Your bigger picture might be right, but not because it's based on facts or details, given they were wrong.
He's not wrong, just off in a few areas. there is absolutely a price point where fracking is not economical, there's so many variables from site to site it's hard to make any sweeping declarations of what that price point is, around '15 or so a bunch of operators in Texas slowed down (esp. the Eagle Ford) and are now getting back on line the main problem with fracking output now is lack of labor, equipment and materials, rig cost has skyrocketed the most commonly quoted range for oil to stabilize at in the future is $55-75 the fracking boom does undercut OPEC's leverage in driving price new offshore tech has made those operations viable even at lower prices probably some other stuff I'm not thinking about right now Here's some basic articles I just found that outline a bunch of this in better detail: https://www.forbes.com/sites/jeffmc...-prices-around-55-goldman-sachs/#6049e461182d https://www.wsj.com/articles/the-new-texas-gold-rush-buying-sand-for-fracking-1505386800 https://www.bloomberg.com/news/arti...shale-drillers-are-confusing-u-s-oil-analysts
They have gotten very good at fracking even at 40 bucks they can get by. All the service companies prices have fallen so at 50 bucks I think the oil companies are happy.
I've never been to Oklahoma. I have however been to Lake Texoma I follow oil a lot more than politics. The price of oil and natural gas dictate a lot more of what's going on all over the world than an Alabama Senate seat. That's not to say I know everything about it. I don't know ish about Oklahoma. I do know their economy is tied to oil. Putin goes into The Ukraine so he can ship his natural gas. That's what's that about. Don't care about Russian meddling Edit: Senators matter in our personal lives. Domestic politics are important. I shouldn't have implied they aren't important.
Europe has to deal with Putin because that's their gas supplier. That's all any dumb ish over there is about
That's absolutely not true for all of the shale plays or even wells within the same square mile. Some are more expensive than others. If you've heard that rig cost in the Permian is no longer a concern, I'd love to hear about it.
KANSAS, Oklahoma .....next the entire country. Congress will have to raise taxes in the 5 years to fix the mess left by the giveaway to the rich The Republicans just passed.
I feel bad for people who live in Oklahoma. Fracking has really screwed up the state. It has caused them to have so many earthquakes.
Fracking has given America energy Independence and taken the power out of regimes we can't trust overseas Fracking has caused a power vacuum in the Middle East but that's a good thing long term. Stupid dictators now don't have endless cash to do stupid things. When I say oil and natural gas dictate a lot of world events here is another example that the sorry mainstream media misses. All the flood of middle East immigration to Europe is because that area doesn't have the same wealth. Rogue governments over there especially can no longer afford security, or they can no longer afford $50 billion homes while providing basic needs. When it comes to Putin and the middle East, the media doesn't connect the price of oil and gas to those issues as much as they should In the case of Putin, his power lies in his position as supplier to a lot of Europe. Natural gas being the main source of fuel for electricity production only becomes more important the more technology advances.
It was also the era of the Long Depression (1873-1879) and the rise of sharecropping to replace slave field labor.
Revisionist History to try and make a point is just lame. This Rose Color Boot Strap Glasses is just unreal that people believe it. Rocket River
If you libruhls think Oklahoma is so terrible, why do they have Patrick Patterson and no other state does?
What do you think is causing destabilization in the Middle East That place was nothing in the hundreds of years before oil. Just follow the dollar
Everything is back to normal in Oklahoma cause of this one day price I don't know what your issue is. But since you wanna rehash. The big picture is the change in the supply dynamic across the globe. Edit:. Let's make a stupid bet to see if it hits $75 again since you hung up on this stupid point
I’m just hung up on what ‘current level’ is since your definition of ‘current level’ hasn’t been at that price for 3+ months. So now you’re moving the goal posts. You said current level was $25-$55, yet you want to bet on $75? Let’s bet on $55+.
What's your issue with that post? I'm trying to make a point that the price of oil has disrupted a lot of areas besides Oklahoma Why would I need to calm the **** down. Was something offensive
