Quote:
Originally Posted by WhiplashDug
There is also - 1.5 trillion barrels of Oil in the shale in Colorado. Shale oil production, is not cost effective if Oil prices are less than $100 a bbl. So now that oil is $120 - we shall see what new production begins in that region.
However, that does not mean vastly cheaper oil prices. Because the cost to extract the shale oil is so much higher. But it does mean, that if the OPEC sources and Chavez want to keep pushing up the prices - we really can tell them to piss off - and keep the money here in the US!
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Does anyone here know enough about the stock market and oil companies to know which companies are going to benefit in 5+ years time with their shale oil land ownership?
I don't see gas prices stabilizing, I don't think anyone does.. Could be a great time to get into whatever the next oil thing that becomes profitable is.
Oil sands in Alberta weren't profitable, it was too expensive, yadda yadda.. Now it's like the wild west out there, industry is booming.