I think it's closer to $70/bbl that many of the idled wells will go back into operation.
However if the price gets high again 100+ you will see increase in production again.
I think it's closer to $70/bbl that many of the idled wells will go back into operation.
I don't doubt it. The Saudi's have been very surprised that the Shale Oil has kept pumping below $50 barrel.
$2.09 this morning at my local Arco.
Never heard of Arco so looked them up.
They charge 35 cents to use a debit card, wow
Why is there a 35 cent convenience fee for the use of PIN debit cards?
In an effort to balance our customers need for convenience and value, PayQuick terminals are available on our islands. PayQuick® is an easy way for customers to pay for their gas using cash, debit cards, PumpPASS or GasPRO Plus Cards. There is a 35-cent processing fee for debit cards only, in addition to any fees your bank may charge for this service. For all other transactions there are no additional fees. This allows our customers the flexibility of using a debit card.
*This 35 cent convenience fee is the amount ARCO® and ampm® charge for debit transactions. The amount of this convenience fee may change from time to time without prior notification.
Are there ARCO stations throughout the United States?
ARCO gasoline stations are only located in five western statesArizona, California, Nevada, Oregon and Washington. If you are planning to visit any of these states or want to find the closest ARCO station in your area, check the Station Locator.
Why dont most ARCO stations accept credit cards?
Most ARCO stations do not accept credit cards because there are additional fees from the credit card companies on each gallon of gas you buy.
Goldman sees high risk of oil prices dipping further; likely to hit $20/barrel
Goldman Sachs said on Thursday it sees a high risk of oil prices declining further on the back of OPEC's decision to maintain high output and a continued build in European refined products stocks.
The high financial stress being faced by oil producers due to the low oil price environment can halt oil surplus by the fourth quarter of 2016, mainly through declining U.S. oil production, the bank said.
However, Goldman said the required rebalancing of the oil market is still far from achieved partly as the U.S. rig count and production guidance remain too high for the required supply decline.
"Financial stress may prove too little too late to prevent the market from having to clear through operational stress with prices near cash costs to force production cuts, likely around $20 per barrel."
The European gasoil storage capacity could quickly spill over into further crude oil price declines, Goldman said.
OPEC members failed to agree on an oil production ceiling on Dec. 4, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions.
Oil slipped towards an 11-year low on Thursday, dented further by a seemingly relentless build in oversupply, and as the dollar strengthened after the U.S. Federal Reserve raised interest rates for the first time in nearly a decade.
OMG!!!! How did Dave miss this article?
http://economictimes.indiatimes.com...ely-to-hit-20/barrel/articleshow/50220878.cms
Good, burn all this fossil fuel as fast as possible, if given a the choice humans will never change, it has to be forced on them. Once Dave is done burning gas in his 6000 SUX we can move onto better cleaner energy.$200 oil and $10 gasoline will be considered normal:
12-18-2015
http://news.yahoo.com/congress-votes-lift-40-us-oil-export-ban-170932768.html
Congress lifts 40-year oil export ban
The measure was included in a massive $1.1 trillion spending bill that easily passed Congress and now heads to the desk of President Barack Obama for his signature.
With the end of the ban, all 9.2 million barrels produced in the United States a day and the 490.7 million barrels stockpiled commercially are available for export.
$200 oil and $10 gasoline will be considered normal
$200 oil and $10 gasoline will be considered normal:
12-18-2015
http://news.yahoo.com/congress-votes-lift-40-us-oil-export-ban-170932768.html
Congress lifts 40-year oil export ban
The measure was included in a massive $1.1 trillion spending bill that easily passed Congress and now heads to the desk of President Barack Obama for his signature.
With the end of the ban, all 9.2 million barrels produced in the United States a day and the 490.7 million barrels stockpiled commercially are available for export.
So invest in oil and gas futuresA friend I used to work with that left Telecom to go work in North Dakota who was laid off in the beginning of the year already got the phone call to come back to work. They told him oil & gas prices will be going through the roof.
A friend I used to work with that left Telecom to go work in North Dakota who was laid off in the beginning of the year already got the phone call to come back to work. They told him oil & gas prices will be going through the roof.
I guess the owners of the gas station I use the most must not of gotten the word as they just lowered their price yet again. The Sunday before Christmas of all days I'm sure Dave will be reporting the 30 cent a gallon jump in price today or tomorrow.
12-21-2015 Oil at $34 , Permian Basin drillers say they will have to shutter all drilling operations.
Report: US Oil Drillers Added Most Rigs Since July
Reuters
Monday, December 21, 2015 - 7:28am