Der Meister

yes i think we will see 150 by the end of the week and 180 in two weeks. We currently pay for fuel for the RJ's so it only hurts us. Sure would be nice to get a 110k bonus over the next two years...

ebl14

At these prices the shale fields like the one in North Dakota become profitable again. I think the price will level once supply is unlocked. Biden could help the cause, but it would pizz off some far lefties.

Farmlover

Future trading is already hitting 200 plus for next month

Trip7

There is no magic wand that will increase oil supply. That's like saying build more houses will stop the Red Hot real estate market. It takes time and capital to increase domestic oil supply, yet even that increases supply won't make a dent in replacing Russian Oil. High Oil prices were anyway, the Ukraine War just accelerated the timeline. Alas the magic wand argument will be used by Republicans in the Mid term elections, and they will win a majority of the races, because when gas is $7+ a gallon, and heating bills are thru the roof, people will vote for wholesale changes

Sent from my SM-N986U using Tapatalk

FangsF15

Really don't want to drag politics into derailing a thread, but you conveniently ignore how energy policy coming out of Washington over the last year+ has played a moderate/major role in why "Oil prices were high anyway", and why we are so poorly positioned to adjust to current world events. And, you also ignore how badly 'blue' was polling long before the current crisis. As with most things, it a lot more complicated than folks want to portray.

Trip7

Agreed. I didn't want to post all the ESG related silliness because that's a whole another story. The Democrats who I believe genuinely want to help the middle to lower class do themselves a disservice by ignoring simple economics. Billions of dollars poured into ESG companies that still need Billions more to support the country on renewable energy. US energy policy over the last few years contributed significantly to the current postion. EU is in even worse shape. And Putin knows it.

This all has become a global chess mess. Putin is betting Westerners cave on Ukraine due to too much suffering from high energy costs before the Russian people cave due to a collapsed Russian economy

Sent from my SM-N986U using Tapatalk

JustNarced

Oil producers are reluctant to further invest in explorations and production after having lost most of a decade not that too far back. Furthermore, green initiates have turned many banks away from lending when it comes to exploration.

If a deal is signed with Iran, they can generate almost 4m bbl a day. If someone shoots Putin in the head and all of this ends overnight there will once again be a major glut, but only if us producers try to fill in the near-term void.

So oil companies are going to sit on their hands and do nothing with the current, 9,000 unused leases. Oil is going to go to 150+. My .02, uranium and eV stocks are going to soar.


Will oil hit 150? Yes. Even if it did, the last time it did was 13 years ago at 147. There has been a lot of inflation since 2008-2009 and if you were to say the price of oil hasn't changed, effectively everything else has doubled in comparison. Maybe 150 is a baseline going forward. If you can afford a 100k diesel truck, you can afford to fill it. Most of the world isn't droning around solo in 8000 pounds trucks. This has been a privilege bestowed upon many by the miscalculation of oil companies in the past. Maybe this is the end of the $59 Bare Fare.

TED74

That’s less than the retro check I’m expecting over the same time period.

JustNarced

The thing about energy is that new sources end up increasing total production but the underlying sources very rarely decline. Just Google-fu "energy growth by type and decade" and one will see that new sources are only in addition to the underlying sources.

The West could cave on Ukraine tomorrow, I don't believe that would move Putin's agenda one bit. Putin has an absolute hatred for the West, Jewish banking cabals and anything woke, LGBTQ, etc. He sees the West as the seed to immorality in the world. I try to remind myself he is the richest man in the world and has a wife of some 40 years younger. He has killed his way to the top. The man is experienced, intelligent, ruthless and without remorse or compassion. That is why I don't think we will see him settle down.

As far as his battle plan, he is still throwing conscripts and reserves at Ukraine, his A-teams are still way behind the fence. His efforts towards killing civilians is to lure another NATO nation into fray where he will ultimately have the backing of all his generals and admirals and then we get to see what a 10/10ths effort looks like. It is also the reason we have not entered the arena. If you look at the map, the Russians are setup for a classic pincer maneuver. Any foreign element that enters that claw will be demolished. Similar to Operation Citadel, which was the last inch eastward the Third Reich would ever move. The US is doing everything it can to protect the USD as the world's reserve currency, this is Putin's target. If he can economically destroy the US without engaging it, he will. If that falls short of his expectations I think we all know where this ends up.

Thank you Clinton for making this man and it's hard to believe we had a president who idolizes him.

TransWorld

Fracking in fields like the one in North Dakota become profitable at $60 or $70 a barrel. It doesn’t take double that.