Oil closed at $43.67 bbl today.

[Okla-homey]

:(

[Mjcpr]

Yeah, I was hoping for some kind of happy medium.

[olevetonahill]

How Much was it 3 /4 years ago ?

[SoonerInKCMO]

http://www.wtrg.com/oil_graphs/oilprice1947.gif

[SoonerStormchaser]

I thought oil was at $55 bbl last week...so isn't $43.67 good?

[Sooner1979]

I thought oil was at $55 bbl last week...so isn't $43.67 good?


Depends on what you do for a living...For the average consumer, 43.67 bbl is good because it means cheaper gas prices at the pump and everything that trickles down from the cost of cheaper gas...

If you own stock in Chesapeake, you are screwed...

[royalfan5]

Plus the collapse in oil prices may trigger a worse spike in a couple of year as some of the new projects to develop oil sands and other harder to get at fields are being scrubbed or postponed because you don't spend 75 dollars to get a 45 dollar barrel of oil.

[yermom]

i hope they saved some of those record profits...

[olevetonahill]

i hope they saved some of those record profits...

No Shat . Hell they will Prolly want a Gov. Bail out Next .

[SeattleOUstudent]

It equates to a $250 billion infusion to the economy in gas savings. Yay. I can almost fill up for $20!

[yermom]

i still refuse to believe $1.60 gas is cheap gas

[SoonerJack]

i still refuse to believe $1.60 gas is cheap gas

Well it is. Very cheap.

[OUDoc]

Well it is. Very cheap.

It must still be profitable for them.

[shaun4411]

i believe the cost of drilling and refining a barrel of oil is ~$10/bbl

[bent rider]

i believe the cost of drilling and refining a barrel of oil is ~$10/bbl

Which oil? Known land-based pools? To find and drill new oil and gas much more expensive.

[shaun4411]

Which oil? Known land-based pools? To find and drill new oil and gas much more expensive.

shale and tar sands are considerably more expensive sure. but its so cheap to get it from known land based pools and easy accessed producing wells.

[batonrougesooner]

So much for the windfall profits tax thank God.

[IBleedCrimson]

it's falling bc a. International demand is falling bc of global recession esp in India and china and b. Speculators got cut out. No one is bidding up the future price of oil anymore. And thank god it wasn't soon enough

[TMcGee86]

My senior year in HS it was $9 bbl.


call me when it hits that.

[Frozen Sooner]

North Slope crude closed below $40. Since the state budget is based around $80/bbl and breaks even at $60/bbl, that's a problem.

[Widescreen]

North Slope crude closed below $40. Since the state budget is based around $80/bbl and breaks even at $60/bbl, that's a problem.

So it sounds like the state needs to hope this is a temporary dip and they can use all the extra overage they made over the last couple of years to cover the difference. Right?

[Frozen Sooner]

So it sounds like the state needs to hope this is a temporary dip and they can use all the extra overage they made over the last couple of years to cover the difference. Right?

That's the hope.

We stuck about $5B in a reserve account for such an eventuality.

[mdklatt]

North Slope crude closed below $40. Since the state budget is based around $80/bbl and breaks even at $60/bbl, that's a problem.

All of Sarah Palin's executive experience is really going to be put to the test now. :pop:

[Curly Bill]

North Slope crude closed below $40. Since the state budget is based around $80/bbl and breaks even at $60/bbl, that's a problem.

Maybe for you. :D

[jdsooner]

boo frickety hoo!

[SoonerBorn68]

Thank God President Obama is going to pay my mortgage & gas when I'm out of a job in 6 months. :)

Oklahoma's rig count is down from 195 at the beginning of Nov. to 175 today. The highest count for 2008 was 227 I think. The scuttlebut around here is that everybody's waiting to see what the Obama administration is going to do.

http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm

[olevetonahill]

boo frickety hoo!

I agree , Did Yall hear the Oil Companies Crying Fer the Consumers ?
I thot Not . **** em ;)

[olevetonahill]

Thank God President Obama is going to pay my mortgage & gas when I'm out of a job in 6 months. :)

Oklahoma's rig count is down from 195 at the beginning of Nov. to 175 today. The highest count for 2008 was 227 I think. The scuttlebut around here is that everybody's waiting to see what the Obama administration is going to do.

http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm

Bro You Know this shat cycles .
Make Hay when the sun shines , Put enough In the Barn for when it dont .;)