Oil Crisis Getting Worse..Many Think Now It Is Going TO $15 a Barrel

DiggityDaggityDo · 01-15-16, 02:39 PM

trytrytry · 01-15-16, 02:41 PM

the only thing wrong is way too many talented chemical engineers who can get that stuff out of the ground now at higher yields than ever, and with new technologies and refine it all so efficiently.

JohnnyD4916 · 01-15-16, 02:43 PM

Yep I guess it's time for me to find a new career.

trytrytry · 01-15-16, 02:45 PM

Originally posted by JohnnyD4916

Yep I guess it's time for me to find a new career.

are you a chemE?

jjgold · 01-15-16, 02:46 PM

fukk

NJ it is already $1.50

Scorpion · 01-15-16, 02:57 PM

the us is the biggest oil producer after saudi arabia
this is caused by massive overproduction by saudi arabia, why? to crush the US shale industry

JohnnyD4916 · 01-15-16, 02:58 PM

Originally posted by trytrytry

are you a chemE?

I was in the oilfield as a well tester. But there is no work now so I need to find something else might even go back to school.

lilpete · 01-15-16, 03:01 PM

markets are rigged and will magically bounce back

Booya711 · 01-15-16, 03:22 PM

Blame the fukking Dems...saving birds and fish are more important than drilling for oil

cashmoneyholla · 01-15-16, 03:23 PM

It is a penetrating disaster up here in Alberta . People losing there homes at an alarming rate . And no end in site . I do not feel to smart being in the drilling industry right now, most likely be laid off soon . Johnny where did you work ?

Holla

jjgold · 01-15-16, 03:25 PM

lol at people saying it is a bottom

Those same people said it was a bottom at 70, 60, 50, 40

The Kraken · 01-15-16, 03:27 PM

This is what happens when you have a President that's not in bed with the large oil producers

/thread

Thank You Obama

blackHIPPY · 01-15-16, 03:27 PM

crazy here in tx rn

d2bets · 01-15-16, 03:35 PM

Originally posted by Booya711

Blame the fukking Dems...saving birds and fish are more important than drilling for oil

LOL the epitome of stupidity. We have more oil than ever. That's (part of) why prices are low. Basic supply and demand. If there was more oil, prices would be even lower.

Somehow people don't know that we are producing more domestic oil than ever.

brooks85 · 01-15-16, 03:36 PM

Originally posted by The Kraken

This is what happens when you have a President that's not in bed with the large oil producers

/thread

Thank You Obama

lol that other thread about who is the stupidest poster clearly has you in the zone. Bravo

GUMMO77 · 01-15-16, 03:37 PM

I have a lot of friends that do/did work in the oil fields in ND. The smart ones saved, but most of the guys spent the money as fast as they got it. They'd go to Vegas ever other week

and we know how that usually turns out.

floridagolfer · 01-15-16, 03:41 PM

If it's the goal of Saudi Arabia to crush the oil industry in the U.S. and Canada, sure looks like the strategy is working. But I'm sure Obama and Congress have a plan.

The Kraken · 01-15-16, 03:43 PM

Originally posted by brooks85

lol that other thread about who is the stupidest poster clearly has you in the zone. Bravo

I see you have forgotten the lessons I've taught you, which one do I need to remind you about?

brooks85 · 01-15-16, 03:44 PM

^remind me about burden of proof... lol

Originally posted by floridagolfer

If it's the goal of Saudi Arabia to crush the oil industry in the U.S. and Canada, sure looks like the strategy is working. But I'm sure Obama and Congress have a plan.

lol yes, making the problem worse by strengthening Iran

SBRMAN23 · 01-15-16, 03:56 PM

Originally posted by GUMMO77

I have a lot of friends that do/did work in the oil fields in ND. The smart ones saved, but most of the guys spent the money as fast as they got it. They'd go to Vegas ever other week

and we know how that usually turns out.

i got one boy just like this its crazy that he makes 6 figures but is always broke strip clubs trips etc lmao

chico2663 · 01-15-16, 03:58 PM

my family is in the oil business. If you see a rig put up since 1966 good probability he made it. s.a. is trying to kill usa shale industry.i bought gas here for 1.42 the other day in houston. saudi is going bankrupt so pretty soon they will slow back production and the barrell will go up again.

blackHIPPY · 01-15-16, 04:01 PM

where Opie at

GUMMO77 · 01-15-16, 04:03 PM

Originally posted by SBRMAN23

i got one boy just like this its crazy that he makes 6 figures but is always broke strip clubs trips etc lmao

At least where my friends are in Williston, ND, the strippers were making mad-cash for awhile.

404 Page Not Found - CNNMoney

http://money.cnn.com/2011/10/25/pf/America_boomtown_strippers/

d2bets · 01-15-16, 04:11 PM

So now low gas prices are a crisis? I thought that's what we wanted?

jose21_us · 01-15-16, 04:14 PM

Crazy shit got gas in Ohio for $1.59

MoMoneyMoVaughn · 01-15-16, 04:16 PM

Canadian dollar is barrelled in as fuk cuz of this.

Economists discussing the prospect of a ¢59 dollar.

FUCCK

pavyracer · 01-15-16, 04:21 PM

Oil should be free. Why do we have to pay for gas?

lilpete · 01-15-16, 04:22 PM

watching the markets is like watching cavs/warriors, the outcome is never in doubt just a few bumps along the road

The Kraken · 01-15-16, 04:47 PM

Originally posted by brooks85

^remind me about burden of proof... lol

lol yes, making the problem worse by strengthening Iran

I vaguely remember something about burden of proof in our past, but the details slip my mind

However, your lesson for today is, if you make the claim, the burden of proof is on you. So I'm sure you made a claim and couldn't back it up at which time I reminded you that the burden of proof was on you to provide evidence of your claims, not on me to disprove it.

ACoochy · 01-15-16, 04:56 PM

Originally posted by trytrytry

the only thing wrong is way too many talented chemical engineers who can get that stuff out of the ground now at higher yields than ever, and with new technologies and refine it all so efficiently.

And the advancement of renewables has seen less and less demand for oil and will continie to do so.

Who needs petrol to power their vehicle when they have electricity?

freeVICK · 01-15-16, 05:02 PM

Dirt cheap oil prices yet plane tickets still high as ever? Airline companies must be raking in the dough. Maybe I'll invest in some stocks?

ACoochy · 01-15-16, 05:04 PM

Originally posted by freeVICK

Dirt cheap oil prices yet plane tickets still high as ever? Airline companies must be raking in the dough. Maybe I'll invest in some stocks?

Depends how you shop...

Just booked 7000miles for a tad over 300 bucks but i like the angle...

mpaschal34 · 01-15-16, 05:16 PM

I added some MRO and USO today to my portfolio. Will continue to add if it goes down. This is long term money, so I can afford to be patient.

brooks85 · 01-15-16, 05:22 PM

Originally posted by The Kraken

I vaguely remember something about burden of proof in our past, but the details slip my mind

However, your lesson for today is, if you make the claim, the burden of proof is on you. So I'm sure you made a claim and couldn't back it up at which time I reminded you that the burden of proof was on you to provide evidence of your claims, not on me to disprove it.

your memory is slipping on ya