10/why-oil-plunging-other-part-secret-deal-between-us-and-saudi-arabia
 
C

ChesusRice

Well-Known Member
Oil Producers Form New Group to Lobby to Lift Crude Export Ban
By Jim Snyder and Brian WingfieldOct 24, 2014 10:36 AM CT
15 CommentsEmailPrintSpeed

Oil producers are forming a coalition dedicated to ending the four-decade U.S. ban on crude exports, signaling a more serious turn in their push to sell to overseas customers.
The Producers for American Crude Exports includes ConocoPhillips, along with at least 13 other companies, company spokesman Daren Beaudo said in a statement. Hess Corp. (HES), Marathon Oil Corp. (MRO), Continental Resources Inc. are also in the group, according to a disclosure statement filed to Congress.
 
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