Oilfield Workers

[RaginCajun]

Here you go LB

http://money.cnn.com/2015/11/23/inve...=money_markets

[lovbyts]

I am too but I will try.

They (the Saudis) can produce a barrel of oil for around $10 a barrel of oil and sell it for $40, thus making a profit. For the US shale plays, some operators need oil to be around $60-75 a barrel to turn a profit. We have to go deep into the ground to find it whereas they only have to a few thousand feet. During down times like the present one, companies will invest in research on finding more economical ways to extract the oil (ex. Horizontal drilling). I'm sure Rigpig could explain the completion part.

One thing that I am still trying to understand is the way contracts and futures. I know that some states were counting on oil to be $80 a barrel for their budgets and now scrambling to make cuts and what not to keep up with the sliding price. I will look more into it and try to find some articles on it.

Here you go LB

Oil crash sparks OPEC revolt against Saudis - Nov. 23, 2015

Thanks for that, I get it now. DAMN it's a mixed bag of nuts. Low prices good for us (the consumer) but hurts a lot of our big business (you, oil workers) and actually puts futures at risk. Hmm we pay higher prices and keep profits in the US or pay less for now and risk future profits paying more to Saudi Arabia and other middle Eastern countries.

We need to re think this whole thing of Importing Export so we are not so dependent and volatile to price swings or takeover.