But there are people here that say off shore drilling is cheaper than fracking.
What gives with that?
Well,that is the LATEST report.
Ya know...like LAST month. All year people have been saying the shalers are going out of business....going broke.Their production is only 2% off their high.
The Saudis are dancing a dangerous dance here.
Well,why am I even arguing here.....LOOK AT THE PRICE OF OIL.
60% of the fracking rigs that were in operation last year at this time are down,but only a 2% reduction in production.
This last July was almost a record breaker AGAIN for shalers.
The shalers just pick up the bit and move it, many times, just a few hundred yards over and drill again. It is no big deal and there are tens of thousands of known locations to hit pay dirt.
E o M
Down $12 then up $2?
Still hanging in there.Cost basis $128.10 in Feb.
"Hey"............no kidding !
And if it goes to $24 you make 400%.
Now try getting down to reality,why would it go to $12?
Especially since we are heading onto the WINTER DRIVING SEASON,where everyone takes their long awaited vacations and just gets out on the road to see America.
Everyone knows that gasoline usage just SURGES after Labor Day.
Mmmmm.....what did Goldman Sachs say about 15 months ago about the future price of crude when it was over $100 then?
I'll tell ya. "Crude futures should rise accordingly with demand,with China and India consuming more gasoline stock especially as China continues its unabated upward movement."
I believe he means if one only bought 7 shares.
So it is true then that an investor wouldn't lose much.
SOME PEOPLE NEED TO AIM A LITTLE HIGHER !!
Stickryder: I dunno what happened. I see where you have posted,but for the life of me.....there is nothing.
Please call back and try again.
There will be some SERIOUS buying opportunities come next week.
And I don't mean Sea Drill.
I believe you are correct.
There has been NOTHING BUT BAD NEWS coming out of China since the close of the bell here on Friday.
I believe one of them is around 300-350 million each.
What will SDRL do with the dozen or more that are due to be delivered in 2016?
I suppose the day rates will have to be slashed a LOT if they want for them to be used.
Lost 7.5% TODAY alone.
AMBA is looking like every other stock out there lately....forget the past year,month or week what's that light at the end of the tunnel?