OPEC deal collapse sparks price war: ‘$20 oil in 2020 is coming’

[Meghan54]

I think it's not a bad idea. Are we going to let all the oil and gas companies close down so we can become 100% dependant on foreign oil. That's exactly what Putin and the Saudis want. I say they pay back whatever assistance they get later on when prices come back up.

Guess you forgot 2014 when the Saudis flooded the market with oil...to drive U.S. shale out of business.

What happened? Bankruptcies abounded yet during that time, U.S. oil output increased by 500,000 bpd.

Why? Our business bankruptcy laws tend to allow a business to declare bankruptcy, go through reorganization, and come out the other side with fewer debts and still in business. In fact, most never quit pumping during their bankruptcy proceedings. It's a peculiarity with U.S. business law...and the Sauds fell flat on their faces and never drove U.S. oil out of business as they'd hoped to.

Didn't happen then, most likely won't be successful this time, either.

 

[s0me0nesmind1]

Guess you forgot 2014 when the Saudis flooded the market with oil...to drive U.S. shale out of business.

What happened? Bankruptcies abounded yet during that time, U.S. oil output increased by 500,000 bpd.

Why? Our business bankruptcy laws tend to allow a business to declare bankruptcy, go through reorganization, and come out the other side with fewer debts and still in business. In fact, most never quit pumping during their bankruptcy proceedings. It's a peculiarity with U.S. business law...and the Sauds fell flat on their faces and never drove U.S. oil out of business as they'd hoped to.

Didn't happen then, most likely won't be successful this time, either.

Honestly I don't understand what any foreign countries are trying to do as far as the new US dominance. Even if you kill small level upstream O&G companies - if a well has been tapped then it's been tapped..... a medium/large size company will gobble them up and continue the trend.

Regardless, there isn't a single scenario I can imagine where they cheapen O&G and then the US loses its dominance long-term.

 

[Jhhnn]

The Russians want no American LNG competition to their Nordstream 2 natural gas pipeline to western Europe. Kicking US producers in the balls limits their ability to expand into that market.

 

[s0me0nesmind1]

The Russians want no American LNG competition to their Nordstream 2 natural gas pipeline to western Europe. Kicking US producers in the balls limits their ability to expand into that market.

As I stated - any wells that have been tapped are already tapped. Our LNG will definitely remain strong for years to come.

That - and we have no part in their pipeline. Regardless of our production, we can't shove our dick in their pipeline and say LOL TAKING OVER YOUR PIPELINE!

Europe is just simple fucking retarded.

 

[Greenman]

How about . . . if you have a contractor's license you pay less gas tax than the urban "look at me in my penis extender" pick-me-ups? Those fuckers can pay for their vanity.

I see those guys in the lumberyard now and then trying to load 16' material on a truck that isn't equipped for it, it's painful to watch.

 

[Kobota]

Why are people just talking about road maintenance costs? We should be taxing vehicles for their full externalities. And yes absolutely we should for EVs too.

What about the flyover states with the Amish, those do more damage to roads than anyone else around there, and they pay no fuel taxes. Live in Oh, In, Pa or surrounding and you witness their steel wheel ruts down the roads. EV's should get a credit compared to Amish in road maintenance, at least they have rubber tires.

 

[sdifox]

What about the flyover states with the Amish, those do more damage to roads than anyone else around there, and they pay no fuel taxes. Live in Oh, In, Pa or surrounding and you witness their steel wheel ruts down the roads. EV's should get a credit compared to Amish in road maintenance, at least they have rubber tires.

Wait what? They have multi tonne buggies now?

 

[thilanliyan]

300,000 employees of the oil and gas industry versus the totality of American gas consumers. I'll take the latter, particularly since it's a function of market conditions, not government imposition.

Several hundred million people shouldn't have to pay arbitrarily higher prices so that 300,000 people can have better job security. Market conditions change, and businesses and consumers alike should be exposed to both the good and bad results of that.

I'll ask again, do you believe in climate change caused by humans or not?

Judging by your posts (ie. "burning oil/gas should be cheap"), you don't?

 

[Atreus21]

I'll ask again, do you believe in climate change caused by humans or not?

Judging by your posts (ie. "burning oil/gas should be cheap"), you don't?

I'm tepid on the subject. Whatever the solution may be, it ought not involve compelling poor people to pay arbitrarily higher prices for gasoline. They have families to support, and enough problems without being conscripted to a cause.

 

[thilanliyan]

I'm tepid on the subject. Whatever the solution may be, it ought not involve compelling poor people to pay arbitrarily higher prices for gasoline. They have families to support, and enough problems without being conscripted to a cause.

Okay, fair enough.

However, IMO the trend for oil price can't be down if the cost of not doing anything about climate change continues to increase (ie. the cost to fix it continues to increase the longer we delay).

 

[BoomerD]

I see those guys in the lumberyard now and then trying to load 16' material on a truck that isn't equipped for it, it's painful to watch.

You mean I shouldn't try to load a unit of 16' 2x4's in the back of my truck with a 5.5' bed?

 

[UNCjigga]

You mean I shouldn't try to load a unit of 16' 2x4's in the back of my truck with a 5.5' bed?

Where’s the problem?

 

[BoomerD]

Where’s the problem?

exactamundo!

 

[EduCat]

People in here actually acting like more taxes on gas will magically fix all the potholes! LOL Im in chicago our roads should be paved in fucking gold! Do the burbs actually have major road issues? No. More. Taxes.

 

[Brainonska511]

People in here actually acting like more taxes on gas will magically fix all the potholes! LOL Im in chicago our roads should be paved in fucking gold! Do the burbs actually have major road issues? No. More. Taxes.

Gas taxes do not come close to covering road upkeep.

Besides road maintenance, the other purposes of increasing gas tax could be to discourage the purchasing of unnecessarily large and inefficient vehicles for the masses, reduce unnecessary driving where mass transit could be effective, and to generally put some economic pressure on not totally fucking the environment.

 

[BoomerD]

Gas taxes do not come close to covering road upkeep.

Besides road maintenance, the other purposes of increasing gas tax could be to discourage the purchasing of unnecessarily large and inefficient vehicles for the masses, reduce unnecessary driving where mass transit could be effective, and to generally put some economic pressure on not totally fucking the environment.

Mass transit is for the poors. Don't hate on those of us smart enough to live in rural areas.

 

[IronWing]

Mass transit is for the poors. Don't hate on those of us smart enough to live in rural areas.

Pay for your own roads.

 

[Greenman]

People in here actually acting like more taxes on gas will magically fix all the potholes! LOL Im in chicago our roads should be paved in fucking gold! Do the burbs actually have major road issues? No. More. Taxes.

Here in California we're on our third or fourth gas tax hike. Each time we're assured that the money will be used for nothing but infrastructure repairs, and it always gets dumped into the general fund. This last one they swear is really going to be used for roads and bridges, and being gullible rubes we passed it again.

 

[BoomerD]

Pay for your own roads.

By burning more gasoline than Prius drivers or e-vehicle drivers...I pay significantly more gasoline taxes...so I'd say I at least contribute more to the road system...

 

[darkswordsman17]

People in here actually acting like more taxes on gas will magically fix all the potholes! LOL Im in chicago our roads should be paved in fucking gold! Do the burbs actually have major road issues? No. More. Taxes.

Wow, we might need to be concerned, coronavirus might be making zombies. Thousand points of light? Read your lips?

 

[BoomerD]

Here in California we're on our third or fourth gas tax hike. Each time we're assured that the money will be used for nothing but infrastructure repairs, and it always gets dumped into the general fund. This last one they swear is really going to be used for roads and bridges, and being gullible rubes we passed it again.

Apparently California doesn't have the highest gas taxes like I thought.

Which States Have the Highest Gas Tax? — Flex Fleet Rental

In a not-so-surprising turn of events, gas prices seem to be increasing across the country. Increased gas prices have placed more pressure on families,

flexfleetrental.com

You're #2, we here in WA are #3.

 

[IronWing]

Arizona's gas tax is a third of California's and we've got the roads to prove it.

 

[OILFIELDTRASH]

Arizona's gas tax is a third of California's and we've got the roads to prove it.

You live in a godforsaken desert with immense poverty except for a few nice towns. No one wants to deal with sandstorms, extreme heat, and Californians.

 

[IronWing]

You live in a godforsaken desert with immense poverty except for a few nice towns. No one wants to deal with sandstorms, extreme heat, and Californians.

Says a guy from Texas.

 

[BoomerD]

Says a guy from Texas.

Tex-ass...the place you'd stick the hose if you wanted to give America an enema...