What do you define as ‘current level’? West Texas Crude was $60+ in mid 2015. Less than $25 in early 2016. $45 six months ago. $60+ last month.
I don't get it either. For the majority of the time before WW2, the US was not the preeminent economic, military & cultural power. So that's supposed to be the golden age?
We are no longer in the 75-90 range. That's the big money range. I'm saying 25-55. That's a wide range of pricing but really an average of about 45 as opposed to an average of about 80 with highs into 100s. We are still no where the early 2000s levels and never will be again which was an average of about 85 The average has been sliced in half. What has happened with price and is still continuing is there is no more artificial inflation. Price is pretty much drilling cost. Drilling cost has been slashed because there is no more deepwater drilling because fracking allows more exploration in old shallow Wells. You're missing the big picture. What's happening in Oklahoma is happening in whole countries like Brazil and Saudi Arabia because they were living high on the high price hog. It's was happened to Venezuela
They need to double down on the tax cuts because that will definitely help the economy in OK and increase revenue.
How am I missing the big picture? I simply asked for clarification on what you consider current level since the price has fluctuated $40 over the past 2 years.
If only Oklahoma would see the light. The answer isn't to raise taxes, it's to slash them more! Especially for the job creators - this will fuel the economy and create wealth for everyone so you won't need to worry about gov't at all!
Calm down it wasn't meant to be an insult. The current price of gas has affected a lot of entities. Especially those who invested long term in expensive drilling. Brazil is getting killed because their oil is offshore and to expensive to get to at current prices
You sure make drastic assumptions. I don’t see the big picture. I need to calm down. You accused me of not seeing the big picture for simply asking what you consider current levels, considering oil has fluctuated $40 a barrel over a two year period. And, by the way, you used a six year timeframe for your ‘current level’. Less than 4 years ago, oil was over $100. Anyway, oil is still a round of USA involved Mideast military action or OPEC jerkiness of shooting right back up.
Bobrek All I was saying is the entire dynamic of pricing has changed. Im using the last six years because that's about when it started. The change in supply due to fracking has completely changed price. This isn't a temporary bust. Everyone in oil and gas is adjusting Please I apologise if what I said was insulting.
You can say six years, but it’s been about 3.5. In other words, the drop to your definition of ‘current level’ started in 2014.
I would never live in Oklahoma because of their policies, including taxes. I would never live in California because of their policies, including taxes. Lets be honest. The worst part of Oklahoma is the Thunder.
Whatever The point is it's not a bust. It's permanent. It's permanent because fracking has completely changed the supply dynamic I don't know what point you're trying to prove. All I'm saying is that Oklahoma is tied to oil and just like other entities who are suffering. If it's only 3.5 years it's still a long time and it's never going back to really levels immediately post Katrina
Points I’m trying to clarify - What is currrent level Apparently anything $25-$55 according to you, yet it’s been above that level for at least the last three months - how long have we been at the current level According to you, 6 years, when in reality the oil market started its big dive into this area a little over three years ago - how long will this last According to you it’s permanent and you think it will stay permanent regardless of Mideast destabilization or OPEC deciding to do what OPEC may want to do
I'm giving you an answer that specific price is not what the post was really meant to focus on. The point is fracking has changed the dynamic to where price won't get too high. The supply dynamic in price has changed. You're to focused on specific price hence my comment missing the big picture. Fracking has made oil easily accessible in unforseen amount just ten years ago. There are no more price hikes because of middle East unrest. America has become a net exporter again. It's a paradigm shift
Looking into these details oriented questions will quite simply and obviously obscure the Big Picture.
Wasn't that the time period or newly freed slaves being Jim Crowed, Child Labor and No safety regulations so if a employee was hurt or killed you threw them away and just got another one? Rocket River
