And there was much rejoicing in the land.... Gas Prices

[Mike]

10 more minutes...

Dun dun dunnnnnnn

[Strychnine]

Rig count just released.

Down 74.

Damn I was close.

1676 total now.

My guess is -75.

[Ruffdaddy]

Mad props yo. I'm not even gonna check that report anymore.

[Strychnine]

Mad props yo. I'm not even gonna check that report anymore.

Lol I had that thought too. I stopped checking oil prices throughout the day.

[cobrajet69]

Weir spm.
Theyve gotfrac pumps stacked up now.

Yeah, I assumed it was them. They do this every time in a down market. Sux for all those affected.



David

[Strychnine]

EIA's latest Short Term Energy Outlook (updated this week) now includes 2016 predictions.

West Texas Intimidate is expected to average $54.58 in 2015 but finally gain ground in 2016 with an average of $71.
In comparison for 2015 and 2016 Brent crude oil is forecasted to average $57.58 and $75 respectively.

[Ruffdaddy]

Lol I had that thought too. I stopped checking oil prices throughout the day.

Lol I was thinking more along the lines of your prediction being good enough to not need the report. But I also agree it's bad to look because it's just going to be saddness.

And I hate to say it...but there were just a shit ton of rigs out there. Hopefully gas pulls us through next year if oil is really going to hurt that bad.

[fordracing19]

Here's the thing though. Oil is super high and they get fat. Meanwhile, other industries that depend on more disposable income decline. People eat out less, so restaurant businesses go down. People like Brent who sell restaurant equipment see a slow down. Furniture, housing starts, etc. go down. Transportation costs go up, so goods cost more at the store. It goes on and on.

The problem is when O&G is either at the bottom of the trough or at the peak. That's when one side or the other suffers. We need it to stabilize somewhere with a happy median where O&G can make a good profit and support many jobs and yet consumers can have a little extra disposable income and the perception of having much more.

Being in the restaurant business in our area you are wrong. We have tons of o&g workers daily and all the oil field wives. We are seeing a decline.

[Cooter]

Being in the restaurant business in our area you are wrong. We have tons of o&g workers daily and all the oil field wives. We are seeing a decline.

people don't realize how the oil field permeates the entire economy here in TX...

I'm watching used truck values dip despite the fact that they're damn near giving away fuel. Thankfully I sold the three trucks I was aiming to sell in a reasonable amount of time and for the money I wanted.

I'm just laying back right now waiting for killer deals to fall in my lap. Seems like everybody I know who is still going 90mph shopping for inventory is watching that inventory depreciate. Not plummet, mind you, but depreciate quicker than we've been used to over the past few years

[juiceweezl]

Being in the restaurant business in our area you are wrong. We have tons of o&g workers daily and all the oil field wives. We are seeing a decline.

I think you've missed the point of my post. If you're restaurant business depends on the O&G business, then you're going to thrive or suffer as they do. For everyone else, they'll do the opposite.

[CexMashean]

$1.63 on the way to work today!!!!! LOVE IT!

[Craizie]

I can't wait for these nigger rich O&G people to start selling their raptors for cheap.

[CexMashean]

I can't wait for these nigger rich O&G people to start selling their raptors for cheap.

Are you insinuating there was wasteful spending in the O&G industry?

[Craizie]

Are you insinuating there was wasteful spending in the O&G industry?

I thought I was being pretty clear about it.

[Sean88gt]

Are you insinuating there was wasteful spending in the O&G industry?

I'd like to find the guy that passed me in his lifted F-450 with a sticker that said "oil field trash spending Dat oil field cash" and see if his stance has changed.