martybegan
Diamond Member
- Apr 5, 2010
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Great for consumers, bad for producers. Bad business to be in.We have had 2+ years of low gas and oil prices, it seems to be an excellent business to be in.
I guess you'd try to compete with China with a labor intensive product too. Not smart.
Those companies made a ton of money, a lot continue to make a ton of money, just not as much as when they were lowering prices.
And comparing kids toys with energy production is idiotic.
Yeah ending in bankruptcy is a big success.
You obviously aren't smart enough to understand the comparison. Who said kids toys?
You brought up Chinese labor intensive products, dippy.
And for every well that went bankrupt, there are multiple others that sold out to bigger companies that are better able to weather shutdowns, and multiple others already owned by bigger companies ready to restore production when the prices go up.
Add that to the american ingenuity that keeps reducing the break-even point for these wells, and your "concern" is easily ignored.
Yes all strong industries are loaded with bankruptcies, sure.
And let's just keep feeding oil use and the Middle East will keep collecting money. Lots of great people in the Middle East.
Well at less than $50 a barrel, they are collecting a whole lot less money. And Fracking is to thank for that.