Replies to post #415310 on Tornado Alley (PROG)

[zab]

390,000 Jobs report this morning, once again the economy is just fine under President Biden.

Sure gas prices are higher, but if you plan your trips, and be smart with your funds you can manage this. American's are alwat=ys complaining about something, at least on the news, I wish we would stop killing each other in these mas shootings that happen just about everyday.

Once again you could of always bought a few oil stock in the last year or two, that would off set any of these price increases. If you own a home you have also done well. Capitalism is still what America's is all about.

[Zorax]

“You’re better off deferring that high production rate into a period with better pricing,” Woods said on an investor call. “Depending on how the the market evolves we’ve got the flexibility to bring a lot of those wells back on quickly.”

Thing is at 19 a barrel big oil is still making profits because the barrel cost is below 15 total outlay. The unprofitable they are referring to is not getting the 500% or more profit per barrel they are accustomed to. Imagine the profit margins when it costs you roughly 20 and you're getting 110 per barrel.

For many companies, a key data point in deciding which wells to shut is the operating cost per barrel. Oil has traded in New York for less than $20 a barrel since April 16, closing at $19.78 on Friday. A study by BloombergNEF analysts shows that 45% of the production they surveyed is unprofitable at $30 a barrel while conventional, non-fracked wells and high-cost producers in the Bakken basin in Montana and North Dakota need crude to trade above $45 a barrel.

[stockmule]

Follow the money to the so called green industry which isn't really green.

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