Why Are Gas Prices So Low?

budlover13

King Tut
Most fracking is still profitable at 40 a barrel
But then again. It's a win win win situation.
If you shut down fracking here. The oil will still be there when the price goes up or the overseas oil runs out
I just read in the recent Time magazine that some fracking is only profitable above $70 a barrel and the
majority is only profitable above $55.
 

NoDrama

Well-Known Member
I just read in the recent Time magazine that some fracking is only profitable above $70 a barrel and the
majority is only profitable above $55.
There are no wells that are profitable for any oil company at $42.
At $42 the well might be making more money than it costs, but that certainly doesn't mean the company who owns the well is making a profit. Cheesy has absolutely no understanding of finance and how these companies are literally burning cash to stay afloat.
in other news related to oil.....Chevron
http://www.zerohedge.com/news/2015-01-30/chevron-slashes-23-pa-workforce-us-rig-count-collapses-june-2010-lows

You know you are making wads of cash when you have to fire 23% of your work force.
 

schuylaar

Well-Known Member
There is an excess of oil on the global market and OPEC refuses to cut production to maintain a stable price.

The speculation that I have read is that they are doing this to drive oil prices below $60 a barrel and keep them there long enough to shut down shale oil fracking production in North America because it's only profitable at prices above $55 a barrel.

Again, speculation.
anyone remember this shit?..odd/even plate days? we seriously don't know how good we have it in the milenium:lol:

 

tokingtiger

Well-Known Member
nobody has heard of Illuminati? they have a plan all set, they released plans for what countries to take over also. bush and Obama has done very well in putting the World Bankers in control of those countries central banks. The first thing they did in Libya was take over its central bank, same with the Ukraine.. oh and they steal all the gold in the countries also. The Bilderberg Group is a meeting that discusses what they plan for the immediate future. https://jhaines6.wordpress.com/2014/11/01/leaked-bilderberg-closing-remarks-2014-must-read/

to stay on topic of poster. They took tons of money out of oil speculation, this dropped the price of oil. it really is that simple, why? Russia and China are starting a new World Bank, new currency too. Russia makes its money from oil. The rubble dropped 50% when the oil prices dropped 50%. The last step for the NWO is nuclear war. This is why they have been busting out America. They took all their businesses to other countries, their money also, they refuse to spend any money on infrastructure because they plan nuclear bombs to hit America very soon. I sure hope some of you start to wake up? (the first 3 bombs to hit America will actually be from U.S.)
 
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schuylaar

Well-Known Member
nobody has heard of Illuminati? they have a plan all set, they released plans for what countries to take over also. bush and Obama has done very well in putting the World Bankers in control of those countries central banks. The first thing they did in Libya was take over its central bank, same with the Ukraine.. oh and they steal all the gold in the countries also. The Bilderberg Group is a meeting that discusses what they plan for the immediate future. https://jhaines6.wordpress.com/2014/11/01/leaked-bilderberg-closing-remarks-2014-must-read/
isn't W (dubya) a member of illuminati?:lol:
 

sheskunk

Well-Known Member
nobody has heard of Illuminati? they have a plan all set, they released plans for what countries to take over also. bush and Obama has done very well in putting the World Bankers in control of those countries central banks. The first thing they did in Libya was take over its central bank, same with the Ukraine.. oh and they steal all the gold in the countries also. The Bilderberg Group is a meeting that discusses what they plan for the immediate future. https://jhaines6.wordpress.com/2014/11/01/leaked-bilderberg-closing-remarks-2014-must-read/

Chemtrails!
 
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