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Posted: 10/21/2014 8:21:05 PM EDT
[#1]
Not far enough. $30 a barrel would be nice.
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Posted: 10/21/2014 8:21:46 PM EDT
[#2]
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Not far enough. $30 a barrel would be nice. Fuck that |
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Posted: 10/21/2014 8:22:09 PM EDT
[#3]
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. |
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Posted: 10/21/2014 8:22:47 PM EDT
[#4]
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You wouldn't have any at that price. No one would bother to produce it. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. This. If it continues its trend, we're gonna have a bad day. |
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Posted: 10/21/2014 8:25:18 PM EDT
[#5]
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You wouldn't have any at that price. No one would bother to produce it. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree |
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Posted: 10/21/2014 8:25:25 PM EDT
[#6]
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This. If it continues its trend, we're gonna have a bad day. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. This. If it continues its trend, we're gonna have a bad day. This. I nearly lost my ass and my house when it crashed in 2007. |
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Posted: 10/21/2014 8:26:42 PM EDT
[#7]
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Meh. I disagree Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree lol You disagree with what? |
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Posted: 10/21/2014 8:29:22 PM EDT
[#8]
Remember 87 cents a gal.
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Posted: 10/21/2014 8:29:55 PM EDT
[#9]
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lol You disagree with what? Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree lol You disagree with what? Lol I remember not that long ago gas was half the price it is now, not to mention diesel fuel. Plenty of people producing it then, and I don't believe that it is twice as much now because of a weak dollar. |
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Posted: 10/21/2014 8:31:11 PM EDT
[#10]
Quote HistoryQuoted:
Remember 87 cents a gal. I remember my dad bitching when it was 39 cents a gallon. |
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Posted: 10/21/2014 8:31:35 PM EDT
[#11]
Stupid question but is there money to be made off this in the stock market or something?
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Posted: 10/21/2014 8:31:58 PM EDT
[#12]
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lol You disagree with what? Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree lol You disagree with what? I'm gearing up to absorb some stupefying Arfconomics, cut 'er loose! Edit: Too late, that was disappointing, but I'm holding out hope. |
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Posted: 10/21/2014 8:32:40 PM EDT
[#13]
Quote HistoryQuoted:
You wouldn't have any at that price. No one would bother to produce it. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. lol no |
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Posted: 10/21/2014 8:33:35 PM EDT
[#14]
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This. I nearly lost my ass and my house when it crashed in 2007. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. This. If it continues its trend, we're gonna have a bad day. This. I nearly lost my ass and my house when it crashed in 2007. Don't sweat it; those days will never happen again. |
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Posted: 10/21/2014 8:35:38 PM EDT
[#15]
isn't that what the Saudis are trying to do?lower it to find the point were fracking isn't worth it.
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Posted: 10/21/2014 8:36:52 PM EDT
[#16]
I would just be happy if diesel would come down to something reasonable...
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Posted: 10/21/2014 8:37:46 PM EDT
[#17]
Quote HistoryQuoted:
Remember 87 cents a gal. I remember ethyl at 25 cents a gallon. 
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Posted: 10/21/2014 8:38:31 PM EDT
[#18]
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Lol I remember not that long ago gas was half the price it is now, not to mention diesel fuel. Plenty of people producing it then, and I don't believe that it is twice as much now because of a weak dollar. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree lol You disagree with what? Lol I remember not that long ago gas was half the price it is now, not to mention diesel fuel. Plenty of people producing it then, and I don't believe that it is twice as much now because of a weak dollar. This.. Gas was HALF the price and no one was losing anything, we could afford to go places, driving to work wasn't eating up a shitload of income. |
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Posted: 10/21/2014 8:43:27 PM EDT
[#19]
The methods being used to extract oil/gas are much more expensive than the methods employed 10-15 years ago. Keep that in mind.
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Posted: 10/21/2014 8:44:31 PM EDT
[#20]
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This. If it continues its trend, we're gonna have a bad day. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. This. If it continues its trend, we're gonna have a bad day. That wound ruin many investment houses and portfolios |
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Posted: 10/21/2014 8:44:59 PM EDT
[#21]
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I would just be happy if diesel would come down to something reasonable... 3.35 here |
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Posted: 10/21/2014 8:46:42 PM EDT
[#22]
Quote HistoryQuoted: Meh. I disagree Quote HistoryQuoted: Quoted: Quoted: Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree We got fucked this way in the 70's. OPEC produced a glut of oil on the world market. It killed the domestic drilling industry...then they raised their prices to whatever they wanted to. Indeed, if oil prices fall below the cost of a positive return on investment.....domestic production will be shut-in and domestic exploration will cease until prices rise again. You can disagree all you want, but I've been in the oil business long enough to have seen what happened in the 70's. Are you in the business? |
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Posted: 10/21/2014 8:48:17 PM EDT
[#23]
$1 bob
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Posted: 10/21/2014 8:48:53 PM EDT
[#24]
Quote HistoryQuoted: isn't that what the Saudis are trying to do?lower it to find the point were fracking isn't worth it. |
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Posted: 10/21/2014 8:50:46 PM EDT
[#25]
Quote HistoryQuoted: This.. Gas was HALF the price and no one was losing anything, we could afford to go places, driving to work wasn't eating up a shitload of income. Quote HistoryQuoted: Quoted: Quoted: lol You disagree with what? Lol I remember not that long ago gas was half the price it is now, not to mention diesel fuel. Plenty of people producing it then, and I don't believe that it is twice as much now because of a weak dollar. This.. Gas was HALF the price and no one was losing anything, we could afford to go places, driving to work wasn't eating up a shitload of income.  |
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Posted: 10/21/2014 8:51:30 PM EDT
[#26]
Quote HistoryQuoted:
We got fucked this way in the 70's. OPEC produced a glut of oil on the world market. It killed the domestic drilling industry...then they raised their prices to whatever they wanted to. Indeed, if oil prices fall below the cost of a positive return on investment.....domestic production will be shut-in and domestic exploration will cease until prices rise again. You can disagree all you want, but I've been in the oil business long enough to have seen what happened in the 70's. Are you in the business? Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree Indeed, if oil prices fall below the cost of a positive return on investment.....domestic production will be shut-in and domestic exploration will cease until prices rise again. You can disagree all you want, but I've been in the oil business long enough to have seen what happened in the 70's. Are you in the business? Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. |
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Posted: 10/21/2014 8:52:41 PM EDT
[#27]
Quote HistoryQuoted:
Remember 87 cents a gal. That was a function of the strength of the dollar, not so much as the price of oil. They are connected but not related. |
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Posted: 10/21/2014 8:53:07 PM EDT
[#28]
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I remember my dad bitching when it was 39 cents a gallon. Quote HistoryQuoted:
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Remember 87 cents a gal. I remember my dad bitching when it was 39 cents a gallon. In 1970 I refused to pay 30 cents a gallon in Florida $30 a barrel oil means the world economy is in the shitter and a lot of STEM grads are out of work |
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Posted: 10/21/2014 8:53:34 PM EDT
[#29]
Quote HistoryQuoted:
Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. Meh. I disagree Indeed, if oil prices fall below the cost of a positive return on investment.....domestic production will be shut-in and domestic exploration will cease until prices rise again. You can disagree all you want, but I've been in the oil business long enough to have seen what happened in the 70's. Are you in the business? Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. EPA. |
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Posted: 10/21/2014 8:54:09 PM EDT
[#30]
Quote HistoryQuoted: Not far enough. $30 a barrel would be nice. |
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Posted: 10/21/2014 8:56:04 PM EDT
[#31]
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Spiraling deflation would not be nice. Lot of people without jobs. Quote HistoryQuoted:
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Not far enough. $30 a barrel would be nice. I was lucky to only take a 60% pay cut and still keep my job when oil hit $42 in 2007. |
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Posted: 10/21/2014 8:56:31 PM EDT
[#32]
Quote HistoryOriginally Posted By Stiles1410 Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. Blame the Obummer regime who persists in printing fiat currency. The dollar isn't holding it's value and inflation sets in. It's not that a gallon of fuel has increased that much in cost....it's the fact that what it's being purchased with doesn't have the purchasing power it once did. As oil is traded on the world market...in US Dollars...the price per barrel will 'increase' as the dollar is devalued. Compare the increase in the oil prices to the increasing prices of all goods and services....they're pretty parallel. Bought any groceries lately? |
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Posted: 10/21/2014 8:58:08 PM EDT
[#33]
Quoted: Interesting article. http://www.fool.com/investing/general/2014/10/20/how-low-can-oil-prices-go.aspx That article is....fucked. The breakeven price for most wells is NOWHERE near $80 (or even $100, as the article claims). The most expensive wells in Canada need $50 to break even, and most are closer to $35-40. Oil could stay below $80 for awhile and it wouldn't matter. |
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Posted: 10/21/2014 8:58:09 PM EDT
[#34]
I would just be happy if diesel would come down to something reasonable... No kidding. |
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Posted: 10/21/2014 8:59:38 PM EDT
[#35]
Quote HistoryQuoted: lol no Quote HistoryQuoted: Quoted: Quoted: Not far enough. $30 a barrel would be nice. You wouldn't have any at that price. No one would bother to produce it. lol no lol yes. |
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Posted: 10/21/2014 9:01:28 PM EDT
[#36]
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Bingo. Quote HistoryQuoted:
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isn't that what the Saudis are trying to do?lower it to find the point were fracking isn't worth it. Exactly, with hydraulic fracturing opening field previously unavailable the US is threatening OPECs strangle hold on oil, consequently OPEC is trying to lower the price enough to cease/reduce US production without throwing away all their profit. Shale formations like Cline, Eagle Ford, Marcellus, Utica, Bakken, Tuscaloosa Marine all have to be frac'd to free the oil in a tight formation. Frac is labor intensive and consequently very expensive. Domestic oil below $80 for a long period will dramatically slow production, oil below $65 will all but stop it. Be careful what you wish for today, as you may very well find it broke off in your ass tomorrow. |
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Posted: 10/21/2014 9:02:06 PM EDT
[#37]
Quote HistoryQuoted: That article is....fucked. The breakeven price for most wells is NOWHERE near $80 (or even $100, as the article claims). The most expensive wells in Canada need $50 to break even, and most are closer to $35-40. Oil could stay below $80 for awhile and it wouldn't matter. Quote HistoryQuoted: Quoted: Interesting article. http://www.fool.com/investing/general/2014/10/20/how-low-can-oil-prices-go.aspx That article is....fucked. The breakeven price for most wells is NOWHERE near $80 (or even $100, as the article claims). The most expensive wells in Canada need $50 to break even, and most are closer to $35-40. Oil could stay below $80 for awhile and it wouldn't matter. |
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Posted: 10/21/2014 9:02:10 PM EDT
[#38]
Quote HistoryQuoted:
Blame the Obummer regime who persists in printing fiat currency. The dollar isn't holding it's value and inflation sets in. It's not that a gallon of fuel has increased that much in cost....it's the fact that what it's being purchased with doesn't have the purchasing power it once did. As oil is traded on the world market...in US Dollars...the price per barrel will 'increase' as the dollar is devalued. Quote HistoryQuoted:
Originally Posted By Stiles1410
Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. It's not that a gallon of fuel has increased that much in cost....it's the fact that what it's being purchased with doesn't have the purchasing power it once did. As oil is traded on the world market...in US Dollars...the price per barrel will 'increase' as the dollar is devalued. That still does not explain why Diesel is so much more expensive than gas. Is it true that diesel is a by product or spoil of producing gas? One would think that it would be less expensive. It used to be even after the decline of the dollar. |
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Posted: 10/21/2014 9:03:18 PM EDT
[#39]
About 40,000 feet deep.
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Posted: 10/21/2014 9:03:23 PM EDT
[#40]
Quote HistoryQuoted: Exactly, with hydraulic fracturing opening field previously unavailable the US is threatening OPECs strangle hold on oil, consequently OPEC is trying to lower the price enough to cease/reduce US production without throwing away all their profit. Shale formations like Cline, Eagle Ford, Marcellus, Utica, Bakken, Tuscaloosa Marine all have to be frac'd to free the oil in a tight formation. Frac is labor intensive and consequently very expensive. Domestic oil below $80 for a long period will dramatically slow production, oil below $65 will all but stop it. Be careful what you wish for today, as you may very well find it broke off in your ass tomorrow. Quote HistoryQuoted: Quoted: Quoted: isn't that what the Saudis are trying to do?lower it to find the point were fracking isn't worth it. Exactly, with hydraulic fracturing opening field previously unavailable the US is threatening OPECs strangle hold on oil, consequently OPEC is trying to lower the price enough to cease/reduce US production without throwing away all their profit. Shale formations like Cline, Eagle Ford, Marcellus, Utica, Bakken, Tuscaloosa Marine all have to be frac'd to free the oil in a tight formation. Frac is labor intensive and consequently very expensive. Domestic oil below $80 for a long period will dramatically slow production, oil below $65 will all but stop it. Be careful what you wish for today, as you may very well find it broke off in your ass tomorrow.  |
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Posted: 10/21/2014 9:03:41 PM EDT
[#41]
Supply and demand of crude is not as significant of a driver of /gallon cost as it once was. Fuel economy keeps increasing, oil reserves keep expanding...the house of Saud has lost price control and they know it. The shut in point for fracking tight shale is closer to $40/barrel. Oil sands is higher. There are all kinds of games played by trading entities and currency issues that have more influence over price than supply. Refining capacity and export retrictions on crude are another issue.
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Posted: 10/21/2014 9:05:12 PM EDT
[#42]
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EPA. they also the reason it dropped to .50 cents cheaper then gas for a few months last year? you know..where it should be. |
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Posted: 10/21/2014 9:06:08 PM EDT
[#43]
Quote HistoryQuoted: That still does not explain why Diesel is so much more expensive than gas. Is it true that diesel is a by product or spoil of producing gas? One would think that it would be less expensive. It used to be even after the decline of the dollar. Quote HistoryQuoted: Quoted: Originally Posted By Stiles1410 Nope just a consumer who does not enjoy shelling out 3.79 for a gallon of diesel. Why is it now that diesel is 70 cents a gallon more than gas when it used to be 70 cents cheaper. I hear because of taxes but have never seen proof. It's not that a gallon of fuel has increased that much in cost....it's the fact that what it's being purchased with doesn't have the purchasing power it once did. As oil is traded on the world market...in US Dollars...the price per barrel will 'increase' as the dollar is devalued. That still does not explain why Diesel is so much more expensive than gas. Is it true that diesel is a by product or spoil of producing gas? One would think that it would be less expensive. It used to be even after the decline of the dollar. There is only so many gallons of gasoline, so many gallons of diesel, so many gallons of (pick one) in a barrel of oil.  |
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Posted: 10/21/2014 9:06:14 PM EDT
[#44]
In the oil business here..
Realistic price range is in the $70/bbl range. Natural gas needs to come up another $1.5-2.5/cfm and you'd see drilling take off in more of the gas heavy ranges. (Utica / Marcellus ) Current diesel pricing laid in, transport pricing in Ohio, is around 3.15 a gallon. But people at the retail level won't get off the margins. Refiners are still high on the margins. Realistically without politics going on which is unpredictable - I see gas between 2.20 and 2.50 depending on your region. Diesel should be about 15-20 cents a gallon higher. Edit: The EPA caved into pressure this year and reduced the ethanol requirements for now. Which has tanked corn prices. That has also given gasoline some price breaks. |
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Posted: 10/21/2014 9:06:26 PM EDT
[#45]
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I would just be happy if diesel would come down to something reasonable... Not gonna happen thanks to the EPA |
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Posted: 10/21/2014 9:06:30 PM EDT
[#46]
Quote HistoryQuoted: isn't that what the Saudis are trying to do?lower it to find the point were fracking isn't worth it. I've heard something like that too and I believe that price was around $75 a barrel where our producers would stop producing. And I don't get why some here are saying cheap fuel is a bad thing unless they bought futures. 
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Posted: 10/21/2014 9:06:53 PM EDT
[#47]
Compare the increase in the oil prices to the increasing prices of all goods and services....they're pretty parallel. Bought any groceries lately?
Most of the increase of grocery prices have been blamed on the price of oil and increased cost of transporting those goods. Edit: screwed up the quote tree 
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Posted: 10/21/2014 9:08:58 PM EDT
[#48]
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Not gonna happen thanks to the EPA Quote HistoryQuoted:
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I would just be happy if diesel would come down to something reasonable... Not gonna happen thanks to the EPA Most of it is due to retailers keeping the margins high. I can show you rack(wholesale) pricing. |
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Posted: 10/21/2014 9:09:26 PM EDT
[#49]
As much as I like lower gas prices my son just recently got a high paying job with a good future doing Satellite Communications work that deals heavily with the oil industry. Praying this doesn't cost him his job since he is low man on the totem pole currently and he is loving this new job.
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Posted: 10/21/2014 9:09:42 PM EDT
[#50]
Quote HistoryQuoted: Not far enough. $30 a barrel would be nice. You shut the fuck up right now Sir.  |
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