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Started By
Message
re: Oil approaching $60
Posted on 12/11/14 at 3:17 am to LSUTigersVCURams
Posted on 12/11/14 at 3:17 am to LSUTigersVCURams
Lou had the luckiest divorce ever.
The court ordered his stock sold when it was still at a relatively high price. If he would had done it, he would have been busted for insider trading.
The court ordered his stock sold when it was still at a relatively high price. If he would had done it, he would have been busted for insider trading.
0
Posted on 12/11/14 at 5:18 am to Jim Rockford
Layoffs in the oil industry have already begun here in Houston. Bp also has announced major cuts coming.
Posted on 12/11/14 at 6:10 am to TexasTiger89
quote:
Layoffs in the oil industry have already begun here in Houston. Bp also has announced major cuts coming.
Who was the poster here who was hoping this would collapse Texas's economy
Posted on 12/11/14 at 7:48 am to LSUTigersVCURams
quote:
The saudis are trying to kill fracking, and it might work.
See I think the Saudis are trying to hurt Russia. They (the Saudis) are in bed with the US and know they have to allow our producers to remain unscathed, or else.
This post was edited on 12/11/14 at 7:49 am
Posted on 12/11/14 at 9:11 am to Lsut81
quote:
Who was the poster here who was hoping this would collapse Texas's econom
Ralph Wiggum.
Posted on 12/11/14 at 1:31 pm to TexasTiger89
More announcements on layoffs and laying down rigs coming. It's going to be a tough year.
This post was edited on 12/11/14 at 1:32 pm
Posted on 12/11/14 at 1:34 pm to RidiculousHype
quote:
The saudis are trying to kill fracking, and it might work.
quote:
See I think the Saudis are trying to hurt Russia. They (the Saudis) are in bed with the US and know they have to allow our producers to remain unscathed, or else.
I agree.....the Saudis won't do anything to upset their security.
Posted on 12/11/14 at 1:53 pm to RidiculousHype
They "scathed" our producers pretty hard from about 1986 - 2001.
Posted on 12/11/14 at 1:59 pm to cwill
quote:
Ralph Wiggum.
He's not going to get his wish about Texas collapsing, but I hope he is happy with people losing their jobs
Posted on 12/11/14 at 2:03 pm to cwill
Yeah they are about to scathe the hell out of us this time too.
Posted on 12/11/14 at 2:51 pm to Lsut81
quote:
Who was the poster here who was hoping this would collapse Texas's economy
Me. Texas is a red state anyways now and we need cheap oil which benefits the vast majority of people in the country versus people who work in the oil industry in Texas, Oklahoma, and North Dakota.
I once heard a college president of a school in Oklahoma joke about wishing for a cold winter in Chicago to help their budget.
Posted on 12/11/14 at 2:53 pm to cwill
quote:
They "scathed" our producers pretty hard from about 1986 - 2001.
Yes and it included one of our longest ever times of prosperity in the USA even with the 91 recession.
Posted on 12/11/14 at 2:54 pm to Lsut81
quote:
He's not going to get his wish about Texas collapsing, but I hope he is happy with people losing their jobs
It will slow down the Texas economy big time. Oil is to Texas as automobiles are to Michigan.
The Texas miracle is based on high oil prices. I don't like to see people lose their jobs but more people will get jobs in the rest of the country.
Posted on 12/11/14 at 2:56 pm to Ralph_Wiggum
Posted on 12/11/14 at 3:03 pm to Ralph_Wiggum
The U.S. is causing the price drop. You're welcome. Drive baby drive!
Posted on 12/11/14 at 3:23 pm to Ralph_Wiggum
quote:
Pump, Saudis Pump.
They didn't increase production...as C has provided above the swing barrel is the US shale barrel.
Posted on 12/11/14 at 4:12 pm to cwill
Where would the Obama recovery be with out the oil industry, we'll find out soon
Posted on 12/11/14 at 4:25 pm to RidiculousHype
quote:
They (the Saudis) are in bed with the US and know they have to allow our producers to remain unscathed, or else.
From what I understand about it (and please correct me if I'm wrong) fracking quits being economical when commodity crude falls below about $80 per barrel.
Again, I could be wrong about that and would welcome anyone who knows more about it to educate me.
Posted on 12/11/14 at 4:37 pm to LSUTigersVCURams
Lower prices simply mean fewer areas will get opened and fewer players will join the fight. Current projects to get oil out of the ground are unlikely to grind to a halt as a lot of investment has been made so whether they get $30 or $100 doesn't matter. It's still more than $0. Production growth may slow but I don't see it flat lining in the US for another few years even at decreased prices. I think you will see smaller players getting bought out as they can't afford to service their debt.
Posted on 12/11/14 at 6:59 pm to LSUTigersVCURams
quote:
Posted by LSUTigersVCURams
quote:
They (the Saudis) are in bed with the US and know they have to allow our producers to remain unscathed, or else.
From what I understand about it (and please correct me if I'm wrong) fracking quits being economical when commodity crude falls below about $80 per barrel.
Again, I could be wrong about that and would welcome anyone who knows more about it to educate me.
The break even $ varies from play to play, but those break even #s are related to the sweet spots. A lot of shale (tight oil) activity in the b and c grade acreage is now uneconomic. For La folks the entirety of the TMS is now uneconomic.
ETA: I think a good general break even $ at this point is $65.
This post was edited on 12/11/14 at 7:02 pm
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