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

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

    Quote Originally Posted by Hatuey View Post
    Is it relevant? You already believe the cost of crude will go up. However, if OPEC doesn't want it to, it won't. That makes your blind faith in the free market not only laughable, it makes it ignorant of how the oil markets work. The truth is that for the next 10 years, OPEC could decide to keep prices at low levels like they did from 1960 to the 1970s or it could decide to dramatically lower prices like it did from 1980 to 1999. Not only would the US be unable to do anything about it, we'd be stuck with their prices for a decade unless we somehow manage to 1) produce enough oil to put a dent on our foreign oil dependence and 2) we convince private corporations to not export our gasoline and diesel (which bypass federal law). As none of those things is likely to happen, all we have is your faith that Arabs will be nice enough to push up prices. Then when they do, you'll parade around the forum saying how this is the free market at work and it will be better if we let the market sort itself out.
    Nice hyperbolic fantasm, but I was curious on who you thought should control the market for oil. Your diatribe of imagined verbiage missed that mark.

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

    Quote Originally Posted by ttwtt78640 View Post
    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 data tells a different story:

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

    Quote Originally Posted by ocean515 View Post
    Nice hyperbolic fantasm, but I was curious on who you thought should control the market for oil. Your diatribe of imagined verbiage missed that mark.
    Well, I wouldn't expect you to have a coherent response other than, nuh-uh! Most people don't when the realities of the free market are scrutinized.
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by ocean515 View Post
    I'm not sure how many are doe-eyed, but I'm sure there are some. The economic stimulus is certainly hard to keep out of the news.

    As to the load of data you presented, I'm impressed.
    Thanks.

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

    Quote Originally Posted by KevinKohler View Post
    Is this a thread decrying the fact that oil companies control value, as opposed to supply and demand, or one that is supposed to be supporting the theory of supply and demand?
    No ****.

    It is obvious that the price of gasoline is in-elastic when compared to the price of crude.

    The drop in gas has not mirrored the drop in crude in any comparable percentage.
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by Hatuey View Post
    Well, I wouldn't expect you to have a coherent response other than, nuh-uh! Most people don't when the realities of the free market are scrutinized.
    It would seem the mantle of In-coherent Response has been claimed by you. It would seem you remain clueless as to who should control the oil market, but have all the answers to who shouldn't. A one wheeled bicycle is tough to sell.

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

    Quote Originally Posted by DA60 View Post
    Actually, your vehicle is probably about 1 1/2 tons and a full size pickup is just over 2 1/2 tons (though the new aluminum Ford F-150 is 700 pounds less).

    Just sayin'...
    Good point. it is almost 3K pounds. With me in it it is just a bit more.

    My point remains the same.

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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.
    I wonder what the profitability is at $69 a barrel because that is what it is now.
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    Re: Oil at $75 Means Patches of Texas Shale Turn Unprofitable

    Quote Originally Posted by Hari Seldon View Post
    I wonder what the profitability is at $69 a barrel because that is what it is now.
    Well now, it is even less profitable at $60/barrel. The Saudis do that and it squeezes Russia hard. At the same time the Koch Brothers (famous Republicans and energy developers Chesapeake Oil etc.) get put in a squeeze big time and perhaps won't be able to contribute on quite such a formidable scale. Everybody gets to blame the Saudis, but these things are certainly not predictable and who would conspire geo-politically. Move it all to the CT threads, eh?

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

    Quote Originally Posted by DaveFagan View Post
    Well now, it is even less profitable at $60/barrel. The Saudis do that and it squeezes Russia hard. At the same time the Koch Brothers (famous Republicans and energy developers Chesapeake Oil etc.) get put in a squeeze big time and perhaps won't be able to contribute on quite such a formidable scale. Everybody gets to blame the Saudis, but these things are certainly not predictable and who would conspire geo-politically. Move it all to the CT threads, eh?
    KSA can survive for a year if they have to with zero oil profits. They are likely trying to squeeze the Fracking industry out of production, and any hits to Russia (who support regional enemy Iran) is just foreign policy icing on the cake.We might also be seeing a long-term degradation in OPECs ability to steer oil prices.

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