Its Been a Long Time

The inside word I got while in our North Dakota oil fields last fall was our average break even point is mid to upper 20's per bbl here.

I might not be fraccing this summer but I still see trainload after trainload of oil cars heading out and load after load of pipeline stock coming in every time I am near a BNSF or CP railroad track!

on my charts I see a pretty big decline to around 32 bucks before it hits a temp bottom. last Friday a LOT of options expired and you saw the carnage in the market. it should bounce a bit soon but will not fully recover. I wouldn't go Long again until it spikes and tags the 32 area. if the China numbers are legit ( would they lie?????????) demand for almost all commodities are in the process of seeking a "new normal", this includes how much north American oil they'll buy. the Saudis make private deals, Iran writes their own rules. there no longer is a cartel or an announced legit price they'll sell at. I expect weakness for quite awhile.

you might see it again

nat gas per gallon all of us today

U.S.

2.689

2.629

2.716

0.087

They are going to places where the break point is closer to $75 per bbl. The local refinery is buying ALL oil from outside Pa. The local producers are sitting on their supplies and waiting for the future when the price will go the other way again.

Too bad - I was getting used to the lease roads looking like highways, and being plowed in winter, and the well sites and tanks actually painted - not a rusty mess. Guess it is back to the 1980's again around here.

I don't see the pump price falling more than a few cents.

We're all used to $2.50-3.00 dollar/gal gas now so why pass the savings on to the poor consumer who still has to drive to work?

If only some of the cash were put back in to the refineries.

China is slowing down and their consumption has to be falling too.

Frankly, I'm not sure $40.00bbl oil is good for the world as a whole.

As the business i am in , steel industry, the lower price is killing us.

today could get pretty ugly

it isn't starting well

a 4% haircut to open the day

And Ford will probably have a record year in selling pickup trucks!

this moment the DOW is down 1000 points I want to close my eyes or go to Pluto

ok no more investing talk I promise

almost 6%

Let's be honest, our economies (in the developed world anyways) are based on carbon and the energy that comes from fossil fuels and the business activity that is part of the equation (including all the ancillary economic activity).

The recent and protracted change in the cost per barrel is killing our economies. This is not good for us all.

There is a massive pipeline project going on near me, the north-south project, next to a power line corridor, has one of the largest directional drilling rigs I have ever seen, pulling pipe that looks to be at least 40". The other line is going in on a east-west railroad right-of-way.

I work in the O&G sector now and we're forecasting a downward trend through the balance of the year with minor fluctuations through 2016 and a partial recovery occurring in 2017.

https://raymondjames.bluematrix.com/sellside/EmailDocViewer?encrypt=fb8a34ec-3d40-4226-85b1-bda8c67d7bcd&mime=pdf&co=RaymondJames&id=tjweber41015@yahoo.com&source=mail

As a supplier of OCTG, this will be a telling week with the China market condition added to the mix.