Author Topic: Bakken winding down  (Read 12470 times)

Offline james03

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Re: Bakken winding down
« Reply #15 on: October 14, 2014, 09:57:40 PM »
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What's wrong with dontchaknow?

Yeah, they have that in Wisconsin too.  When I flew up to Wisconsin with Her Royal Hotness, the Scottish female was explaining to me that people talked funny in Wisconsin.  So she starts talking like that with an exaggerated accent.  So I get to the rental car counter, not even thinking about it, and the lady starts by saying, "It's been cooold here, dontchaknow".  My wife is standing there next to me and I couldn't look at her.  I kept a straight face.  Classic scene.

It would be unjust though not to mention they are nice people.
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Offline Heinrich

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Re: Bakken winding down
« Reply #16 on: October 14, 2014, 10:00:10 PM »
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If things are moving: Heck, can I come? I get summers off.
If you are serious, remind me in April.  But watch crude oil pricing.  If it breaches $80 and stays below that, chances are the big money will be behind us.  I might be down on the Gulf by then.

Will do.
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Offline Kaesekopf

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Re: Bakken winding down
« Reply #17 on: October 14, 2014, 11:48:31 PM »
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What's wrong with dontchaknow?
:lol:

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Offline james03

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Re: Bakken winding down
« Reply #18 on: October 15, 2014, 09:46:20 PM »
Her Royal Hotness had better be my wife, you got the Scottish part.   They like to grab Claymores when they get ticked.
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Offline maryslittlegarden

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Re: Bakken winding down
« Reply #19 on: October 20, 2014, 03:51:39 PM »
And I will get to eat cajun food and never here "youbetcha and dontchaknow" again.

James, I can help you with the You Betcha's if you ever start missing them.  Really. :D
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Offline james03

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Re: Bakken winding down
« Reply #20 on: November 06, 2014, 09:16:23 AM »
Crude down to $78.  A blessing for America, means I need to start looking at other industries.  Made one call to my buddy and have started the search.  LNG is where it's going to be at.  Freeport, TX to Lake Charles, LA.
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Offline Jacob

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Re: Bakken winding down
« Reply #21 on: November 06, 2014, 10:59:07 AM »
I read a little article yesterday in TIME about how LNG is supposed to be the savior of the steel industry in the US because it allows for ultra high temps to be produced so that iron can be super concentrated into pellets that can be added to scrap steel when that steel is melted down and reused.  The pellets allow for a stronger steel on par with fresh, newly made steel.
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Offline james03

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Re: Bakken winding down
« Reply #22 on: November 06, 2014, 03:38:29 PM »
I don't know why LNG would do this.  LNG is liquified methane, brought down to cyrogenic temperatures, say around -200F.  This is done to export the gas to Europe, where it is vaporized and then sent into their natural gas pipelines.

Shale gas will definitely help the industry, as it is cheap.  I'm guessing that using gas in their blast furnaces allows them to make higher quality steel, and do it cheaply.  I have no experience in steel making, and that's my best speculation.
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Offline mikemac

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Re: Bakken winding down
« Reply #23 on: November 29, 2014, 07:57:28 PM »
Crude down to $78.  A blessing for America, means I need to start looking at other industries.  Made one call to my buddy and have started the search.  LNG is where it's going to be at.  Freeport, TX to Lake Charles, LA.

Crude is below $70 now.  My brother was telling me that he was reading an article that said that the OPEC nations want to put the fracking industry out of business.  Apparently the fracking industry needs crude to be over $70 for it to be viable.
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Offline Pheo

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Re: Bakken winding down
« Reply #24 on: November 29, 2014, 08:00:21 PM »
It's almost funny how imaginary the price of oil is.  I know that it's based in the principles of supply and demand, but OPEC has almost complete control over what they want the market to charge.
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Offline james03

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Re: Bakken winding down
« Reply #25 on: December 02, 2014, 06:03:32 PM »
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Apparently the fracking industry needs crude to be over $70 for it to be viable.

To be precise, it is the shale oil industry.  Fracking has been around for around 70 years and isn't going away.

Oil somewhere around $67.  No word about layoffs yet, but that will be coming.
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Offline Heinrich

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Re: Bakken winding down
« Reply #26 on: December 02, 2014, 07:03:57 PM »
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Apparently the fracking industry needs crude to be over $70 for it to be viable.

To be precise, it is the shale oil industry.  Fracking has been around for around 70 years and isn't going away.

Oil somewhere around $67.  No word about layoffs yet, but that will be coming.

James, sorry to hear about the turn of events in the Bakken. If what you are saying is true, then a segment of our society is getting the shaft now(the workers and management), while the rest of us will get it later:

 A colleague and I were talking about why the price is so low. I used your OP to make an explanation and said co worker seemed curious as to the matter. I also mentioned that this whole episode is a one step forward, 5 steps back situation. I am guessing that when the powers that be(prescriptive and causal) are done eroding more of the middle class, i.e. crushing the domestic oil industry oil prices will soar to European price levels. This may be the beginning of the collapse or just another cycle in the globally manipulated "free" market. Could this be described as a deflationary situation?
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Offline Lynne

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Re: Bakken winding down
« Reply #27 on: December 02, 2014, 07:08:35 PM »
My husband (a liberal) says that oil prices have fallen to punish Putin. Any truth to that?
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Offline Heinrich

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Re: Bakken winding down
« Reply #28 on: December 02, 2014, 07:13:52 PM »
My husband (a liberal) says that oil prices have fallen to punish Putin. Any truth to that?

That is what I heard today as well. The effects being that Russian infrastructure, both domestic and militarily, are taking a big hit.
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Offline LausTibiChriste

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Re: Bakken winding down
« Reply #29 on: December 02, 2014, 07:24:23 PM »
My husband (a liberal) says that oil prices have fallen to punish Putin. Any truth to that?

That is what I heard today as well. The effects being that Russian infrastructure, both domestic and militarily, are taking a big hit.

Any of you smart geo-political people want to give their insight as to what the end result might be then, if this is true? Will it crush Putin and the Russian "problem" will all but go away, or will it exacerbate things and cause Mr P to act more drastically?
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