Crude oil is $86 today.... beginning of the end?

It's definitely going back up. Regular unleaded is $2.25 a gallon around here. Was $1.93 a few days ago. Knew it was too good to last.

 

As of the first of the year several states raised the fuel tax. Seems strange the timing of it right after the prices went down so much. Almost like it was planned that way.

 

Our elected officials cannot get enough money to spend, so they keep on keeping on raising our taxes.

Plus when spending money that's the way they get money into their pocketbooks, so the more money they spend, the thicker their pocketbooks become. And they love thick pocketbooks.

 

47.93 a bbl. Thats definitely gotta hurt. On purpose. Everything else is going up, taxes, water bill, electricity, etc.

 

All I know is they are stacking rigs up left and right in ETX. Work gonna slow up for a few months. Hope I'm wrong boys.

 

Strange that they would stack in ETX, aren't those all conventional wells? I thought the idea behind the Saudi crash was to tank the frac fields. Rigs are still going like crazy in the Bakken.

 

You can drill now and frax it later. I read concho was going cut its rig count by a third in the perimean basin. Still drilling,just not as much.

 

You can drill now and frac it later. I read concho was going cut its rig count by a third in the perimean basin. Still drilling,just not as much.

 

I wouldn't say going like crazy. Down 25 rigs already. Could be a long 2015 in all oil patches. $50 oil plus the take away costs here make for a lot of uneconomical wells on the fringe.

 

I haven't seen any numbers that show the rig count down by 25, I'm sure it's going to slow down but there are so many permits and contracts out already that I think it's going to be later this year before any noticeable slowdown. Who knows really.