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Joined: May 2014
Posts: 10,505 Likes: 14
Campfire Outfitter
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Campfire Outfitter
Joined: May 2014
Posts: 10,505 Likes: 14 |
Drilling = good thing and lower prices
I prefer classic. Semper Fi I used to run with the hare. Now I'm envious of the tortoise and I do my own stunts but rarely intentionally
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Joined: Aug 2003
Posts: 1,924
Campfire Regular
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Campfire Regular
Joined: Aug 2003
Posts: 1,924 |
Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject. Very simple: Supply and demand. If there's more supply and demand stays the same, prices will decline. Oil is a fungible world commodity and the more there is on the world market, the lower the price will be assuming demand stays the same. In a free market, no one "controls" the price. It's willing buyer/willing seller.
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Joined: Dec 2005
Posts: 40,179
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2005
Posts: 40,179 |
Son of a liberal: " What did you do in the War On Terror, Daddy?"
Liberal father: " I fought the Americans, along with all the other liberals."
MOLON LABE
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Joined: May 2003
Posts: 23,099 Likes: 13
Campfire Ranger
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Campfire Ranger
Joined: May 2003
Posts: 23,099 Likes: 13 |
GunGeek: "I", think drilling (and fracking!) domestically "really" lowers the price of oil/gas! Apparently you are ignorant enough to think it doesn't??? Get yo'head out'a yo'ass boy! Pay a little more attention to what has happened to the price of oil/gas in the last year and you won't be asking such stupid questions. Sheesh! Hold into the wind VarmintGuy
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Joined: Feb 2004
Posts: 5,688
Campfire Tracker
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Campfire Tracker
Joined: Feb 2004
Posts: 5,688 |
Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject. It has already done so. Why do the think you the price has fallen so much? It is because America is becoming a major producer of Oil. The Saudis (who can produce oil and drill cheaper than we can) are showing US they are still the boss. All we have to do is play along and lower our production and Oil will go back up in price. Until we do the Saudis will continue to overproduce and keep the price cheaper than is economical for US to drill these Shale plays. They will actually recapture some of the market share they have lost because we can't drill at much lower prices. Jim
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Joined: Mar 2004
Posts: 12,807
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2004
Posts: 12,807 |
Remember guys, this was Gungeek's assertion back in 2011. We are now seeing the results of "Drill, baby, drill".
Islam is a terrorist organization.
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Joined: Mar 2008
Posts: 18,994
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 18,994 |
Man, I'm glad we had more drilling. Yeah, that Sarah was totally wrong. Yeah, I kept trying to tell you guys...
Leo of the Land of Dyr
NRA FOR LIFE
I MISS SARAH
“In Trump We Trust.” Right????
SOMEBODY please tell TRH that Netanyahu NEVER said "Once we squeeze all we can out of the United States, it can dry up and blow away."
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Joined: Jan 2002
Posts: 10,612 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 10,612 Likes: 1 |
Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject. We already have proof. When the supply of oil is reduced the price increases. Like when OPEC lowers production. When the supply is increased the price goes down. Like it is doing now.
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Joined: Nov 2002
Posts: 33,822 Likes: 15
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,822 Likes: 15 |
I always learn a bunch from these threads.
Conduct is the best proof of character.
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Joined: Oct 2008
Posts: 5,312
Campfire Tracker
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Campfire Tracker
Joined: Oct 2008
Posts: 5,312 |
I paid as high as $3.84 last summer for premium, I filled up yesterday at $2.79. Something is different.
.... like tears in the rain
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Joined: Feb 2002
Posts: 32,044
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2002
Posts: 32,044 |
Supply and Demand is what controls the market and price, not where it is drilled. Drilling here just lower our dependent on Middle Eastern Oil
A Doe walks out of the woods today and says, that is the last time I'm going to do that for Two Bucks.
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Joined: Nov 2007
Posts: 47,270 Likes: 13
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2007
Posts: 47,270 Likes: 13 |
i paid 3:08 for diesel this morning.
God bless Texas----------------------- Old 300 I will remain what i am until the day I die- A HUNTER......Sitting Bull Its not how you pick the booger.. but where you put it !! Roger V Hunter
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Joined: Jan 2008
Posts: 1,456
Campfire Regular
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Campfire Regular
Joined: Jan 2008
Posts: 1,456 |
Supply will be curtailed by lower world oil price but a reduction in drilling from the Eagle Ford will probably not be part of it.
According to a Citi Bank report Eagle Ford east and west are both producable down to about $40/barrel. The Canadian tar sands and some of the Permian stop being econimical to drill at $50 or so. Supply will be reduced eventually and the market balanced.
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Joined: Aug 2004
Posts: 28,265 Likes: 3
Campfire Ranger
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Campfire Ranger
Joined: Aug 2004
Posts: 28,265 Likes: 3 |
Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject. Well, maybe a better question; what is driving oil prices to $50 a barrel?
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Joined: Oct 2013
Posts: 8,490
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2013
Posts: 8,490 |
Well, maybe a better question; what is driving oil prices to $50 a barrel?
The threat of $45:00 a barrel oil....
Writing here is Prohibited by the authorities.
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Joined: Oct 2004
Posts: 24,675 Likes: 1
Campfire Ranger
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OP
Campfire Ranger
Joined: Oct 2004
Posts: 24,675 Likes: 1 |
Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject. Well, maybe a better question; what is driving oil prices to $50 a barrel? Mostly worldwide demand is way down but production is way up. And it's not just US produciton, it's mostly OPEC. Saudi Arabia just can't resist this opportunity because they're unlikely to have it again. With oil under $80.00 per barrel, they can seriously screw the US fracking industry because every barrel that's fracked at these prices is a big money loser for US oil companies. At some point, they'll have to shut it down because this isn't sustainable. Meanwhile, low oil prices means Iran is getting royally screwed also. So oil prices will fall and stay under $80.00 per barrel for at least a year, mark my word. This isn't exactly a "real" market, it's artificially low for a very specific purpose.
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Joined: Jan 2001
Posts: 21,317
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 21,317 |
Too funny, you can't admit you were wrong.
There is no such thing as a fake market, one of silliest things I've heard. There are a variety of forces that drive the world oil market, sometimes those forces drive prices up, sometimes they drive them down. But those forces, the market, and the price at the pump are all very real.
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Joined: Jan 2003
Posts: 5,202
Campfire Tracker
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Campfire Tracker
Joined: Jan 2003
Posts: 5,202 |
With oil under $80.00 per barrel, they can seriously screw the US fracking industry because every barrel that's fracked at these prices is a big money loser for US oil companies. At some point, they'll have to shut it down because this isn't sustainable. Most fracking is done to extract the Natural Gas. The oil itself is a "by-product", and not really the reason for drilling and fracking Claiming the market is "false" is, well, FALSE
One shot, one kill........ It saves a lot of ammo!
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Joined: Mar 2010
Posts: 1,810
Campfire Regular
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Campfire Regular
Joined: Mar 2010
Posts: 1,810 |
Most fracking in North Dakota is for oil.They are still trying to get the natural gas used up.ED K
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Joined: Sep 2009
Posts: 46,294 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Sep 2009
Posts: 46,294 Likes: 6 |
UHHH, not me, the greed of man will see to that.
Trump Won!
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