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These low gas prices are great for the US, they will allow small businesses to start and grow much more easily, more people will be working, our economy will grow. Also, fracking is horrible for our environment and totally unnecessary and is a function of extreme greed, I hope every fracking operation goes belly up.
If oil stays low it will destroy economy long termOriginally Posted by EmpireMaker
Harsh but fair...
Societies moving away from coal and fuel and into electric faster than the markets had expected thus also another reason contributing toward this decline in oil...
Cant stop new technology...
Almost as many experts in long term oil futures on SBR as there is great football minds.
The only guarantee is that it will absolutely 100% go back up, just as assuredly as it was going to come down. Y'all act as if this is the first time a barrel has ever crashed. This isn't any different than it's ever been.
As far as when it's going to turnaround...may as well flip a coin. No one knows the answer to that.
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SBR
Poster of
Year
2011
lol has no idea what he is talking about as usual
Its very different this time as consumer demand has dissipated whereas in previous crashes this was not the case.
New technologies are far less dependent on oil.
Many analysts saying what we are seeing is a transition from the era of oil to one where oil will become less and less of a staple in our daily lives...
Basically seeing a entirely new revolution unfold before our very eyes.
Sure the price will rebound over time but our demand for the stuff will never see the same peaks it once did...
Technology is where its at these days pal. Hop on board or get left behind
I 1000% disagree.
Do you realize the % of vehicles that are powered with anything other than gas?
Electric cars are just one of a long line of "alternatives" that have been introduced. Every one of them has been nothing but a blip. Nobody wants to drive that shit. Get serious.
Look back on a little history of down times in the oil industry. I can assure you they have happened every decade, minimum, and every single time it comes back as strong as ever. I know many people that have been in the oil business for 50+ years, made absolute fortunes, and they unilaterally concur that this is simply a part of the business.
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SBR
Poster of
Year
2011
Maybe in america but when it comes to these types of technologies your still around 15-20 years behind the rest of the developed world due largely to well known fact that big oil corps have a stranglehold on technological progress as its not in their interest to accept non oil based technologies. I mean look at how much money big oil combined gave to congress last year if you need further evidence...
Electric and hybrid vehicles becoming more and more popular around the world due to the fact that the problems that once hindered their progress (ie battery and helium recharge stations etc) are slowly being solved due to comoanies like Tesla and products like their power wall etc and other companies that now build cars that can self sustain their own propulsion infinitely without having to ever go to a fuel station...
Tell me where these technologies were the previous times oil crashed?
In addition to that you also have the recent Copenhagen accord where every country around the world for the 1st time agreed to cut their global emissions thus further encouraging use of alternate forms of energy and putting downward pressure on the price of oil...
Tell me where that was during the previous crashes??
In historical terms oil is on its dying legs pal...
I'd drive an electric car anytime. Just remember when oil runs out cars powered by gas will be useless whereas you can make electricity from solar, hydro, wind, tide or nuclear energy.
Plus it helps meet emission targets that all countries set during the recent Copenhagen agreement...
Big oil is slowly dying. Im sure the price will bounce back but anyone who thinks it will return to the gold old days is dreaming...
can't get one sentence in without saying something stupid and untrue.
Sharp post sir
Electric cars could cut oil imports 40% by 2030
http://www.theguardian.com/environme...rts-40-by-2030
US is one step behind the rest of the world in transportation.
We have gas cars they have electric.
We have diesel slow moving trains they have high speed maglev trains.
We have boats they have hovercrafts.
We have big airports with small planes they have small airports with big planes.
Need I say more?
well, I imagine people expected more than a minute routine for their comedy show...
LOL. The Guardian.
Weren't we supposed to have hover cars by now too???
You libtards are funny.
SBR
Poster of
Year
2011
No. Not happening in the next 40+ years. Wish it would, but it won't. My dad is working as an independent developer in the power supply industry. Working for companies all over Europe, India, China, USA. Not happening. Simple as that. Many reasons for it, major ones are the automobile industry itself and cheap oil.
I want oil to get so cheap I pull up at the pump and fill up my Suburban and throw em a dollar and say keep the change bitch! penetrate big oil and penetrate Saudi Arabia!
It will come soon. Remember Iran sanctions are over and on Monday they will flat the market with more oil about 1.5 million barrels per day.
And why do you drive a Suburban? You have wife and 6 kids?
I remember the old gas wars when gas was$0.19 per gallon
You may just get your wish...
Oil yesterdays technology...
Developed world (but you lot) gets it...
If only there were more Dinosaurs...
It's shutting down even North Dakota Williston is losing rigs everybody in the patch knows they were really booming. Bakersfield out here is hurting bad ...good money but that's what I hate about the oil field the bust cycles.
Never got to work in North Dakota. Got offered work but pay wasn't good enough for me to leave. I've made a lot of money but time to find something new.
Too cold and windy for me when I could just work west Texas until I came back from Cali... I thought about going up there I still might when they pick back up.
Johnny what did they offer? In 2012 during the rush nabors drilling was offering 20-25 an hour for new Cdl vac drivers. Was crazy
What type of work do you do? Drilling side?
I was offered $15 an hour getting paid 24 hours a day + per diem. Was already making more than that in Texas weather.
No I was vac truck driver then they mostly had me moving tanks and bring brine and picking up mud. Working west Texas was crazy for a guy from the city. I was in Iraan/Sheffield about outside of fort Stockton in the sticks. No country for old men territory.
That's not too bad the hourly is low but they pay you to sleep right... My buddy from Halliburton had that deal. He loved it.
Been out there and didn't like it. Wasn't as bad as south Texas having to look for illegals all the time.
Yeah I'd work 12 hours supervising the well and then be off 12 hours just get paid 24 hours so it was mostly all overtime. Easy Money
I made 15 dollars an hour back in 1981 building oil rigs. In houston and also in odessa. penetrating hated odessa trantula's and all those 70 yr old men. driving their caddies and banging young snatch. man i was jealous!
nevermind
Damn, I'm I studied the wrong engineering
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