$100 A Barrel Oil is on the Way

#1,602
#1,602
Oil going down in price should be good for the consumer and may also force energy companies to finally invest in renewable alternatives that they could patent and monetize.
 
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#1,604
#1,604
alexmanu said:
Oil going down in price should be good for the consumer and may also force energy companies to finally invest in renewable alternatives that they could patent and monetize.
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Oil will go back up. eventually. What they should be investing in is upgraded facilities... take the losses going forward for when they are making better profits.
 
#1,605
#1,605
Obama's latest scheme to undermine the U.S. economy: cheap oil

So far cheap oil hurting economy more than it’s helping

Cheaper gasoline was supposed to turbocharge the U.S. economy, but so far it’s brought almost nothing but grief.

The nation’s rate of economic growth came to a standstill in the first three months of 2015, rising a measly 0.2% after gains of 2.2%, 5% and 4.6% in the prior three quarters. And a big culprit was the 50%-plus plunge in petroleum prices from last July through January.

Staring at the collapse in oil prices, U.S. energy producers have pulled the plug on investment and cut thousands of jobs, government data show.
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#1,612
#1,612
Looks like Oil has bottomed and wants to break out. It's up 1.5% today & at $59 a barrel. Definitely a rotation out of biotechs and into energy
 
#1,615
#1,615
Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.
 
#1,616
#1,616
TennFan said:
Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.
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We don't need keystone.. Lol
 
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#1,617
#1,617
Biopsyman said:
We don't need keystone.. Lol
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Naw. Oil trains are much safer

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635665122471618667-Heimdal-train-derail-pic-Jennifer-Willis.jpg


casselton123113a.JPG


train.jpg
 
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#1,618
#1,618
TennFan said:
Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.
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its already 2.54 in Illinois -- who/what is responsible for the barrel prices going up this time ?
 
#1,621
#1,621
TennTradition said:
The CEO of Shell said in a presentation I attended that they were confident that they would develop 40-60 dollar a barrel oil from oil shale. We'll see.....
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I’d say post 12 from October 2007 has something to do with it.

Your domestic oil producers from the Permian Basin say hello and wishes everybody a happy holiday season!
 
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#1,623
#1,623
Velo Vol said:
Down ~40 cents during the period.

That doesn't explain a 30% decline since October.
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Yes it does.

The US is back to being the number 1 oil producer in the world again. The restrictions have been removed allowing us to export oil again. In October the US set a record of 11.7 million barrels of oil produced in a day and it’s gone up from there I think. This is all enabled by hydraulic fracking in the shale oil boom. US oil production has doubled in the last 8 years (look at the date stamp of the post I quoted)

You’re assuming the price was correct before. Based on the new supply/demand economics I’d submit it was over priced in the first place.
 
#1,624
#1,624
I remembered reading due to hydraulic fracking recent improvements the break even cost on US production has decreased dramatically. So I looked up the curve.

Oil was over priced. I’d say it’s correcting. Probably undershot a tad but 60 a barrel a sweet spot for US production. 31CA3A9A-36AF-4E53-A55C-4133B8026656.jpeg
 
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#1,625
#1,625
NorthDallas40 said:
The US is back to being the number 1 oil producer in the world again. The restrictions have been removed allowing us to export oil again. In October the US set a record of 11.7 million barrels of oil produced in a day and it’s gone up from there I think. This is all enabled by hydraulic fracking in the shale oil boom. US oil production has doubled in the last 8 years (look at the date stamp of the post I quoted)
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This was all well-known when the price was 30% higher. Old news for a market that is forward-looking.
 
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