Ferrari Mailing List: Re: Just for those...

[Erik Nielsen (judge4re]

Rick:

The oil sector for the last hundred years can be summarized as:

 

Boom, bust, boom, bust, boom, bust, boom, bust.  Guess what comes next?

 

I knew when I was getting offers of $350k per year in 3Q14 to move to Houston that the cliff was coming soon.

 

On a long enough time horizon, we're all dead, enjoy it while it lasts.

 

Erik

On Mon, Jan 5, 2015 at 2:25 PM, Rick Lindsay <richardolindsay [at] gmail.com> wrote:

Just for those of you who might believe that oil companies are the great Satan:

Small oil companies in the U.S. are considering exiting the sector. Some by choice. Others by necessity. Cost to produce ranges from $45/bbl for the most streamline companies, up to $60+/bbl for some majors. And that's just production, not reserves replacement (exploration).

My company is laying off all it's contractors, perhaps even me. America's oil shale industry will now be dominated by just a few larger, if still suffering operators. And all because Arabs are wrestling back control of the market. They don't care how low oil prices dip because they can't even spend all the money they get now!

So before we celebrate the short term gains of a $2 per gallon fillup, remember where we'll be tomorrow when the Saudis have regained master control.

-rick

PS: With the Kroger fuel points card, I paid $1.45 per gallon!!!

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