JT_Gibbs
UKC Forum Member
Registered: Feb 2014
Location:
Posts: 129 |
Sir, bless your heart and I mean no disrespect but that's HOGWASH. (Kind-of-like hunting a Redbone)
You can have your own opinion but not your own facts. Please read up and start with James Norman book, The Oil Card.
Brian Domitrovic contributor for Forbes wrote:
The trick now, as before, would be to have fiscal policy let the real economy run by means of commitments to get taxes—and regulations—scaled back, while in concert the Fed could concentrate not on hammering unemployment down but making sure people trust the dollar.
In other words, “drill, baby, drill,” isn’t even the answer. Our crisis now, as it was in the 1970s, is not an energy crisis, but a dollar-hedge crisis. You attack that—and most successfully—by making it a profitable and sound thing to save and invest dollars in the real economy.
Expensive energy is the product a leading nation with intrusive and overburdened tax, regulatory, and currency policies. Cheap energy is the mark of a leading nation with its fiscal and monetary priorities straight.
So, let me understand your FACTs, Oil companies are producing more oil so they can lose money? Hahahaha
Late Monday morning, both benchmarks hit new six-year lows. WTI oil prices dipped as much as 5.1% to $45.90 a barrel. Brent oil prices were even more volatile, dropping 5.9% to $47.18 a barrel.
The long-suffering energy sector caused widespread losses in U.S. markets.
Alistair Winter, chief economist at the global investment bank, Daniel Stewart & Co, said: “I can see it [Brent Crude] go below $40, perhaps down to as little as $20. Marginal fields, often run by smaller companies, need around $60 a barrel for viability. But markets will already be “shorting” petroleum prices [betting on prices falling further to make profit] - and that points to bad news ahead.
Article from October:
The Permian, where U.S. drilling activity is heaviest, will be profitable for companies to drill at U.S. oil prices of $57 to $75 a barrel, depending on location, according to research from Robert W. Baird & Co. As a result, companies active there, such as Chevron Corp. , Apache Corp. and Pioneer Natural Resources Co. , are likely to keep drilling.
Marianne Kah, chief economist of ConocoPhillips, said oil prices would need to fall to $50 a barrel “if you wanted to completely halt production” of U.S. shale oil. (Nov. 5, 2014)
I will give you one guess where oil is today.
As for "NO FRACKING" Read this:
http://www.usatoday.com/story/money...acking/5726603/
HAHAHAHAHAHA
Report this post to a moderator | IP: Logged
|
01-08-2015 12:21 PM
