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Old 05-06-2011, 06:09 PM
 
Location: The Republic of Texas
78,883 posts, read 42,355,969 times
Reputation: 18467

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Yelling oil independence. Drill here, drill here. A barrel of oil is too high!


Who realizes, when a barrel of oil goes down in price to a certain point, it becomes unprofitable to drill here in the high regulated nation, we call the USA.

I have property in Gonzales county, that the oil pumps have sat dormant and rusted up, for 22 years. It has now become profitable for them to come back and offer to lease my land for the oil.

If a barrel goes down below $50 a barrel, it will halt all exploration, drilling and most pumping here in the South Texas area.

There is that sweet spot.

Oil Independence will never happen, when it is a traded world market.
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Old 05-06-2011, 06:11 PM
YAZ
 
Location: Phoenix,AZ
7,275 posts, read 12,979,838 times
Reputation: 6605
Not to mention that the price of oil is traded in U.S. dollars.....

Hmmmm.

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Old 05-06-2011, 06:14 PM
 
9,849 posts, read 7,773,071 times
Reputation: 3292
Quote:
Originally Posted by BentBow View Post
Yelling oil independence. Drill here, drill here. A barrel of oil is too high!


Who realizes, when a barrel of oil goes down in price to a certain point, it becomes unprofitable to drill here in the high regulated nation, we call the USA.

I have property in Gonzales county, that the oil pumps have sat dormant and rusted up, for 22 years. It has now become profitable for them to come back and offer to lease my land for the oil.

If a barrel goes down below $50 a barrel, it will halt all exploration, drilling and most pumping here in the South Texas area.

There is that sweet spot.

Oil Independence will never happen, when it is a traded world market.
Wrong headed thinking. Notice we never drill and we get stuck every time.

How about the deposits of natural gas just discovered that we could use for 200 years. They say that would cost us 50 cents a gallon. Yippee!
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Old 05-06-2011, 08:45 PM
 
29,984 posts, read 40,629,239 times
Reputation: 12802
Quote:
Originally Posted by YAZ View Post
Not to mention that the price of oil is traded in U.S. dollars.....

Hmmmm.

For the meanwhile. If China and the IMF get their way it won't be traded in US dollars after 2016.
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Old 05-06-2011, 08:58 PM
 
Location: The Republic of Texas
78,883 posts, read 42,355,969 times
Reputation: 18467
Quote:
Originally Posted by RCCCB View Post
Wrong headed thinking. Notice we never drill and we get stuck every time.

How about the deposits of natural gas just discovered that we could use for 200 years. They say that would cost us 50 cents a gallon. Yippee!

Who is we?

The oil companies are not going to pump at a loss.

What is a gallon in cubic feet?
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