$100 A Barrel Oil is on the Way

[Ernest T. Vol]

Dumb unions. Hey let's strike when they don't really need us. :loco:

U.S. workers strike for second day at nine refineries; one to shut | Reuters

Horse laugh'em out of the room.

 

[alexmanu]

Oil going down in price should be good for the consumer and may also force energy companies to finally invest in renewable alternatives that they could patent and monetize.

 

[VolsNSkinsFan]

Oil at $50 and NatGas at $2 is a disaster for green energy.

 

[SpaceCoastVol]

Oil going down in price should be good for the consumer and may also force energy companies to finally invest in renewable alternatives that they could patent and monetize.

Oil will go back up. eventually. What they should be investing in is upgraded facilities... take the losses going forward for when they are making better profits.

 

[Velo Vol]

Obama's latest scheme to undermine the U.S. economy: cheap oil

So far cheap oil hurting economy more than it’s helping

Cheaper gasoline was supposed to turbocharge the U.S. economy, but so far it’s brought almost nothing but grief.

The nation’s rate of economic growth came to a standstill in the first three months of 2015, rising a measly 0.2% after gains of 2.2%, 5% and 4.6% in the prior three quarters. And a big culprit was the 50%-plus plunge in petroleum prices from last July through January.

Staring at the collapse in oil prices, U.S. energy producers have pulled the plug on investment and cut thousands of jobs, government data show.

 

[hog88]

Obama's latest scheme to undermine the U.S. economy: cheap oil

So far cheap oil hurting economy more than it’s helping

Shows just where the growth was and that this economy has been a sham.

 

[VolsNSkinsFan]

Shows just where the growth was and that this economy has been a sham.

Fracking brought great jobs & fat Royalty & Lease checks to millions of Americans

 

[Biopsyman]

Don't be suprise if 100 dollar oil will be here in 1 year

 

[hog88]

Don't be suprise if 100 dollar oil will be here in 1 year

Middle of 2017. It will take that long to burn up the inventory.

 

[orangeluvr]

It"s Obama's fault !

 

[hog88]

It"s Obama's fault !

No it's Bush's fault, come on!

 

[VolsNSkinsFan]

Looks like Oil has bottomed and wants to break out. It's up 1.5% today & at $59 a barrel. Definitely a rotation out of biotechs and into energy

 

[Velo Vol]

This settles it.

Let Allah decide oil price - Saudi oil minister

 

[Biopsyman]

Stop producing.. Price goes up.

 

[TennFan]

Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.

 

[Biopsyman]

Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.

We don't need keystone.. Lol

 

[VolsNSkinsFan]

We don't need keystone.. Lol

Naw. Oil trains are much safer

 

[508mikey]

Prices have been around $50-$60 and gas has been anywhere from $1.90 to $2.25 (higher in some places). Now with the prices of oil going up again to possibly $100 a barrell, we may see gas prices from $2.80 - $3.20 a gallon by Memorial Day and not see it fall until after Labor Day.

its already 2.54 in Illinois -- who/what is responsible for the barrel prices going up this time ?

 

[Velo Vol]

What's going on here? Is it something more than oversupply?

Oil tumbles more than 7% to $50.42, now down more than 30% in 7 weeks

 

[tumscalcium]

What's going on here? Is it something more than oversupply?

Oil tumbles more than 7% to $50.42, now down more than 30% in 7 weeks

Saudi got called killing a dude Texas Chainsaw Massacre-Style...

Are we seeing this at the pump? Haven’t really noticed.

 

[NorthDallas40]

The CEO of Shell said in a presentation I attended that they were confident that they would develop 40-60 dollar a barrel oil from oil shale. We'll see.....

I’d say post 12 from October 2007 has something to do with it.

Your domestic oil producers from the Permian Basin say hello and wishes everybody a happy holiday season!

 

[Velo Vol]

Are we seeing this at the pump? Haven’t really noticed.

Down ~40 cents during the period.

Your domestic oil producers from the Permian Basin say hello and wishes everybody a happy holiday season!

That doesn't explain a 30% decline since October.

 

[NorthDallas40]

Down ~40 cents during the period.

That doesn't explain a 30% decline since October.

Yes it does.

The US is back to being the number 1 oil producer in the world again. The restrictions have been removed allowing us to export oil again. In October the US set a record of 11.7 million barrels of oil produced in a day and it’s gone up from there I think. This is all enabled by hydraulic fracking in the shale oil boom. US oil production has doubled in the last 8 years (look at the date stamp of the post I quoted)

You’re assuming the price was correct before. Based on the new supply/demand economics I’d submit it was over priced in the first place.

 

[NorthDallas40]

I remembered reading due to hydraulic fracking recent improvements the break even cost on US production has decreased dramatically. So I looked up the curve.

Oil was over priced. I’d say it’s correcting. Probably undershot a tad but 60 a barrel a sweet spot for US production.

 

[Velo Vol]

The US is back to being the number 1 oil producer in the world again. The restrictions have been removed allowing us to export oil again. In October the US set a record of 11.7 million barrels of oil produced in a day and it’s gone up from there I think. This is all enabled by hydraulic fracking in the shale oil boom. US oil production has doubled in the last 8 years (look at the date stamp of the post I quoted)

This was all well-known when the price was 30% higher. Old news for a market that is forward-looking.