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I can't imagine this is the case with the "Drill Baby Drill" policies of the Trump administration. Their business should be getting better than ever. So the money should be there. But the time to race - maybe not so much for awhile. Sounds like racing part time is still in the cards. And as we have seen in recent years, they could still make the countdown on a part-time schedule.
look at the oil price. it's following the current stock market. they don't drill if the money's not there
jealous much?
I am a owner of numerous very prosperous wells and am very versed in what's happening in the industry. 1st: the US is oil independent already. Problem is 2: We export oil because all the new oil finds have been for the oil called West Texas Sweet (WTI). It is the highest quality oil out there but our refineries are set up to refine Heavy Crude and cannot refine WTI. So we export WTI and buy Heavy Crude from Canada and other countries. With tariffs on both importing and exporting we are already seeing less daily production in the US. The break even point for the oil companies is $55 per barrel and we are getting close which has already showed down new well drilling. BAKER HUGHES tracks all the drilling rigs in the US and has already seen a marked decrease of active drilling rigs and are expecting a major decrease. The Major oil companies have stated that DRILL BABY DRILL is one of dumbest things they have heard and isn't going to happen, they are not going to sell oil at a loss.
No you just represent stool....
Sensative much,maybe you should get down on all fours,sounds like u need it lol.
Thank You..........
