ryanator Posted October 16, 2014 Share Posted October 16, 2014 I've been reading more and more about a potential oil bust, especially right here in the Bakken. It's simple economics, the Bakken is very expensive to drill, costing $70-90 per barrel, doesn't leave much room when a barrel of oil is going for right below $82 right now. Some forecasters are saying that's just the beginning. If a barrel goes below $80 for several months, the drilling will subside significantly which in turn means the business associated with oil (which is heavily depended upon up in North Dakota) will slow and even go away. This could be reality in just a few years (some say significant impacts next year), not initial optimistic hopes of 30, 20, or 10, maybe not even 5. There may be a lot of huge cheap houses around here soon... 1 Link to comment Share on other sites More sharing options...
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