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Make America Great Again
Join Date: Oct 2006
Location: Springpatch
Casino cash: $33532
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Why haven't oil prices dropped like a rock?
So I admit I know very little when it comes to this subject. But weren't we told "drill baby drill" going back as far as the 2008 GOP convention, and that an oil surge from something like the Keystone Pipeline would drop gas prices down to something ridiculous like $2/gallon?
I never believed that rosy scenerio, but we've gotten the most promising news in energy independence this past year when it has now been projected for America to overtake Saudi Arabia in oil production. So here we are, projected to be the global leader in oil production. Something that not even the Keystone Pipeline could have achieved, and goes beyond even its rosy projections in terms of oil generated for American usage. Oil prices have largely held, have they not? My understanding (limited as it is) is that oil is priced based on the projection of how much we'll be able to acquire in the future: Quote:
So what's the story on this? Thanks in advance. |
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#31 | ||
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
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#32 | |
Now it's Willie Time!
Join Date: Jun 2004
Location: Beating hippies
Casino cash: $13612
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Most companies are doing project valuations based on roughly $70 crude so they still have a ways to go before hitting bottom. Sure, there may be those going at $75 but not many going in for the projects based on $90 oil. They got flexed out. Generally the cure for low prices is low prices and the cure for high prices is high prices. The system, when left to operate, usually works.
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“You may think RaiderH8r is just a thinker. But I’m not just a thinker. I’m a doer. Every day I go out there, and rev that engine, fire it up, grab a hold of that line between speed and chaos, and wrestle it to the ground like a demon cobra. And when the fear rises up in my belly, I use it. Fear is powerful, because it’s been there for billions of years. And it is good. And I use it. And I ride it; I ride it like a skeleton horse through the gates of hell.” |
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#33 |
Now it's Willie Time!
Join Date: Jun 2004
Location: Beating hippies
Casino cash: $13612
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Yes. They are an independent. The term applies to the IRS classification meaning, simply, they are not a fully, vertically integrated company like the Exxons of the world. They are buying crude from third parties to refine and distribute.
You can stop being a dickhead any time now Taco.
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“You may think RaiderH8r is just a thinker. But I’m not just a thinker. I’m a doer. Every day I go out there, and rev that engine, fire it up, grab a hold of that line between speed and chaos, and wrestle it to the ground like a demon cobra. And when the fear rises up in my belly, I use it. Fear is powerful, because it’s been there for billions of years. And it is good. And I use it. And I ride it; I ride it like a skeleton horse through the gates of hell.” |
Posts: 3,879
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#34 |
Sapere Aude
Join Date: Jun 2001
Casino cash: $18037
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>Why haven't oil prices dropped like a rock?
For one reason, people will pay the prices.
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Ehyeh asher ehyeh. Fiat justitia ruat caelum. Free Predictions: 2008: http://www.chiefsplanet.com/BB/showt...1&#post3690801 2012: http://www.chiefsplanet.com/BB/showt...43#post9079043 2016: http://www.chiefsplanet.com/BB/showt...8#post12475268 |
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#35 |
In Search of a Life
Join Date: Jan 2004
Location: San Antonio Tx.
Casino cash: $34554
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Wheres Donger been?
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Originally Posted by Cassel's Reckoning: Matt once made a very nice play in Seattle where he spun away from a pass rusher and hit Bowe off his back foot for a first down. One of the best plays Matt has ever made. |
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#36 |
SUPER BLOOD WOLF MOON
Join Date: Nov 2002
Casino cash: $577
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Your Fuhrer has no prize, Direckshun.
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Chiefs game films |
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#37 |
DELETE! DELETE! DELETE!
Join Date: Oct 2008
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THis is pretty much it. Demand hasn't slowed, so why should the price?
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You are my obsolete mule. I am broken brilliance. Aaah Brother Nero, I knew you'd come! ![]() |
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#38 |
2018 AFC West Champions
Join Date: Mar 2005
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dude stf
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#39 |
2018 AFC West Champions
Join Date: Mar 2005
Location: KCMO
Casino cash: $22354
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biiiiingo
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#40 |
Quit your bullshit
Join Date: Jul 2005
Location: Bored of winning
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That's not really accurate. People would always have paid the prices, but there are other market forces that kept the price down.
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Today is not a good day to be a pussy. |
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#41 |
GBM 8-12-15
Join Date: Aug 2000
Location: Dayton, Oh.
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Obamacare
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#42 |
GBM 8-12-15
Join Date: Aug 2000
Location: Dayton, Oh.
Casino cash: $52254
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I suppose it is still Bush's fault.
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#43 |
Veteran
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#44 |
Wearing ballistic dog goggles.
Join Date: Mar 2001
Location: In the box.
Casino cash: $21603
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I know, right? This is obvious trolling for him.
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Like "Cool Hand" Luke I'm busting rocks. __/|_/[___] |/ \\_| ---OllllO _( ))~-( ))-0--)) |
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#45 | ||
Supporter
Join Date: Feb 2005
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Seasonal factors. Coming off of the "summer blends" which cost a lot more to make is one reason gas prices tend to drop over the fall and winter months and start to rise again in late winter, early spring.
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