Gas prices

[Strychnine]

WTI is at $81.84 today.

[ram57ta]

Filled up the Grand National in Duncanville earlier tonight with Super Unleaded...for $2.99/gal. Regular was $2.79 a gallon. It can keep going down.

[87t-coupe]

This is not to say that every well is unconventional, but it gives an idea of break-even numbers (last fall).



But remember that the margin also has to pay for exploratory drilling and other things. Not all wells make money.


Other sources say this:






Not US, but some visibility:

http://www.petroleum-economist.com/A...rice-fall.html

We drill into the niobrara and a formation called the cordell basin here in Colorado. From what my driller has told us is if the price per barrel drops below $70 we are out of a job. I love to see cheaper gas but now that im in this industry it scares me.

[Captain Crawfish]

Was the global economy shit when gas was $1-2 per gallon?

In January 09 our economy was in terrible shape. Fuel was cheap but you only needed it if you had a job

[Captain Crawfish]

Low oil/fuel prices do have a positive impact on the economy but they will also have a negative impact on the Texas economy. One of the biggest reasons we've done as well as we have since 2008 is because of the oil and gas boom. When oil hits $80 we will see almost all fracking production come to a halt. That will have a negative impact on us all...

In the long term I think $80-90 is a reasonable price. It will be good to get all the speculators out of the market. It is just unfortunate that we can't get our politicians to do something to keep speculators reigned in so they won't drive prices up like they have. IMO all they have to do is tell them they have to take delivery of their contracts. That would pretty much kill it dead.

There is nothing wrong with buying selling oil. As you see it works both ways they can drive it up or down. Govt has no biz ness meddling in oil trading

[Big Dad]

Paid 2.79 today ,expected to go below 2.65 next couple weeks

[Sgt Beavis]

yep 2.70-80's according to futures for Nov. The only question to ask is the health of the overall GLOBAL picture. If fuel prices are weak whats that say for the global economy?

Was the global economy shit when gas was $1-2 per gallon?

Low oil/fuel prices do have a positive impact on the economy but they will also have a negative impact on the Texas economy. One of the biggest reasons we've done as well as we have since 2008 is because of the oil and gas boom. When oil hits $80 we will see almost all fracking production come to a halt. That will have a negative impact on us all...

In the long term I think $80-90 is a reasonable price. It will be good to get all the speculators out of the market. It is just unfortunate that we can't get our politicians to do something to keep speculators reigned in so they won't drive prices up like they have. IMO all they have to do is tell them they have to take delivery of their contracts. That would pretty much kill it dead.

[2011GT]

yep 2.70-80's according to futures for Nov. The only question to ask is the health of the overall GLOBAL picture. If fuel prices are weak whats that say for the global economy?

Was the global economy shit when gas was $1-2 per gallon?

[cool cat]

4.45 in Kauai.

[68RR]

2.80 here in Tulsa.

[snacksnack]

Paid $3.25 for diesel yesterday.

couldn't believe my eyes when I saw diesel that cheap!

[David]

Paid $3.25 for diesel yesterday.

[Captain Crawfish]

Under $3 now

yep 2.70-80's according to futures for Nov. The only question to ask is the health of the overall GLOBAL picture. If fuel prices are weak whats that say for the global economy?

[inline 6]

Dick licker. Sure I can stoop down to your level. CC Jousting at 2am.

nice, I could go for 2 tacos after.

[Trip McNeely]

Cock sucker, you want to go on or just cut the shit and meet at jitb?

Dick licker. Sure I can stoop down to your level. CC Jousting at 2am.