Who'd a thunk it
- Thread starter Mike
- Start date
fluidfloyd
Active Member
Now that is getting down there. $1.93 here in Kansas City, KS. Probably a little less on the Missouri side. Tis the Season to build big gas guzzling hot rods!
Wyo George
Member
I still have a hard time considering that as cheap, but it's definitely better than we've seen for a while. What irks me is that out here where there are oil wells and refineries the prices are still $2.50 +/- a bit. You'd think it'd be cheaper considering the one station is across the street from a refinery and you can stand in the parking lot and see oil wells.
Oh well... $2.50 is better than $3.50
Oh well... $2.50 is better than $3.50
fordsbyjay
Active Member
I didn't ever think it would get that low either. I wish it would just find a happy medium. There is going to be a lot of job losses due to all the oilfield layoffs soon which is going to suck for a lot of people.
Wyo George
Member
Indeed. My job is oilfield related ( machinist ) and folks are quite nervous right now.
fordsbyjay
Active Member
So do I.
Mike
Well-Known Member
It seems to be a Catch 22 situation. Higher prices caused a lot of oil companies to try to increase production. But there was a fly in the ointment, because as they were trying to increase production, the public was slowly cutting back on use. And now, we've reached the point where supply well exceeds demand, so now the prices are coming back into line.
Funny little business, isn't it?
Personally, I think the Saudis are going to look at the trillions Qatar is making in the natural gas market and redirect its efforts in that direction.
I think Americans are all hung up on renewable energy, just the now, but let's be realistic. Renewable energy accounts for what, maybe 2% of our overall energy sourcing? And to move that number up into the 20% range will likely take 15-20 years to accomplish.
And it is not going to help the oil companies in getting the prices moving back the other way, when the truth about U.S. energy reserves become more well-known. What's the potential of the North Dakota Bakken, something north of 300 billion barrels? The information is now available for all to see, and there is no escaping the fact that the U.S. has more gas/coal/oil reserves than all the countries in the world, combined. Something in the neighborhood of 500 billion barrels of oil sound pretty accurate? That's not going to stop the dark side of American finance from realizing that he who dies with the most oil wins, but isn't it amazing that Keystone XL is suddenly getting renewed support, when world trade pricing on oil is in the dumper?
Funny little business, isn't it?
Personally, I think the Saudis are going to look at the trillions Qatar is making in the natural gas market and redirect its efforts in that direction.
I think Americans are all hung up on renewable energy, just the now, but let's be realistic. Renewable energy accounts for what, maybe 2% of our overall energy sourcing? And to move that number up into the 20% range will likely take 15-20 years to accomplish.
And it is not going to help the oil companies in getting the prices moving back the other way, when the truth about U.S. energy reserves become more well-known. What's the potential of the North Dakota Bakken, something north of 300 billion barrels? The information is now available for all to see, and there is no escaping the fact that the U.S. has more gas/coal/oil reserves than all the countries in the world, combined. Something in the neighborhood of 500 billion barrels of oil sound pretty accurate? That's not going to stop the dark side of American finance from realizing that he who dies with the most oil wins, but isn't it amazing that Keystone XL is suddenly getting renewed support, when world trade pricing on oil is in the dumper?
fletcherson
Well-Known Member
Not to mention the epa. We have this push on renewable energy and non coal powered power plants and the cost of electricity is skyrocketing. They sold everyone on deregulation a few years back, now we get slammed on nat gas prices. The real issue is greed and control.
RatchetRob
Banned
I realize renewable only accounts for a fraction BUT 10 years ago it was even less. Things take time to sort out problems and build the infrastructure needed to support it. Not all renewable fuels are the answer but some have some merit and the more we explore that the more we can become energy independent. I am not advocating a replacement of fossil fuels but more of a supplement for fossil. All this fracking going on happened ONLY because prices were high enough to support it. If we could get renewable up to around 25% we could turn the tables on the Saudis. Aside from that we export a lot of the oil that is being produced here. So save the drill baby drill speech. Let's find a way to become more independent of fossil fuels while using our own supplies instead of selling them. To me it is a National Security issue. Quit paying the terror nations for oil! JMO though. lol PS It has NEVER been about supply and demand. Simply what the Arab nations want the price point to be. Like right now, they are not shutting off the taps to try and drive the fracking business out of business. Knowing full well that there is a supply overage they continue to pump. Then they will shut off the taps to drive it back up after they have hurt our companies.
fletcherson
Well-Known Member
There are many facets to this issue. The u s used to be the primary consumer, now we have aided and allowed many other countries, our competitors, to become super power status in relation to oil and other important comodities. We are not the big dog any more. We better wise up and put a leash on the epa and others who strangle our ability to be the super power that allowed them to even exist. Jmo... The fact that we sent our troops over to rescue the richest per capita oil producing nation in the world from Sadam and are still at war at our expense is an example of how to destroy our sovereignty. The direct reward we recieved from recuing their wives and daughters from unspeakable acts was our fuel prices quadrupled. What happened to the spoils of war theory? I am not advocating the pillaging of the helpless, but we should be at least repaid for saving their skin... I doubt they are even our allies now. If they are, it is only to save their ass, they will not even speak out against the extremist acts, let alone actually do anything to help. My point is that our leadership is playing a dangerous game and we, the tax payers, are not in their equation other than to fund their ideas.
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