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Gamakatsu

Does Obama really want higher oil prices?

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Listening to Bloomberg today, one of the guests said that half of our GDP growth and much of our job creation is coming from the shale oil business. If oil prices continue to collapse, it will almost certainly hurt growth more than it will help it. One man's opinion, but it makes sense.

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Price decline won't be permanent, demand isn't what was expected 10 years ago, but costs to produce those marginal barrels are higher than market. Lower prices kill exploration and investment at some point and certainly won't help alternative energy innovation.

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From what I understand, once the price of a barrel drops to 75 bucks ...its not longer profitable to drill.

 

We're pretty much there. It was around $76 bucks earlier today. Not sure how accurate that number is though.

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But Obama keeps telling us that our economic recovery is going great. :confused:

 

How can 1/2 our growth and most of our new jobs be coming from a single industry when they keep touting these job growth numbers every month?

 

I find it hard to believe that much of our growth and jobs come from one industry that this administration hates.

 

JMO but if oil prices continue to collapse it's because our economy is still in the *******.

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But Obama keeps telling us that our economic recovery is going great. :confused:

 

How can 1/2 our growth and most of our new jobs be coming from a single industry when they keep touting these job growth numbers every month?

 

I find it hard to believe that much of our growth and jobs come from one industry that this administration hates.

 

JMO but if oil prices continue to collapse it's because our economy is still in the *******.

 

He's lying, Obama that is.

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But Obama keeps telling us that our economic recovery is going great. :confused:

 

How can 1/2 our growth and most of our new jobs be coming from a single industry when they keep touting these job growth numbers every month?

 

I find it hard to believe that much of our growth and jobs come from one industry that this administration hates.

 

JMO but if oil prices continue to collapse it's because our the world economy is still in the *******.

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One thing for sure is that Oil has become a political weapon which obviously is not good for us, the consumer.

 

It's good for us right now.

 

Cheap oil might actually spur the economy(liberals and enviro nut jobs hate this prospect)

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Obama personally stated he wants oil prices up around four bucks a gallon. Out of his own mouth. However, he lies about everything else that comes out of his filthy mouth so I'm not sure I believe him. Quite a quandary...

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What happens with low oil prices, or should I say, what has happened in the past, is that marginal wells get capped.

The oil companies are very adept at knowing which wells pay for themselves.

The oil in the capped wells isn't going anywhere, and will be there when the price warrants.

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