Slickflick

OPEC Signals U.S. Rally

I'm writing this as a small,independent oil & gas producer operator in Oklahoma. Fred X and fxtrader are knowledgeable chaps. Spot on!
My take: the US imports only 3% of its crude from Saudi proper. The bulk of our imports come from Lord Hugo,Mexico and Canada. While the economic arguments are fair...there are some powerful forces in the NYMEX casino,Rotterdam and Moscow who want the
US dollar "tubbed" as the international settling currency for crude oil purchases and sales. You missed that one,men ! However, on the home front..the costs to drill,complete and produce ANY new well..from a posthole depth to an offshore deep probe have sextupled(or greater) in the last 8 years. Whether it is greed,inflation or the other guys on the upstream or downstream side of oil and natural gas E&P wanting their share of the pie...
it now takes a hell of a well to generate a 3 year cash-to-cash ROI.
There are no more BIG vertically drilled wells in the continental US.
Out here in the trenches(and out there in the Never-Never tranches)
the oil & gas game at these idiotic prices is the tail wagging the dog.
The only price-at-the-pump "lifejacket" left is abolition of all fuel taxes until this madness turns. But, governments never make sacrifices..do they? No more rambling..Fred X and fxtrader said it all..