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monkeychops · 12-01-2016, 08:47 PM

RELAX......Ill bet real money gas wont go over $3 a gallon for a LONG LONG time.
OPEC is over......and OPEC knows it.
The USA has drilled and capped enough wells to become an net exporter of oil if the price rises past $75 a barrel.
welcome to the SHALE REVOLUTION...
we are loaded with oil if the price is right........why do you think the Saudis and OPEC opened up the pumps anyway??
They were trying to drive the shale drillers out of the market...It didn't work....They just drilled and capped the wells. .Some are still pumping...

The Energy Department predicts that U.S. production will fall from 9.4 million barrels a day in 2015 to 8.8 million this year and 8.7 million next year — the forecast assumed oil at $50 a barrel next year.
Research firm IHS Inc. estimates that if crude rises to $55, U.S. production will instead grow by about 500,000 barrels a day — offsetting nearly half of OPEC's stated cut.
Much of that production is expected to come from the Permian Basin in Texas, where prices for acquiring oilfield acreage have skyrocketed in recent months. There are now almost as many drilling rigs running in the Permian as in the rest of the country combined, including offshore.
"A few months ago rigs were being stacked on the side of roads," said Avi Mirman, CEO of Lilis Energy Inc., a small producer that operates in the Permian and the Rockies. "Today it's almost impossible to get a hot rig" with a crew.
Mirman is facing higher costs for materials used for hydraulic-fracturing or fracking, a technique to boost well production. The specialty firms that do the fracking have raised prices because "they are booked out through June or July. It's pretty wild."

So don't worry about it.
Besides Regan-Bush ruined the Russians with low oil prices....They collapsed the USSR with $18 a barrel OIL.
Is it a coincidence that just after Putin invaded Ukraine that crude prices dropped like a rock. NO because the Saudis opened up the pumps on orders of the Obama administration......why? because we own them..... have for decades.

So don't worry.....as long as putin is acting up....prices will be kept down.

They only rise in response to china....when the china economy starts growing at double digits again for an extended time frame....then look for the price to rise significantly to curb the growth in the china economy.
OIL is the weapon we use....been working for decades.

12-01-2016, 08:47 PM	#57
monkeychops Drives: 2016 V6 6 speed Join Date: Nov 2016 Location: IL Posts: 166	RELAX......Ill bet real money gas wont go over $3 a gallon for a LONG LONG time. OPEC is over......and OPEC knows it. The USA has drilled and capped enough wells to become an net exporter of oil if the price rises past $75 a barrel. welcome to the SHALE REVOLUTION... we are loaded with oil if the price is right........why do you think the Saudis and OPEC opened up the pumps anyway?? They were trying to drive the shale drillers out of the market...It didn't work....They just drilled and capped the wells. .Some are still pumping... The Energy Department predicts that U.S. production will fall from 9.4 million barrels a day in 2015 to 8.8 million this year and 8.7 million next year — the forecast assumed oil at $50 a barrel next year. Research firm IHS Inc. estimates that if crude rises to $55, U.S. production will instead grow by about 500,000 barrels a day — offsetting nearly half of OPEC's stated cut. Much of that production is expected to come from the Permian Basin in Texas, where prices for acquiring oilfield acreage have skyrocketed in recent months. There are now almost as many drilling rigs running in the Permian as in the rest of the country combined, including offshore. "A few months ago rigs were being stacked on the side of roads," said Avi Mirman, CEO of Lilis Energy Inc., a small producer that operates in the Permian and the Rockies. "Today it's almost impossible to get a hot rig" with a crew. Mirman is facing higher costs for materials used for hydraulic-fracturing or fracking, a technique to boost well production. The specialty firms that do the fracking have raised prices because "they are booked out through June or July. It's pretty wild." So don't worry about it. Besides Regan-Bush ruined the Russians with low oil prices....They collapsed the USSR with $18 a barrel OIL. Is it a coincidence that just after Putin invaded Ukraine that crude prices dropped like a rock. NO because the Saudis opened up the pumps on orders of the Obama administration......why? because we own them..... have for decades. So don't worry.....as long as putin is acting up....prices will be kept down. They only rise in response to china....when the china economy starts growing at double digits again for an extended time frame....then look for the price to rise significantly to curb the growth in the china economy. OIL is the weapon we use....been working for decades.