Diablo3585
Member
the war will never be over. we're never leaving the middle east. US history says so.
Afghan War declared over
- Thread starter ChesusRice
- Start date
ChesusRice
Well-Known Member
Never say never
Imported Oil is becoming less important for us
hellmutt bones
Well-Known Member
Bet u my koshur sub that it starts up again next week!
budlover13
King Tut
Except that imported oil is cheaper than the fracked oil we are currently producing.
OPEC is bankrupting current US oil production.
ChesusRice
Well-Known Member
The oil is still going to be profitable at 40 a barrel.
And it will be there when the prices go back up
THCbreeder
Well-Known Member
By the U.S digging for it's own oil OPEC is scared . It's literally dragged down the price to make it not worth fracking for. Basically said fuck you to all the companies over here Do I love that it cost me 36$ to fill up ? Helllll yea . But rest assure it'll go up again !
ChesusRice
Well-Known Member
Most of the companies fracking will still make a profit at 40 a barrel
THCbreeder
Well-Known Member
I wouldn't doubt it .
heckler73
Well-Known Member
Don't be too quick to forecast such a rosy scenario when Saudis are still making a profit at $10/bbl (avg cost $5-6/bbl), and have $900Bn in Reserves.
They'll play the game longer than frackers or asphalt-juice pits can remain solvent, even if it means going down to $20, just as they implied.
http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
Those top 5 countries which the US relies on are going to change unless there are binding contracts.
I don't believe you are contemplating the larger picture here. After all, there was "no way" the market would drop below $50/bbl. What's the response going to be at $20? At what point will the small 'entrepreneur' ops shut down? I know Alberta is starting to shit bricks...
Harrekin
Well-Known Member
Chesus is one of the most wilfully ignorant people I've ever met, he just repeats quotes he reads without ever even vaguely understanding any of the underlying fundamentals.
Don't be too quick to forecast such a rosy scenario when Saudis are still making a profit at $10/bbl (avg cost $5-6/bbl), and have $900Bn in Reserves.
They'll play the game longer than frackers or asphalt-juice pits can remain solvent, even if it means going down to $20, just as they implied.
http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
Those top 5 countries which the US relies on are going to change unless there are binding contracts.
I don't believe you are contemplating the larger picture here. After all, there was "no way" the market would drop below $50/bbl. What's the response going to be at $20? At what point will the small 'entrepreneur' ops shut down? I know Alberta is starting to shit bricks...
ChesusRice
Well-Known Member
Don't be too quick to forecast such a rosy scenario when Saudis are still making a profit at $10/bbl (avg cost $5-6/bbl), and have $900Bn in Reserves.
They'll play the game longer than frackers or asphalt-juice pits can remain solvent, even if it means going down to $20, just as they implied.
http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
Those top 5 countries which the US relies on are going to change unless there are binding contracts.
I don't believe you are contemplating the larger picture here. After all, there was "no way" the market would drop below $50/bbl. What's the response going to be at $20? At what point will the small 'entrepreneur' ops shut down? I know Alberta is starting to shit bricks...
THen we shut down production and buy at 10 bucks a barrel. WHen they tap out their oil we still have our reserves
ginwilly
Well-Known Member
We shut down production, become 100% reliant to OPEC then oil hits 200 a barrel while we hurry to re-open production and have our economy devastated for a year. Meanwhile, while getting our production back up we are back in the middle east doing our "not a war" thing we do.
It's going to be interesting what happens. I wish I had been shorting oil this whole time but even now I'm too skeered. It has to stop somewhere and I'm not willing to try and predict. Is 10 a barrel even possible?
ChesusRice
Well-Known Member
Really?
What's the negative of the Saudi selling is oil at 10 a barrel?
Harrekin
Well-Known Member
overgrowem
Well-Known Member
Cracks are appearing; Pinoleville Pomo Indian Nation, building 10 mil.indoor grow facil. in Cali. Get one outside Cali and I would venture to say the rush is on for the tribes.
overgrowem
Well-Known Member
One co. talking to 100's of tribes, another talking to a couple of dozen. A gold rush that may work for Indians instead of ruination.
overgrowem
Well-Known Member
After failed attempt to get casino ok, impoverished Menominee tribe to fast track efforts to grow weed in Kenosha Wisc..