Brent crude drops below $59 - should we stop selling it
Discussion
The price of Brent Crude drops below $59 per barrel
http://www.bbc.co.uk/news/business-30491801
It's a particularly fine oil. Should we stop selling it when the price is too low?
http://www.bbc.co.uk/news/business-30491801
It's a particularly fine oil. Should we stop selling it when the price is too low?
saaby93 said:
The price of Brent Crude drops below $59 per barrel
http://www.bbc.co.uk/news/business-30491801
It's a particularly fine oil. Should we stop selling it when the price is too low?
Sorry what? Do you mean should OPEC reduce supply?http://www.bbc.co.uk/news/business-30491801
It's a particularly fine oil. Should we stop selling it when the price is too low?
Its a political play against Russia by the west. So no, they wont.
BoRED S2upid said:
Is it that simple? Turn off the taps, go home for 6 months maybe a year or two then go back and start pumping again? I doubt it very much.
I doubt it too. For a start, you have hundreds of employed people under contract. They will still need paying. I know nothing about oil platforms but would guess they need ongoing maintenance.
TwigtheWonderkid said:
I doubt it too. For a start, you have hundreds of employed people under contract. They will still need paying.
I know nothing about oil platforms but would guess they need ongoing maintenance.
I guess the contracts could depend on there being workI know nothing about oil platforms but would guess they need ongoing maintenance.
In my mind I had the idea of a great big tap that could turn off the oil until the price rose again
onyx39 said:
I am sure that there will become a point if the price does stay this low that producers will consider mothballing infrastructure if its not viable to carrying on pumping though.
There's a difference between the cost of developing and drilling for new reserves as opposed to just flogging what is already there and coming out of the ground.Which is obviously profitable enough when the costs of extraction and exploration etc have already long ago been covered and paid back.What is needed is a large taxation cut on road fuel to match the fall in oil price to get the economy moving and in which extra sales compensate for the lower unit price.The fact is we aren't running out of the stuff any time soon and it is time to stop looking at oil as a precious mineral and more as just another form of cheap fuel which it was always meant to be.Which then just leaves the question of dealing with the global warmist religion by putting it in its place. saaby93 said:
In my mind I had the idea of a great big tap that could turn off the oil until the price rose again
Dan_1981 said:
How do you invest in oil?
Surely the price is going back up at some point?
A few years old but the principles remain the same.Surely the price is going back up at some point?
http://www.telegraph.co.uk/finance/personalfinance...
Ilikebeaver said:
Dad works on the rigs. It's likely that this trip will be his last from his current contract. (Not a bad thing IMO)
Rig will get shut down and will end up getting recommissioned when price of oil increases again
I did some work for O&G in Aberdeen a few years ago, very much backroom, and over the course of a few years the project changed from decommissioning a couple of rigs, to maintaining to refurbing, as the price of crude changed. Rig will get shut down and will end up getting recommissioned when price of oil increases again
For big firms their thinking can be surprisingly flexible. Guess they are accustomed to volatility.
TwigtheWonderkid said:
BoRED S2upid said:
Is it that simple? Turn off the taps, go home for 6 months maybe a year or two then go back and start pumping again? I doubt it very much.
I doubt it too. For a start, you have hundreds of employed people under contract. They will still need paying. I know nothing about oil platforms but would guess they need ongoing maintenance.
XJ Flyer said:
There's a difference between the cost of developing and drilling for new reserves as opposed to just flogging what is already there and coming out of the ground.Which is obviously profitable enough when the costs of extraction and exploration etc have already long ago been covered and paid back.What is needed is a large taxation cut on road fuel to match the fall in oil price to get the economy moving and in which extra sales compensate for the lower unit price.The fact is we aren't running out of the stuff any time soon and it is time to stop looking at oil as a precious mineral and more as just another form of cheap fuel which it was always meant to be.Which then just leaves the question of dealing with the global warmist religion by putting it in its place.
XJ, comments on punctuation aside - that is even more bks than your "contributions" to the Le Mans forum.Some Gump said:
XJ Flyer said:
There's a difference between the cost of developing and drilling for new reserves as opposed to just flogging what is already there and coming out of the ground.Which is obviously profitable enough when the costs of extraction and exploration etc have already long ago been covered and paid back.What is needed is a large taxation cut on road fuel to match the fall in oil price to get the economy moving and in which extra sales compensate for the lower unit price.The fact is we aren't running out of the stuff any time soon and it is time to stop looking at oil as a precious mineral and more as just another form of cheap fuel which it was always meant to be.Which then just leaves the question of dealing with the global warmist religion by putting it in its place.
XJ, comments on punctuation aside - that is even more bks than your "contributions" to the Le Mans forum.Edited by XJ Flyer on Tuesday 16th December 21:50
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