Aces High Bulletin Board
General Forums => The O' Club => Topic started by: oakranger on October 27, 2008, 10:05:15 AM
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gas is $2.17 in Augusta, ks, i will be shock if i see it below $2.00. I bet there are a lot of people who are pissed now since they spend $10,000s to $100,000s to drill for oil when it was over $100.00 a barrel.
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Try millions....
Race
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Try millions....
Race
is that what it cost for me to drill one well on my land?
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Hey, guess what? OPEC has decided to cut oil production by 1.5 million barrels a day to get them prices back up! Sorry, no link. Just saw it on CNN 20 minutes ago.
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Hey, guess what? OPEC has decided to cut oil production by 1.5 million barrels a day to get them prices back up! Sorry, no link. Just saw it on CNN 20 minutes ago.
Humm, they must be getting short on money to buy that $20 million house.
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If you do not own the mineral rights to your land and build a well there the folks who DO own the rights will take the oil after you paid to drill for it.
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Texas Tea!
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Black gold
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If you do not own the mineral rights to your land and build a well there the folks who DO own the rights will take the oil after you paid to drill for it.
Yea, but they really mess up your land.
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you all suck with low prices.
Milwaukee suburb I paid $2.89 yesterday still. I keep hearing about these low prices, just don't get to see them here.
then again the Milwaukee area has ever since the EPA mandated reformulated fuel been in competition for the highest prices in the nation.
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you all suck with low prices.
Milwaukee suburb I paid $2.89 yesterday still. I keep hearing about these low prices, just don't get to see them here.
then again the Milwaukee area has ever since the EPA mandated reformulated fuel been in competition for the highest prices in the nation.
What r u whining about, look at the west cost.
http://www.gasbuddy.com/gb_gastemperaturemap.aspx (http://www.gasbuddy.com/gb_gastemperaturemap.aspx)
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Hey, guess what? OPEC has decided to cut oil production by 1.5 million barrels a day to get them prices back up! Sorry, no link. Just saw it on CNN 20 minutes ago.
Didn't work.... Crude closed lower again.
Several facts actually work against OPEC.
First; OPEC represents only 40% of the oil producing nations.
Second; many in OPEC cheat on the quotas, pumping more than they agreed to.
Third; Iran and Venezuela are the two members most hurt by sub $70 crude (cry me a river).
Fourth, higher prices will only drive down demand more, soon resulting in even lower prices down the road.
Fifth; $140 oil contributed in no small measure to the current world-wide recession.
Sixth; $140 oil has pushed western nations further towards alternate fuels and technologies, which will drive down demand even more in coming years.
Seventh; The US has at least 2 trillion barrels of shale oil in the ground in the plains and upper plains. That's enough for future US needs for at least 200 years (but remember, demand for crude will drop considerably in the US over the next decade). This oil is expensive to extract, but it's there and getting it out of the ground in considerable quantity would take between 5 and 8 years. This excludes about 400 billion barrels known to exist offshore or up in ANWR, and who knows how much is not yet discovered.
OPEC will gain nothing long-term by cutting production. This realization is dawning on them as they announce production cuts and the price of a barrel of crude still drops. Some economists believe that the global recession will continue as long as 5 years. If that is accurate, don't expect any major increase in oil prices for at least 7 years (excluding some vast natural disaster or a major war). Oil as the predominant fuel sang its swan song this year. OPEC's party now has a curfew.
My regards,
Widewing
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Snip
Wonder if opec can eat that oil? :)
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If you do not own the mineral rights to your land and build a well there the folks who DO own the rights will take the oil after you paid to drill for it.
Yes if you don't own the M,R,'s you will still get the Surface Rights or S,R,'s As we call them. And it cost around $800.000 to $150,000,000 to JUST drill a well that's the first part then you have work over units to come out and the FRACK a low FRACK cost around $600.000 the highest Ive seen is $220,000,000 that was a Shell job in WY.
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Mustaine....HA!
Dropped to $3.99 over the weekend up here. No laws against gouging up in the final frontier.
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its at 2.40 in southwestern alabama
God i love being in the country
no laws against shooting guns,
having bonfires, loud noise ordinances,
driving whatever u want without emissions tests(hah california)
and ur nieghbors live a half mile away
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AVGAS is still over $5.00. JP-4 is $6 plus.
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$3.53 pg regular unleaded; $4.33 pg Diesel.
Of course that's better than $4.53 pg unleaded & $5.50 diesel....prices we had 1-2 months ago. This coming from a Major oil producing state, not to mention an oil refinery not more than 14 miles from my front door :mad:
<S> from Fairbanks, Alaska....where we ship all of our oil, and it's products out of state...........THEN.....have all fuels shipping back in from the lower 48 to supply the state...... :huh Go Figure :furious
<S>