How are low oil prices affecting your business/trade?

[NinjaMax]

I was told that the Oil boom in ND is partly the reason for falling oil prices?

ND is only a small piece of it, there are large plays in PA, Tx, Wyo, Co, ND, SD, and Mo, hydro fracking has played the largest role. Oil companies are able to get alot more per well, I know for a fact that the dj basin has the best ROI in the us....but OPEC is at the heart of the reason. Even though they wont come out and say it. The US has become the largest (or close to it) non opec producer in the world. The only way for opec to keep the world under its thumb and slow progression in the US and other countries is drive the price so low that most US based operators are below there break even mark. Which for most of the smaller companies is around the 48$-50$ bbl mark.

Anadarko has already been in meetings with us and a few other local companies about dropping rates, there pretty firm about it too...play ball or else...hopefully the market will stabilize soon.

 

[DIESELMAFIAPER.LB7]

Opec is the sole reason for low oil they have flooded the market to snub out the shale booms

 

[jacobdewey]

Correct me if I'm wrong, but the U.S. has the biggest reserve of oil under our feet. Why don't we give opec the finger and use solely U.S. oil in the U.S.?

 

[DIESELMAFIAPER.LB7]

Correct me if I'm wrong, but the U.S. has the biggest reserve of oil under our feet. Why don't we give opec the finger and use solely U.S. oil in the U.S.?

Due to the epa that won't let us build new refineries that we need to produce what we use on a daily basis.

US uses 19 million barrels a day we can currently only produce 11 million barrels a day. That's why we can't tell everyone to pound sand. If we got the feds out of the way we could easily become self reliant

 

[WolfLMM]

Little or no effect on my work. At least not yet. I work for an engineering firm that deals with solid waste, water/waste water and air. None of those industries in KY have been too adversely effected by oil. I'd imagine the fuel bill for our relatively small fleet of vehicles has gone down a little but nothing earth-moving.

Now, if it stays down a while, it should begin to trickle down in the pricing of goods and services but its too soon for that yet.

I don't believe the price of goods and services will ever come down, cause of cheap oil. Matter of fact, I don't believe oil will stay this cheap for long. Too much american money sitting around, too much revenue for govt, too many peoples jobs depend on higher oil prices.

Right now, opec is weeding out the weak competitors. Once they are done for, supply will drop, price will increase. Imo

 

[NC-smokinlmm]

Booming big time...:woott:

Cheap fuel means people buy, use and refit boats...

 

[WolfLMM]

Booming big time...:woott:

Cheap fuel means people buy, use and refit boats...

Shoot I wouldn't consider buying one now lol, but 6 months ago yeah I would!!

 

[NC-smokinlmm]

Opec is the sole reason for low oil they have flooded the market to snub out the shale booms

Yep, and the middle eastern countries are profitable all the way down to singles digits. I've seen predictions of them holding it at or below 30 a barrel for years to suppress the US and Russian markets. OPEC figures any profit off us is better than none and zero political sway....

 

[Big Block 88]

My wallet is feeling great! Hauling cost per mile is down 20% and thats a figure from december. This month will be even better

So maybe im an idiot and if i am please tell me. How about the big oil companies sit down and make a deal in the price of crude. Somthing like oil will be kept at $XX.XX a barrel for the next 5-10 years most of us will at least the guys i deal with would be willing to pay a bit more per gallon to keep home brew crude goin.

That all being said i have no sympathy for big oil loosing some money... I have been hurting for several years and they line their pockets... Im tired of being beat down by oil companies and this crack shit dictatorship.

 

[DIESELMAFIAPER.LB7]

My wallet is feeling great! Hauling cost per mile is down 20% and thats a figure from december. This month will be even better

So maybe im an idiot and if i am please tell me. How about the big oil companies sit down and make a deal in the price of crude. Somthing like oil will be kept at $XX.XX a barrel for the next 5-10 years most of us will at least the guys i deal with would be willing to pay a bit more per gallon to keep home brew crude goin.

That all being said i have no sympathy for big oil loosing some money... I have been hurting for several years and they line their pockets... Im tired of being beat down by oil companies and this crack shit dictatorship.

They don't loose money the employees they can do though. Oil companies aren't stupid

 

[mike diesel]

It was $18 to fill my s10 from empty the other day:woott:

$18 to drive a week...yes please.

 

[DBUSHLB7]

It was $18 to fill my s10 from empty the other day:woott:

$18 to drive a week...yes please.

I hear that. I've been filling up my company ranger for around 20 bucks. Sadly the Dmax has been in the garage literally since November of last year.

 

[lutzjk913]

Just like sting, I'm in a Similar type of business and we are seeing good numbers. Our fleet of delivery trucks are going strong and the profit margin is better now.

 

[hondarider552]

They say if you want to see how the economy is doing watch the railroads... and we are busy. Lots of tank cars coming through my terminal yard.

 

[NinjaMax]

They say if you want to see how the economy is doing watch the railroads... and we are busy. Lots of tank cars coming through my terminal yard.

And what's in those tank cars?

 

[Awenta]

And what's in those tank cars?

Air!

Sent from my SM-N910V using Tapatalk

 

[DIESELMAFIAPER.LB7]

And what's in those tank cars?

exactly

 

[A. Stock Lbz]

They say if you want to see how the economy is doing watch the railroads... and we are busy. Lots of tank cars coming through my terminal yard.

this. ive worked for union pacific for 9 years now and we are busier than i have ever seen it. car loadings are the highest they have been since 1997 and they are hiring pretty much anybody who is half ass competent. All the old heads used to say that when the economy takes a dump the railroads are the last thing to get affected and the first thing to come back. we started getting busy again in 2011 and havent slowed down since, and they are spending tons of money on infrastructure upgrades and they never do this unless there is a good reason.

 

[CaptPhil]

Since I work offshore, it directly effects me. Cheap fuel is great, but the brand new rigs getting stacked offshore isn't so great. I just hope this downturn doesn't last long, no sense in having cheap fuel if you aren't working to pay for it.

 

[OregonDMAX]

This abundance of cheap crude is good for everyone, if its hurting your paycheck you are in the wrong business