What's with the low oil prices?

[RKMBrown]

Big Oil hits the brakes on shale spending
By Matt Egan @mattmegan5 December 8, 2014

With oil prices in free fall, the fear is that hunting for new shale in the U.S. may just not be that profitable.

ConocoPhillips (COP) became the first major U.S. oil company on Monday to reveal that it is slashing spending for 2015. There are expectations that more energy companies will follow.

Big Oil hits the brakes on shale spending - Dec. 8 2014

oh, PS...

...see, I told you so.

You think you are the first person to figure out oil companies work for profit?

 

[Vigilante]

Big Oil hits the brakes on shale spending
By Matt Egan @mattmegan5 December 8, 2014

With oil prices in free fall, the fear is that hunting for new shale in the U.S. may just not be that profitable.

ConocoPhillips (COP) became the first major U.S. oil company on Monday to reveal that it is slashing spending for 2015. There are expectations that more energy companies will follow.

Big Oil hits the brakes on shale spending - Dec. 8 2014

oh, PS...

...see, I told you so.

Well low oil prices will certainly hurt the shale business, the shale business will continue to keep oil prices DOWN from other sources fearing their resurgence BUT will certainly HELP our economy in other ways where the high price of gas has made DELIVERY of products much more expensive.

 

[AVG-JOE]

I have absolutely no idea. I don't do labels.

What's a "peak oil" fool?

One of those folks claiming we're gonna run out of oil. The same folks claiming we're gonna die of global warming.

Of course we're going to run out of oil. It's a finite resource.

The price it's selling for today tells me that we're not going to run out before I get to file for my Social Security. After that I don't care.

 

[Yurt]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

Actually it was BluesLegend who said they said it. Hint: no proof.

good lord you are a blithering left wing idiot. it was said frequently on this board, in the news, you know...all over the internet.

 

[RKMBrown]

I have absolutely no idea. I don't do labels.

What's a "peak oil" fool?

One of those folks claiming we're gonna run out of oil. The same folks claiming we're gonna die of global warming.

Of course we're going to run out of oil. It's a finite resource.

The price it's selling for today tells me that we're not going to run out before I get to file for my Social Security. After that I don't care.

Iron's a finite resource too but you don't see people screaming about us running out. No, oil is not a finite resource. This is a myth perpetuated by the term "fossil" fuels.

 

[AVG-JOE]

As far as global warming goes.... we do kind of owe it to the future to be as responsible as we 'can' with regards to pollution and junk.

That said, I have to feed my family in 21st Century America so I use an automobile on a daily basis.

And I like it!​

 

[AVG-JOE]

Iron's a finite resource too but you don't see people screaming about us running out. No, oil is not a finite resource. This is a myth perpetuated by the term "fossil" fuels.

So... what... you think that the earth is making more of the stuff as we suck it from the ground?

 

[Toddsterpatriot]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

Actually it was BluesLegend who said they said it. Hint: no proof.

Actually it was BluesLegend who said they said it. Hint: no proof.

More Drilling Won t Lower Gas Prices ThinkProgress

More U.S. Oil Drilling Won t Lower Gas Prices Experts Say

Note to Mitt More Drilling Will Not Lower Gasoline Prices - Businessweek

Nope more drilling won rsquo t bring back 2.50 gasoline - The Washington Post

Gas prices wouldn t be lowered by more domestic oil drilling - Apr. 25 2011

http://www.usclimatenetwork.org/resource-database/offshore-drilling-a-false-answer-to-energy-prices

Pelosi vs. America Speaker Pelosi Says No to Drilling When America Overwhelmingly Says Yes Speaker.gov

House Dems Latest Tactics Would Block More Production of American Energy Lower Gas Prices Speaker.gov

Pelosi and Reid s Big Choice Lower Gas Prices or Go on a Five Week Vacation Human Events

Pelosi Reid and Obama The Three Stooges of American Energy Policy Start Thinking Right

We can t just drill our way to lower gas prices. Says who RedState

U.S. drilling won t lower gas prices study shows - SFGate

 

[SwimExpert]

No, oil is not a finite resource.

So then you don't know what you're talking about.

 

[Toddsterpatriot]

low demand mean a bad economy is coming.

Thanks to Republicans/corporate America/wall street, the middle class has suffered a bad economy since the economic crash of 2008.

Liar says what?
Tell me again that corporate revenue is the same as adjusted gross income. LOL!

 

[The Rabbi]

No, oil is not a finite resource.

So then you don't know what you're talking about.

If you think oil is finite then you are complteely clueless.
We have been told we are running out of oil almost since the day oil was discovered.

 

[Toddsterpatriot]

low demand mean a bad economy is coming.

Thanks to Republicans/corporate America/wall street, the middle class has had a bad economy since the economic crash of 2008.

How did Republicans have anything to do with low demand?
obama's anti fossil fuel policies and agenda has done it.

Not just a chronic and habitual liar, you're stupid too.

He's such a fucking idiot.....I'm surprised he can even find his computer and turn it on.

Exploration and well drilling is at an all time high under Obama.

US drilling under President Obama: Fact vs. fiction
US drilling under President Obama Fact vs. fiction OTR Interviews On the Record Fox News

Exploration and well drilling is at an all time high under Obama.

That is awesome!! What did Obama do to help?
Be as specific as you can.

 

[The Rabbi]

low demand mean a bad economy is coming.

Thanks to Republicans/corporate America/wall street, the middle class has suffered a bad economy since the economic crash of 2008.

Liar says what?
Tell me again that corporate revenue is the same as adjusted gross income. LOL!

He is clueless. Just a waste of bandwidth.
The GOP was powerless following 2008's election so logically everything now must be the other guys' fault.

 

[Vigilante]

low demand mean a bad economy is coming.

Thanks to Republicans/corporate America/wall street, the middle class has had a bad economy since the economic crash of 2008.

How did Republicans have anything to do with low demand?
obama's anti fossil fuel policies and agenda has done it.

Not just a chronic and habitual liar, you're stupid too.

He's such a fucking idiot.....I'm surprised he can even find his computer and turn it on.

Exploration and well drilling is at an all time high under Obama.

US drilling under President Obama: Fact vs. fiction
US drilling under President Obama Fact vs. fiction OTR Interviews On the Record Fox News

Exploration and well drilling is at an all time high under Obama.

That is awesome!! What did Obama do to help?
Be as specific as you can.

I see you couldn't answer my statements about Reid, now you want to give Obuma credit when a vast majority of drilling is on PRIVATE land, not the government controlled PUBLIC land!

US oil and gas drilling moving to private land where the shale is

 

[SwimExpert]

If you think oil is finite then you are complteely clueless.

Yeah. Me, and British Petroleum.

Oil reserves About BP BP Global

 

[Toddsterpatriot]

Thanks to Republicans/corporate America/wall street, the middle class has had a bad economy since the economic crash of 2008.

How did Republicans have anything to do with low demand?
obama's anti fossil fuel policies and agenda has done it.

Not just a chronic and habitual liar, you're stupid too.

He's such a fucking idiot.....I'm surprised he can even find his computer and turn it on.

Exploration and well drilling is at an all time high under Obama.

US drilling under President Obama: Fact vs. fiction
US drilling under President Obama Fact vs. fiction OTR Interviews On the Record Fox News

Exploration and well drilling is at an all time high under Obama.

That is awesome!! What did Obama do to help?
Be as specific as you can.

I see you couldn't answer my statements about Reid, now you want to give Obuma credit when a vast majority of drilling is on PRIVATE land, not the government controlled PUBLIC land!

US oil and gas drilling moving to private land where the shale is

You have me confused with someone else.

 

[bigrebnc1775]

low demand mean a bad economy is coming.

Thanks to Republicans/corporate America/wall street, the middle class has had a bad economy since the economic crash of 2008.

How did Republicans have anything to do with low demand?
obama's anti fossil fuel policies and agenda has done it.

Not just a chronic and habitual liar, you're stupid too.

He's such a fucking idiot.....I'm surprised he can even find his computer and turn it on.

Exploration and well drilling is at an all time high under Obama.

US drilling under President Obama: Fact vs. fiction
US drilling under President Obama Fact vs. fiction OTR Interviews On the Record Fox News

obama brought back the ban for off shore drilling. obama closed a large portion of the waters around the US to drilling He closed off drilling in portions of Alaska. He's not going to allow the keystone pipeline
I'm surprised you were able yo pull your head from obama's ass to make an attempt to refute what I said.

 

[JakeStarkey]

Once again I called it right. I liquidated some funds that would be a burden in the market and have them ready for investment in rental property here in the city and valley. I think we will be in a recession through most of next year.

No, you have it timed wrong.

The EU is going to continue to suffer and will slip into a recession by summer of 2015. China's economy is about to really take a hit and will drive some of that and the US won't feel that impact until 2016.

None of that is a given, and many things can alter the trajectory.

However, many on the left are getting a first hand account of the abstract concept of "supply and demand".

Though I think that none of you will learn this lesson.

I am not left, and you know very little about the economics of oil, that is clear.

 

[AVG-JOE]

If you think oil is finite then you are complteely clueless.
We have been told we are running out of oil almost since the day oil was discovered.

Seriously?!?

Just because there appears to be plenty right now doesn't mean it's a renewable resource.

Any chance you can briefly explain how more is being made?

​

 

[OnePercenter]

It's the Saudis hurting Putin. PERIOD.

It's the Saudis that are sitting 'on a pile of gold,' TRILLIONS WORTH.

It costs $10.00 to produce a barrel of oil, so there's plenty of room to make money.

That's not true - you just are an ignorant slug smoking dope in moms basement with no grasp of reality.

Sure. Now look at production of each company vs. profits. The numbers don't work. It's $10.00 a barrel.

 

[OnePercenter]

Moron of "epic" proportions.

Truth sucks?