Are low crude oil and gasoline prices good or bad? (Barack Hussein Obama, dollars)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This chart clearly shows that Saudi Arabia has in fact ramped up production throughout the price drop.
That's not what I said.
Quote:
Are end users willing to pay the amount needed to make drilling oil in the US profitable for those who do the drilling? Most experts agree that a $65-$70 a barrel price would make drilling worthwhile in the US, it would obviously lead to an increase in the price at the pump but it wouldn't be nearly as bad as it once had been. I'm all for a stable market, but I'm also for utilizing our own resources instead of supporting Saudi Arabia.
It's going to be impossible for stable oil as long as it's being used as a wealth vehicle for Wall Street.
Not voting as one of the options that needs to be included is not. Low, low crude prices are one of the big reasons the stock market has performed so poorly in the last 15 months. Definitely helps the stretched folks,especially if they drive a lot. I don't, so that positive effect is minimal.
The Saudi's aren't producing more oil now than when it was $140 a barrel.
That's simply not true. Per the graph the only time Saudi oil output was as high as it was this summer (when prices were falling still) was in August 2013. The price of oil in August 2013 was $110 a barrel. The Saudi's have produced more oil now than when it was $140 a barrel. I proved this with that chart. They ramped up production when the price fell. When oil was first hitting $140 a barrel they ramped up production to be in the high side of the 9 million. This summer they were over 10 million barrels a month.
Solely from the perspective of you as a consumer, you shouldn't. But as shocking as this may sound, everything is not all about you.
There are millions of people that are employed in this industry and the extremely fast decline in prices has been engineered by the Saudis to wipe out a substantial segment of this industry all so that the Saudis can have more control over it. These kinds of rapid and extreme swings in oil prices are extremely disruptive and harmful to many people. And that is a bad thing, even if it is not directly impactful on you personally.
But it is all about me because I'm buying my gas.
Notice how you're now a raving socialist now that an industry that's near and dear to your heart is getting the short end. Now it's all about the good of us all! Yeah, forget about your own pocketbook...but of course, let YOUR taxes go up or force you to pay for something that you don't like and it'll be all about YOU real fast!
It's funny how when prices were extremely high, folks like yourself didn't see any instability and chalked it up to supply and demand and the "free market" at work.
But now that the price is extremely low, the prices are "unstable" and "disruptive"....and we've gotta do something about it.
Sorry, but it's a boom/bust business. No job is guarantees. Oilfield workers made far more than what their skill sets normally fetch in the private sector workforce, and hopefully they saved. They knew that it would bust eventually, and they had a damn good run. Far better than most Americans.
No man, I'm not feeling the stuff you're saying at all. I like cheap gas and I want it for as long as I can get it.
I don't see any reason why I should care about where my fuel comes from. The American oil companies didn't give me a dime during the boom, and they certainly didn't give me any discounts on a single gallon of gas.
I don't see any reason why I should care about where my fuel comes from. The American oil companies didn't give me a dime during the boom, and they certainly didn't give me any discounts on a single gallon of gas.
That's all anyone should care about.
This is true. Lower prices for products is always a good thing. The source of those lower priced products is immaterial.
I think US shale and Canadian tar sand production should be thought of as a secondary source of oil, to be kept in reserve for when demand is strong, or saved for wartime reserves or in case a natural disaster/conflict knocks production offline somewhere else in the world. North America does not have enough oil to meet internal demand, should supplies ever be cut off from the middle east.
Also looking at it from an environmental perspective, shale and tar sand oil is "dirty" oil. It takes considerably more energy to extract it, and is more expensive to extract. The figures vary depending on the method of extraction, but I've heard figures tossed out there on Canadian tar sand for example, that for each gallon of oil extracted, it consumes one gallon of oil energy to get it out of the ground and process it. This is a double CO2 hit on the environment, for each unit produced. Fracking has other problems as well that have been downplayed or ignored, such as those reports of gas getting into the local water supply and coming out of the tap.... as fire water, lol. And speaking of water, a lot of water is consumed in the fracking process, which is another disadvantage that can limit where and when it can be used. Another problem with shale oil, a pipeline network needs to be built to get it to market, and until that happens, energy is being wasted in the process of transporting it by rail to the refineries. I don't think Keystone is worth building at the moment with the market the way it is, US and Canadian fracking companies may be bankrupt by the end of the year.
Who has the cleanest oil extraction methods? Saudi Arabia, they can just about poke a straw in the ground and suck it out with a vacuum cleaner, this is why they have the lowest cost of production, it takes the least amount of energy to extract oil in SA, than anywhere in the world. Why not use their oil first, and save our North American Oil for when it is urgently needed?
I think we should knock out ISIS oil production in Syria, as a beginning effort to stabilize oil prices, and because they use oil revenue to fund terrorism. Bomb the hell out of those oil fields, it might notch up oil prices 5 bucks a barrel and help to stabilize the market.
With oil so low why are gas prices here still over $2 a gallon? Should be about 40 cents a gallon and the oil companies and our Arab Sheiks would still make billions. Lower gas prices means more spending money for consumers.
Not even close to be $.40 but if you are paying $2.00 you are being robbed as we are now in the $1.50 range.
Location: planet octupulous is nearing earths atmosphere
13,621 posts, read 12,755,789 times
Reputation: 20050
Quote:
Originally Posted by T-310
The Saudis and OPEC have amped up their production to drive fracking into bankruptcy.
I say stop all oil imports, rely on North American oil that keeps the wells pumping and the jobs safe and tell the Saudis to go eff a camel.
the world should burn Saudi's Arabia's and the middle east oil first, and when they run out go tell them to pound camels..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
