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NickB79

(20,329 posts)

8. Will the boom last with oil that low, though?

Reply to joshcryer (Reply #6)

Fri Jan 4, 2013, 09:07 AM

Jan 2013

Drop the price per barrel too far, and all that Bakken frack-oil and Alberta sludge becomes unprofitable to extract, since it's so capital-intensive. Then, oil prices spike again as wells are shut down.

I'd be surprised to see oil drop below $75/barrel, but then again I've been wrong before.

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Oil prices fall to near $92 a barrel [View all] Omaha Steve Jan 2013 OP

Any time WTI is over $60/bl. DOE should be selling futures against the SPR. Loudly Jan 2013 #1

Let us end the corporate welfare Rain Mcloud Jan 2013 #2

Remember when oil went UP to $50 a barrel? "Disaterous!" trof Jan 2013 #3

Gas prices shot up 32 cent here... WhoWoodaKnew Jan 2013 #4

Why is this a big deal?? ......... Awhile ago they were around $87 Angry Dragon Jan 2013 #5

It'll be down to $60 in 5 years. joshcryer Jan 2013 #6

Will the boom last with oil that low, though? NickB79 Jan 2013 #8

That's fair enough, and OPEC has its motivations. joshcryer Jan 2013 #11

It's because of the release of the FOMC minutes for December Yo_Mama Jan 2013 #7

Free markets are not free. merrily Jan 2013 #10

Media passed up a chance to connect oil prices to the fiscal cliff? merrily Jan 2013 #9