WTI crude oil to hit $70 in 2018?? above?

[Captain Ahab]

Mr. Delson, tell me more...

 

[JayKay]

All of this is very interesting, but I have only one question...

Huffranger, what does "shitting in high cotton" mean? and how old does one need to be, to use such a phrase?

Norman, I'm teasing you.

 

[Ponyroper]

Commodities like oil are still global markets, which obviously means the commodity price is effected by global economies, not just the U.S. Since global economies are good and the outlook for major global markets is so good, the futures prices are up. In other words, supply and demand drive oil prices along with other commodities, much more than anything else, except maybe some temporary geopolitical stuff. Every major country’s economies are so intertwined with one another. If the president had the kind of effect people claim, then why does WTI pricing tend to follow Brent Crude pricing? Same goes for coal, why do you think trump hasn’t been able to bring the coal industry back like he claimed he would? Supply and demand is why. He could get rid of all regulations but if the demand isn’t there the companies won’t just waste their money.

You sir seem to be one of the few people on this site that understands how tangled together the worlds economies have become and how little our president can do to change that. As of right now he has done virtually nothing to affect our economy. He points to the stock market rise but that is not economic activity, it is simply a change in value of an asset and unless the stock owner sells the stock and spends the money here is no stimulation to the economy. It's the same thing as if gst's land value goes up $100 an acre. On paper gst is wealthier but he does not have any more money to spend. If the stock market goes back down all that wealth is gone again. The bonuses Wells Fargo and Walmart tossed to a few of their employee are teasers that are all PR and paybacks to politicians for voting for the big corporate tax cuts. Do a little research and you will find out these bonuses are mostly smoke and mirrors. Wells Fargo made a big deal out of raising their minimum wage to $15 an hour but people don't realize that only a small number of employees working for Wells Fargo actually start out making less than $15 an hour. Walmart's $1000 bonus is another sham. Only employees who have been with Walmart at least 20 years qualify for the $1000 bonus. How many people other than a few executives keep working at Walmart for 20 years. Even if the tax cuts and deregulation stimulate our economy it will be at best a break even situation and the monster deficit will again be kicked down the road to another generation. That $1100 tax windfall you get next year will be coming out of you kids pockets.

 

[Kurtr]

what if i put that 1100 into my kids college fund so then it will go into his pockets. All the democrats that dont like the tax cuts please send it back to the federal treasury as to not be hypocritical thank you

 

[eyexer]

I'm always amused by the liberals trying to spin these tax cuts lol. They cannot stand to see Trump successful. It just drives em nuts and I just enjoy the shit out of seeing it. Never thought I'd enjoy it this much.

 

[huffranger]

Also having the DAPL in full operation had opened up a better way of moving ND light sweet crude to a higher priced market for a lower transportation cost.

I am enjoying the nean delson I am an Big Oil Barron see my oil lease here on the red dot so now you gotta listen to me.... You can't make this shit up !!

 

[eyexer]

http://www.willistonherald.com/news...cle_03743200-fb3a-11e7-a0f2-5b7282e0cc3f.html

 

[Trip McNeely]

You sir seem to be one of the few people on this site that understands how tangled together the worlds economies have become and how little our president can do to change that. As of right now he has done virtually nothing to affect our economy. He points to the stock market rise but that is not economic activity, it is simply a change in value of an asset and unless the stock owner sells the stock and spends the money here is no stimulation to the economy. It's the same thing as if gst's land value goes up $100 an acre. On paper gst is wealthier but he does not have any more money to spend. If the stock market goes back down all that wealth is gone again. The bonuses Wells Fargo and Walmart tossed to a few of their employee are teasers that are all PR and paybacks to politicians for voting for the big corporate tax cuts. Do a little research and you will find out these bonuses are mostly smoke and mirrors. Wells Fargo made a big deal out of raising their minimum wage to $15 an hour but people don't realize that only a small number of employees working for Wells Fargo actually start out making less than $15 an hour. Walmart's $1000 bonus is another sham. Only employees who have been with Walmart at least 20 years qualify for the $1000 bonus. How many people other than a few executives keep working at Walmart for 20 years. Even if the tax cuts and deregulation stimulate our economy it will be at best a break even situation and the monster deficit will again be kicked down the road to another generation. That $1100 tax windfall you get next year will be coming out of you kids pockets.

nancy.....? nancy pelosi? is that you?

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heidi? or is this heidi?

 

[Flatrock]

Anything above $50 is good. At $65 we are shitting in high cotton, currently Trump is THE man !!

You must have been shitting in high cotton when Obama lifted the export ban too huh?

 

[deleted___account]

You must have been shitting in high cotton when Obama lifted the export ban too huh?

Whoa whoa whoa just a minute there fella. You're the second guy to use that phrase. There's a couple of us in here that need to know what it is, where it is, and how to shit in high cotton properly.

 

[luvcatchingbass]

Whoa whoa whoa just a minute there fella. You're the second guy to use that phrase. There's a couple of us in here that need to know what it is, where it is, and how to shit in high cotton properly.

Urban Dictionary describes said saying as>
Southern term = We got it made---as in the cotton is high enough to hide us while we take a shit.

 

[Davy Crockett]

We are second only to Texas in proven reserves and production. Offshore wells are big producers but cost of production is so much higher off-shore than a Baaken or Eagle Ford well!

Not that far off a Bakken well if you take an average across the board.

https://oilprice.com/Energy/Energy-General/Gulf-Of-Mexico-Breakeven-Falls-Below-50-Per-Barrel.html

 

[Wildyote]

Not that far off a Bakken well if you take an average across the board.

https://oilprice.com/Energy/Energy-General/Gulf-Of-Mexico-Breakeven-Falls-Below-50-Per-Barrel.html

Because production on the off-shore wells are way higher per well. It is apples compared to oranges.

 

[guywhofishes]

you have to be dense not to see where this is all headed

 

[Bfishn]

I was at a gathering a little while back where a presenter from a major financial institution who was way smarter than me and had a bunch of fancy graphs to back up his data said oil would be pretty bearish through 2020. This financial institution seemed to think it would be in the 50's-60's for the most part through 2020, and that this recent run-up wont last.

 

[Velva_zv21]

All that graph is saying is in the last 10 years that crude spent the longest amount of time in the 50 dollar range and 100 dollar range..... with it being 60 bucks rite now there is nothing with that graph that shows where it is headed for price......i might be retarded and don't know how to read that graph but that's what i got out of it....

 

[Kurtr]

you have to be dense not to see where this is all headed

im dense or there is something missing off the bottom of the chart with the dates on it

 

[Davy Crockett]

Because production on the off-shore wells are way higher per well. It is apples compared to oranges.

I think there's some gray area in "Break even price" from one article to the next. I'm just going by what the link that I posted had to say about it.



"According to Wood Mackenzie, the offshore industry made major changes to drilling strategies and technology in the aftermath of the Deepwater Horizon disaster. These allowed operators to cut the average cost of projects by about 20 percent, making many projects profitable at $50 per barrel or even lower."

 

[Allen]

That histogram merely suggests to me that the current price for a barrel of oil is unstable and that oil should either be headed up, or down. You get to choose which way you think it's going. Overall though, it suggests oil has spent more time above the current price than it has below it.

Given that OPEC and Russia are dying to see higher prices, I'd most likely bet on it going higher.

 

[Fisherman25]

I think there's some gray area in "Break even price" from one article to the next. I'm just going by what the link that I posted had to say about it.

It’s an incredibly tough thing to answer for larger companies. I won’t even begin to pretend that I could calculate it. Every company gives you a number that changes depending on who you ask, and I can promise they’re all calculating it differently.