Gas Prices

The Other Side

Well-Known Troll
Troll
I believe the article you referenced gave numbers of wells shut down. The number is small.

US companies want to make a profit. That mark becomes limited between $50 and $60 a barrel. Is $90 better for them? Sure, if the global economy can support it. But there's a sweet spot that the US and Saudi Arabia have found where oil is still profitable and other global players are hobbled.

The number of wells is small? are you fricken kidding me? Did you not listen to Pickens in the video I linked??

He clearly points out that american oil companies had 4500 operating wells at one point in the 80's and then they SHUT DOWN 50% of those wells and drove the price up.

Next, they reduced the number of wells to 1500 (where they had been before president Obama took office) and now they want to shut down betwen 500 and 600 more wells. Thats almost 50% of capacity lost.

Still think that is small?

When you are paying $5 bucks a gallon for gas youll remember all those wells that are shut down suppling NOTHING to your gas tank while the oil industry makes billions a quarter on your dime.

Why attempt to defend the oil industry which is corrupt as heck and blatant about it??

Intentionally reducing capacity to drive up the price of oil per barrel hurts all americans. Our economy has suffered since GW BUSH allowed them to screw all americans at the pump.

Now, they have all the oil they need for decades to come, and yet they will drive up prices and attempt to blame president Obama for the high prices.

TOS.
 

upsgrunt

Well-Known Member
The number of wells is small? are you fricken kidding me? Did you not listen to Pickens in the video I linked??

He clearly points out that american oil companies had 4500 operating wells at one point in the 80's and then they SHUT DOWN 50% of those wells and drove the price up.

Next, they reduced the number of wells to 1500 (where they had been before president Obama took office) and now they want to shut down betwen 500 and 600 more wells. Thats almost 50% of capacity lost.

Still think that is small?

When you are paying $5 bucks a gallon for gas youll remember all those wells that are shut down suppling NOTHING to your gas tank while the oil industry makes billions a quarter on your dime.

Why attempt to defend the oil industry which is corrupt as heck and blatant about it??

Intentionally reducing capacity to drive up the price of oil per barrel hurts all americans. Our economy has suffered since GW BUSH allowed them to screw all americans at the pump.

Now, they have all the oil they need for decades to come, and yet they will drive up prices and attempt to blame president Obama for the high prices.

TOS.


So basically all you are worried about is that Obama will get blamed for something.

Maybe I should have added a psst, bro, or ya.
 
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bbsam

Moderator
Staff member
The number of wells is small? are you fricken kidding me? Did you not listen to Pickens in the video I linked??

He clearly points out that american oil companies had 4500 operating wells at one point in the 80's and then they SHUT DOWN 50% of those wells and drove the price up.

Next, they reduced the number of wells to 1500 (where they had been before president Obama took office) and now they want to shut down betwen 500 and 600 more wells. Thats almost 50% of capacity lost.

Still think that is small?

When you are paying $5 bucks a gallon for gas youll remember all those wells that are shut down suppling NOTHING to your gas tank while the oil industry makes billions a quarter on your dime.

Why attempt to defend the oil industry which is corrupt as heck and blatant about it??

Intentionally reducing capacity to drive up the price of oil per barrel hurts all americans. Our economy has suffered since GW BUSH allowed them to screw all americans at the pump.

Now, they have all the oil they need for decades to come, and yet they will drive up prices and attempt to blame president Obama for the high prices.

TOS.
Did you not read the Yahoo article you posted?

The oil market is shifting considerably. Different players, different price points, different geopolitical aims.
 
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