Shale Giants Swear They Won't Drill More, Even At $200 Barrel

[surada]

Well, just so a friend of yours said so, in 1979, what could be more solid?.

He worked for the Shah and reported to the state department. Have you ever been to Iran?

 

[Likkmee]

Awww, are you saying the Oil Industry doesn’t pay enough to it employees?

Please prove that stupidity!

Meskins can drill from the border to east LA overnight.
$6 an hour and you'll have oil...or pay them per barrel.
Barrel can be changed to bushel to make the math simpler.

 

[surada]

Why should the oil producers have to do anything to make this President look good. He ran on a platform of putting them out of business, so screw him.

The have no oil workers, truck drivers or sand for the Permian basin shale producers.

 

[Burgermeister]

What US oil producer in his right mind would invest massive capital in new drilling when the federal government has declared war on domestic production? Big banks aren't all that keen on financing it right now either. It's the expected false scarcity that happens whenever the government tries to shape the market.

 

[surada]

What US oil producer in his right mind would invest massive capital in new drilling when the federal government has declared war on domestic production? Big banks aren't all that keen on financing it right now either. It's the expected false scarcity that happens whenever the government tries to shape the market.

US producers have a shortage of oil workers, a shortage of truckers and a shortage of sand for the Permian basin shale oil producers.

 

[Markle]

The have no oil workers, truck drivers or sand for the Permian basin shale producers.

 

[Fort Fun Indiana]

The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation.

Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert Southwest to the Upper Great Plains -- but not this year. Influential players like Pioneer Natural Resources Co., Devon Energy Corp. and Harold Hamm’s Continental Resources Inc. just pledged to limit 2022 production increases to no more than 5%, a fraction of the 20% or higher annual growth rates meted out in the pre-pandemic era.

Shale giants swear they won't drill more, even at $200 a barrel

The timing couldn’t be worse for consumers, but the message from shale country is loud and clear: the independents won’t repeat the mistakes of the past by flooding the world with cheap oil.

worldoil.com

So much for the inflation excuse.

BUt iF tHeY had mOrE WeLLs, tHeY wOuLD mAkE mOrE OiL and sTuFf

Signed,

Dummies

 

[bendog]

The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation.

Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert Southwest to the Upper Great Plains -- but not this year. Influential players like Pioneer Natural Resources Co., Devon Energy Corp. and Harold Hamm’s Continental Resources Inc. just pledged to limit 2022 production increases to no more than 5%, a fraction of the 20% or higher annual growth rates meted out in the pre-pandemic era.

Shale giants swear they won't drill more, even at $200 a barrel

The timing couldn’t be worse for consumers, but the message from shale country is loud and clear: the independents won’t repeat the mistakes of the past by flooding the world with cheap oil.

worldoil.com

So much for the inflation excuse.

Exactly. Am I going to gamble losing my business on a bet that Putin's war will last 12mos or more?

 

[bendog]

No thanks to obama

or did someone at NPR tell you that Dumbo invented fracking?

Well, perhaps, but Trump was not the cause of production continuing to increase either, nor was he the reason the price of oil collapsed and even went negative, or for its recovery.

It's simply not that political. Global Warming is happening and US auto mafters are moving to at least hybrids if not fully electric.

 

[Mac-7]

Well, perhaps, but Trump was not the cause of production continuing to increase either, nor was he the reason the price of oil collapsed and even went negative, or for its recovery.

It's simply not that political. Global Warming is happening and US auto mafters are moving to at least hybrids if not fully electric.

Global warming is happening

but the earth’s climate has never been static

nor will it ever be