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In a field of brittle yellow grass and clotted mud about five miles north of Dickinson, North Dakota, stands a cemetery of sorts. Drilling rigs stretch into the sky like tall skeletons. The occasional lone truck rattles along a dirt road. Otherwise, the location is deserted.
Gas is cheap.. Well, "cheap".. People start buying SUVs again, driving for vacation.. Demand goes up, prices go up, oil rigs open again.. The circle of life continues.
I guess it must be a slow news day and something tells me this journalist does not have boots on the ground in the oil fields. Sure things have gotten slower, people have been laid off, but a lot of us are still working. My job is tied to the oil fields and I’m still busy. I think this journalist needs to go look up the word “bust” as North Dakota will be just fine.
While the rig count is down.... it is far from a bust in western ND (esp Williston). The first rigs to stop were in the outlying areas where it is less profitable. Williston-Watford City areas still OK Slowed down to a normal pace, instead of the frenzied pace of the past few years.
Gas is cheap.. Well, "cheap".. People start buying SUVs again, driving for vacation.. Demand goes up, prices go up, oil rigs open again.. The circle of life continues.
It's got nothing to do with SUV's and everything to do with OPEC dumping product on the market with the intention of driving these companies out of business. They are also taking a shot across the bow of future investors.
You can make diesel fuel with coal for equivalent of what it would cost for $50 or $60 a barrel, private development is not going to happen as long as OPEC has a gun to their heads.
Prices will come back up, how much depends on who blinks first.
While the rig count is down.... it is far from a bust in western ND (esp Williston). The first rigs to stop were in the outlying areas where it is less profitable. Williston-Watford City areas still OK Slowed down to a normal pace, instead of the frenzied pace of the past few years.
That's what I've heard as well.
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