$2 / Gal Gasoline as OPEC tries to kill US Fracking.....

[Road Guy]

http://www.foxbusiness.com/industries/2014/12/01/happy-holidays-from-opec-will-gas-drop-to-2/

So the rumor out here in Fracking Country is that OPEC is pissed at the dent that US Oil (via fracking) is casuing them so they are flooding the worlds oil market with cheap oil to starve out US Oil companies. Apparently fracking is much more expensive than drilling it through the desert and is only profitable at $75/ Barrell

 

[Ken PE 3.1]

That will probably do the trick.

 

[csb]

That's why fracking died in the early 80s.

 

[knight1fox3]

That's why fracking died in the early 80s.

Are you fracking kidding me?! :huh:

 

[csb]

Err...let me clarify. This is why Western Colorado fracking died in the early 80s, causing those towns to bust. It's back, but I'd hazard that we've been down this fracking extravaganza in the 70s and then oil got cheap in the 80s.

Those who cannot remember the past are doomed to some crap that guy said.

 

[csb]

Oh, let me backup. I meant oil shale. Sorry. Had my energy extractions confused.

 

[Road Guy]

http://money.cnn.com/2014/12/02/investing/oil-fight-opec-us-shale-boom/index.html?hpt=hp_t2

this is saying that fracking stays profitable down to $42 / barrel.. That would pretty much shut down the Saudi's ..

Hell I would love to do anything that screws over the middle east oil production/ South American &/or Russian Oil production and causes us to pay $1.50 a gallon again...

However I am sure our politicians will somehow fuck this up for us all

 

[csb]

At a $1.50 a gallon, I might buy a car*.

*$1.50/gal in the Rocky Mountain Region

 

[engineergurl]

I remember back when gas wasn't even a $1 a gallon

 

[snickerd3]

I remember back when gas wasn't even a $1 a gallon

this. 1999-2000 it was floating around 99 cents a gal. about the time I got a car full time at college.

 

[engineergurl]

I remember back when gas wasn't even a $1 a gallon

this. 1999-2000 it was floating around 99 cents a gal. about the time I got a car full time at college.

same here, I took the car with me for the first time in the spring 1999 semester and 99 cents seemed expensive, lol

 

[Road Guy]

I remember back when gas wasn't even a $1 a gallon

I was trying not to jinx it!

If gas even goes to $1.50 a gallon It will save me at least $40 a week in gas...

 

[Flyer_PE]

I'm all for anything that results in not having to swipe the card twice at the pump to fill up my truck.

 

[Dleg]

Oh, let me backup. I meant oil shale. Sorry. Had my energy extractions confused.

It's the same thing, I think - the big fracking boom now is extracting oil and gas from shale formations. The difference in price from the 80s is because they figured out how to do it less expensively.

F' OPEC, I say. Shut off their imports to the US.

 

[snickerd3]

down to $2.59 a gal here this morning!!!!

 

[engineergurl]

down to $2.59 a gal here this morning!!!!

lol... you must have high taxes... ours have been around $2.40 and below since last week...

 

[snickerd3]

we do! IL has many gas taxes on top of the city and state.

 

[NJmike PE]

$2.57/ gal here in the armpit

 

[Slugger926]

Only a fraction of the wells need $70 or more to be profitable. Majority are at least above $40, and quite a few can drop to $12 and still be profitable. From what I am gathering, small seems that used to be ignored in the 80's are now very profitable.

The truth may be a global effort against Russia.

 

[goodal]

i paid 0.88$ once in 1998 in west KY. Cost about $12 to fill up the old celica.