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Democrats Just Accidentally Sparked A Federal Fracking Boom

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(edited)

1 hour ago, Rob Plant said:

https://oilprice.com/Energy/Energy-General/Democrats-Just-Accidentally-Sparked-A-Federal-Fracking-Boom.html

How high do you guys think oil prices will go if Warren is elected?

I'm certainly no expert here but it does directly affect my business, so value your thoughts.

Rob its been affecting my business for four years and many folks on this forum, personally the Industry will be better off on a whole if the LTO industry backs off and plays fair, lots of major companies have suffered because of LTO policies on financing and bad business practices.

LTO and Fracking is the target of all greenies so it will be first to suffer, offshore is out of sight out of mind.

 

Just my opinion

Edited by James Regan
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1 hour ago, Rob Plant said:

https://oilprice.com/Energy/Energy-General/Democrats-Just-Accidentally-Sparked-A-Federal-Fracking-Boom.html

How high do you guys think oil prices will go if Warren is elected?

I'm certainly no expert here but it does directly affect my business, so value your thoughts.

I would say there is pretty much zero chance Warren will get elected.

We'll have to wait for just over a year to see if I'm right but I bet I am.

The markets are balancing out the oil prices, the lack of investment will slow down shale growth and there will be less 'chancers' in the industry next year (many of them were got rid of in the last crash). There's a place in the market for shale oil but no one should want to see another massive boom and the mess it will create.

I doubt we're going to see much change in prices until the next OPEC meeting at best so might as well hibernate until then :(

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You have a greater chance of winning the Powerball lottery while driving the new Ferrari (which Al Gore bought for you) to collect your Pulitzer Prize for astrophysics than Warren has of being elected!

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1 hour ago, Douglas Buckland said:

You have a greater chance of winning the Powerball lottery while driving the new Ferrari (which Al Gore bought for you) to collect your Pulitzer Prize for astrophysics than Warren has of being elected!

Sure sounds like what a lot of people were saying about a certain someone in 2016...Obviously there are major differences, but it needs to be considered as a possibility. 

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Exactly. And some still moaning about it 3 years later.

#elected #votedlikebrexit

 

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6 minutes ago, ConorMcInerny said:

Sure sounds like what a lot of people were saying about a certain someone in 2016...Obviously there are major differences, but it needs to be considered as a possibility. 

Yep its a 2 horse race at the end of the day

I still cant pick a winner in those D'oh!

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2 hours ago, Rob Plant said:

How high do you guys think oil prices will go if Warren is elected?

First off I am not sure that fracking would be entirely banned, but that is probably a moot point anyway. There's plenty of oil in world to pick up the slack. 

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I wonder how many days worth of global storage are on the books as of now?

Could someone please look up the total global oil in storage and divide it by global daily demand and get back to me?

I was recently informed that I am incapable of reading, let alone interpreting, scientific data....so I don’t want to strain my feeble mind.

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43 minutes ago, ConorMcInerny said:

Sure sounds like what a lot of people were saying about a certain someone in 2016...Obviously there are major differences, but it needs to be considered as a possibility. 

All true! There is also a possibility that the Earth will experience a polar shift in the next 5 minutes, but I think I’ll just relax and finish my beer...😂

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5 hours ago, James Regan said:

Rob its been affecting my business for four years and many folks on this forum, personally the Industry will be better off on a whole if the LTO industry backs off and plays fair, lots of major companies have suffered because of LTO policies on financing and bad business practices.

LTO and Fracking is the target of all greenies so it will be first to suffer, offshore is out of sight out of mind.

 

Just my opinion

James, your business is a multi-billion dollar investment decision. LTO wells are multi-million dollar investment decisions. Your side is out of scale by 1000 times. That's what causes the suffering. I don't see a path clear to lower the costs offshore so you're still facing that mountain. 

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4 hours ago, ConorMcInerny said:

Sure sounds like what a lot of people were saying about a certain someone in 2016...Obviously there are major differences, but it needs to be considered as a possibility. 

To be honest it was perfectly obvious to me that Trump was going to both win the nomination and become president from the moment he announced he was going to run. It was baffling to me that the media continued to predict he would lose right up to the last minute.

Warren hasn't got a chance in hell, maybe Hillary will make a last minute bid lol

Next years going to be a lot of fun

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6 hours ago, Douglas Buckland said:

Could someone please look up the total global oil in storage and divide it by global daily demand and get back to me?

The point I was trying to make was that if fracking was banned OPEC and offshore would be happy to pick up the slack. 

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3 hours ago, Ward Smith said:

James, your business is a multi-billion dollar investment decision. LTO wells are multi-million dollar investment decisions. Your side is out of scale by 1000 times. That's what causes the suffering. I don't see a path clear to lower the costs offshore so you're still facing that mountain. 

Investment psychology is big part of this, yes.

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10 hours ago, Douglas Buckland said:

You have a greater chance of winning the Powerball lottery while driving the new Ferrari (which Al Gore bought for you) to collect your Pulitzer Prize for astrophysics than Warren has of being elected!

That is funny :)

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There are "journalists" who deserve an out of this world award for their out of this world "reporting" so it might as well be a Pulitzer for astrophysics. ;)

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I think that would be the Pulitzer Prize for ‘assholephysics’...

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16 hours ago, Rasmus Jorgensen said:

There's plenty of oil in world to pick up the slack. 

Not really. US tight oil represent ~7% of total and stop of D&C activity will `half it in one year. This would be on top of 6-8MM natural decline which needs to be compensated. There are places with perspective resources but it'll take years to match US level of infrastructure

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(edited)

20 hours ago, Douglas Buckland said:

Could someone please look up the total global oil in storage and divide it by global daily demand and get back to me?

it's 40-some days worth of fuel in Australia. Correction - 31 day

Art Berman tracks storage in US, not sure how reliable is world data. Roughly 3B

US: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPC0_VSD_NUS_DAYS&f=W

Edited by DanilKa
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