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Alex said:
no question, I am talking about why the oil prices are dropping right NOW

P says our oil production is way up when its actually dropping, and our consumption is down, when its not, and expected to go up
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what the hell are you looking at? production over the last 5/10 years is WAY up. the last few months it might be down, sure, because of lower prices, but the past few years production is way up.
 
pressitup said:
Rigs shut down when they are not profitable to operate.
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rigs are not profitable because the Saudi's are dumping oil on the market, which cost them $20-$25 a barrel to produce, while in the USA it costs $50-$75

hey you guys are in oil country, so maybe you know better, but everything ive been told has been the opposite
 
Alex said:
rigs are not profitable because the Saudi's are dumping oil on the market, which cost them $20-$25 a barrel to produce, while in the USA it costs $50-$75

hey you guys are in oil country, so maybe you know better, but everything ive been told has been the opposite
Click to expand...
what you are saying is correct, but the Saudis are not increasing production to drop oil prices. Production is high and they are choosing to maintain what they produce to keep prices lower to drive out the marginal players in the US and other parts of the world that have higher production costs.
 
I was at a Browns-Colts playoff game started by Jack Trudeau. We crushed you. Think it was the year of Byner's fumble in Mile High.
 
P-Unit said:
what the hell are you looking at? production over the last 5/10 years is WAY up. the last few months it might be down, sure, because of lower prices, but the past few years production is way up.
Click to expand...

we aren't talking about the same thing. You are talking about the last 5-10 years. Yes US Oil Production has gone way up, but in large part has the stayed relatively the same the last 2-3 years. The initial comment I made was that due to the Saudi's (OPEC) over saturating the market, the prices have fallen. You told me this is not the case, prices are following because the USA is over producing. I am telling you this is not he case, the USA is shutting rigs down because they are losing money because of the Saudi's and because it is far cheaper for them to produce oil. You said demand is DOWN. Government Data (http://www.eia.gov/forecasts/steo/report/us_oil.cfm) shows that's not true, oil demand is up since last year to this year on all counts, and will continue to go up in 2015.
 
tipyerbartender said:
I was at a Browns-Colts playoff game started by Jack Trudeau. We crushed you. Think it was the year of Byner's fumble in Mile High.
Click to expand...
I remember going to the RCA dome and the dog pound fans ALWAYS traveled well. But I can remember sitting anywhere I wanted to in the upper deck back in those days. You could pick your seat
 
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