Gas Prices

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jfont

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south central louisiana
I was reading about the oil deposit around the Colorado, Montana area that is supposed to contain enough crude to make the U.S. energy independant. They been knowing about it for years, but didn't have the technology to develope it until now. 58 rigs have moved in since December. Why is this not plastered all over the news, and if it's as good as they say shouldn't our gas prices go down ?
 
Gas prices ain't never going to go down. Now that it's been established that we WILL pay $4 a gallon, the oil companies will make sure that we DO pay $4 a gallon.
 
The price of crude has gotten to the point where it is now profitable to go after the deep stuff. Yes there is a lot of crude out there, pipelines and new deep wells going in, in many areas. Still we have that big problem with not enough refinery capacity.
 
mnmtranching":1qnymqmq said:
The price of crude has gotten to the point where it is now profitable to go after the deep stuff. Yes there is a lot of crude out there, pipelines and new deep wells going in, in many areas. Still we have that big problem with not enough refinery capacity.
Click to expand...

Very key words. "REFINERY CAPACITY"....A lot like the natural gas wells being drilled around here but have to wait forever for a pipeline. Until we get more refineries online it doesn't matter how many wells are drilled or what the production "can be". Still have to be able to refine it and right now we have very limited capacity.
 
backhoeboogie":16f62h1y said:
Is that not natural gas?

Maybe I am confused.
Click to expand...
No, it's crude. Somewhere in the 200 billion barrel range.

On the radio today I heard exxon was at a congressional hearing, congress wanted to know why if they had record profits of over a hundred billion, that they needed an 18 billion dollar tax break? I want to know why they are just asking now ?
 
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For sure, new gas wells going in by the thousands. But new oil wells also. Many just waiting for the price of crude to get to the point to make them profitable.
 

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