Senior Contributor
Posts: 583
Registered: ‎10-16-2018

Re: The end is near

No, I'm not in the Permian. An accountant for one of the producers down there said their cost of production in that area is below $50.

I have spent some time down there. Depressing seeing all the rigs stacking up during the last couple years of Obama. The area was taking a beating. Last time I was down, it was busier than the when oil was priced twice of what it is now.

Amazing how under Obama administration they were going bust, yet now it's booming with oil below what you believe to be break even. Surely it has nothing to do with regulations.

And everytime the world is running out of oil and gas, they just happen to find another "largest reserve in history".

Yeah I remember how much oil production Obama was pushing on federal lands.....i bet they were just about to find this. Lolol

Let me know when we run out....I'll be sure and turn over in my grave as they just start producing the next formation with whatever technology has come along in the mean time.