19 US Shale Areas That Are Suddenly Endangered, “The Shale Revolution Doesn’t Work At $80”

Enjoy the sub $3.00 gas prices while they last. The Saudis know what they are doing. Oil was $25 per barrel and gas prices were below $2.00 when the Saudis took down the twin towers. Know your enemy.

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Westcoaster
Westcoaster

Fuck all these oil maggots & the Saudi’s. Ruining America’s water table daily and at least one state has made it illegal to divulge what terrible shit is in the “injection fluid”. Great way to serve the public, eh?

John
John

Oil maggots? Seems to me that providing a product demanded by hundreds of millions of Americans is at least a reasonable business model, and not in the least maggoty.

As far as “serving” the public, that isn’t part of the articles of incorporation of any for profit that I have ever heard of, so it seems bit unfair to pretend that this should be a guiding principle somehow.

If you want to stop oil and gas companies, the best way to do it, and one completely within the control of individual citizens, is to just stop using their products. Tell them thanks,but no thanks, and move along. Anything else is just participating in the scheme, and doing so allows no real room to then pretend it is someone else’s fault as you, and I and others drive, fly, wear petroleum byproduct clothes, heat our homes, put rubber tires on our bicycles, or do all those other things that encourage the previously mentioned business models.

A pledge for those trying to put a dent in big oil! Go Amish or go home!!

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Frenchie
Frenchie

Saudis, like others, just obey to uncle sam. today’s oil prices just reflect the pissing contest between the US and Russia. US just try to recycle the old reagan tactic that implies to drive the oil prices low to cut russian’s profits. this is made this time via the banksters.
but… americans shot themselves in the foot, because russians already insured they could sell their products at a fixed price to China, not to mention they can increase production as they want.

Putin 1
Obama 0

John
John

Oil prices reflect all sorts of things. Geopolitical pressure and machinations is certainly one of them, as are the products demanded from the refining of a particular commodity. We the people could negate the entire scheme of geopolitics by just deciding to go do something else, change our behavior, live closer to work and sacrifice the need for that 4 wheeled monstrosity, take the bus, insulate the house, pretend that our energy decisions MATTER…because they do.

The Amish lifestyle is certainly one excellent solution, but obviously not for everyone.

Here is another…telecommute. If you must, keep an EV around for local transport. Don’t travel the globe if you don’t have to. Live in a place that matches your desire for cultural and events that make you happy so you don’t have to travel much. Near a city possibly, near mountains and woods perhaps, certainly you could live IN a city if you prefer that lifestyle, or near one if you would prefer to be just at the outer range of the influence of those who prefer the company of other sheep.

It doesn’t matter to me in the least, but I find it difficult to listen to sheeple opinions advocating sheeple ideas when that sort of nonsense is most of the reason the country is in a mess.

John
John

There never was a US shale miracle. It was just some sales pitch invented by the media to explain what petroleum geologists have known for a century…there was oil and gas in the source rock from which it was generated. The problem was always price, and by extension the technology that this price enables.

Price allowed one to happen, and the result as the industry developed the most highly productive sweetspots was the fastest growth in American oil production…ever. While the magnitude of the result of $100 oil might have bee surprising, certainly the fact that there is plenty of oil around to develop is not.

So what will happen next is this…the less efficient operators will lay down rigs. Less work will cause service companies to clear their existing backlog (230 days spud to completion in the Williston Basin) and begin competing on a cost basis for business with the more efficient or well placed (acreage wise) operators.

At some point, as supply rebalances against demand, the rate of growth as rigs are picked back up again will allow some, but not all of the cost reductions to stick. Hard to say how much at this point.

The good news in all of this is that once prototyped in the US, the technology for a given price can theoretically be applied to formations such as the Bazhenov in Russia. The question THEN will be…does Russia develop the shales, or continue develop of undiscovered conventional production, or reserve growth in existing conventional fields? That choice will be interesting, but probably won’t show up for a decade or more.

Welshman
Welshman

I wonder the outcome of this economic war we have declared on Russia. I hope the U.S gets its
economic ass taken down a notch or three. This whole mess we started in the Ukraine was absolutely none of our business, and we go there and stick our finger in Russia’s eye.

Ukraine is a morally and financially bankrupt nation, and why does Europe and the U.S want to have the outdated NATO goon platoon babysit this basket case is beyond me.

I think Russia, while hurting, can do better with 65. barrel oil that we can with shale oil.

John
John

Russia is a one trick pony when it comes to its economy, the US is not. The price of oil weighs nearly as heavily on them as it does Saudi Arabia and Venezuela. It has been referred to in the past as “the resource curse” and very few have escaped it. Norway being a notable one.

Certainly the development of shale oil was happening at prices far below $65/bbl back during the early Devonian shale booms in Ohio…in the late 1800’s. It has only been noticeable as of late because of the early inoculations against energy imports during the energy crisis of the 70’s.

Back when the peak oil half wits FIRST began spouting off on topics they know little about.

Hollow man
Hollow man

Well. There goes the boom to bust. Unemployment from 5 percent to 15 percent in this area. But at least we will have water. Can’t afford food or a overly expensive home. Oh wait Obama will take care of us. FUBAR. Yeeeee. Haw

Hollow man
Hollow man

Well. There goes the boom to bust. Unemployment from 5 percent to 15 percent in this area. But at least we will have water. Can’t afford food or a overly expensive home. Oh wait Obama will take care of us. FUBAR. Yeeeee. Haw. Lived in oil country all my life. Nothing new to see. It is just a bust cycle. Cops and fireman will be busy. Been laid off and hired again. Struggled to pay bills and had plenty. Saved money had to spend it all in the bust. Life is a bitch sometime others a little better. Just keep moving.

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