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Oil is under 30 dollars now 
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Jan 12, 2016 21:44
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Can anyone explain how we could further utilize Slant drilling to offset fracking costs
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Jan 12, 2016 22:20
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Zeroisanumber posted:Fracking is one reason, the complete collapse of cohesion among members of OPEC is another.   
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Jan 12, 2016 22:25
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Acelerion posted:One interesting driver in this has been smaller, high cost, producers that exploded in the 'shale revolution' investment boom. Even though prices are poo poo and they lose money on every barrel, they have to keep producing just to service debt - reducing prices further. Eventually they will die, they're effectively dead already, and Im sure all that wonderful debt has been sliced, diced, and CDO'd into all sorts of great financial products. Who knows what, if anything, that will lead to but at the minimum a lot of banks are going to be sitting on oil and gas assets going "what the gently caress am I supposed to do with this exactly?" Yeah most of those shale producers are now unable to open new wells because they are 1:1 profit to Debt payment. They are called zombie companies because of this issue. Once their old wells dry up they will die, unless oil skyrockets to $200 a barrel.
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Jan 12, 2016 23:36
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Zeroisanumber posted:Chevron (CVX) is down 1% today and oil dropped below $30/bbl again before settling at $30.22. Gonna wait until it falls below $30 and stays there at close and then buy, buy, buy! They may have to trim off the invasion of a country to survive the winter. 
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Jan 14, 2016 17:50
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Bar Crow posted:Canada will have to start selling oil in bags. Don't worry Truedoe will fix that by banning the extraction of oil.
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Jan 19, 2016 19:45
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hobbesmaster posted:Unfortunately life as we know it is impossible without oil. http://alaska.conocophillips.com/what-we-do/oil-production/Pages/what-is-oil-used-for.aspx
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Jan 21, 2016 23:11
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| # ¿ May 22, 2024 09:45 |
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Evil Fluffy posted:As someone who grew up in an area that was strip mined 80+ years ago I can assure you the oil sands are going to need a lot longer than that to recover. Any waterways that are contaminated with metals and other toxic poo poo are pretty much a lost cause for a very long time because its hard for anything to live in something where the bottom is layered in poison (in addition to the water itself being unlivable). 
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Jan 22, 2016 00:20
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