Gas prices

[Captain Crawfish]

Low oil/fuel prices do have a positive impact on the economy but they will also have a negative impact on the Texas economy. One of the biggest reasons we've done as well as we have since 2008 is because of the oil and gas boom. When oil hits $80 we will see almost all fracking production come to a halt. That will have a negative impact on us all...

In the long term I think $80-90 is a reasonable price. It will be good to get all the speculators out of the market. It is just unfortunate that we can't get our politicians to do something to keep speculators reigned in so they won't drive prices up like they have. IMO all they have to do is tell them they have to take delivery of their contracts. That would pretty much kill it dead.

There is nothing wrong with buying selling oil. As you see it works both ways they can drive it up or down. Govt has no biz ness meddling in oil trading

[Captain Crawfish]

Was the global economy shit when gas was $1-2 per gallon?

In January 09 our economy was in terrible shape. Fuel was cheap but you only needed it if you had a job

[87t-coupe]

This is not to say that every well is unconventional, but it gives an idea of break-even numbers (last fall).



But remember that the margin also has to pay for exploratory drilling and other things. Not all wells make money.


Other sources say this:






Not US, but some visibility:

http://www.petroleum-economist.com/A...rice-fall.html

We drill into the niobrara and a formation called the cordell basin here in Colorado. From what my driller has told us is if the price per barrel drops below $70 we are out of a job. I love to see cheaper gas but now that im in this industry it scares me.

[ram57ta]

Filled up the Grand National in Duncanville earlier tonight with Super Unleaded...for $2.99/gal. Regular was $2.79 a gallon. It can keep going down.

[Strychnine]

WTI is at $81.84 today.

[Strychnine]

We drill into the niobrara and a formation called the cordell basin here in Colorado. From what my driller has told us is if the price per barrel drops below $70 we are out of a job. I love to see cheaper gas but now that im in this industry it scares me.

Yeah people are definitely more aware right now, but the status quo hasn't changed yet. Rig count is still at 1930.

This was taken today in tx.

[87t-coupe]

No doubt rig count is still up. Just the company company I work for Ensign has 5 rigs in a 5 mile radius. And countless ones around the state, and in California, the Dakotas, and Utah. Time will tell though, we are one of the tip companies in the states and the fastest producing Ensign rig in Colorado so we at least have thay going for us.

[TRAILBLAZER]

http://money.cnn.com/2014/10/15/investing/oil-price-fall-russia-hurt/index.html?hpt=hp_t2

[Captain Crawfish]

2.55-2.60 in dec enjoy

[TexasDevilDog]

I got it for $2.92 yesterday.

[Baron Von Crowder]

I got it for $2.92 yesterday.

[Big Dad]

[03mustangdude]

costco had it for 2.84 an hour ago didn't need to fill up though.

[Sgt Beavis]

There is nothing wrong with buying selling oil. As you see it works both ways they can drive it up or down. Govt has no biz ness meddling in oil trading

It is absolutely their job when there is blatant market manipulation as there has been for more than 10 years now. This is the first time in a VERY long time that energy prices have started to follow actual market forces.

I can totally understand you making a statement like that though. Our government has been pretty much crap for quite a while now. If they got their hands into something, they'll screw it up. I'm speaking from terms of a hypothetical government that actually does its job... of course that is a fantasy right now..

[Juiced4v]

2.87 in mansfield...Gonig to use my kroger points to fill up today. Should be a good .30 cents off.