Saudi Arabia to lower oil prices, the houston boom is over

The is what Envormentalists have been aiming for and I want it too! Making Solar competitive!

**** oil.

 

I'm pretty sure all 4 of Houston major teams benefit from the industry. You're being short-sighted. Ef the Rockets and Texans!!

 

Short sighted!?! We've been kissing Arab ass for decades and when we can actually compete with our own energy people here are scared? Are you ****ing kidding me? The boom was great but this city can't sustain this massive boom forever. We don't have enough roads, houses or commercial property.

This isn't a time to panic. It's a time to evolve or die.

 

Well said.

 

All this sheet needs to wait another 20 years until I retire. The world won't break it's chemical dependence any time soon. Exxon, chevron and others are expanding in my area. Ain't worried bout nothing

 

The value added to oil from making refined and plastic products produces a lot more wealth than burning it.

(one of the reasons we should save the dirty polluting tar sands until it's the last source of feed stocks)

 

Russia needs oil at 120/b to break-even.

 

That's what people aren't understanding apparently. The cost to produce oil is different. Places like Saudi can stick a fork in the hole and oil spews out (exaggerating obviously). E&P companies lose hundreds of millions on exploration (dry hole expense). The price of oil matters in a big way. They need the revenue. They rely on the revenue.

 

goodbye Treasures..

 

Wow the November contract for crude down to $82 as I type.

 

You need more expensive oil to force people to look for alternatives. If oil is cheap then people will continue to use oil as their main source of energy. I don't think you see the big picture.

 

You're confusing two things here. If Saudi Arabia lowers oil prices then people will stop drilling for oil here. It's a great and noble dream to have clean renewable energy but we just aren't there yet. There needs to be a transition period. Gotta give those scientists some time.

Whatever your thoughts are on fracking it still costs a lot of money to get that oil out of the ground. There is a pricing floor where E&P companies can't make money. If they can't make money they'll stop their output. This in turn will keep the money flowing to Saudi Arabia. The Arab ass that you've kissed you will just have to keep on kissing.

The people who whine about people moving to Houston are also the people who whine that everybody disrespects the city. On one hand you ask people to evolve or die, on the other you can't face change yourself.

 

the prices aren't dipping due to a lack of demand due to alternative energy. saudi's have to lower their prices because the US is becoming oil independent. you're acting like our "own energy" isn't still oil.

 

Saudi can afford to do this bc their oil costs relatively nothing to pump out..

Shale margins are extremely low. Everyone and their mom knew this before they threw money at shale plays.. too bad now that's what you get for chasing gains with a short time horizon

 

Exactly, guys. Thanks for the clarifications.

 

I'm incredibly confused by your angst. If Saudi lowers their prices, you understand that we would DELAY our independence from them by continuing to buy from them correct?? And you also understand that American independence from Saudi isn't America moving AWAY from oil....it's just us producing our OWN?? I agree that Houston can't continue to sustain this level of boom (and I'm in the housing industry), but actively rooting for a Saudi price-drop is totally misguided.

 

Yeah, I honestly didn't understand what "we've been kissing Arab ass for decades and when we can actually compete with our own energy people here are scared?" meant.

 

and the clear-cut "moron of the thread" title goes toooooo........ REEKO!!!!

congratulations!

 

Except the US can't compete with Saudi. If Saudi says we are dropping oil prices to 50 bucks you would see the collapse of the shale play. Heck they could take all the money they have made, take out a huge short position on the O&G industry drop the prices and make a killing on their shorts which would kill investments in O&G which would destroy their competition and might make them stronger long term, and they could pocket the money they made on the short position.

 

they would lose billions