Oil trading in the $70's

[Sgt Beavis]

The Bottom dollar for us to keep everyone happy is the mid 80's. I am on a ultra deepwater semi sub so costs are much higher to operate.

Yea, from what I've heard, that's about right...

[bcoop]

I know a guy in West TX that owns a bunch of oil wells, and has more money than God. It's been many years since he said this, but he said at $30/barrell is when he really starts making money.

[78X]

south texas has a lower threshold, north dakota has a higher one

[FATHERFORD]

The Bottom dollar for us to keep everyone happy is the mid 80's. I am on a ultra deepwater semi sub so costs are much higher to operate.

Depends on how much oil the rigs can pull in also.

[Captain Crawfish]

85 is where it needs to be to support OPEC economies

[4eyedwillie]

It's amazing to me how gas prices haven't come down. Last time oil was at 70 a barrel we were paying low $2 range for a gallon of gas! They sure aren't shy about raising the price when oil goes up just alittle! BUT no oil companys aren't price gouging! Yeah right!

[91cavgt]

It's amazing to me how gas prices haven't come down. Last time oil was at 70 a barrel we were paying low $2 range for a gallon of gas! They sure aren't shy about raising the price when oil goes up just alittle! BUT no oil companys aren't price gouging! Yeah right!

The US government makes more per gallon off of taxes than oil companies make on profit per gallon. Who is gouging who?

[mustangguy289]

The US government makes more per gallon off of taxes than oil companies make on profit per gallon. Who is gouging who?

This taxes don't fluctuate as much or as quickly as oil.

[runin90lx]

not sure..but i know i could use a few days off work!!! im going on a month and half straight with no days off..shits getting old! lol

[Captain Crawfish]

It's amazing to me how gas prices haven't come down. Last time oil was at 70 a barrel we were paying low $2 range for a gallon of gas! They sure aren't shy about raising the price when oil goes up just alittle! BUT no oil companys aren't price gouging! Yeah right!

your forgetting about future exploration and production. oil companies need the profits to continue to explore and produce oil out of the ground. the cost of extracting oil and refining it is not going down

[Strychnine]

It's amazing to me how gas prices haven't come down. Last time oil was at 70 a barrel we were paying low $2 range for a gallon of gas! They sure aren't shy about raising the price when oil goes up just alittle! BUT no oil companys aren't price gouging! Yeah right!

http://www.exxonmobilperspectives.com/2011/04/28/exxonmobil-earnings-the-real-story-you-wont-hear-in-washington/

[4eyedwillie]

Thats what the GUBMENT gives them all that money for! That and any other business would kick in some of their over 50 BILLION in profit and not try so hard to wreck our economy.


EDIT opps sorry! 100 billion! Exxons tax bill was 30 billion so profit was probably around 100 BILLION!

[4eyedwillie]

http://www.exxonmobilperspectives.co...in-washington/

Yeah like I care about what their spin doctors say to try and make it all nice nice!

[4eyedwillie]

Also that 100 Billion was make AFTER writing off everything possible for exploring for new oil and such! So HELL YEAH they're gouging the living F*CK out of us! 10-20 BIllion on a company the size of exxon sure! BUT 5-10 times that??????

[03mustangdude]

put your tin foil hat back on, not everything is a conspiracy to make a lot of money.