It's a Christmas miracle. Thank you OPEC for the present of gasoline under $2.00. Got some yesterday in Springfield for $1.91.
Happy Holidays from OPEC
- Thread starter Expect2Win
- Start date
Miller the left will never admit Sahara Palin was right about anything. Though she promotes it now, Fracking was not possible at the time she made those comments. Interesting how Big Oil was the demon from Hell when Republicans were in charge. Now Democrats see it as a winning position it's ok.
Wrong again.
The increased drilling increased supply. The worldwide economy is weakening and thus demand drops. If we weren't increasing production, OPEC would just cut production during this weaker demand and keep prices high. As is, OPEC would just be cutting their income and maintaining prices for US companies. OPEC has decided to make oil unprofitable for every oil company in the hope of reducing competition long run. Once the infrastructure is in place though, it will keep running. There will be slower growth in the industry for a while but the extra pocket money for consumers from lower gas prices will drive the economy fueling more demand for oil.
It has EVERYTHING to do with increased drilling.
Drill baby drill!
Yes, or more accurately the Saudis, who are the most powerful country in OPEC.
http://money.cnn.com/2014/12/22/news/economy/saudi-arabia-oil-production/
Fracking you use a liquid to fracture the rocks, not a drill. If it was traditional drilling they would call it such.
Posted from Rivals Mobile
http://money.cnn.com/2014/12/22/news/economy/saudi-arabia-oil-production/
Fracking you use a liquid to fracture the rocks, not a drill. If it was traditional drilling they would call it such.
Posted from Rivals Mobile
But it's not drilling. Drilling you use a drill bit to get down to the oil or gas. The reason Fracking is so good is because using a fluid you get break rocks that a drill bit couldn't. Sure you drill a bit, but it's certainly not drilling in the traditional sense.
Posted from Rivals Mobile
Posted from Rivals Mobile
Cow if they don't drill to where the fluid will get to the rocks with oil and gas in them the oil or gas ain't comin out where they want it to so get over it. They use fracking for water wells too but they drill and put a casing in the hole to bring the water up. Bottom line is, no drilling no fracking!
I'm not disputing that point. I'm saying that Fracking is not drilling in the traditional sense. Go up to any chemical or mechanical engineer and ask about drilling vs Fracking you're going to get two different explanations. You can get to far more difficult places using hydraulic fluid pressure than using a drill bit. The fluid and way you pressurize are completely foreign to traditional drilling. They're two separate things.
Posted from Rivals Mobile
Posted from Rivals Mobile
Yes, but it's given them the rationale to drill wells they wouldn't have drilled before and re-use old wells in a new manner to produce more oil.
The famous Palin phrase "drill baby drill" was referring to going after the oil WE have on OUR land. That referred to a lot more than traditional drilling. When you said "this has very little to do with increased drilling" you were saying it had very little to do with increased production.
Also, Iran and Saudi Arabia have equal say in OPEC. BOTH are founding members.
Also, Iran and Saudi Arabia have equal say in OPEC. BOTH are founding members.
First, Iran and Saudi Arabia do not have an equal say. That's ridiculous. Saudi Arabia has oil reserves of 260 billion barrels, Iran 137.6 billion barrels. More oil = more influence. Saudi Arabia sets the policy for OPEC. I guess you didn't read the article.
No, I think is said this has very little to do with increased drilling, not whatever it is you wanted me to say.
This post was edited on 12/23 5:20 PM by wcowherd
Your disenchantment is not with me but rather yourself. Look away from the mirror and you will find the peace you so desperately desire.
May "Peace be With You" in this time of crisis in your life...
PS...
Just kidding
Have a Merry Xmas All
This post was edited on 12/25 7:18 AM by Scout 4u
May "Peace be With You" in this time of crisis in your life...
PS...
Just kidding
Have a Merry Xmas All
This post was edited on 12/25 7:18 AM by Scout 4u
Oil under $50 a barrel.
Gas $1.69 in Springfield.
Congress passing the Keystone bill with bi-partisan support. The public supports it 70-30. Obama the moderate is going to veto it.
Gas $1.69 in Springfield.
Congress passing the Keystone bill with bi-partisan support. The public supports it 70-30. Obama the moderate is going to veto it.
My guess is obama wants to trade keystone passage for something green. We shall see what happens.
It seems Nebraska is going to force a new route for it no matter what congress says.
Gas in P.B. is down to $191. Last week at Fredericktown WalMart it was $1.80 and in Park Hills at the BP it was $1.70. Not sure why so much difference within 85 miles up and down 67 highway.
Gas in P.B. is down to $191. Last week at Fredericktown WalMart it was $1.80 and in Park Hills at the BP it was $1.70. Not sure why so much difference within 85 miles up and down 67 highway.
I think the Neb. SC threw it out.
Gas tax is the likely reaso for such a disparity.
Don't know how low it will go but I don't see it getting much below $1.50. The cost of production has to be at least $1 plus oil cost.
Gas tax is the likely reaso for such a disparity.
Don't know how low it will go but I don't see it getting much below $1.50. The cost of production has to be at least $1 plus oil cost.
Yu sound like my ignorant brother-in-law when he said, "mark it down we will never see $2.00 gas EVER again"
I've never said it wouldn't go below $2 and I didn't say it wouldn't go below $1.50. I have always said gas could get below $2 and stay there if we would drill.Originally posted by HannibalLector:
Yu sound like my ignorant brother-in-law when he said, "mark it down we will never see $2.00 gas EVER again"
When you add the cost of refinement, gas tax, oil to refine, and transportation, gas has to have a floor price. I don't know what that is but I would think $1.50 a gallon would be approaching it. It might be lower but I wouldn't think so.
The libs are the ones who always contended there was nothing that could be done to get low gas prices and drilling would have no effect.
$1.66 today.......
Drill baby drill.
http://www.eia.gov/petroleum/gasdiesel/ if you look at the graph at the bottom of the page and the historical data on the price of a gallon of gasoline http://www.eia.gov/petroleum/gasdiesel/gaspump_hist.cfm , it's tough to imagine gas sustaining a price under $1 for the reasons you mention.
In Missouri, we pay 17 cents of state tax and 18.4 cents of federal gas tax right off the bat. You're talking about lowering the cost of refining, production, transport, marketing, etc. down to under 65 cents. It's tough to get that low when the only variable cost is the cost of exploration and production.
In Missouri, we pay 17 cents of state tax and 18.4 cents of federal gas tax right off the bat. You're talking about lowering the cost of refining, production, transport, marketing, etc. down to under 65 cents. It's tough to get that low when the only variable cost is the cost of exploration and production.
Similar threads
