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Oil Prices, Energy Trends & What Comes Next

I have said it from the start. They predicted 20, 30 even 40 years. Those people are just insanely over confident and optimistic. You can only place so many oil wells before you don't need anymore and can only pump so much before we don't need to keep adding more and more. You can also only build so much before things even out and then bust.
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I'll just leave this here since I knew it...I KNEW IT. I posted this when this thread started last year. From the start and when people would say it would last so long I knew it wouldn't. Don't get me wrong I wold love it to be better for those that have jobs and make money from it(those I care about anyway) and also since I don't want to live in a run down bust town but it's how it is.

 
She's going down captain!
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This morning, it's down another dollar, or 2.4%.Next Few Weeks Will Reveal Full Extent Of Oil Industry Suffering | OilPrice.com

Analysts are saying there may be a sizable fallout effect about to come that displays a fuller extend of the oil slowdown. Some companies hedged themselves at higher prices, so those were able to stay above, but with the longevity of this, they may not be able to do that for long. Also with the next quarterly earnings coming, it may look much worse than it has ever before for many companies.

 
You know what's funny, some also blame some of this on a stronger dollar (of course along with production and demand)....remember when the strong dollar used to be good? Gee, I really want a weakened dollar I guess...?? Just like gas prices at the pump, that used to be good for the economy too, more money for the average person in their pockets, but no, now it's bad for us. This is what happens when we become too dependent on something, whether it's good or bad. It's like addiction, the longer someone becomes dependent on that addiction, the more they need it. And if they come off it, they get the shakes and become crazy.
 
You know what's funny, some also blame some of this on a stronger dollar (of course along with production and demand)....remember when the strong dollar used to be good? Gee, I really want a weakened dollar I guess...?? Just like gas prices at the pump, that used to be good for the economy too, more money for the average person in their pockets, but no, now it's bad for us. This is what happens when we become too dependent on something, whether it's good or bad. It's like addiction, the longer someone becomes dependent on that addiction, the more they need it. And if they come off it, they get the shakes and become crazy.
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The shakes and crazy is becoming the new American way.

 
Oil company defaults are coming.

Even those who believe oil prices are going up sound negative about the energy sector.Oil would go up because "you have crazy people in control of that market," said Tim Gramatovich, co-founder of Peritus Asset Management. He indicated he was referring to Vladimir Putin and Russia's role as one of the world's largest energy producers.
Related: Chinese company buying Texas oil fields

But Gramatovich believes there are "tons of value traps" in shale oil projects right now.



"Stay away from tight oil and some of these Bakken areas where you have distressed prices. You're going to end up with dry rocks in North Dakota. It's not a good asset," he said.
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No No NOOOO... This is why mineral rights are bull shit. We can't be "the one with the most oil at the end" with these jack assess selling oil fields.*shakes head*
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This is never a good thing, allowing foreign countries to own a large piece of core infrastructure. I say this with the thought in mind of America owning anything in other foreign countries too. It gives them more leverage that could lead to lots of things.

 
I think most of our major companies are owned by foreign countries. Even most of our beer companies are owned by foreign companies.
 
I think most of our major companies are owned by foreign countries. Even most of our beer companies are owned by foreign companies.
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The key phrase here is "Multi-National."Either way, its not Joe down the road.

 
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