/biz/ - Business & Finance

>>49721766
Nobody saw the inflation coming

>>49721789
>nobody saw inflation coming
>except oil companies
>except banks
>except people investing in PMs
how delusional are you people

That's what you get for pumping green energy scams. Do they even realise that food doesn't arrive in an ev truck? Because those don't exist. Do they even realise that batteries need lithium we don't know we have? Do they even realise most can't afford evs

Available oil reserves are at an all-time-high. We don't burn it faster than we can find it.

>>49721897
What's the eroi for a tesla or any ev for that matter?

>run out of oil
>hurrrr its the green energyfags who tried to not use oil who are to blame

The US is literally just retarded in how it is handling domestic oil production. The left has been politically posturing on it for years and they're mostly to blame for the US not having good domestic production. Joe Biden shutdown the Keystone pipeline almost exactly 1 year ago today. These gas prices are literally his fault, not even congress or senate because he did it through executive order.

>>49721789

>everyone is a retarded keynesian like me

lolno

We're nowhere close to running out of oil, literal decades of known supply

>>49721789
You must be trolling. Look at the fucking money supply. Not even a shitcoin could go up that much
>>49721961
And who gonna dig it out?

>>49721766
Nobody's running out of oil, there's a ton of oil retard.

>>49721865
You won't have PMs without oil either you fucking idiot. How many fucking pounds of oil does it take to make one silver bar? You're fucked

>>49721766
you have to be over 18 to post here, sport

>>49721789
Everyone was expecting it in 2019. Along with a stock market and housing crash.

>>49721991
>there's plenty of oil
>no one cares that it takes more energy to dig it out than you get by burning it
>literally burning oil just to consume oil
kek, we are so fucked

>>49722122
>let's just take the recession and push it down the road

>>49722038
>You're fucked
my point exactly

>>49721979
>The left
you sound like a retarded boomer. biden extended the trump admin leases. they have more land than they are currently using and refuse to initiate any further production. they are keeping it as is and using inflation to their advantage for higher profits. they've said so themselves.
>literally his fault
how much fucking low IQ "news" do you watch
you sound like you'd unironically like to see the oil companies nationalized, which would pretty much make you part of "The left"

>>49722141
I don't believe that's true, either way renewables are complete shite anyway. We should have just gone nuclear

>>49722198
oh

That's as absurd as starving in your house because you won't go to buy groceries.
You deserve it. You're a nigger. There's no shortage, but you can only halt a suicide for so long.

>>49722271
>go nuclear
Yes, we should. However, boomers was afraid of muh radiathiun, so we closed down the plants instead.
The consolidation price is boomers losing their pensions due to massive inflation

>>49722243
>On January 20, 2021, President Joe Biden signed an executive order to revoke the permit that was granted to TC Energy Corporation for the Keystone XL Pipeline (Phase 4). On June 9, 2021, TC Energy abandoned plans for the Keystone XL Pipeline.
I knew you want to be a contrarian faggot about everything all the time to the point where you refuse to acknowledge politics has an effect on the world and shockingly domestic policy+economics, but come the fuck on nigger

>>49721766
>refuse to drill own oil
>needlessly antagonize one of biggest oil exporters
>were running out of oil
Kek

>>49721766
>completely fuck over US energy production
>wtf we're running out of oil!!!?!!??!!!?11!?11

There is plenty of oil. The problem is politicians don't want it. There isn't an energy crisis at all. It's all manufactured for political reasons. Just remember when everything comes crashing down. There is oil available and they won't let you have access to it. There is going to be war in the coming decades because the elites are slowly constricting the populace into being subservient to their whims.

>>49721766
America decided to destroy itself lmfao.
Russia and China won bigly.

imagine believing oil runs out lmao
oil wells refill themselves
it is called abiotic oil and the jews dont want you to know about it because the fair value for a barrel would be like $5 adjusted for inflation

>>49722565
>contrarian
interesting word choice for a side-brained retard.
no shit thats not a good thing, but the US isn't even at max production. do you actually think we are or ever were? biden is still issuing drilling permits at a faster rate than trump. oil companies have the fucking land, they just refuse to do anything. i know it's more satisfying for you as a low IQ individual to use your sportsball mindset of politics. it's a little bit more complex than that.

>>49722835
America is committing suicide

>>49722446
God I hate boomers

>>49721766
There is plenty of oil and I mean really PLENTY. The problem will be, and already is to an extent that all the cheap to dig out reserves are used up. We are left with the ones which require heavy capital investment to get out. So oil is here to stay albeit it'll keep getting expensive (at a slow rate, this recent jump in price is just due to money printers)

i think its funny that we are all pointing fingers at each other.

but the writing on the wall
"blame putin"
"no one wants to work"
means companies and governments are gearing up for a great conflict that started with a global feminist outcry followed by shitposting reactionary nazi lol so randum faggots.
they want this past decade buried, and they will use a world war to bulldoze it into a mass grave.

>>49721766
I am sure that we still oil reserves that can last us globally till like hundreds of years at least
The problem right now seems to be with the trade and shit idk
Many countries don't want to buy russian oil for stupid reasons like to not be associated with them
But then proceeds to buy oil from countries that did buy from russia, which obviously now costs much more

>>49721766
We haven't run out of oil though.

>>49722835
He literally unilaterally destroyed an energy option that would have prevented this very situation singularly by himself without due process for political posturing. He single handedly pointed the gun at America's foot and pulled the trigger. Himself. No one else. Had he not been elected, it would not have happened since it was done through E.O. Your whole AKCHUALLY POLITICS DONT MATTER midwit take is contrarian retardism.

>>49723045
politics matter but not in the steven crowder way that your retard brain works. i cant tell if youre 15 years old or 70 with this histronic bullshit.

>>49722741
Fucking this.
>>49722753
Also this too. There's oil, but these politicians make bank off insider trading on oil companies. They are allowed to short oil companies before passing legislation to strangle them, and no one calls them out on it.

If we don't DO SOMETHING in the next 12 years the planet is literally going to die of heat exhaustion. High gas prices? Yep, I think its necessary and if Biden said it was an accidental, he's lying. If you know Global Warming is real, you know we don't have a choice. Either we turn of the pump or fossil fuels will end civilization. PERIOD

>>49721766
>he thinks we're ever going to "run out" of oil
You seriously cant deny the existence of braindead NPC retards like OP

The solution is simple, we compress liberals into oil

Yes daddy exon. Put it in my water hole. Make me drink oil.

Reminder even oil companies have moved on from the "peak supply" mindset to a "peak demand" mindset. In other words we are no where fucking CLOSE to running out of oil.

>>49721766
The oil is far, far, far from running out.

>>49721961
>We don't burn it faster than we can find it.

lol what? oil discoveries peaked in the late 1960s

>>49724077
>The oil is far, far, far from running out.

affordable oil is running out, and thats all that matters.

>>49721766
Why aren't you niggers buying Uranium as of 1 year ago?

>>49724108
It's only unaffordable because of gay ESG and a hostile government

>>49724108
What the fuck is "affordable oil?" And why did we have plenty of affordable oil from 2015 right up until the demented clown came into office?

>>49724108
You are full of fucking shit. There is tons of oil that can be produced here in the states alone. Sure its not as cheap as the sand niggers get it, but its far from cost prohibitive

>>49724051
>Reminder even oil companies have moved on from the "peak supply" mindset to a "peak demand" mindset.

it's one way of coping with the forthcoming collapse in living standards due to lack of affordable oil.

just pretend we didnt want it anyway.

>>49724169
>It's only unaffordable because of gay ESG and a hostile government

its unaffordable because we long ago used up all the good oil fields.

now we're scraping up the dregs, expensively.

>>49724180
>You are full of fucking shit. There is tons of oil that can be produced here in the states alone

yes there is, its very expensive to produce and its crappy oil.

there will always be oil in the ground, thats not the issue. most of it will stay there.

>he fell for the finite oil meme

fucking lmao "nuke" yourself into "space" you fucking sheep

>>49723798
Do you think any resources are finite? Just asking no cap

>>49724173
>why did we have plenty of affordable oil from 2015 right up until the demented clown came into office?

we didnt. it cost too much to produce for the oil price at the time.

>>49721979
Dude if you dont extract it then its remaining there not gonna go anywhere. In the long run that could be even good, let others use their petroleum and when reserves start drying out and prices go up open yours. Doing it wisely could be good idea. Also petroleum doesnt run out, the way of extracting it is pumping other liquid inside the bubble so it flows upward, they stop when the petroleum is so diluted that its greater the cost of following than the benefit. So the rises in petroleum price could make those places attractive again. Its not that simple

>>49724344
Check the fucking charts.

>>49722981
Redemption arc
Genuinely hope he ends up happy

>>49724364
>Check the fucking charts.

like i said, it cost too much to produce. it was fuelled by debt, not profits. and its crappy oil. no good for diesel.

>>49722038
Anon, an end to the supply of silver production only helps current holders most of which expected something like the current shitstorm and have been buying for years now.

>>49724411
Incomprehensibly retarded. At the same time "green"fags want to absolve themselves from responsibility for plunging the world into an energy crisis.

>>49724173
>What the fuck is "affordable oil?

affordable oil is oil that customers can afford, that producers can make good profits on, and is cheap enough to also allow government to make good tax revenue.

>>49722835
He sanctioned global energy imports and has not made any attempt to engage with domestic producers.

>>49724307
>its too expensive to produce and crappy
Lmao no its fucking not. If your refinery is set up for ot you can produce the same shit. Also producers in the US are profitable at $30 bbl oil. You are completely full of shit.

>>49724217
Why the fuck would producers need to cope?

>>49724507
>Incomprehensibly retarded.

what dont you understand about 'cost too much to produce'?

>>49724606

>>49724597
>Lmao no its fucking not

lmao yes it is, and refineries are fuck all to do with producing oil. you really have no idea what youre talking about.

>>49721766
>blocks pipelines
>refuses to open new leases
>refuses permit new projects
>does not repeal Jones act
>threaten oil CEOs with jail time because of climate change
>discourages capital investment in exploration, production, refinery, and transport of oil

There is enough oil till the 2100s at a sub $50 per barrel price even without a demand draw down. What you are seeing is the end result of two decade all out assaults on the industry by green political activists. Which the Dems in the US and the Libs & NDP in Canada have been caring water for.

>>49724733
>There is enough oil till the 2100s at a sub $50 per barrel price even without a demand draw down.

erm, no there isnt.

>>49724597
In theory everyone buying electric cars, demand would remain only with polymer, asphalt, commercial and primarily diesel at that. Mind you that's not feasible currently and won't be happening anytime soon. Also may be expecting a short term extreme drop in demand a la 2008 and 2020 which is why producers may be slow to bring prospective projects online but it's hard to say if that's still holding them back.

>>49724647
>refineries which refine crude into all the various uses has nothing to do...
You are fucking trolling me right? You realize you were the one talking about how its "crappy" right? Which is literally irrelevant since it can still be refined.

>>49724775
>In theory everyone buying electric cars, demand would remain only with polymer, asphalt, commercial and primarily diesel at that. Mind you that's not feasible currently and won't be happening anytime soon

electric cars are a product of the oil based economy like everything else.

>>49721766
There's plenty of oil though

>>49724809
>You are fucking trolling me right? You realize you were the one talking about how its "crappy" right? Which is literally irrelevant since it can still be refined.

what i said was its useless for diesel. its too light. like i said, you really dont know what youre talking about. you're embarrassing yourself.

>>49721766
We didn't run out of oil. The Biden Administration started office by cutting off American supply; and then he picked a world-fight with three of the largest oil producers in the world.

What we have here is what used to be called "comeuppance". This is simply dem plans failing so fast that they don't have time to leave office and blame the other side first.

>>49724827
>There's plenty of oil though

meaningless statement. affordable oil is running out.

>>49724827
As long as you don't mean the United States, ya.

>>49724875
>The Biden Administration started office by cutting off American supply

no it didnt. it cancelled drilling licences on federal land which nobody wanted anyway because they knew there was no oil.

>>49724948
see >>49724733

>>49724823
Until everything is electric, hybrid equipment/electric drive does currently exist and unironically has been well received at least cat's stuff and could progress further given enough time. Not deluded enough to think full electric is any time near but with enough mining and investment it will happen. https://www.cat.com/en_AU/news/machine-press-releases/new-cat-d6-debuts-worlds-first-high-drive-electric-drive-dozer-top-grading-performance-fuel-efficiency-gains.html

>>49724173

I can answer that.
Shale drilling only took place for the duration and intensity that it did because private equity was able to funnel ZIRP credit money from Wall Street to the oilfield, mainly in West Texas.
They borrowed and borrowed and borrowed to develop shale acreage.
This acreage was jam-packed with wells; up to 25 per square mile, each costing between $7-9 million each.
These wells produce nearly 80% of their recoverable oil within the first two years of production, then drop down to 6-9% of their initial production for the remaining 40 years they stay on.
What this means is that it's very, very difficult to drill and develop acreage to just hold and cashflow forever at reasonable prices/barrel ($50-70), like oil companies have always done.

Instead, these people had to model for short-term development and an eventual sale to a major oil company.
This worked in the short term...until 2014 when the resulting supply glut caused oil to crater to $38/bbl. All the buyers disappeared because the economics suddenly looked like shit.
Then the price started to recover and everyone went "phew, glad that's over", refinanced their debt on terrible terms, and started drilling again...
which caused another supply glut.
Oil crashed even lower, to $26 a year later.

A bunch of companies went out of business.
The ones who remained eventually began to drill enough wells that they ran into a lovely little problem called "parent-child interference".
It turns out when you space horizontal shale wells 200 ft apart, fracking decreases the reservoir pressure more than anyone had expected. So subsequent wells produced quite a bit less.

The moral of the story is that shale oil is there.
It's underneath American soil if we need it. But supply is extremely price elastic and it's not nearly as reliable as anyone originally thought.

>>49724733
For next time, you let out one...
> currently refuses to allow US refineries to produce more gasoline because their factories don't meet the updated EPA requirements.

We have more crude than we know what to do with. Just a few years ago, there was so much, that there was no storage. We have the pipeline to move it to the refinery, and another pipeline to move the gasoline all over the country.

And yet the Biden Administration says no; $8/gallon gas is a small price to pay for achieving their climate change goals.

>>49724861
>light crude cant be turned into diesel
Are you being dishonest on purpose? Otherwise why pretend like you know anything when you clearly don't? Also good job trying to move the goalposts.

>>49724961
>>>49724948 (You)
>see >>49724733

i see a retard talking shit.

>>49725032
>light crude cant be turned into diesel
>Are you being dishonest on purpose?

good luck with turning light crude into diesel. if you figure it out, please tell the oil industry.

>>49725019
>We have more crude than we know what to do with

1) you dont
2) its crappy crude

as an update to this >>49725019 . In the same week that the Administration is yelling at the industry for making "unfair profit", they're secretly asking them how quickly they can reopen the factories the administration shut.

https://www.yahoo.com/video/biden-administration-seeks-restart-idled-130000398.html

The dems want it both ways. They want to take the food out of the hands of the people who grow it; and then insult them for not producing enough as they throw the bread in the garbage

>>49721789
The only ones who didn't were the federal reserve you fuckwit

>>49725106
WTI is fine. It's not Brent, but it's usable, and already makes up a large portion of the budget-brand gasoline sold in the US.

We have enough US based oil to supply our needs for the next 100 years. Alberta probably has more oil that Saudi Arabia.

>>49725007
>The moral of the story is that shale oil is there.
>It's underneath American soil if we need it

it wont be possible to extract it in future. needs too many resources and burns too much fuel. it just wont be affordable for the future shrunken economy.

>>49725075
That's exactly what they do though ... There is more fuels (including diesel) to be distilled from light crude than heavy crude. Light crude usually has less sulfur too so the diesel is more "clean."

>>49724770
Canadian oil sand producers can produce a profit at sub $40 a barrel using open pit mining. They can produce a profit a sub $55 a barrel using SAGD. That price of SAGD is still coming down because of the introduction of solvents and other innovations.

Half of the US shale oil producer can produce a profit at $40 a barrel.

The minable amount of oil in the Canadian oil sands is above 160 Billion Barrel, that is enough to supply more than third of the North Americas demand for 100 years. Shale oil reserves in the US are deep as well. There is plenty of oil supply for the foreseeable future.

>>49725166
>WTI is fine. It's not Brent, but it's usable, and already makes up a large portion of the budget-brand gasoline sold in the US.

shale oil as produced from fracked wells is not WTI

>>49725203
>That's exactly what they do though ... There is more fuels (including diesel) to be distilled from light crude than heavy crude

no they dont and that isnt true.

>>49722271
renewables have come a long away. but you're right nuclear would have been good in addition.

>>49725211
>Canadian oil sand producers can produce a profit at sub $40 a barrel using open pit mining.

tar sands simply isnt worth doing. i highly doubt all the costs including cleanup are being correctly factored in if they are claiming they can make a profit at $40 oil.

>>49725007
This is basically the real problem. Shale oil and American Tar and Heavy crude suck mega asshole and we need relatively high prices to make them worth extracting. Keystone XL would be actually nice, but I doubt Canucks can reasonably extract without high barrel price. Hell the demand is so shit they're having a hard time getting the oil on a dock in their own country.

Shit sucks but that's the world. We need to get more nuclear, convert cars to natty gas or ban cars too (lol) and go full public transportation. Better get ready to bus down with niggers cucks. Welcome to the boomer created future.

>>49725174

The economy isn't shrinking.
Our government is endlessly importing immigrant labor, and birth rates are barely below replacement.

The government taxes the average person's income at a 20% effective rate, and what's left over they devalue at 2-3% annually through inflation. This is to ensure they have to keep working.

As far as the dollar devaluing, money doesn't equal value. Value equals value. And it costs value for everyone in the western world to keep their lights on, water running, and food on their table.

>>49725211
>Half of the US shale oil producer can produce a profit at $40 a barrel.

bullshit can they, especially now all the best places have been drilled.

>>49721766
Yeah this is a lie and you are dumb

>>49725310
>The economy isn't shrinking.

yes it is. its in recession already.

>>49721766
>oil price goes up
>haha see I told you we’d run out of oil eventually!

>>49725331
>Yeah this is a lie and you are dumb

he is right. its just hard to explain anything complex to the likes of morons like you.

>>49725365
>>oil price goes up
>>haha see I told you we’d run out of oil eventually!

how do we reduce the oil price?

normally the answer would be find more oil. but we can't find any.

>>49725212
I don't usually say this, but "look to Canada".

Up there, the system was this...
Petro-Canada (now Suncor), partnered with TransCanada Company (now TC energy) to develop the oil sands of Alberta.

TransCanada had the oil production, refineries, and gas stations; and Transcanada had the pipelines (including Keystone).

If prices low, you refine a little and sell the rest of the crude. If prices are high, you refine more (to bring down prices), and sell the excess. It's a system in which everyone benefits; and it only gets screwed up with the politicians try to act like oil industry experts.

>>49725426
you mean blend the light shale oil with heavy oil from the canadian tar sands?

yes, that works.

>>49725211
Strip mining can only recover about 10% of Canadian tar sands, the rest is much more expensive. The process for extracting the rest(SAGD) is inefficient energy wise and could never sustain 40$ a barrel

>>49725291
>more cope
SAGD is just oil jacks with some addition buildings for steam production.

Even the pit mines are not that big and plenty of land has gone through the first stages of reclamation where it looks a field of grass.

You should not speak on a subjects on which you know nothing and where the misinformation you spread has come from anti-oil activists and journalist.

>>49725075
You are literally wrong stop posting already. And again good job moving the goalposts.

>>49725305

I'm surprised you're not praising Trudeau and Canada. You sound like a Communist.

If western civilization is a house, then market determined pricing for production, transportation, refining, and distribution of oil is the foundation upon which that house is built.
What you have seen over the last 8 weeks is the result of government nincompoops foolishly believing that they can monkey with it.
They cannot.

No other form of energy generation has positive returns. They all cost far more energy than they can ever provide.
The only exception is nuclear, and the American public is pretty clearly of the opinion that that creates a national security risk on a 24,000 year timeline wherever it exists.

The economy cannot function without fossil fuels, and in the words of elon musk eliminating them suddenly would be the end of the world.

>>49725490
>You are literally wrong stop posting already. And again good job moving the goalposts.

i dont need fucking wiikipedia to tell me fracked shale oil is no good for diesel. its universally known to anyone who has a clue.

>>49725354

The stock market is on a downtrend. The secular economy is far more active than it was even 6 months ago. That's one of the side effects of inflation.

>>49724898
Don't think so, if anything until recently oil products have lost value against inflation. The only reason we're seeing a fuel/energy crisis now is the west's decision to move away from fossil fuels
>>49724900
Idk what amerifats are doing

>>49725319
Read S&P global intelligence on the matter. Older plays in the Permian Basin and new ones in DJ Basin and the Eagle Ford Shale meet this benchmark.

>>49725488
>You should not speak on a subjects on which you know nothing and where the misinformation you spread has come from anti-oil activists and journalist.

i know plenty about the tar sands and as i said its not worth doing. its just a waste of resources.

>>49725460
I mean, an understanding of US oil policy post-1973.
> OPEC embargos US in 1973
> Caught with our pants down
> Change US policy as a result
> From now on, we use everyone else's oil first
> Continue to drill, but cap wells when found.
> If OPEC raises price too high, open wells enough to flood market until they lower price.

Whether you're talking wti, shale, oil sands, or whatever; there is enough existing oil reserves (underground/sea) to supply US needs for at least the next 50 years. We have it, but we choose not to draw it off.

Now, with prices high; we can choose to turn on the machine, or not. The Administration says no.

>>49721766
Not what's happening.
>governments shut down economies because of covid
>suddenly oil demand goes way down and the price of a barrel per oil hits negative value
>oil companies go into full damage control, lay off tens of thousands of employees, stop production and drilling
>economies start to recover and demand starts to grow
>oil companies are unable to keep up now because they stopped a huge amount of production
>oil companies now getting huge amounts of money for the oil they do have, and are seeing bigger profit margins than before because competition is down across the board, there's no incentive to increase production when the price you're already getting is giving you record profits due to scarcity
>Russia declares war on Ukraine and 10% of global oil production is now gone from western nations
>this compounds with production dropped in Libya, Iraq and Venezuela due to western nations collapsing those governments
>Iran, Saudi Arabia, UAE, Kuwait and Qatar have no interest in providing western nations price relief and rather want to profiteer as much as possible and see the decline of western powers and their currencies in global trade
>no longer want to use USD and Euro as a reserve currency due to wild inflation
>meanwhile back home, friendly nations like Canada and the US are run by progressives the last 50 years who siphon off and impede production of oil as much as possible so that we're forced into dependency on ME countries

Nothing is running out. This is decades of unsustainable economic policy coming to a head. Get ready for rationing and ethanol laden gas that destroys engines and gets worse mpgs.

>>49725565
>Read S&P global intelligence on the matter. Older plays in the Permian Basin and new ones in DJ Basin and the Eagle Ford Shale meet this benchmark.

i read oil industry experts and they say its definitely not viable at $40.

>>49725469
>Athabasca oil contain about 1.7 trillion barrels
160 Billion barrels is less than 10% of the oil there. That was the amount thought to be recoverable in 2007

>The process for extracting the rest(SAGD) is inefficient energy wise and could never sustain 40$ a barrel
Wrong. We are no longer in the early 00s anymore. New SAGD projects are more price efficient than even strip mining today.

>>49725510
Lol wut? The majority of the oil economy is literally a global government owned and operated cartel. The free market was never in the picture.

>>49725585
>Whether you're talking wti, shale, oil sands, or whatever; there is enough existing oil reserves (underground/sea) to supply US needs for at least the next 50 years

again it does not matter how much is in the ground. its how expensive it is that matters.

>>49722038
bait

>>49721766
I work in Solar.
We tell our clients honestly, energy prices are up because of fear, not because of resources going low.
The resources didn't shrink significantly.
Of course if we keep on going like thos we going to fuck up this place.
But you are wrong to say we are running out of oil, price is a myth.
Same shit as diamonds.
As a German and no violence supporter, fuck Trump.

But also he is correct to say we ripped you Americans off when we didn't spend 2% on military lol, without Americas power in the equation things get tricky.

Now you have Biden lol.
Imagine you had Lincoln and Washington once upon a time

>>49725692
>Wrong. We are no longer in the early 00s anymore. New SAGD projects are more price efficient than even strip mining today.

good luck producing the tar sands when you run out of natural gas

>>49722038
My good man, the PMs I have already stacked care not for the supply of petroleum.

>>49725319
>>49725565
>>49725670

On average, they need $50 to remain profitable, but that's probably up significantly as a result of inflation.
Diamondback, eog, WPX as an arm of Devon energy can all probably have b/e's around $40.

The question is not whether they can produce at those prices, but whether they want to, and the answer all around is a resounding no.
No person working in the oil business today hasn't seen $100 oil. Most have seen it twice.

>>49722868
But we boomers love you. Or, more specifically, your sisters. Bring them on by when the going gets tough and I will be able to help you out.

>>49722038
Nice bait. if oil is prohibitively expensive and we can't mine gold and silver out of the ground that just means the only way people attain gold and silver is to buy it off schizo boomers who thinks Silver is going to $1000 USD a ounce.

>>49725706

Opec wasn't formed until 1960.
The Saudis didn't own and control Aramco until 1976.

>>49725828
>On average, they need $50 to remain profitable, but that's probably up significantly as a result of inflation.
>Diamondback, eog, WPX as an arm of Devon energy can all probably have b/e's around $40.

bullshit. no way its possible with the greatly increased costs of fracking

>>49725809
>My good man, the PMs I have already stacked care not for the supply of petroleum.

and they will be useless. nobody will care about silver or gold when they are hungry.

Should we just take the tedpill? Obviously becoming an oil insider to be part of the elite club is impossible and we will keep hearing manchildren like Elon musk giving us fake bullshit ev will save us memes for the next decade. The government fear the wood burner.

>>49725531
>cant read
>moves the goal posts again
Seriously kill yourself anon

>>49725710
>>49725670
>>49725771
You know nothing on the subject, you have no data to back up your claims, you think that shale oil can't be classified as WTI (hint what is Oil from the Permian basin sold as).

>>49725771
Petro-coke is used to upgrade most of the oil sands today. The reason why SAGD is so much cheaper today is because they cut NG inputs significantly per barrel produced. In the near future EM-SAGD will lower it more. Plenty of other tech in the pipeline. Modular nuclear is way to bypass NG entirely.

>>49721766
we haven't run out of oil nor are we even close, the crisis is happening because of the forced switch to dogshit renewable tech which isn't ready yet

>>49724082
>>49724108
>>49725174
>>49725354
>>49724217
>>49724263
>>49724307
>>49724344
>>49724411
>>49724528
>>49724606
>>49724647
>>49724770
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>>49725771
>>49725959
lmao at this guy getting constantly called out and proven wrong

>>49725075
You can literally turn either heavy or light oil into diesel.
>heavy crude=cheaper to buy but more expensive to refine
>light crude=more expensive to buy cheaper to refine
Also certain refineries are set up to handle certain API crude. For example most of the US refineries are set up for heavy crude.

>>49725924

Yeah those figures are probably a bit dated.
Material costs for everything have gone up. But fracking only accounts for about 15% of the cost-to-completion of a well. Far more scarce right now is steel casing and tubing, and actual materials. So call it $60, and $50 for those who run really tight ships.

>>49723166
I'm almost certain you are under 18

I have never seen this much pseudo intellectual retardation in my life

>Two more weeks

>>49725828
It used to be $50 yet miraculously during the downturn before covid theu were profitable at $30 apparently, granted service companies were being squeezed pretty tight. Also early 2010s it was $70. As tech/knowledge improves it will only get cheaper.

>>49725828
That report was from August 2020, so the price has probably climbed past $50 due to inflation, labor costs, and supply chain issues.

>>49726085

Meh.
He's not entirely off-base. New-drill conventional, straight-hole oil wells at depths shallower than, say, 12,000 ft are getting pretty rare. And production is declining on a global level.

Shale is just a totally different risk profile from an investment standpoint.
Drilling to a porous, permiable reservoir, your risk is literally a bottleneck. Can you identify the formation, hit pay, perf the pipe in the right places, and produce economically over time.
This requires experience and expertise; if you don't pick the right people, you lose your money.

Shale is different. It's not hard to drill a shale well to pay. It's not hard to frack either.
What's hard is the fact that your cashflow from it is heavy on the front end, and then falls off a cliff. So big drops in oil price can lead to margin calls from whoever is financing the drilling, and eventually bankruptcy.

The only way to prevent this would be to be able to accurately predict the price of oil, and if you can do that, you don't need to bother with leasing acreage and drilling wells.
Just buy a bloomberg terminal and trade futures.

Restart and build more nuclear reactors. Problem fucking solved.

>>49726698
>>49725510

>>49722825
Retard, hydrocarbon synthesis resulting from both abiotic and biotic processes at geological timescales. We are consume them at rate many orders of an magnitude of that.
The problem is that we probably had reached global production and demand will not relent. There are no viable alternatives for it in a vast number of applications.
The diminishing portions will be contest by big boys who eventually resort to world war and nuclear exchange to secure their fill.
Easter Island was a cautionary tale and that was with bronze-age era technology.

>>49726780
thorium is vastly superior, cheaper, less dangerous and over all doesn't produce as much waste. But the west will never implement it, why? because this is what they want.

>>49727050
we even had thorium reactors working since the 1950s but chose uranium since some isotope byproducts from it were useful in weapons manufacture (not just nukes) and medicine, but right now there should be no excuse (other than wanting deliberate energy scarcity) to not use thorium reactors

>>49721766
>kill domestic production
>sanction a major production exporter because muh putler
>ruble bounces back
>…
>uhh… m-wh..
>… huh?

>>49724632
gas isn't $1.30 a gallon

>>49721766

>run out of oil

Are u fucking retarded, do u know how deep we are digging ? We are barley touching the surface nigger, we have enough oil for a millenium, do u know what running out of oil even means ? No more plastic no more roads no more modern sociaty ? U think we have that much lithium to power our current civilization, it's a fucking haox stop falling for it

>>49722981
tfw he turned from absolute goblin freak to just your average ugly male.
Hope he'll make it

>>49726780
Agreed. Show me a candidate that supports nuclear and I'll vote.