Re: New study suggests US fracking boom may not last
Posted: Sun 29 Mar 2015, 19:32:18
And also: "'...may not last". I think we can consider changing "may" to "won't" given that low oil prices have obviously proven the validity of that point. Like the old joke about the guy that died but didn't have the decency to stop moving. The shale boom days are over. The rig count collapse proves it. But the shale production won't have the decency to "stop moving" up right away thanks to the lag time between rig activity and new production. In a couple of years (if prices stay at current levels) the consumers will likely be begging for any promises they can get. LOL.
Lore - You're correct. But hasn't that been what the Rockman, westexas, Art B and a few others been preaching for years. But, again, think about it: what would life had been like for the US consumer had the shale plays not existed and had not been developed? Remember despite what some logic starved folks thinks the high cost of shale production didn't cause the oil price to increase. A very simple question: where would oil prices be today if you subtracted today's shale production? Or conversely, how damaged would the economy be today had prices jumped to $150/bbl? Perhaps we would have had a repeat of the 80's.
Folks need to remember regardless of the damage inflicted on the oil patch and its investors the US consumers made out much better then had the shales not existed.
Lore - You're correct. But hasn't that been what the Rockman, westexas, Art B and a few others been preaching for years. But, again, think about it: what would life had been like for the US consumer had the shale plays not existed and had not been developed? Remember despite what some logic starved folks thinks the high cost of shale production didn't cause the oil price to increase. A very simple question: where would oil prices be today if you subtracted today's shale production? Or conversely, how damaged would the economy be today had prices jumped to $150/bbl? Perhaps we would have had a repeat of the 80's.
Folks need to remember regardless of the damage inflicted on the oil patch and its investors the US consumers made out much better then had the shales not existed.