hey Andy.. Great again as always — Here is what an oil
expert posted .. I can find the source if you need..
Right now, some US shale operators can break even at $10/barrel. Costs for the “expensive” ones run around $55 per barrel but are falling fast. With massive quantities of oil and gas still in the ground, there is no economic reason these companies can’t make big money even if energy prices stay in the $40s.
The Peak Oil proponents weren’t just wrong; they were exponentially wrong. We’re not going to run out of oil, and it is not getting too expensive to produce. Quite the opposite on both counts
LOL, I’d bet no more than 1% can produce at those costs. And frankly, it’s likely due to hedges put on at much higher prices – which are ALL expiring now. As a whole, shale oil is well above $50/bbl for breakeven – and for many shale producers, WAY above that level. However, rest assured they’ll produce every last barrel, simply for the badly needed cash flow to pay back their collapsing junk bonds.
And you are right, there will always be plenty of oil – but at what price?
COL Mike
on August 17, 2015 at 4:36 pm
Norse,
Quoting endless oil by an expert is like saying, Gold is just a pet rock. Nothing to see here my friend move on very quickly and for goodness sakes keep all your wealth in the tertiary category. You know, the stuff like paper wealth that needs a lot of primary wealth to be worth a wooden nickel!
Business sense tells us that fracking is the bottom of the bottom of the barrel for oil just to keep global production from declining to a point even a dead head stoned monkey can make the call we’ve reached peak oil.
If you’re looking for investment advise I would highly recommend to panic first & frequently before the dead heads wake up, because once Gold-Silver is unavailable the real panic will start to set in driving people into food, tools, etc. that they can get their hands on.
Respectfully
RF
on August 18, 2015 at 1:13 am
WANTED: Your unwanted gold pet rocks. Will pay postage.
hey Andy.. Great again as always — Here is what an oil
expert posted .. I can find the source if you need..
Right now, some US shale operators can break even at $10/barrel. Costs for the “expensive” ones run around $55 per barrel but are falling fast. With massive quantities of oil and gas still in the ground, there is no economic reason these companies can’t make big money even if energy prices stay in the $40s.
The Peak Oil proponents weren’t just wrong; they were exponentially wrong. We’re not going to run out of oil, and it is not getting too expensive to produce. Quite the opposite on both counts
LOL, I’d bet no more than 1% can produce at those costs. And frankly, it’s likely due to hedges put on at much higher prices – which are ALL expiring now. As a whole, shale oil is well above $50/bbl for breakeven – and for many shale producers, WAY above that level. However, rest assured they’ll produce every last barrel, simply for the badly needed cash flow to pay back their collapsing junk bonds.
And you are right, there will always be plenty of oil – but at what price?
Norse,
Quoting endless oil by an expert is like saying, Gold is just a pet rock. Nothing to see here my friend move on very quickly and for goodness sakes keep all your wealth in the tertiary category. You know, the stuff like paper wealth that needs a lot of primary wealth to be worth a wooden nickel!
Business sense tells us that fracking is the bottom of the bottom of the barrel for oil just to keep global production from declining to a point even a dead head stoned monkey can make the call we’ve reached peak oil.
If you’re looking for investment advise I would highly recommend to panic first & frequently before the dead heads wake up, because once Gold-Silver is unavailable the real panic will start to set in driving people into food, tools, etc. that they can get their hands on.
Respectfully
WANTED: Your unwanted gold pet rocks. Will pay postage.
Thanks for the great report Andy,
You’re audio volume is still very low for us laptop users and who also have less than perfect hearing.
Just look at the comments on Youtube for this audio blog and you’ll see I’m not the only one.
https://www.youtube.com/watch?v=Kty9BO3noT8
Your recent videos have been on the very low end of volume. But I think in the past you had a much higher volume.
Thanks for all your great work,
Roger
Thanks, much appreciated. Looking into a pre-amplifier today.
a