Any other questions?
It is also quite amazing that the United States second largest natural gas producer spent $1.3 billion more in drilling and completion costs than they received from cash from operations
We arrive at their Free Cash Flow by subtracting the Capital Expenditures from the Cash From Operations.
I am surprised that you don't understand CASH FLOW STATEMENTS. The Consolidated Statements of Operations which provide Net Income, do not include CAPITAL EXPENDITURES. To understand how well a company is doing, we must find out their FREE CASH FLOW. We arrive at their Free Cash Flow by subtracting the Capital Expenditures from the Cash From Operations
LOL... you are such a child. What am I selling?? LOL, the truth.
That just means you are as stupid as he is. I'd love to see the poll where you determined that "most" on this board respect him and his opinions.pstarr wrote:
I have a great deal of respect for shortonoil,
Yoshua wrote:
The Etp Model predicts that the oil industry will consume 57% of the energy content in a barrel of crude oil to produce (extract, refine and distribute) the barrel to the economy in 2017.
Yoshua wrote:A scientific theory must be predictive. The thermodynamic laws are predictive. The Etp Model is based on the thermodynamic laws. The Etp Model must be predictive. If it isn't, then it is flawed.
The Etp Model predicts that the oil industry will consume 57% of the energy content in a barrel of crude oil to produce (extract, refine and distribute) the barrel to the economy in 2017.
The Etp Model is looking at the full life cycle of oil production.
To fight rising energy costs, the oil industry will cut its energy costs. Exploration and development of new fields will go first. The oil industry will start to cannibalize on its existing reserves until they are exhausted. The cannibalization of the existing infrastructure will continue until it collapses beyond repair...
Human behavior will respond to falling net energy. The economy will respond. The financial system will respond. The problem is just that we are against the laws of physics...it will take freaking magic to beat the laws of physics.
So let's hope and pray that the Etp Model is flawed.
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