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PUMP IT UP?

By David Vance On January 15th, 2015

Ah, gotta love Scottish separatism. Like Irish Republicanism, it operates detached from the real world. Compare.B7YdFPdCcAA2t1K

15 Responses to “PUMP IT UP?”

  1. Message to Scots and to the Chess Master Putin:

    Oil is a boom and bust business.

    It’s best not to base your economy based primarily on a boom and bust business.

  2. it’s them damn Americans fault all that fracking has just ruined the high price of a bbl of crude.

  3. http://www.erietvnews.com/story/27856579/texas-americas-boom-and-bust-oil-capital

    Texas: America’s boom-and-bust oil capital
    Posted: Jan 15, 2015 7:41 AM EST Updated: Jan 15, 2015 7:42 AM EST
    By Matt Egan

    NEW YORK (CNNMoney) — Up until just a few months ago, things were going gangbusters in Texas. Now, with oil breaking below $45 a barrel, there’s a legitimate fear the state will tumble into a recession.

    While the turnaround in the Lone Star state is dramatic, Texas oil veterans are well acquainted with the boom-and-bust cycle.

    For the better part of the last century, Texas has experienced the euphoria of high prices along with the heartache of low prices.

    Rick Perry has been going around talking about how the Texas model is better than that of the high regulation states. And maybe it is. But one reason that it looked so very good was that it was propped up by high oil prices.

    Maybe he’s not a chess grandmaster either.

    Oil can bite you in the ass real good when prices go bust.

  4. To be fair, nobody predicted the oil crash.

    It’s all to put the squeeze on Iran & Russia anyway.

    Come this summer the price will have gone back up to $70+ a barrel and everyone will have amnesia about the good-old-bad-old days.

  5. Since some here were bashing Obama when prices continued to stay high, I am certain that in the spirit of fairness they will soon be praising Obama to the skies for the collapse in oil prices.

    Since the sole responsibility for global oil prices rests with one guy in Washington DC.

  6. why? The rise in price could be laid directly on Obama’s policies the boom is directly in spite of those policies done by private business. on private land.

    He is still introducing “regulation” to hurt what is going on now. The crap he announced earlier in the week. This is what Obama is doing.

    WASHINGTON – The Obama administration pushed new regulations Wednesday aimed at cutting methane emissions from the natural gas sector, calling the proposed rules a needed step to address global warming as industry groups warned the move would threaten “America’s energy renaissance.” Relying once again on the Clean Air Act, the rules — the first of their kind — join a host of others that President Obama has ordered in an effort to slow global warming despite opposition in Congress that has only hardened since the midterm elections.

    Although just a sliver of U.S. greenhouse gas emissions, methane is more powerful than carbon dioxide at trapping heat in the atmosphere.

    The White House set a new target for the U.S. to cut methane emissions by 40 percent to 45 percent by 2025, compared with 2012 levels. To meet that goal, the Environmental Protection Agency will issue a proposal affecting oil and gas production, while the Interior Department will update its standards for drilling to reduce leakage from wells on public lands.

    The American Petroleum Institute, which represents the oil and gas industry, decried the proposal — questioning why the government would seek new rules when methane emissions have fallen.

    “Even with that knowledge, the White House has singled out oil and natural gas for regulation,” API President Jack Gerard said in a statement.

    He predicted emissions would continue to fall without government intervention, but said, “another layer of burdensome requirements could actually slow down industry progress to reduce methane emissions.”

    Further, he said new regulations “could threaten the shale energy revolution.”

    “We need our government to implement sound policies, but this plan seems to be based on politics,” Gerard said.

    White House officials faced critical questions during a conference call Wednesday, as reporters asked about the feasibility of the plan, unveiled in advance of Obama’s State of the Union address next week.

    Methane, which leaks during production of natural gas, has grown as a concern for environmentalists amid the ongoing boom in drilling for oil and natural gas in the U.S. Yet these rules will target new or modified natural gas wells, meaning thousands of existing wells won’t have to comply. The Obama administration left open the possibility it could regulate methane from existing wells in the future while asking the energy industry to take voluntarily steps to curb emissions in the meantime.

    oh but Lets praise him for not being completely successful in shutting down production. Lets praise him for his continual refusal to finish the Keystone Pipeline.

    Right now the economic growth of the country has averaged less than 2% the last 6yrs. If oil stays around the 2-250 a gallon mark for the next 2 yrs we see growth of 4-6%.

    Why? Because the drop in the price of gas has freed up 100s of dollars a month in the average american families finances. The have some discretionary spending ability that they haven’t had.

    You drive your car what how many days a month Phantom 6 if you push it? The rest of the country drive their cars 7 days a week. The majority of the country has to drive to and from work, let alone take the kids here, pick them up there. Nothing has hurt the middle class more over the past 6 yrs than the price of gas.

    Do to where you live, where you work you car and keeping gas in it is not an everyday worry for you, you have no clue.

    Name for me one policy Obama has put in place to help the current oil boom.

  7. Oh but hey Thanks O… despite your continual attack on the only are of growth in jobs and economics in the country we PRAISE AND THANK YOU. Just as your very presence has prevented the seas from rising we bow to you…

    I really wonder about your understanding on certain things Phantom.

  8. It’s a global market. The US, as a consuming or producing nation, is just a part of the global market.

    Obama was not responsible for the global price of oil at any time. The price would not have changed much no matter what he did.

  9. ah excuse me yes it’s a global market it’s a global market though control by about 4 organizations. Oil are not widgets.

    The current drop in price is OPEC trying to shut down the growth in American Production. The benefit of hurting fellow opec nation Iran is an added benefit for them, Pushing the Russian economy to 20% inflation and cornering a government made of a personality cult that claimed his seizing and wanting Crimea is exactly the same as the Jews claiming the Temple Mount it is Russia’s “spiritual heart” is dangerous putting it mildly

    The whole purpose is to make uneconomical fracking in the US everything else is crap.

    Plus the US Ban on exporting gas and oil limits how much we can compete in the “World Market”

    There is a lot on this topic that you are not looking at, choosing to ignore, or are just not informed on. You can’t get a full view of this just because you have a few clients in the business.

    Just by signing the ok on the Pipeline and dropping the export ban oil would drop to between 30-40 dollars a bbl.

    There is a lot your missing in background Phantom

  10. Commodities in general have fallen in price not just oil and gas. So it seems to me that it’s unlikely that the price of oil has fallen because of increased production but due to a change in demand.

  11. Yes – a change in demand from places like China and India.

    There really is no ” US oil market ” anymore.

    Approving the pipeline, which the clueless Obama should have done years ago, would not by itself change any pricing for a long time. You don’t go to ” Pipelines R Us ” and snap it into place the next day. You have to build it.

  12. In free-ish markets, only the play of supply and demand sets prices. Whatever anyone wants to do to anyone else is irrelevent; prices cannot be set arbitrarily. This smells about right:

    Why is the price of oil dropping so fast? Why now?

    This a complicated question, but it boils down to the simple economics of supply and demand.

    United States domestic production has nearly doubled over the last six years, pushing out oil imports that need to find another home. Saudi, Nigerian and Algerian oil that once found a home in the United States is suddenly competing for Asian markets, and the producers are forced to drop prices.

    On the demand side, the economies of Europe and developing countries are weakening and vehicles are becoming more energy-efficient. So demand for fuel is lagging a bit….

    Oil production is still increasing in the United States and some other countries. Many Wall Street banks are predicting that the oil price could fall as low as $40 a barrel in the coming months.

    But production is likely to begin declining in the second half of the year, and then crude prices will also begin to recover. The history of oil is a history of booms and busts followed by more of the same.

    US production is up almost 100% since 2009, meaning that inventories are at an 80 year high. The market then is flooded with oil, just as demand is slipping down, hence the price decline.

    This is all good then. We want capital to go into more productive enterprises in the meantime, and the falling price will encourage that.

  13. oil is a very unique commodity the speculators will cause the price to drop immediately once the XL is not a political football but waiting to be completed construction reality. Pipelines especially ones that are 2/3 complete don’t take long to finish.

    They’ll start pricing that oil before it flowing once it can’t be stopped.

  14. Irish Republicanism has detached the Republic from the UK. Welcome to that real world.

  15. how long were you in the bar when you posted that comment Mahons?

    Whats it pertain to ? or is your brain that pickled?