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#Post#: 18030--------------------------------------------------
Plummeting oil prices and the coming recession?
DIR By: rapids_60
Date: December 2, 2014, 1:35 am
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HTML http://www.thetruthaboutcars.com/2014/12/ur-turn-truth-oil/#more-954385
Interesting article.
In a nutshell, oil prices have fallen close to the tipping
point where building new fracking operations is not profitable.
The Saudis have decided to wait it out and not cut production,
causing oil prices to head downward even faster.
Typical fracking well life is 1-2 years.
When current wells are exhausted (in 1-2 years), oil prices will
skyrocket again, unemployment will rise (40% of the private
sector jobs created are in oil/gas industry?) and a recession
will follow.
Meanwhile gasoline futures dropped under $2 today. :D
#Post#: 18032--------------------------------------------------
Re: Plummeting oil prices and the coming recession?
DIR By: Notso
Date: December 2, 2014, 9:25 am
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Me thinks this guy is overthinkin things. Even when most
powerful OPEC took a year to agree to restrict production, then
another year to identify member cheaters and try to enforce
limits. Same old same old.
Commodities have always been a boom and bust kinda thing. Lower
prices will force high debt producers to sell at some price
allowing the buyer to take advantage of price and the technology
gains to be successful. With technology reducing the price of
shale drilling between 15% and 25% per year, won't be long til
it's back. Can't fight science.
#Post#: 18035--------------------------------------------------
Re: Plummeting oil prices and the coming recession?
DIR By: trollslayer
Date: December 2, 2014, 10:21 am
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According to this article, a fracking well can last "decades, up
to 40 years"
HTML http://shaleshock.org/drilling-101/
#Post#: 18039--------------------------------------------------
Re: Plummeting oil prices and the coming recession?
DIR By: rapids_60
Date: December 2, 2014, 11:28 pm
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--- Quote from: trollslayer link ---
>
> According to this article, a fracking well can last "decades,
up to 40 years"
>
HTML http://shaleshock.org/drilling-101/
>
--- End Quote ---
Boy did you pick a treehugger website. Will you be attending
the "People's Climate March"? :D
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