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Title: So much for running out of OIL!
Source: [None]
URL Source: [None]
Published: Dec 14, 2015
Author: Me
Post Date: 2015-12-14 09:04:14 by Justified
Keywords: None
Views: 1990
Comments: 20

I remember people claiming we were running out of oil. That we have reached "peak production".

Oil just broke the $35 a barrel with no end in sight of slowing production!

Saudi's have declared war on America. They will destroy shale oil business because its kicking their butt. America was independent of its grip for the first time in my life time. Obama is happy big little oil is getting raped by the Saudi's.

I believe oil can be drilled for $30 a barrel and break even.

I believe oil can be pumped out of the ground for $14 a barrel and break even.

Get ready to see defaults in the small oil companies because $25 a barrel is coming.

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Begin Trace Mode for Comment # 13.

#13. To: Justified (#0)

"peak production"

It is a FACT because most oil has been mined and consumed that was relatively easy and efficient to bring to the markets. What you are witnessig is a temporary phenomena in technology that will eventually wither away, too.

Moreover, OPEC has glutted the market with oil just to break any and all new technologies that America has created to produce oil. This marketing force drives prices down, so much so, OPEC is not creating the profit margins they used to.

buckeroo  posted on  2015-12-14   21:14:18 ET  Reply   Untrace   Trace   Private Reply  


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