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Old 06-29-2017, 09:52 AM
Status: "delete" (set 21 days ago)
 
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That's why they call it an oil shock.
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Old 06-29-2017, 10:00 AM
 
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Being in the industry I feel you will see moderate pricing (2.50 to 3.00) for some time unless we see disruption of supply for some reason ( terrorism - domestic or international). The fracking technology has been amazing and increased domestic production dramatically. Probably one of the best thing that has happen to America financially in the last couple decades. Low fuel prices help lower and moderate income people the most. Let's them spend less on fuel and more on other things to boost the economy.
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Old 06-29-2017, 10:00 AM
 
Location: State of Transition
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Quote:
Originally Posted by AJT123 View Post
Can we please not turn this into an Al Gore treehugger speech?
Fracking is a sign of a culture desperate to keep an unsustainable way of life going to the bitter end. A culture in the helpless grip of corporate interests, that will resort to anything, including fouling its dwindling water supplies, to keep oil flowing.

Remember that, as you enjoy your cheap gas.
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Old 06-29-2017, 10:21 AM
 
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Originally Posted by Jobster View Post
That's why they call it an oil shock.
But this time around the shock was in the industry and geographical areas heavily involved. Not the general economy.
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Old 06-29-2017, 10:30 AM
 
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Quote:
Originally Posted by Ruth4Truth View Post
Fracking is a sign of a culture desperate to keep an unsustainable way of life going to the bitter end. A culture in the helpless grip of corporate interests, that will resort to anything, including fouling its dwindling water supplies, to keep oil flowing.

Remember that, as you enjoy your cheap gas.
As usual you have no facts to back anything up. Just what you hear or read from liberals fake news.
There is nothing economic to replace oil at the this time. Also you need to Google what is made by
petroleum products you would be amazed. I would love to see your attitude if you were paying $7 per gallon. Probably much different.
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Old 06-29-2017, 10:37 AM
 
Location: Grosse Ile Michigan
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I was informed that a lot of the fracking in N/D and Montana has slowed down due to low oil prices. Fracking is not cheap and at low prices it is not worthwhile. However that just came form someone who lives there and had friends in the business, so it may be just local rumor. Things have definitely slowed down there though.
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Old 06-29-2017, 10:41 AM
 
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Quote:
Originally Posted by Coldjensens View Post
I was informed that a lot of the fracking in N/D and Montana has slowed down due to low oil prices. Fracking is not cheap and at low prices it is not worthwhile. However that just came form someone who lives there and had friends in the business, so it may be just local rumor. Things have definitely slowed down there though.
Things have slowed down but technology has improved and break-even point is much lower. Actually
business has picked quite nicely but good help is very hard to find.
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Old 06-29-2017, 10:44 AM
 
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Originally Posted by cdelena View Post
Keep in mind that many governments see this as an opportune time to raise fuel taxes. It won't stay cheap forever.
yep, NJ can thank its POS governor for sucking out to demoncrats and raising the fuel tax
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Old 06-29-2017, 10:45 AM
Status: "delete" (set 21 days ago)
 
3,189 posts, read 1,274,360 times
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Quote:
Originally Posted by Coldjensens View Post
I was informed that a lot of the fracking in N/D and Montana has slowed down due to low oil prices. Fracking is not cheap and at low prices it is not worthwhile. However that just came form someone who lives there and had friends in the business, so it may be just local rumor. Things have definitely slowed down there though.
One look at tight oil providers 10ks will verify that this is the truth, unfortunately. However, at least the technology has allowed producers to take oil out of the ground at a faster pace, but at an economic loss of course. As the poster above said, there is no viable replacement for petroleum, so isn't it just wonderful that we are stealing from the future, so we can drive our big ol SUVs today.

Doesn't change the fact that the EIA numbers say we only have 5 years of oil left at the current rate of consumption, unless of course this magical new technology can defy physics.
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Old 06-29-2017, 10:47 AM
 
1,205 posts, read 2,052,149 times
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Quote:
Originally Posted by Ruth4Truth View Post
Fracking is a sign of a culture desperate to keep an unsustainable way of life going to the bitter end. A culture in the helpless grip of corporate interests, that will resort to anything, including fouling its dwindling water supplies, to keep oil flowing.

Remember that, as you enjoy your cheap gas.
seems pretty sustainable to me. Might melt some snowflakes though
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