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

[JohnnyD4916]

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

I have worked all over Texas, Louisiana and New Mexico.

[existential]

crisis for bagholders i suppose

[smitch124]

I guess crisis is on both sides of extreme prices. What should the best price of a gallon be? 2.75?

[jjgold]

USO ok

Long term


How low could not go?

[d2bets]

Do people even know that the U.S. is producing far more domestic oil than we ever have and have now overtaken Russia and Saudi Arabia as the world's leading producer? The notion that Obama has stifled production is a complete fabrication.

[Jaug]

[Thunderground]

I prefer cheap gas. Why is that a problem? Because the price gouging finally ends? Because our economy will fall apart unless greed can run rampant?

They can put any price on oil that they want, and we'll pay it. A lower price is good for the people. It should lower food prices as well, as transportation becomes cheaper.

[KVB]

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



/thread

Thank You Obama

Of all the wacky explanations I heard in this thread, this one made me spit out my coffee.

[TheMoneyShot]

I feel sorry for all the posters who's career revolves around the oil...

But damn... citizens got fukking robbed the last 10+ years or so paying for fuel.

Fukking ridiculous.

[The Kraken]

I feel sorry for all the posters who's career revolves around the oil...

But damn... citizens got fukking robbed the last 10+ years or so paying for fuel.

Fukking ridiculous.

I kind of agree

I ride a scooter that has a 1.5g tank Fill it up once a month at most

I bike to work 4 days/week

In Oklahoma, we had to have two cars. Living in Seattle, it's nearly impossible to have two cars. Sold the wifes car before moving, kept the truck

Looking for a scooter gang to join

[opie1988]

Obama has done all he can to ruin our great country. Can't wait till this Muslim fukk is out of office.

So ready to MAKE AMERICA GREAT AGAIN!!!

TRUMP 2016

[The Kraken]

Of all the wacky explanations I heard in this thread, this one made me spit out my coffee.

You know I'm right

[The Kraken]

Obama has done all he can to ruin our great country. Can't wait till this Muslim fukk is out of office.

So ready to MAKE AMERICA GREAT AGAIN!!!

TRUMP 2016

Opie, how feasible would it be for you to ride a 125cc Scooter around all day?

Think of all the gas $$$ you could save

[BIGDAY]

Obama has done all he can to ruin our great country. Can't wait till this Muslim fukk is out of office.

So ready to MAKE AMERICA GREAT AGAIN!!!

TRUMP 2016

[KVB]

I kind of agree

I ride a scooter that has a 1.5g tank Fill it up once a month at most

I bike to work 4 days/week

In Oklahoma, we had to have two cars. Living in Seattle, it's nearly impossible to have two cars. Sold the wifes car before moving, kept the truck

Looking for a scooter gang to join

In college I rolled around on a scooter. I could park anywhere and that thing got like 70 miles to the gallon easy.

[The Kraken]

In college I rolled around on a scooter. I could park anywhere and that thing got like 70 miles to the gallon easy.

It's quite emasculating initially, but once I got past caring, rolling a scooter has MANY advantages. Parking here is the biggest benefit. I went to the gym today in my truck, NO PARKING ANYWHERE Drove around 5 blocks, nothing. Drove home, got the scooter, drove back to the gym and parked in front of the front door like I owned the place

[KVB]

You know I'm right

[KVB]

It's quite emasculating initially, but once I got past caring, rolling a scooter has MANY advantages. Parking here is the biggest benefit. I went to the gym today in my truck, NO PARKING ANYWHERE Drove around 5 blocks, nothing. Drove home, got the scooter, drove back to the gym and parked in front of the front door like I owned the place

I was in Westwood, I could park betwen any two cars on the street, anywhere. I plastered a giant Steal Your Face Sticker I found at Venice Beach right across the front...

[smitch124]

Obama has done all he can to ruin our great country. Can't wait till this Muslim fukk is out of office.

So ready to MAKE AMERICA GREAT AGAIN!!!

TRUMP 2016

Hillary gonna make Obama look like Hitler, enjoy

[zizoudane10]

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.

Not anytime soon. Vicious circle.

[The Kraken]

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[Buffalo Nickle]

The lower the price, the more you gotta drill. Arabs have to drill to keep the money flowing and the US shale producers are in debt up to their eyeballs so it is drill or go under. The more the price drops, the more you drill to make up the difference. That's why they keep driving the price lower and lower. Arabs want the US to quit drilling. US wants the Arabs to quit drilling. They both keep at it.

[The Kraken]

Arabs have more oil and it's much cheaper to extract and refine. If thats the game they're playing, we will lose

[TheMoneyShot]

Funny how they say some energy companies might have to file bankruptcy. Sounds a little extreme.... just goes to show you how some top executives are WAY OVERPAID.

[TheMoneyShot]

Everyone can give their opinion on what's going on...

All of this is rigged as SBR Poker. No difference.

[Buffalo Nickle]

Tons of small companies got in the fracking biz with huge debt. I read for years that there was a massive fracking bubble. They went into the business based on $4 gas lasting forever so they have to keep drilling to pay that huge debt that got them in business. They want the Arabs to cut them some slack. Don't think it is going to happen.

[The Kraken]

Yep, I made and lost a lot of coin in Chk and SD

Both barely solvent now

More trouble brewing for frackers. Its imminent that fracking is about to be banned in the heartland of american oil and gas

[smitch124]

I wonder how Amby is doing, I know he was in that business.

[bettilimbroke999]

It's a crisis when there's too much oil and it's really cheap? That doesn't sound like a crisis that sounds like a surplus and a welcome one at that

[Otters27]

Game of chicken between Saudi and us.

[Scorpion]

Arabs have more oil and it's much cheaper to extract and refine. If thats the game they're playing, we will lose

http://russia-insider.com/en/business/us-shale-throwing-towel/ri12215

[The Kraken]

It's a crisis when there's too much oil and it's really cheap? That doesn't sound like a crisis that sounds like a surplus and a welcome one at that

Spoken like the fool we've come to expect

[bettilimbroke999]

Spoken like the fool we've come to expect

Ok jack it up to $6/gal then and fix the problem...but then of course you'll be bitching about how they're fleecing you...look SA can make the price whatever they want and shutdown US oil competition...they stick a shovel in the sand and out shoot a billion gals of oil....the US has to have much more expensive fracking operations in the middle of penetrate all nowhere North Dakota to get their oil

[The Kraken]

I ride a scooter pal, plus I'm holding CHK, so I would get semi-erect if I woke up tomorrow to $6/hr gas

[EmpireMaker]

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.

The GOP doesn't put that out in the press releases for the sheep.