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Thread: CNN: Gas For Less Than $2 Is Now Widespread

  1. #31
    soot's Avatar
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    Apr 2013
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    10-21-16 @ 02:24 PM

    Re: CNN: Gas For Less Than $2 Is Now Widespread

    Quote Originally Posted by longview View Post
    The oil price is down because supply is up, Supply is up, because of new (more expensive)
    extraction technologies.
    With the price down, the new technologies become less viable, so the supply
    will shrink, and the price will increase.
    Inland upstream is viable to ~$55/bbl in the Marcellus (PA, WVa, etc, for those who don't have longview's knowledge of the oil game); ~$40/bbl in the Bakken (ND); $35/bbl in the Eagle Ford (TX).

    So some folks are already hurting, some are getting ready to hurt, and some are still making good money.

    Wood-Mackenzie is predicting that it will bottom out at $30 --- then rebound and stabilize at ~$73/bbl. The time it takes from reaching the bottom to stabilizing will be the determining factor on who makes it and who folds.

    I doubt that the recovery (of oil) is just going to stop, though.

    The big fish will swallow up the mom & pops who don't have the necessary portfolio of assets to weather the storm, as it were.

    Then, maybe, we'll get a republican president who will issue new leases and with their new tight recovery assets we'll really be in a position to stick it to the Arabs.
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

  2. #32
    Global Moderator
    Helix's Avatar
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    Jul 2011
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    Yesterday @ 10:07 PM

    Re: CNN: Gas For Less Than $2 Is Now Widespread

    Quote Originally Posted by cpwill View Post
    Yeah. North Cacallaccy taxes suck. $2.45 if you're willing to drive to an out of the way station around here.
    i'm not big on high gas taxes. i know it's technically a user fee, but it's regressive as hell.

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