I was waiting for that, but, an increase of about $8.00 a barrel would really kick some butts in this industry...
Personally, I like paying .779 for a gallon of gasoline, just like everyone else. But it's a balancing act between reality and fantasy.
The reality is we got cheap gas, but the fantasy is that we'd like to make money on our oil stocks. And as long as OPEC is in competition with every other swinging oil producing country, and they're out to make money, there's not a lot of hope for large profit margins from US based oil producers.....
Except where NTAH's stripper well technology is concerned. It's definitely the better mousetrap, and once deployed in significant numbers, should allow the PROFITABLE production of oil here in the US, even at these crude prices (pun intended).
Those stinking OPEC types, man, shove a pipe in the sand and money comes out.... Hopefully, that's what we'll all have when NTAH's wells begin to produce.
:-)
And anyone that thinks that the "spot" price for a barrel of oil doesn't affect an oil company's stock price when they're looking to drill and produce "oil" needs to do a reality check, as well as some more DD. Why aren't we producing more of our own oil here in this country now? Think about it for a second.... If I had a chance to make a profit of $5.00 per barrel today versus $12.00 tomorrow when prices go back up, wouldn't my potential earnings per share also increase???
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