Fantasy Football - Footballguys Forums
This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!
$25 oil on the horizon? (1 Viewer)
- Thread starter [icon]
- Start date
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
msommer
Footballguy
Saying it again and again won't make it true.
The growth in production over the past years was not in Saudi Arabia
Last edited by a moderator:
PIK95
Footballguy
There is growth everywhere it seems. They just have the most to lose imo and will play chicken if they have to.
John Bender
Footballguy
#### off icon 
j/k on the #### off part
j/k on the #### off part
PIK95
Footballguy
Ah!#### off icon
j/k on the #### off part
jonessed
Footballguy
The growth is largely in the US, but the Saudis have the greatest influence on price because of their capacity, low extraction costs, and financial flexibility.
Last edited by a moderator:
BigSteelThrill
Footballguy
skycriesmary
Climbing up the Walls
I wrote a paper about this for my Economics class. Pretty much, oil is going to get so low that many companies globally will go bankrupt, right?
Millions of dollars out of the economy, unpaid debt, and many loss of jobs. Widespread, fear gets high, blah, blah. Since these companies went bankrupt, there's less supply globally and the cost of has steadily goes bank up.
Point being, unless a competitor bows out, oil is going to continue to go down and be a complete bloodbath. Unless, war...
Millions of dollars out of the economy, unpaid debt, and many loss of jobs. Widespread, fear gets high, blah, blah. Since these companies went bankrupt, there's less supply globally and the cost of has steadily goes bank up.
Point being, unless a competitor bows out, oil is going to continue to go down and be a complete bloodbath. Unless, war...
Homer J Simpson
I don't push
Time to buy oil futures, guys.
NutterButter
Footballguy
Didn't Otis start a thread on this back when it dropped to 60
dickey moe
Fingerpicker
beer 30
Footballguy
I work in an industry (rental equipment) that has been hit pretty hard by the down turn and while we've mitigated it fairly well our industry leader take a gut shot from their investment in the field (does not at all break my heart btw). What we see is a flat line right now for the industry (no new work, no shut downs, just flat). At this point we'd take that for a while but I can't believe it's a sustainable model meaning at some point demand will outstrip production again and prices will begin to rise again. Whether that happens next year, 2 years or further down the road it will happen. The upside is with the meteoric rise of directional drilling and shale exploitation a significant investment was made in infrastructure. One of the biggest problems with domestic oil production is getting it from point A to point B. A lot of that has been taken care of or at least worked out to make it more palatable than it was when the oil boom started 3-4 years ago. This bodes well for the eventual rise in production again.
It's a marathon not a sprint although fortunes are won & lost in the blink of an eye in the oil industry.
msommer
Footballguy
Given their Wahhabist lean you really shouldn't hope for that. In any case they have plenty.
beer 30
Footballguy
So that area is one of the most volatile in the world, most every country there is armed to the teeth in up-to-date tech weapons (think Saudi Arabia/Jordan/Egypt) along with all the arms Russia/China/US has dumped there in the last decade and you want to take away their only means of support and roll the dice. Think ISIS with an endless supply of recruits for the foreseeable future. Probably not a good idea.
Insomniac
Footballguy
According to http://www.eia.gov/Saudi Arabia has 268 Billion barrels in estimated proven reserves. They pump about 12 million barrels a day so at that rate they'll be all out in around 60 years.Jobber said:
Ladsud
Footballguy
Iran is back in the game.
https://uk.finance.yahoo.com/news/iran-sanctions-middle-east-stock-102835505.html
https://uk.finance.yahoo.com/news/iran-sanctions-middle-east-stock-102835505.html
LAUNCH
Footballguy
http://woodtv.com/2016/01/17/gasbuddy-gas-below-1gal-in-houghton-lake/
$.47 - Get to Michigan
HOUGHTON LAKE, Mich. (WOOD) — The price of gas at stations in Houghton Lake dropped well below $1 per gallon on Sunday.
The Beacon & Bridge Market in Houghton Lake was selling regular unleaded at a mere $.47 per gallon Sunday evening, while the Marathon and Citgo had gas for $.95 per gallon at one point, according to a release from GasBuddy.com.
The drop seemed to be the result of a price war, GasBuddy said.
The stations could be the first in the nation to drop their prices below $1 per gallon in years, Patrick DeHaan, GasBuddy’s senior petroleum analyst, said in a Sunday email.
Houghton Lake is in central Michigan, south of Grayling.
$.47 - Get to Michigan
HOUGHTON LAKE, Mich. (WOOD) — The price of gas at stations in Houghton Lake dropped well below $1 per gallon on Sunday.
The Beacon & Bridge Market in Houghton Lake was selling regular unleaded at a mere $.47 per gallon Sunday evening, while the Marathon and Citgo had gas for $.95 per gallon at one point, according to a release from GasBuddy.com.
The drop seemed to be the result of a price war, GasBuddy said.
The stations could be the first in the nation to drop their prices below $1 per gallon in years, Patrick DeHaan, GasBuddy’s senior petroleum analyst, said in a Sunday email.
Houghton Lake is in central Michigan, south of Grayling.
beer 30
Footballguy
"The stock markets in Dubai and Saudi Arabia have been plunged into a painful bear market, losing 42pc and 38pc respectively, ever since Saudi Arabia decided to ramp up oil production in November 2014."
Saudi ramping up production in response to our development of our domestic market had a pretty serious backfire, to the point that they are in jeopardy of a revolution. The plan is working perfectly
boots11234
Footballguy
Where are the democrat committees demanding to know why the price of oil is dropping. Why are they not pulling in executives from the oil industry demanding to know why? You know, like they do when the price rises and everyone shouts price gouging.
The General
Footballguy
I pay zero attention to this. This is all the Middle East guys controlling the price right?
Last edited by a moderator:
cstu
Footballguy
AnonymousBob
Footballguy
The General
Footballguy
That goes without saying. But I am just assuming that the oil sheiks control all this. Some factors are a bit out of there control but ultimately they just turn the spigot back on.
cstu
Footballguy
The General
Footballguy
Isn't the need also going up? That can't be the only reason it's dropping so fast. I've got a little Oliver Stone in me always looking for some conspiracy.
Joe T
Footballguy
Serious question, who is responsible for the growth in production over the past years?
chauncey
Footballguy
chauncey
Footballguy
boots11234
Footballguy
cstu
Footballguy
This article has a chart that shows world GDP growth is only about 3%.
In this one it shows oil production is up around the globe, except in the U.S. where production has gone down due to low prices. However, that oil is still there ready to go back online when prices go back up.
Last edited by a moderator:
cstu
Footballguy
I never agreed with attacking oil companies for 'obscene profits' but we shouldn't be giving them handouts at the same time:
http://www.motherjones.com/politics/2014/04/oil-subsidies-renewable-energy-tax-breaks
boots11234
Footballguy
Agree. I'll trade you oil subsidies for farm/ag subsidies. Deal?ETA: this includes ethanol subsidies.
Last edited by a moderator:
Similar threads
![[icon]](/data/avatars/s/5/5167.jpg?1660313464){kind=avatar}
