$80 seems to be the magic number on domestic oil.
MGLICKER
Posts: 7,995 ✭✭✭
I will defer the subject to others with more knowledge.
Seems though that Bakken Shale and fracked petroleum is expensive to produce relative to the Middle East stuff.
What are the implications as WTI closes at under $88?
*Wonder if the fed will feel the need to juice prices on other consumer goods to make up for the slackening barrel prices. Seems to be the MO for the last decade.
Seems though that Bakken Shale and fracked petroleum is expensive to produce relative to the Middle East stuff.
What are the implications as WTI closes at under $88?
*Wonder if the fed will feel the need to juice prices on other consumer goods to make up for the slackening barrel prices. Seems to be the MO for the last decade.
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Exit bunker, enter Matrix. LOL
Oil must be a new precious metal I had never heard of before......
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Cool.
Oil must be a new precious metal I had never heard of before...... >>
Black Gold....Texas Tea.
You need a refresher on the Beverly Hillbillies, Bochi!
<< <i>Several months ago I read that the Saudi's need $100 oil to maintain the new programs that kept the House of Saud from falling during the Arab Spring. >>
Saudi Arabia Goes Rogue, Risking Oil Price War
Exit bunker, enter Matrix. LOL
<< <i>
<< <i>Several months ago I read that the Saudi's need $100 oil to maintain the new programs that kept the House of Saud from falling during the Arab Spring. >>
Saudi Arabia Goes Rogue, Risking Oil Price War >>
Good link, Derry.
""It is estimated that shale oil production in North Dakota and Texas require a minimum of $70 to $80 a barrel to operate profitably. Any dramatic price decline as occurred in 1986 would put those operations in serious jeopardy'''.
The magic number is in fact 3. schoolhouse rock