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Thread: Oil prices

  1. Default Re: Oil prices

    Quote Originally Posted by Rover View Post
    First, I thought we now are net exporters, not importers. Why not save the fuel in our ground and use their cheap oil? We can ramp up production pretty quickly if we need to. Secondly, the O&G industry isn't going to end. There may be new players, probably some who are willing to play by a new set of rules about governance and pay, etc.
    You can't ramp up production quickly if the industry nearly disappears, which is on the table right now. If they industry shrinks down massively, so does the work force and equipment needed to ramp up production.

  2. #2102

    Default Re: Oil prices

    In this tweet, Ted Cruz accurately explains the problem with cheap gasoline, it just sets the stage for a return to $4 gasoline .......... but I really don't think this group of 12 Senators has much leverage. Cruz talks tough, but its more for his constituents than any real hope of getting something done ....

    https://twitter.com/JavierBlas/statu...713668097?s=19

  3. Default Re: Oil prices

    Quote Originally Posted by Rover View Post
    So, this is why I don't understand the America First group not supporting application of reliable and sustainable non-oil energy sources. Never in history has the army that is outnumbered two to one ever won a war, and few battles. We go against countries who can produce for a fraction of a cost of our own production and have massive proven reserves and expect them to voluntarily curtail their output to help us. Then we are shocked when they serve their self interests first. Reminds me of the old Middle Eastern tale of the frog and the scorpion...."you knew what I was when you got on". Seems like we would want a REAL strategy, not one based on political clout of the entrenched.
    I think most people do support the application of reliable sustainable non-oil energy sources...but there's a reason they haven't caught on in mass yet... When they become more efficient and are cheaper than oil and gas, the transition will happen naturally. Frankly anyone that really supports renewables should be cheering for higher oil and gas prices as it increases the financial incentive to develop and adopt new technology.

  4. Default Re: Oil prices

    Quote Originally Posted by Rover View Post
    It's amazing to me that people who claim to be pure capitalists and free trade advocates can so easily flip to protectionists when their favored industry isn't faring well. I guess dogma goes out the window when the bank account gets low. LOL.
    Did monopolies allow for a truly free market in any field before the Sherman Anti-Trust act went into effect? No...which was why Standard Oil and other monopolies were split up. The US legislated the destruction of those monopolies to allow for a free market to exist. Do you think it would be fair for all US producers to collude with each other and curtail production to raise the price? If you think the oil market is free with OPEC+ in the mix... read The Prize.

  5. #2105

    Default Re: Oil prices

    Quote Originally Posted by PhiAlpha View Post
    This is my argument for it. This is not a completely free market, it's the US vs. a cartel. The tariffs would be aimed at leveling the playing field between US producers who play by the rules of the free market and a cartel that actively engages in price fixing and collusion. I still am not sure I'm 100% for tariffs but given that we are already at an unfair disadvantage, I at least understand and can support the argument for leveling the playing field.
    Well, US domestic producers need to curtail production instead of increasing production. Problem with that, its like herding cats.

    I can understand how KSA is weary of losing market share to US domestic.

    And yes, cheap fossil fuel prices for the consumer are the climate change alarmist's nightmare. Its the last thing they want to see. When the enviro left protests O&G infrastructure projects, they trying to limit oil or NG reaching the market, and they hope to put upward pressure on prices. .. i.e. Dakota Access protests.

  6. Default Re: Oil prices

    Quote Originally Posted by RedDollar View Post
    Well, US domestic producers need to curtail production instead of increasing production. Problem with that, its like herding cats.

    I can understand how KSA is weary of losing market share to US domestic.

    And yes, cheap fossil fuel prices for the consumer are the climate change alarmist's nightmare. Its the last thing they want to see. When the enviro left protests O&G infrastructure projects, they trying to limit oil or NG reaching the market, and they hope to put upward pressure on prices. .. i.e. Dakota Access protests.
    That was on it's way to happening before any of this started. Capital markets have nearly been shut off and companies were drilling relentlessly to service debt and keep the lights on but there would've been no way to continue on that path without capital. Bankruptcies and consolidation would've taken care of it on there own with prices below $45-$50 for a year or so.

  7. #2107
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    Default Re: Oil prices

    Quote Originally Posted by PhiAlpha View Post
    I think most people do support the application of reliable sustainable non-oil energy sources...but there's a reason they haven't caught on in mass yet... When they become more efficient and are cheaper than oil and gas, the transition will happen naturally. Frankly anyone that really supports renewables should be cheering for higher oil and gas prices as it increases the financial incentive to develop and adopt new technology.
    Or, what about the cost of risk from artificial supply manipulation? We should strive to be truly energy independent.

  8. #2108

    Default Re: Oil prices

    Quote Originally Posted by PhiAlpha View Post
    You can't ramp up production quickly if the industry nearly disappears, which is on the table right now. If they industry shrinks down massively, so does the work force and equipment needed to ramp up production.
    Some people would rather gas light and pretend they know things despite likely never had oil on their hands. so I’ll speak slow with small words so he can understand.

    You can’t drill a hole and yay oil!

    It’s very difficult that requires a ton of engineers and scientists, people who if they leave the industry won’t come back.

    The brain drain of American shale will set us back another 5-10 years before a recovery is even possible. In the mean time, super spikes in pricing will come.

  9. #2109
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    Default Re: Oil prices

    Quote Originally Posted by gopokes88 View Post
    Some people would rather gas light and pretend they know things despite likely never had oil on their hands. so I’ll speak slow with small words so he can understand.

    You can’t drill a hole and yay oil!

    It’s very difficult that requires a ton of engineers and scientists, people who if they leave the industry won’t come back.

    The brain drain of American shale will set us back another 5-10 years before a recovery is even possible. In the mean time, super spikes in pricing will come.
    Canít tell if you really believe your opinions are infallible or are just trying to convince others. Believe it or not, there are one or two people without a vested interest in oil companies who can understand the energy business, economics in general, history, and the politics of power. You may be shocked that some may even be as smart as you believe you are. Heaven forbid they challenge the notion that there is a future that relies less on fossil fuels and oil Companies.

    By the way, my family has had oil income for over 50 years, my dad retired from lifelong work for a major oil company, my ex father in law was head of R&D for a major oil company, I have invested in wells myself and I have many good friends in the business at various levels. So, as I guess you would say, I have oil on my hands, so I suppose that qualifies me to be smart. Lol. But, I also have done business all over the world and been directly involved in alternative energy projects planning in Europe, the Middle East, Africa and South America. I donít owe my soul to either American oil or alternative energy and refuse to put my head in the sand.

  10. #2110

    Default Re: Oil prices

    Quote Originally Posted by RedDollar View Post
    Well, US domestic producers need to curtail production instead of increasing production. Problem with that, its like herding cats.
    Oddly enough. News out March 30, Texas Oil producers asked the State Railroad Commission to regulate output. The cats asking to be herded?! I never thought I'd see it!

  11. #2111

    Default Re: Oil prices

    Russia said ready to cut production by 1.6M bbl/day

  12. #2112

    Default Re: Oil prices

    Quote Originally Posted by OKC Guy View Post
    Russia said ready to cut production by 1.6M bbl/day
    That sounds like a drop in the bucket. I guess it's a start.

  13. #2113

    Default Re: Oil prices

    Quote Originally Posted by OKCRT View Post
    That sounds like a drop in the bucket. I guess it's a start.
    Tomorrow is the big pow wow lets see what they all do.

  14. #2114

    Default Re: Oil prices

    Quote Originally Posted by OKC Guy View Post
    Tomorrow is the big pow wow lets see what they all do.
    They already know what they're gonna do , this is all just posturing . They will agree to some production cuts.

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