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

Discussion in 'BBS Hangout' started by da1, Oct 13, 2014.

  1. Dubious

    Dubious Member

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    I wonder if we have hit Peak Consumption? If economic issues and a changing view of carbon have reversed the 100 year trend?
     
  2. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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  3. MadMax

    MadMax Member

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  4. Tenchi

    Tenchi Member

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    I think you're right they were saying something like there was a zero chance that oil would fall below $80 awhile back. I think they are predicting $45 oil next year with a small chance of $20 but the media just picks it up as "$20 oil coming!!!!" Interesting how the media picks up on a narrative and runs with it.
     
  5. Invisible Fan

    Invisible Fan Member

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    There's that saying about the stone age not ending because we ran out of stones. I still remember a college course 15 years ago where the instructor said a simple calculation of current consumption rates with avg annual growth would require production from three more Saudi Arabia's for the as is scenario in the next fifteen years.fracking covered for one and I suppose the recession covered for another? Math still didn't add up...

    More likely is that the saying won't come true until we solve the on demand problem when it comes to renewables and either augment or disrupt the trillion dollar infrastructure the world has built to pipe, produce and distribute fossil fuel derived energy.

    Rising nations are rising...
     
  6. Mr. Brightside

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  7. fallenphoenix

    fallenphoenix Member

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  8. Chamillionaire

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  9. HR Dept

    HR Dept Member

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    LINK
     
  10. rage

    rage Member

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    "Interesting" article shown together with all the layoff posts.
     
  11. Air Langhi

    Air Langhi Contributing Member

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    Well if the companies have already sunk so much capital on the drilling , The only thing that matters is incremental costs. If incremental costs drilling > price of oil they will keep drilling, but new drilling won't start.
     
  12. rage

    rage Member

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    In the surface it may seem like that but by drilling more, they will cause price to drop further.
     
  13. rage

    rage Member

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  14. ryan_98

    ryan_98 Contributing Member
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  15. smr6

    smr6 Member

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    Wife's company just had large layoffs, she is safe for now though. There's a good chance might company might start early next year once our hedges come off.
     
  16. sammy

    sammy Member

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    That ish was click bait anyway. A lot of people are following prices on a daily basis.
     
  17. ryan_98

    ryan_98 Contributing Member
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    http://www.businessinsider.com/oil-is-spiking-2016-1
    any thoughts on where prices (and houston's economy) go if this thing escalates?
     
  18. Air Langhi

    Air Langhi Contributing Member

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    Saudi's cost of production is much less than texas. They have a structural advantage. There is no way for Texas to beat saudi at making oil.
     
  19. RedRedemption

    RedRedemption Member

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    Unless OPEC makes a move on SA.
    Saudi Arabia may have enough money to survive the long-term glut, but what about the other members of OPEC?
     
  20. FTW Rockets FTW

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    Hope you got hooked up man. I remember you mentioning you fell victim of the oil and gas economy.
     

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