I hardly call 15% a plummet. Bear in mind, when barrel prices gets too low, it discourages exploration and especially fracking. I’m not sure how sustainably low the price can go, but I doubt it is much lower.
NOTE: It is "WHAT THE MARKET WILL BEAR" that will be setting the prices...this happened back in the late '70's early '80's!!!!!!! We couldn't drill due to the "ENVIRO WEANIES" and it came back somewhat, HOWEVER...with someone who has "MUCHO GRANDE' BOLLOS" I dare any country to to fly one over PDJT!!!!!
Below $45 and they shut the wells down completely, at $50 fracking becomes expensive. Would love for it to stay between $55 and $65 until the midterms.
I hardly call 15% a plummet. Bear in mind, when barrel prices gets too low, it discourages exploration and especially fracking. I’m not sure how sustainably low the price can go, but I doubt it is much lower.
They are opening up new areas,if they are very good producers,they can make good money at the lower price...
NOTE: It is "WHAT THE MARKET WILL BEAR" that will be setting the prices...this happened back in the late '70's early '80's!!!!!!! We couldn't drill due to the "ENVIRO WEANIES" and it came back somewhat, HOWEVER...with someone who has "MUCHO GRANDE' BOLLOS" I dare any country to to fly one over PDJT!!!!!
Below $45 and they shut the wells down completely, at $50 fracking becomes expensive. Would love for it to stay between $55 and $65 until the midterms.