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Thread: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

  1. #51
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by ocean515 View Post
    Thank you for the link. Unfortunately, an agenda driven website presenting a report covering a false premise doesn't get very far in my book. Shale and tight oil have never, to my knowledge, been considered an answer to a petroleum crisis. They have always been considered a viable addition to petroleum production and supplies.

    As such, the "desmog.blog, and the "Post Carbon Institute" may want to rethink their spin if they intend to attract an audience beyond the cheerleaders already in their camp.
    The problem is a lot of people that are ignorant of the basic economics of oil production have thought that tight oil would lead to low prices at the pump when it actually the only way to reduce prices at the pump at this point is through greater vehicle efficiency that leads to reduced demand.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  2. #52
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by SouthernDemocrat View Post
    That new Camaro also gets far better mpg, is more reliable, more comfortable to drive, and would walk off and leave the equivalent 69 model. The fastest production Camaro in 1969 had a zero to 60 time of 5.9 seconds. The fastest production Camaro today has a zero to 60 time of 3.7 seconds.
    The 1/4 mile times are virtually identical. Improvements in HP to weight ratio do not come cheaply either; the inflation adjusted price of $4K for a 1969 Camaro Z-28 would be about $25K for a 2014 model but they actually now cost about $75K.

    1969 CHEVROLET CAMARO Information Specifications Resources Pictures

    2014 Chevy Camaro Z/28 priced At $75,000 | Fox News
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  3. #53
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by ocean515 View Post
    Of course it's a dream solution. The cost of crude will return to levels that will allow shale derived oil to return to profitability.
    Praise the market! The market will provide! We must trust the market!
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

  4. #54
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by SouthernDemocrat View Post
    Here is another comparison. The Chevy Half ton pickup in 1970 which was the absolute pinnacle of performance in the pre-emission controls / pre-CAFE standards era had the following performance specs for the 350 small block:

    255 HP and 355 Pounds of Torque. It achieved 10 mpg in town and 12 mpg on the highway.

    Today, a Chevy Half ton equipped with a 5.3 liter engine (smaller than the 1970 5.7) has the following performance specs:

    355 HP and 383 Pounds of Torque. It averages 24 mpg on the highway.

    So despite those horrible CAFE regulations, Safety Standards, and Emission Controls, that truck gets twice the MPG, 100 more horsepower, and more torque.

    Yep, but at what cost?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  5. #55
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by SouthernDemocrat View Post
    The problem is a lot of people that are ignorant of the basic economics of oil production have thought that tight oil would lead to low prices at the pump when it actually the only way to reduce prices at the pump at this point is through greater vehicle efficiency that leads to reduced demand.
    Whether they are ignorant or not doesn't change the economics of additional sources of petroleum. Production from these sources has never been offered as an inexpensive process. These sources require the market support a high enough price to make the effort affordable. As global reserves continue to be impacted by politics and dwindling supply, developing alternative domestic sources is not only a reasonable reaction, but areasonable strategic one.

    When gold mines in the west shut down, it was not for a lack of gold, but for a lack of profit in mining it. Had higher prices not evolved, current prices would be dramatically higher. This same thing holds true with oil.

  6. #56
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by DA60 View Post
    'With crude at $75 a barrel, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year, 19 U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance.'

    Oil at $75 Means Patches of Texas Shale Turn Unprofitable - Bloomberg

    Shale Profits at Risk - Bloomberg


    I (and others) have said for a while that shale oil is not the dream solution that the media is making it out to be.
    Excellent news. And I can't say that I'm surprised; oil is such a boom-and-bust commodity. If shale oil does enter a bust cycle, then a lot of people are going to have to eat mountains of crow.

    Meanwhile, Texas's wind energy market is as strong as ever.
    "A man you can bait with a tweet is not a man we can trust with nuclear weapons." --Hillary Rodham Clinton
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by Hatuey View Post
    Praise the market! The market will provide! We must trust the market!
    Well it certainly makes more sense than trusting in Hatuey!

  8. #58
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by ocean515 View Post
    Well it certainly makes more sense than trusting in Hatuey!
    Well, at least you agree you have unmoving faith in a supposedly free system of supply and demand (that is actually controlled by an organization).
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by Hatuey View Post
    Well, at least you agree you have unmoving faith in a supposedly free system of supply and demand (that is actually controlled by an organization).
    I do have faith. Your invention of what you think that is, is of course, your own to believe.

  10. #60
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by ocean515 View Post
    I do have faith. Your invention of what you think that is, is of course, your own to believe.
    We know we know, the free market (controlled by an organization of countries) will prevail.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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