Yep. Shuts down the oil sands (for a bit), slaps Russia/Venezuela in the face, cranks down on the mid-tier producers like Nigeria trying to squeeze into the market, etc. It's multiple birds with one stone. US oil production will drop, oil sands bubble will pop, and all sorts of gloom and doom until prices naturally go back up and we spin up production again. The oil guys will take a hammering and I feel bad for them, but all bubbles burst. A lot of Americans will have a net benefit. Macroeconomics is complex.
On Tue, Jan 13, 2015 at 8:40 PM, Jason McKemie <[email protected]> wrote: > From what I've read the drop is pretty much exclusively because of OPEC. > > > On Tuesday, January 13, 2015, Erich Kaiser <[email protected]> > wrote: >> >> I think a lot of the low prices are due to abundance of oil right here in >> the US from Fracking and Tar sands from Canada. I bet eventually when the >> additional pipeline capacity is completed it may drive things even lower, >> but that is just my thought. >> >> It would be nice if they could do the same with grain. >> >> >> On Tue, Jan 13, 2015 at 12:53 PM, That One Guy <[email protected]> >> wrote: >>> >>> I dont know how petroleum stores, the costs of operating, etc. But I look >>> at it as right now being a great time to get in on it, when the rubber band >>> snaps, you would already be at peak production capacity, without the export >>> and shipping to get it to its destination, in North America at least. This >>> is an artificially deflated market, it cant be sustained since it is >>> inherently and artificially inflated market. >>> >>> On Tue, Jan 13, 2015 at 12:19 PM, CBB - Jay Fuller >>> <[email protected]> wrote: >>>> >>>> >>>> The investment has already been made to build the wells. I know it >>>> would suck, but why not shut them down until the price goes up again, then >>>> just resume production? Even under new ownership? Doesn't sound like a >>>> permanent problem to me... >>>> >>>> >>>> ----- Original Message ----- >>>> From: Bill Prince >>>> To: [email protected] >>>> Sent: Tuesday, January 13, 2015 10:23 AM >>>> Subject: Re: [AFMUG] Gas Prices >>>> >>>> It's Saudi Arabia trying to squeeze out all the marginal producers. >>>> Initially it will be Russia and some of the other marginals like Iraq & >>>> Iran. >>>> >>>> Pretty sure the shale oil and tar sands guys are hurting big time right >>>> now. >>>> >>>> bp >>>> <part15sbs{at}gmail{dot}com> >>>> >>>> On 1/13/2015 8:03 AM, Chuck McCown wrote: >>>> >>>> I wonder what is really driving the price down. Fracking, OPEC >>>> diaspora, CAFE improvements, Russia problems ??? >>>> >>>> From: Jeremy >>>> Sent: Tuesday, January 13, 2015 8:54 AM >>>> To: [email protected] >>>> Subject: Re: [AFMUG] Gas Prices >>>> >>>> Thanks Obama! (he gets blamed for EVERYTHING, right??) >>>> >>>> On Tue, Jan 13, 2015 at 8:41 AM, Josh Luthman >>>> <[email protected]> wrote: >>>>> >>>>> Same up here in Ohio. >>>>> >>>>> Josh Luthman >>>>> Office: 937-552-2340 >>>>> Direct: 937-552-2343 >>>>> 1100 Wayne St >>>>> Suite 1337 >>>>> Troy, OH 45373 >>>>> >>>>> On Jan 13, 2015 10:35 AM, "joseph marsh" <[email protected]> >>>>> wrote: >>>>>> >>>>>> 1.75 here in my area >>>>>> >>>>>> On Jan 13, 2015 9:35 AM, "Vlad Sedov" <[email protected]> wrote: >>>>>>> >>>>>>> $1.50 to $1.55 in oklahoma city.. crazy. >>>>>>> >>>>>>> vlad >>>>>>> >>>>>>> On 1/13/2015 9:32 AM, Travis Johnson wrote: >>>>>>>> >>>>>>>> I never thought I would see gas prices this low. We have stations at >>>>>>>> $1.71/gallon in our area right now. :) >>>>>>>> >>>>>>>> Travis >>>>>>> >>>>>>> >>>> >>>> >>>> >>> >>> >>> >>> -- >>> All parts should go together without forcing. You must remember that the >>> parts you are reassembling were disassembled by you. Therefore, if you can't >>> get them together again, there must be a reason. By all means, do not use a >>> hammer. -- IBM maintenance manual, 1925 >> >> >
