OPEC Choice--Keep Production High!

Sand4x105

Sand4x105

Well-Known Member
So reading between the OPEC headlines, and loving the cheap gas.
Fracking--yes because of fracking and the availability of $60 per barrel Fracked Oil, the OPEC members decide to keep production high ! We win with lower gas prices for now!
OPEC is betting that when crude hits $55 per barrel [gas at $2.00-2.50 per gallon nation wide] Fracking will halt.
Fracked Oil is only profitable at $60 + a barrel of crude oil
It's a big gamble, with the Gas buying public winning! For now...
If OPEC wins it's gamble, You Fracking haters will win. Fracking will shut down at less than $55 per barrel.
So, drive all you want [for next 5 years] fuel is going lower!
OPEC wants it's old rule, and the only way is to raise the price of crude, by driving out the competition ...
Enjoy the glut of oil while you can!

So, Fracking Haters, you anti frackers, how does it feel? How do you like being on the side of OPEC?
How do you like being anti low fuel cost?
I am telling you: Sell Your Oil Stocks Now

You will thank me later
 
NLXSK1

NLXSK1

Well-Known Member
heckler73 said:
How do you know what OPEC is thinking?
Have you looked at their economies, by chance, and seen what drives them?
This is desperation, not some strategy to cripple the West.
Click to expand...
I wouldnt say it is desperation. It is a reaction by OPEC To the changing market conditions and a new supplier. Simple economics.
 
N

NoDrama

Well-Known Member
There is a huge glut of oil currently due to a slowdown in the economies of China ( #1 oil Importer in the world), the EU ( #3) and Japan (#2).

Oddly enough, and by much coincidence, low oil prices hurt Russia more than any other country. Just seems like we have been egging Putin to war for years now. Got his whole country surrounded by US bases and missiles. Almost like we are begging for him to try something so we can swoop in and take the largest country in the world as our prize.

OPEC isn't going to cut production, if anything they are going to INCREASE it.


Oh, and you should have sold your oil stocks 6 months ago.
 
NLXSK1

NLXSK1

Well-Known Member
NoDrama said:
There is a huge glut of oil currently due to a slowdown in the economies of China ( #1 oil Importer in the world), the EU ( #3) and Japan (#2).

Oddly enough, and by much coincidence, low oil prices hurt Russia more than any other country. Just seems like we have been egging Putin to war for years now. Got his whole country surrounded by US bases and missiles. Almost like we are begging for him to try something so we can swoop in and take the largest country in the world as our prize.

OPEC isn't going to cut production, if anything they are going to INCREASE it.


Oh, and you should have sold your oil stocks 6 months ago.
Click to expand...
We are not smart enough to keep any of the countries we take...
 
SmokeyDan

SmokeyDan

Well-Known Member
NoDrama said:
There is a huge glut of oil currently due to a slowdown in the economies of China ( #1 oil Importer in the world), the EU ( #3) and Japan (#2).

Oddly enough, and by much coincidence, low oil prices hurt Russia more than any other country. Just seems like we have been egging Putin to war for years now. Got his whole country surrounded by US bases and missiles. Almost like we are begging for him to try something so we can swoop in and take the largest country in the world as our prize.

OPEC isn't going to cut production, if anything they are going to INCREASE it.


Oh, and you should have sold your oil stocks 6 months ago.
Click to expand...
I don't think we have all those things as a way of enticing Russia to war, I think they exist to prevent Russia from doing too much so as to necessitate a war.

No way we want to fight Russia in their back yard.
 
N

NoDrama

Well-Known Member
SmokeyDan said:
No way we want to fight Russia in their back yard.
Click to expand...
Why do we keep creating trouble in Ukraine then? The coup was backed by US interests. I mean if Russia built a missile base in Cuba, would you take that at a threat? How about if it had bases in Mexico and Canada as well?
 
UncleBuck

UncleBuck

Well-Known Member
threads like this remind me of an episode of meet the press, only with 6 retarded people talking.
 
SmokeyDan

SmokeyDan

Well-Known Member
NoDrama said:
Why do we keep creating trouble in Ukraine then? The coup was backed by US interests. I mean if Russia built a missile base in Cuba, would you take that at a threat? How about if it had bases in Mexico and Canada as well?
Click to expand...
I would say it was backed by Western interests.

I could be wrong, I just can't imagine any sane policy that involves provoking Russia into war.

I could see trying to go for polarization, as I think the world was a saner place when it was usa v ussr.
 
C

ChesusRice

Well-Known Member
Sand4x105 said:
So reading between the OPEC headlines, and loving the cheap gas.
Fracking--yes because of fracking and the availability of $60 per barrel Fracked Oil, the OPEC members decide to keep production high ! We win with lower gas prices for now!
OPEC is betting that when crude hits $55 per barrel [gas at $2.00-2.50 per gallon nation wide] Fracking will halt.
Fracked Oil is only profitable at $60 + a barrel of crude oil
It's a big gamble, with the Gas buying public winning! For now...
If OPEC wins it's gamble, You Fracking haters will win. Fracking will shut down at less than $55 per barrel.
So, drive all you want [for next 5 years] fuel is going lower!
OPEC wants it's old rule, and the only way is to raise the price of crude, by driving out the competition ...
Enjoy the glut of oil while you can!

So, Fracking Haters, you anti frackers, how does it feel? How do you like being on the side of OPEC?
How do you like being anti low fuel cost?
I am telling you: Sell Your Oil Stocks Now

You will thank me later
Click to expand...
bakken oil is 96% profitable at 42 dollars.
Meaning 96% of the producers still make money at 42 dollars a barrel.
Only 4% lose money at less than 80 bucks
 
Rob Roy

Rob Roy

Well-Known Member
It could get more interesting when the movement of some countries away from trading in the U.S. dollar gets traction.
 
N

NoDrama

Well-Known Member
ChesusRice said:
bakken oil is 96% profitable at 42 dollars.
Meaning 96% of the producers still make money at 42 dollars a barrel.
Only 4% lose money at less than 80 bucks
Click to expand...
Cheesy been listening to IEA and not the Oil Companies themselves.
There is no Bakken driller who can make a profit at anything under $55-$60.
Since leases that are not drilled are lost and the lease money is also lost, most likely you will see the biggest companies buy all those leases from the little companies and all the little companies will close up shop. The small drillers need oil at $80 to make a profit.

http://www.businessinsider.com/citi-breakeven-oil-production-prices-2014-11
http://www.reuters.com/article/2014/10/23/idUSL3N0SH5N220141023

at $75 many companies were telling their employees to watch the overtime and capital expenditures have decreased since 5 months ago.

in 2009 when oil was at $42, there was no one working in the bakken, the oil field was pretty much laid off, bare minimum activity to keep the leases valid was the only thing happening.

If you think an oil driller will continue to lose money just because they bought new equipment, let me remind you of 1981.

You can bet they will pump as much as they possibly can and ride the price down until they cannot make it work any more.
 
W

Wilksey

Well-Known Member
If I was the POTUS, we would have used Iraqi oil to pay for the invasion, AND Afghanistan, AND a "Manhattan project" funding scientists to develop a clean, safe, and reusable energy source to be available for sale to citizens at a reasonable price.

Fuck oil.
 
N

NoDrama

Well-Known Member
Beware the assholes who say that low oil prices are good for the US, they aren't.
Low prices would be good if we were buying oil.
Low Prices are bad if we are producing it.
China will be the big winner, they are the biggest buyer of oil.
USA is the #1 producer of oil right now.
 
Thecouchlock

Thecouchlock

Well-Known Member
I hate to think that low prices hurt us but I am sure it is a way to bend us over and drive the drill deeper into our asses after china buys all our oil.
 
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