Drill Baby, Drill

[saustin]

US drillers cut oil and gas rigs for 10th week in a row, Baker Hughes says


"(Reuters) -U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th week in a row for the first time since July 2020, energy services firm Baker Hughes said in its closely followed report on Thursday.
The oil and gas rig count, an early indicator of future output, fell by eight to 539 in the week to July 3, the lowest since October 2021.
..."

[Unique_Carpenter]

And yes, the commodities future guys watch the rig counts.
For early 2024 over 700s in use, rest of 2024 600s, now in the mid 500s

Folks do not let a rig sit idle unless there's significant outside issues.

[farmstud60]

Which also means barrel prices of oil are lower, thus gas prices working lower, and reducing inflation pressure.

[Precious_b]

See, we didn't need that canuck dirty sand oil pipeline.

Don't know why you maggies got your knickers in knots about it.

[The_Waco_Kid]

Originally Posted by Precious_b

See, we didn't need that canuck dirty sand oil pipeline.

Don't know why you maggies got your knickers in knots about it.

we did need it. killing it by Biden was stupid. he did that to boost pie in the sky green deal bullshit where this was easy money. we don't even drill it .. Canada does we just refine it in Houston the great Oil Mecca of the modern world. and take Canada's money for it. brilliant!

[Precious_b]

Price of gas ain't reflecting it.

Bully for donny in doing that.

And I will applaud it when gas goes to at least $5 a gallon like i've always said it should. Best thing for the State of Texas. Y'all maggies spit on us here by wanting it cheap.

[The_Waco_Kid]

Originally Posted by Precious_b

Price of gas ain't reflecting it.

Bully for donny in doing that.

And I will applaud it when gas goes to at least $5 a gallon like i've always said it should. Best thing for the State of Texas. Y'all maggies spit on us here by wanting it cheap.

amusing. and why would you want gas 5 bucks a gallon other than to "spit at maggies"?



why should gas be 5 beans a gal? in the USA

[Unique_Carpenter]

High gas prices = higher transportation costs = small/medium business folks can't afford to bring in inventory.

[Precious_b]

Originally Posted by The_Waco_Kid

amusing. and why would you want gas 5 bucks a gallon other than to "spit at maggies"?



why should gas be 5 beans a gal? in the USA

Why don't you use the search key since i've stated it more than once here.

That should amuse you. Than you can get back to us.

Else if you want an answer to it again, clear out all the request put to you on the board first.

That will really amuse us.

[The_Waco_Kid]

you want Oil to be taxed more than it already is. if Texas actually needed the revenue you might have a point. Texas has about 24B in surplus.



https://www.cbsnews.com/texas/news/t...ainy-day-fund/

Originally Posted by Precious_b

Why I love high gas prices in Texas.

They fix up the inner structure, schools and such.

Texas has billions for that without gouging even more out of Oil. Texas is Oil and Oil is Texas. don't tax the hand that feeds you too hard eh?