I agree, but not with your reasons

Apr 27, 2017
6:19:54pm

Mike Honcho All-American

It won't go up much because fracking is now economical at $50-60. If OPEC or some other factor pushes price up, more frackers spin up quick to satisfy demand and keep prices pretty stable.

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Mike Honcho

Previous username: BYUCoug11
Bio page: Mike Honcho
Joined: Feb 27, 2011
Last login: May 22, 2024
Total posts: 54,142 (10,353 FO)

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Messages

Author

Time

Oil prices can't really go up...

BeyondTheMark

4/27/17 6:06pm

Maybe but not in our lifetime. Oil's relatively cheap. Clean tech can't compete.

WDaddy

4/27/17 6:08pm

Part of the reason oil/gas is cheap is precisely because its had to compete with

BeyondTheMark

4/27/17 6:12pm

I don't agree with that at all. Directional drilling and US shale production

WDaddy

4/27/17 6:15pm

Just isn't true- as the economy has rebounded the oil consumption hasn't

BeyondTheMark

4/27/17 6:25pm

The first paragraph agrees with me. From a demand perspective though, it talks

WDaddy

4/27/17 6:38pm

This is true...clean energy solar and wind have virtually no affect upon oil

Nat Gas Man

4/27/17 6:48pm

Same thing was said about coal 15 years ago. It's still the most cost effective

Lance71

4/27/17 6:09pm

Huh? I hope you're trolling, right?

BeyondTheMark

4/27/17 6:10pm

Yeah, natural gas has surpassed coal. That stuff is cheap.

WDaddy

4/27/17 6:11pm

I can sell Natural Gas to power plants cheaper than they can buy coal

Nat Gas Man

4/27/17 6:19pm

In my previous company, that's exactly what we saw. Our manufacturing operations

WDaddy

4/27/17 6:23pm

Eventually, this will be true. Eventually. Pretty sure we'll see oil a lot high

Incentivize

4/27/17 6:14pm

I agree, but not with your reasons

Mike Honcho

4/27/17 6:19pm

Solar still only provides about 1% of all energy produced.

Thrill

4/27/17 6:22pm

Of course considering all the power plants in place- but its ~40% of energy

BeyondTheMark

4/27/17 6:29pm

not energy...electricity...huge difference. For solar to really take off it will

Nat Gas Man

4/27/17 6:37pm

Expect oil to bounce between $45 and $65 for the foreseeable future.

BostonCougar

4/27/17 7:48pm

The issue with that price is that if you look at the capital budgets of all the

Nat Gas Man

4/27/17 8:05pm

True. With the Saudi's trying to take Aramco public, they need a medium price

BostonCougar

4/27/17 8:43pm

When people start saying that such and such will never rise again and this time

My Soapbox

4/27/17 11:49pm

Yes never say can't. Housing was always a can't ever go down and it didn't even

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