wheatonFJR
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I would guess that these crude oil prices will kill all those jobs in ND, SD, and TX pretty soon unless they get some good bank backing or sumpin...
It's kind of the nature of a boom. ND will be first due to logistics and lack of a pipeline. Gold rush, oil boom, etc.I would guess that these crude oil prices will kill all those jobs in ND, SD, and TX pretty soon unless they get some good bank backing or sumpin...
OPEC is holding their prices below the costs of US production. They know it's nice to be the only seller in the marketplace.It's kind of the nature of a boom. ND will be first due to logistics and lack of a pipeline. Gold rush, oil boom, etc.I would guess that these crude oil prices will kill all those jobs in ND, SD, and TX pretty soon unless they get some good bank backing or sumpin...
They will be back as soon as the price comes above production costs. Until then, real estate prices will follow the loss of jobs.
Would they not need to sell well below the Canadian/Mexican/Amerikan prices to overcome the transportation costs? Those oil hauling supertankers are not all hybrids.OPEC is holding their prices below the costs of US production. They know it's nice to be the only seller in the marketplace.
OPEC and other producers do not set prices per-se. They produce more or less oil for the market, which determines the contract price based on actual or perceived future scarcity or surplus. Many other factors like distribution, world peace/war and economic condition end up in that equation.
It's nice to be on the winning side of that formula after many years of feeling screwed.
Wait, did they have a pipeline spill at Valparaiso University again?Mark - how about 1.91 in Valpo!!!
I think Russia, Iran and Venezuela might have a different view. Of course a Russia in a recession with the resulting instability is not a good thing, but it can be fun watching them suk for awhile.If OPEC keeps oil prices low, could they be responsible for dragging us out of this global recession? Arab nations (and Venezuela) supporting decadent capitalism. Irony.
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