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Gas prices go lower

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Old 11-04-2014, 11:22 AM
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It's due to a lot more than just fracking. Saudi Arabia is pumping out lots of oil to also keep the price low. If the price is too low, it becomes too expensive for fracking operations which in turn keeps us from cutting into Saudi Arabias market in Asia.
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Old 11-04-2014, 08:31 PM
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Saw Richard Hastings of Global Hunter Securities on CNBC suggesting that the the Conventional Oil Producing countries are keeping up production to force lower prices which would force leveraged Unconventional Oil production (Shale Oil) out of business. Don't trade your Prius in for the GMC Yukon Denali just yet!
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Old 11-04-2014, 08:37 PM
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Quote:
Originally Posted by tcxr750 View Post
Saw Richard Hastings of Global Hunter Securities on CNBC suggesting that the the Conventional Oil Producing countries are keeping up production to force lower prices which would force leveraged Unconventional Oil production (Shale Oil) out of business. Don't trade your Prius in for the GMC Yukon Denali just yet!
Isn't this the "free-market" system that so many on here keep talking about?
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Old 11-04-2014, 10:17 PM
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Though they won't admit it Fracking does cause earthquakes. I lived in OK Earthquakes went from 1 every 20 years to hundreds year. Biggest on was 5.7 I thought I was in Sunny Cala. Heard the big one coming, shuck for about 90 sec. then heard it leave. ref:
Oil Extraction Causes Biggest Recorded Earthquake in Oklahoma
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Old 11-07-2014, 05:36 PM
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Just a question here.

Gasoline prices are getting lower. It is not economical to refine the oil from tar sand at this point. Yet the Keystone Pipeline is supposed to carry the tar sand from Canada to Texas for refining. Would the Texas refiners even attempt such an effort since it would not be profitable?
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