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General Discussion

upaloopa

(11,417 posts)

8. Oil from tar sands and shale costs more to extract

Reply to LonePirate (Reply #3)

Mon Oct 20, 2014, 03:00 PM

Oct 2014

The Mid East oil is forcing prices to fall below the point where getting that oil is profitable.
I read this last week that since we are now exporting oil the Saudis are trying to force the prices down below our cost to extract oil.

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Global oil prices likely to touch to $60/barrel: Osama Kamal [View all] stevenleser Oct 2014 OP

And global warming will accelerate. But at least I can drive to my doom with cheap gas. Comrade Grumpy Oct 2014 #1

Depends. Some of this is from less demand. We will have to see how it shakes out. nt stevenleser Oct 2014 #2

If oil and gas are going to be considerably cheaper, then why do need the Keystone pipeline? LonePirate Oct 2014 #3

Oil from tar sands and shale costs more to extract upaloopa Oct 2014 #8

That would be below $70 for sure Yo_Mama Oct 2014 #33

It's been a long time since we had price war over oil. bemildred Oct 2014 #4

Interesting times ahead, indeed. Ykcutnek Oct 2014 #5

From the 1st link ... 1StrongBlackMan Oct 2014 #6

We're trying to do the same thing! Blue_Adept Oct 2014 #30

Does Obama get the credit? rickford66 Oct 2014 #7

From Republicans? Bahahahahahahah stevenleser Oct 2014 #13

Thanks, I needed that. rickford66 Oct 2014 #19

It's amazing who took notice when America went Oil positive Schema Thing Oct 2014 #9

Thomas Friedman seems to think it was a deliberate swipe at Russia and Iran stevenleser Oct 2014 #12

The Saudi's may be "allies" in the swipe at Russia and Iran Schema Thing Oct 2014 #20

come on 60 strawberries Oct 2014 #10

The positive effects on the US economy can't be overstated. It would be overwhelming. stevenleser Oct 2014 #11

The effects would clearly be overwhelming. Overwhelmingly BAD NickB79 Oct 2014 #15

I have heard one concern is deflation davidpdx Oct 2014 #24

I think the demand from new hired workers would work to counter that, AND once the stevenleser Oct 2014 #35

$60/barrel oil will kill the oil boom in N. Dakota NickB79 Oct 2014 #14

This, if OPEC allows it, would be to kill US production FLPanhandle Oct 2014 #16

The solution customerserviceguy Oct 2014 #26

Domestic production would decrease and less incentive Dawson Leery Oct 2014 #17

Maybe less incentive, but many consumers will still invest in solar and wind, etc. Tikki Oct 2014 #22

If it does it could turn our economy around in a real way herding cats Oct 2014 #18

This message was self-deleted by its author KinMd Oct 2014 #21

Woohoo... Screw Musk, Tesla, the Battery Gigafactory and transitioning to sustainable energy !!! Fumesucker Oct 2014 #23

Not really. Even at $2.75 a gallon of gas, a Tesla is attractive stevenleser Oct 2014 #25

Remember the gas price jump back in 2008? Fumesucker Oct 2014 #27

The cheaper energy is, the easier it is to waste The2ndWheel Oct 2014 #28

Somehow I suspect Europe and most of the rest of the world will resist buying F150s Fumesucker Oct 2014 #29

You know that KW is not a real thing, right? A HERETIC I AM Oct 2014 #31

That's why I love DU... Fumesucker Oct 2014 #32

Europe and the rest of the world are different than the US The2ndWheel Oct 2014 #34