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(158,452 posts)

10. They did agree to up the production

Thu Jul 3, 2025, 04:58 PM

Jul 3

and that is why the idiotic "drill baby drill" would kill frackers who have a higher "breakeven" than others.

(ETA above graph from here - https://www.hartenergy.com/exclusives/us-shale-basins-boast-54bbl-average-breakeven-price-204563)

The Israel-Iran hostilities briefly shot the price up but as of today (latest showing) it is at $67.18 (as of 4:48 pm EDT) - (dynamic price link) https://www.marketwatch.com/investing/future/cl.1

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Some oil patch execs say "drill baby drill" isn't happening [View all] BumRushDaShow Jul 3 OP

I don't know what the general consensus of Mr Global is electricmonk Jul 3 #3

It matter not a whit if production actually increases. maxsolomon Jul 3 #5

And they were already at max production when Trump... Septua Jul 3 #7

Don't forget OPEC+ mwooldri Jul 3 #9

They did agree to up the production BumRushDaShow Jul 3 #10

It would be hard to make a profit from Alaska crude catrose Jul 3 #11