Re: Gas skyrockets !
[Re: jbyrd63]
#7373772
10/07/21 02:25 PM
10/07/21 02:25 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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The last well I drilled cost 65 million to drill it and complete it. That well last I neared was flowing 15K bbls a day. In 2009 that same well would cost 25 million to drill.
So deer killer you're saying they REALLY was gouging it to us back in 2009 if their expenses were 250 times smaller ! Nope, he's saying it cost him 40 million more to drill a well. Do you think the well drillers set the price of oil? Do you have any concept of a free market? Do you know that on the world market that oil is traded for dollars? Do you know that when the oil prices spiked the dollar was worth 20 percent less than it is now vs foreign currencies? Do you know when the dollar drops oil doesn't go up the same percentage? It could be an exponential increase? Do you know what exponential means? What do you think is going to happen to the price of oil when the dollar drops again?
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Gas skyrockets !
[Re: Steven 49er]
#7373830
10/07/21 04:12 PM
10/07/21 04:12 PM
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Joined: Feb 2014
Posts: 13,059 Ky
jbyrd63
OP
trapper
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OP
trapper
Joined: Feb 2014
Posts: 13,059
Ky
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The last well I drilled cost 65 million to drill it and complete it. That well last I neared was flowing 15K bbls a day. In 2009 that same well would cost 25 million to drill.
So deer killer you're saying they REALLY was gouging it to us back in 2009 if their expenses were 250 times smaller ! Nope, he's saying it cost him 40 million more to drill a well. Do you think the well drillers set the price of oil? Do you have any concept of a free market? Do you know that on the world market that oil is traded for dollars? Do you know that when the oil prices spiked the dollar was worth 20 percent less than it is now vs foreign currencies? Do you know when the dollar drops oil doesn't go up the same percentage? It could be an exponential increase? Do you know what exponential means? What do you think is going to happen to the price of oil when the dollar drops again? I get HIS logic . Gas is higher because it COST more to get the oil out of the ground. (his reason) MY logic is if it was CHEAPER to get the gas out of the ground in 2009 BUT gas was and is the same price at the pump then and now they were REALLY gouging people when "cost" was 2.5 times smaller.
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Re: Gas skyrockets !
[Re: Steven 49er]
#7373832
10/07/21 04:15 PM
10/07/21 04:15 PM
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Joined: Dec 2006
Posts: 481 Montana
Deerkiller
trapper
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trapper
Joined: Dec 2006
Posts: 481
Montana
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The last well I drilled cost 65 million to drill it and complete it. That well last I neared was flowing 15K bbls a day. In 2009 that same well would cost 25 million to drill.
So deer killer you're saying they REALLY was gouging it to us back in 2009 if their expenses were 250 times smaller ! Nope, he's saying it cost him 40 million more to drill a well. Do you think the well drillers set the price of oil? Do you have any concept of a free market? Do you know that on the world market that oil is traded for dollars? Do you know that when the oil prices spiked the dollar was worth 20 percent less than it is now vs foreign currencies? Do you know when the dollar drops oil doesn't go up the same percentage? It could be an exponential increase? Do you know what exponential means? What do you think is going to happen to the price of oil when the dollar drops again? Really I hope it stays at $80-90 bucks a bbl for the next 5 years. I will retire then. Another thing just like everyone we can’t get equipment. We have 26 wells slotted to drill in Angola but we only have 15 well heads and don’t know when we can get them.
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Re: Gas skyrockets !
[Re: jbyrd63]
#7373853
10/07/21 04:46 PM
10/07/21 04:46 PM
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Joined: Dec 2010
Posts: 11,135 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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April 2020
"Oil giant ConocoPhillips announced Wednesday that it’s shutting down its drill rigs on the remote North Slope oil fields, and placing them into long-term storage, to protect its employees and contractors during the coronavirus pandemic.
This winter was supposed to be Conoco’s largest exploration and construction season ever in Alaska. In a statement, Conoco spokeswoman Natalie Lowman said the company is now significantly reducing its workforce on the Slope because of the heightened risk of COVID-19, the disease caused by the coronavirus."
Word I get, is this is still a major problem here.
Who is John Galt?
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Re: Gas skyrockets !
[Re: Dirt]
#7373856
10/07/21 04:55 PM
10/07/21 04:55 PM
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Joined: May 2009
Posts: 15,540 Champaign County, Ohio.
KeithC
trapper
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trapper
Joined: May 2009
Posts: 15,540
Champaign County, Ohio.
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April 2020
"Oil giant ConocoPhillips announced Wednesday that it’s shutting down its drill rigs on the remote North Slope oil fields, and placing them into long-term storage, to protect its employees and contractors during the coronavirus pandemic.
This winter was supposed to be Conoco’s largest exploration and construction season ever in Alaska. In a statement, Conoco spokeswoman Natalie Lowman said the company is now significantly reducing its workforce on the Slope because of the heightened risk of COVID-19, the disease caused by the coronavirus."
Word I get, is this is still a major problem here. I would have guessed that being in the remote North Slope oil fields would make you less likely to contract Covid than being almost anywhere else. Keith
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Re: Gas skyrockets !
[Re: KeithC]
#7373937
10/07/21 07:41 PM
10/07/21 07:41 PM
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Joined: Dec 2010
Posts: 11,135 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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April 2020
"Oil giant ConocoPhillips announced Wednesday that it’s shutting down its drill rigs on the remote North Slope oil fields, and placing them into long-term storage, to protect its employees and contractors during the coronavirus pandemic.
This winter was supposed to be Conoco’s largest exploration and construction season ever in Alaska. In a statement, Conoco spokeswoman Natalie Lowman said the company is now significantly reducing its workforce on the Slope because of the heightened risk of COVID-19, the disease caused by the coronavirus."
Word I get, is this is still a major problem here. I would have guessed that being in the remote North Slope oil fields would make you less likely to contract Covid than being almost anywhere else. Keith People who work at Prudhoe come from all over the U.S. They get in planes and breath on each other on their way to Alaska and then get on planes and breath on each other on their way to the slope. Then they live together at Prudhoe breathing on each other. It was a logistical nightmare in the beginning just to keep operating when these people( non -residents ) were required to quarantine in Anchorage or Fairbanks for two weeks in a hotel before they could fly to Prudhoe to do a two week hitch.
Who is John Galt?
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374098
10/07/21 11:04 PM
10/07/21 11:04 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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Make no mistake about it, the productivity of the shale areas in the United States was a total surprise to the rest of the world's producers. When the shale basins in the US go into terminal decline, and they will in the very near future, the price of all energy will increase dramatically. Kansas thank you for this piece of info.
I get HIS logic . Gas is higher because it COST more to get the oil out of the ground. (his reason) MY logic is if it was CHEAPER to get the gas out of the ground in 2009 BUT gas was and is the same price at the pump then and now they were REALLY gouging people when "cost" was 2.5 times smaller.
No you don't get the logic of oil and gas prices than and now. Producers don't set the price of oil, the market does. The market doesn't care what it cost to produce something. See deerkiller's post about supply in 2009, see my post about the value of the dollar. Supply, demand and a week dollar is what contributed to oil prices in 2009. A large part of the reason oil got cheap is an old adage that says the cure for high prices is high prices and the cure for low prices is low prices.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374133
10/08/21 12:35 AM
10/08/21 12:35 AM
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Joined: Dec 2010
Posts: 11,135 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Well maybe if jbryd goes and catches some coon that a cost him $20 to produce this year he can go to a furbuyer and ask for $25. Then when he gets a $3 offer he will understand he don't set the price of coon with what it cost him to produce one.
Who is John Galt?
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Re: Gas skyrockets !
[Re: walleye101]
#7374150
10/08/21 05:13 AM
10/08/21 05:13 AM
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Joined: Dec 2014
Posts: 2,446 Tug Hill, NY
Squash
trapper
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trapper
Joined: Dec 2014
Posts: 2,446
Tug Hill, NY
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I bet old Fauci and his cronies are beginning to wish they had never invented that Covid thing. I think behind closed doors, Fauci and his political buddies are high 5-ing each other. It got rid of Trump for them and gave politicians and other bureaucrats more power than they ever dreamed possible.
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374174
10/08/21 06:35 AM
10/08/21 06:35 AM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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No I haven't wondered, probably because I don't believe in governments setting prices.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374181
10/08/21 06:44 AM
10/08/21 06:44 AM
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Joined: Feb 2010
Posts: 19,691 pa
hippie
trapper
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trapper
Joined: Feb 2010
Posts: 19,691
pa
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Went from 2.73 to 3.21 overnight The new price(3.21) is right on market, you should be wondering why he was at 2.73 for so long.
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374183
10/08/21 06:45 AM
10/08/21 06:45 AM
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Joined: Dec 2006
Posts: 29,750 williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,750
williamsburg ks
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Yet they are setting gas prices in a back door sort of way. Shutting down production and pipelines. Some up and down is to be expected, but here in KS gas is up 50%. Another dollar will be a 100% increase. I don't know what the true inflation rate is for printing all that stimulus money, but I don't think its 50%.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: Gas skyrockets !
[Re: jbyrd63]
#7374184
10/08/21 06:47 AM
10/08/21 06:47 AM
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Joined: Aug 2013
Posts: 8,312 Firth, Nebraska
jabNE
trapper
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trapper
Joined: Aug 2013
Posts: 8,312
Firth, Nebraska
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Man everything is up. Gas, food, clothing, you name it.
Money cannot buy you happiness, but it can buy you a trapping license and that's pretty close.
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