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Page added on September 24, 2015
Shale Oil and the 2014-15 Price Collapse
Art Berman is out with a new deck: “The North American Unconventional Revolution & The 2014-2015 Oil Price Collapse” (pdf) and it’s a great review of US shale, Saudi/OPEC response, and the great price fall over the past year.
As always, Art is out to tell you some facts you don’t often see in the headlines:
- The story of the price collapse is pretty simple: It’s Chinese demand fall + US oil production growth + response of Saudi oil production growth. That’s pretty much it. Lower demand and production gains leading to surplus and lower prices.
- The heroic tales of rig productivity and drilling efficiency gains are what oil companies have to tell investors to show a brave face. Dig a little deeper to realize – what should be obvious to everyone – that companies are getting killed at these low prices.
- But future higher oil prices are INEVITABLE, and this is important to understand because a lot of really smart people out there don’t seem to get this. John Kemp has an article out today on how U.S. gasoline sales have surged at the fastest rate in a decade. That’s just Econ 101, price is always the leveling mechanism that brings supply and demand back into balance. Colin Eaton has another article out today on how North American oil drillers are responding to the tough environment by slashing investments. In this environment, companies are thinking about staying afloat, not increasing production. In an article from a month ago, Robert Rapier pours cold water on the far too common predictions that oil is going to $20 and will stay there for an extended period of time. “I don’t believe the people predicting $20 oil are seeing the whole picture,” Rapier writes, in what might be the understatement of the year.
- Finally, Art touches on Peak Oil and reminds everyone that things are preceding exactly how the Peak Oil story predicted. When you look at the numbers, it’s easy to see that conventional oil production remains in decline and is increasingly being replaced by unconventional production. And that shift is important for people to grasp because what does the future look like if you’re forced to increasingly rely on more expensive, lower quality sources of oil? As Art reminds us, remember that U.S. tight oil required almost 100 times more wells to produce the same volume of liquids as Saudi Arabia, with a cost 100 times as much.
That sentence might not give you cause for concern… but it should.
http://raylong.co/blog/2015/9/23/shale-oil-and-the-2014-15-price-collapse
47 Comments on "Shale Oil and the 2014-15 Price Collapse"
shortonoil on Thu, 24th Sep 2015 2:18 pm
“But future higher oil prices are INEVITABLE”
This implies that there is going to be an increase in demand; an increase in demand implies a growing economy somewhere in the world. Exactly were is that to be found?
North America, South America, Asia, and Europe are all economic basket cases, and the repo man is waiting to collect the baskets. Fords selling for $10,000,000 a piece would not have much of a market; oil at $100 would not either. There is a maximum price that an economy can pay for any product, and oil is no exception. Just because the petroleum industry needs higher priced oil has absolutely nothing to do with whether, or not they are going to get it. That is controlled by what the economy can afford to pay for it; not what the oil companies need to have to produce it!
The amount of economic activity that a barrel of oil can power is gong down. The amount of activity it can power dictates what the economy can pay for it. The economy could not for long pay $2 for the oil that goes into producing $1 worth of goods and services. When the amount of activity it can power becomes equal to the cost of producing it, the producing process stops.
We are now getting closer, and closer to that point:
http://www.thehillsgroup.org/depletion2_022.htm
Any increase in price seen at this point in the cycle would only act as a short term can kicker. It will do nothing to change the long term INEVITABility of its production!
http://www.thehillsgroup.org/
JuanP on Thu, 24th Sep 2015 3:00 pm
I am posting again the link to Art Berman’s PDF presentation, which is definitely worth a reading, for those who missed it or skipped it. Don’t be scared by the 26 page count, it is actually pretty short with graphs and a few points on every page. It contains many very interesting graphs and observations.
Other than for the point made by Short above, with which I agree, it is an excellent document.
http://www.artberman.com/wp-content/uploads/The-Shale-Revolution-The-Oil-Price-Collapse-of-2014-2015.pdf
shortonoil on Thu, 24th Sep 2015 4:28 pm
“I am posting again the link to Art Berman’s PDF presentation,”
The post above is just “one” point where we disagree with Berman. That is in not indicative of his overall analysis of the shale industry; in with which we otherwise totally agree.
JuanP on Thu, 24th Sep 2015 4:56 pm
Short, That was my interpretation of your comment. We both disagreed with AB on the same point. Thanks for your clarification.
apneaman on Thu, 24th Sep 2015 5:40 pm
Banks will pull the plug on energy companies
http://www.businessinsider.com/banks-are-going-to-pull-the-plug-on-energy-companies-2015-9
marmico on Thu, 24th Sep 2015 8:20 pm
Berman knows as much about oil as he does about natural gas. Squat. Fuck all.
10 reasons why Berman’s 6 year old bobblehead is busted.
http://petroleumtruthreport.blogspot.ca/2009/10/rebuttals-to-our-shale-play-research.html
apneaman on Thu, 24th Sep 2015 8:39 pm
Which is still 10 times more than you – Fuck Nuts. Everything you preach – everything you believe in is imploding.
Truth Has A Liberal Bias on Thu, 24th Sep 2015 9:47 pm
@short
Price can go up for one of two reasons;; increased demand and decreased supply, or a combination of the two. To consider that the only reason the price of something can go up is to ignore the fact that it price can also go up if for example demand remained unchanged and supply went down. That’s pretty basic knowledge.
Truth Has A Liberal Bias on Thu, 24th Sep 2015 9:49 pm
Is marmico a retard?
shallow sand on Thu, 24th Sep 2015 10:35 pm
Marm. Did you read the article? While Berman may have been wrong on predictions, this article is pretty straightforward and should make you happy.
Berman says without an OPEC cut or geopolitical event, oil will be low for a few years. I think that is probably correct. This is the fourth major price crash, and second caused by oversupply, since 1986. An OPEC cut in 1986 got the price up from $10, but couldn’t get the price high again. This very well may be where we are now. None of the previous price crashes saw oil go up until OPEC cut. This one will be the same, and OPEC may not cut for awhile. I was hoping for one at the 12/4/15 meeting, but it may be much further down the road.
He also says US oil companies are hurting, which we know to be true, if they are upstream only. US is one of the higher cost producers. The earnings of the US public independents are weak, several of the stocks are in single digits, many are penny stocks.
He argues the shale oil and gas boom was another bubble, brought on by low interest rates. Do you think that’s incorrect? Huge amount of junk debt piled up on the stuff, was cash flow negative every year, regardless of oil and gas price. It is arguable that this bubble, however, has been good for all except those who are in, or employed by, the oil and gas industry in the US. So good for 98%+ of the US populace.
So, although you have apparently a personal vendetta against Art Berman, maybe you can read this article and point out the errors, rather than just rip him? There should be some stuff in it you at least like, if not agree with.
Ultimately, it is kind of like Nony says, he doesn’t give a bleep who goes broke to give him cheap gasoline, and neither do you. If a bunch of idiots keep drilling at a loss, all the better.
I’ll say we are still here, making no money, even losing a little when WTI goes below $40. But although I complain a lot, we had a good 10+ year run, and we will probably have another someday. And just as you tell me to F@$# off and go bankrupt today, I will tell you the same if some day gasoline is $5 and you whine about it.
I guess I assume you are in favor of strong commodity demand? Or are you throwing in with the “doomers” you constantly rip, that we are doomed and oil will be $0 someday in the next 10-20 years as we return to oxen teams. LOL.
makati1 on Thu, 24th Sep 2015 10:40 pm
Truth, I think your statement is incorrect. Why?
The ability to pay is the controlling factor, not availability or price.
The ability to pay is shrinking, not growing. therefore the ability of prices to rise is limited more and more.
When your decision is a gallon of gas, or food on the table …
apneaman on Fri, 25th Sep 2015 2:30 am
Halliburton to cut layers of U.S. management and North Dakota jobs
http://petroglobalnews.com/2015/09/halliburton-to-cut-layers-of-u-s-management-and-north-dakota-jobs/
tita on Fri, 25th Sep 2015 5:37 am
“But future higher oil prices are INEVITABLE”
In facts, this sentence is nowhere to be seen in the pdf, except on the long-term view.
AB describes the decline of demand over the years (1.1% in 2015 vs 6% in the 70’s). But the trend is not a negative demand, but rather an increase from producing countries.
Also, he doesn’t think prices will recover soon, unless OPEC cut his production or some unpredictable geopolitical event occur.
The most surprising news for me was on page 19 of the pdf. The capital flow to US E&P increased in 2015. As long as it continues, we won’t see any price recovery. But at the same time, it will worsen the financial bubble, because the yield doesn’t exist in this sector at current prices.
rockman on Fri, 25th Sep 2015 6:53 am
“Art is out to tell you some facts you don’t often see in the headlines…the story of the price collapse is pretty simple: It’s Chinese demand fall…”. Very unfortunate to start this article off with such a blunder in FACTS. Chinse demand for oil has not fallen. You cannot find anyone posting such numbers. The rate of increase in demand has slowed. But since 2014 thru today the Chinese demand has increased about 2% to 3%. Check any data base you wish and that’s what you’ll find. Note: I said data base…not editorial OPINION.
A far as predicting future oil prices…have at it. Such numbers are just opinions…not fact. They can neither be correct or incorrect: one might agree or disagree with those predictions but they cannot be proved incorrect…today. As one of my recently passed heroes once said: “Predictions are hard…especially about the future.” LOL
peakyeast on Fri, 25th Sep 2015 7:18 am
Thanks a lot to JuanP for republishing the link to the berman report. It is good data and seems to be well worked out.
JuanP on Fri, 25th Sep 2015 7:33 am
Tita “AB describes the decline of demand over the years (1.1% in 2015 vs 6% in the 70’s).”
Tita, it is very important, as Rock points up above, to make a distinction between demand and demand growth, these terms are not synonymous or interchangeable. Demand is still growing even if demand growth is declining. This is a very common mistake, made by many energy and economy writers, that I find significantly annoying.
shortonoil on Fri, 25th Sep 2015 8:57 am
“AB describes the decline of demand over the years (1.1% in 2015 vs 6% in the 70’s). But the trend is not a negative demand, but rather an increase from producing countries.”
For there to be an increase in demand there must be an increase in supply; otherwise there is nothing to demand. With the US, North Sea, Russia, Venezuela, and most likely Canada in decline it seems very unlikely that there will be any overall increase in production in 2016. Therefore, there will be no increase in demand.
Boat on Fri, 25th Sep 2015 9:06 am
I am glad to see some of the posters are finally figuring out short and the doomers are wrong. Overall world consumption and production is in a growth pattern and has been for decades except for minor blips. And that my friends is a fact.
The only argument that some of them make that is correct is per ca pita oil lack of growth. Let me explain it like this. If an Ethiopian has 6 cars per thousand and oil goes up to $100 per barrel, only a few care. The price has little to do with their economy. They don’t have an economy. Get it? Most newer populations are coming from areas where per capita they don’t use much energy anyway. Goat herding for example doesn’t care much about the effects of fracking.
Boat on Fri, 25th Sep 2015 9:10 am
poor short,
he hasen’t been able to see the rise in production from countries all over the world.
bug on Fri, 25th Sep 2015 9:19 am
Boat, do you believe that growth will go on forever? I think that is the basic point doomers/short others are making.
They believe growth will eventually flicker out in our house of cards economic system.
They may be wrong or you may be wrong,
Davy on Fri, 25th Sep 2015 9:21 am
For someone who is graph-challenged that was a bold statement.
ghung on Fri, 25th Sep 2015 9:23 am
“They believe growth will eventually flicker out in our house of cards economic system.
They may be wrong or you may be wrong,”
Can anyone please describe by what mechanism growth can continue indefinitely on a small/finite planet? Maybe I’m missing something.
Nony on Fri, 25th Sep 2015 9:34 am
The charts are mostly pretty straight forward and mostly correct. I had the same nit as Rock on China…demand did not drop, just the rate of growth and expectations for future rate of growth). Also, I disagree with Long that no one is describing this as a simple supply and demand story. Lots of people have done so.
P.s. The one who really screwed up was James Hamilton with his hundred here to stay article (of summer 2014!) and he still hasn’t come clean and admitted it, full on. The guy has supped too much on the peak oil depletion meme (without bothering to do the heavy lifting of actual reserves/resource analysis) and supped too little on fundamental microeconomics (cost curves, investment theory, etc.)
P.s.s. Shallow: get your costs down and hang in there. I like my cheap gasoline. No more whining about wanting OPEC to cut or hoping for a cartel. Compete. Like an animal. I want my gasoline, cheap, cheap, cheap. If you can deliver that, you deserve to live. If not, sayonara.
apneaman on Fri, 25th Sep 2015 9:37 am
Too bad the global economy is imploding hey boat? Remember the good old days when fossil fuel consumption had a strong link to wealth generation? You know building and maintaining useful infrastructure, young home buyers, retirement savings, etc. Now it’s sports stadiums for billionaires, bail outs, Military hardware orgies, SNAP cards and Dollar stores. Here’s an article with a long list of cities, counties and states that are near debt collapse. Maybe yours in on the list boat.
Waiting for Collapse: USA Debt Bombs Bursting
http://www.counterpunch.org/2015/09/23/waiting-for-collapse-usa-debt-bombs-bursting/
What could be more telling than the crashing of the heavy equipment manufactures? We don’t need no stinking heavy construction equipment, we got sub prime NINJ auto loans and cheap (less expensive) gas and dollar store destinations.
When This Caterpillar Dies, We Don’t Get a Butterfly [UPDATE]
“In order to have an industrial economy you have to build industrial things — roads, ports, buildings, power stations and their grids, airports, houses and shopping centers — and you have to replace them when they wear out. Such building is the activity on which an industrial society rests, the primary source of jobs and all the consequent economic activity that flows from people with jobs. What every one of these building projects needs, in addition to capital and workers, is heavy machinery. That is why the health of Caterpillar, the world’s dominant manufacturer of heavy equipment, and to a lesser extent England”s JCB, are taken as precursors of the world’s financial health.
It’s bad enough the Caterpillar’s world sales were down 11% year-to-year in August, worse that they have declined by a similar amount every month this year. What is truly awful is that Caterpillar has a string of such sales declines — on average 10% per month — going back almost three years. It’s the longest stretch of sales declines in the history of the company. To those who regard Caterpillar as a bellwether, and it has been reliable in the past, our future is going to be called the Second Great Depression.
The good news is, we’re not alone. In the UK, JCB has just announced it is cutting 400 jobs worldwide in the face of staggering declines in the economies of the countries in which it works. CEO Graeme Macdonald said in a press release, “In the first six months of the year, the market in Russia has dropped by 70%, Brazil by 36% and China by 47%. Parts of Europe are also struggling, with France down by 26%.”
Both of these companies are global operators; both are engaged in creating and maintaining the foundations of the industrial age. Their decline and fall is the decline and fall of the age.”
more
http://www.dailyimpact.net/2015/09/23/when-this-caterpillar-dies-we-dont-get-a-butterfly/
Boat on Fri, 25th Sep 2015 9:39 am
bug,
Of course growth will have to change. In fact a major correction in population can and will happen. It is inevitable.
the problem with most of you posters who argue we are already in global contraction are just dead wrong and have been for decades. Just because ya’ll cant read a chart doesn’t make it so.
ghung,
Your another with no memory. Go find a post that I say growth can continue indefinitely. Your habit along with other doomers is to incorrectly misstate my comments and argue against them. LOL Ya’ll are nuts.
ghung on Fri, 25th Sep 2015 9:48 am
Gosh, Boat, where did I say you said growth can continue indefinitely? You be the one making misstatements. I simply asked a general question: “Can anyone please describe by what mechanism growth can continue indefinitely on a small/finite planet?” It’s a simple question to anyone, especially those who think growth isn’t being challenged by limits. Besides, I was responding to bug.
Your constant defensiveness says a lot.
apneaman on Fri, 25th Sep 2015 9:53 am
Here boat. More reality for you to ignore.
Planet’s poor set to swell as World Bank revises poverty line
http://www.cnbc.com/2015/09/23/planets-poor-set-to-swell-as-world-bank-revises-poverty-line.html
yabut, I have a chart…..
bug on Fri, 25th Sep 2015 9:53 am
Ghung, I agree with you on the “finite planet”. I am just asking questions.
Boat on Fri, 25th Sep 2015 10:09 am
apeman,Too bad the global economy is imploding hey boat? Remember the good old days when fossil fuel consumption had a strong link to wealth generation? You know building and maintaining useful infrastructure, young home buyers, retirement savings, etc. Now it’s sports stadiums for billionaires, bail outs, Military hardware orgies, SNAP cards and Dollar stores. Here’s an article with a long list of cities, counties and states that are near debt collapse. Maybe yours in on the list boat.
Apeman,
Let me know when the world economy is in recession. Hasn’t happened yet. Let me know when the world demand for oil is in recession. Let me know when oil production can’t be raised to satisfy those demands.
I will say this, the world by adding debt has created a false economy/bubble that has to pop. But In my view will only be a short term event. A recession globally might even last a few years. But that is a good thing. Just like Greece they will have to deal with a hair cut due to overspending and get their finances in order. The real problems will start when global warming causes more damage than the world can afford to fix. To me this is still decades sway.
shortonoil on Fri, 25th Sep 2015 10:17 am
“poor short,
he hasen’t been able to see the rise in production from countries all over the world.”
At $47/ barrel there is not a producer in the world that who can afford to replace the reserves that they are extracting, and at least a third of them are losing money on every barrel they produce. There is no increase in demand as about every economy in the world has stopped growing. It is amazing how some people can be so completely ignorant of what is occurring in the world, and yet still try to speak with authority. Human hubris at its best! Ignorance at its worst!
Boat on Fri, 25th Sep 2015 10:21 am
apeman,
Planet’s poor set to swell as World Bank revises poverty line
I write as much about immigration as anybody. You can’t remember? Anti immigration is a powerful tool to send the message. If you have babies, there is not a new home for them, so don’t. Pretty simple eh?. If you hire an illegal immigrant, you go to jail and will be declared unpatriotic. Report them. They drive down wages and drive up the price of social services.
makati1 on Fri, 25th Sep 2015 10:25 am
Boat, but they don’t arrest the illegal labor users do they? I wonder why not? Maybe because they want them to take down the middle class? Very efficient method, no? Ever consider that angle?
ghung on Fri, 25th Sep 2015 10:28 am
Boat said: ‘Let me know when the world economy is in recession. Hasn’t happened yet.”
Without $trillions in debt injected into world markets where would we be? Most folks don’t file bankruptcy until their credit is maxed out. Too bad some of you don’t see ‘extend and pretend’ for what it is.
Boat on Fri, 25th Sep 2015 10:46 am
Ghung,
Well what about the other people. I could pay off the house and cars but at such cheap interest rates why would you want to. You can do much better in the market.
Freddie and Fannie had to be bailed out course during the crash. Housing has now recovered to the point that a while back they had added over 60 billion back to the Fed revenue stream. The same story with most of the so called bailout scheme.
So the people with cash that bought homes when they were 40% on the cheap are now selling them at a huge profit just a few years later.
Look for the same to happen in the oil industry. Somebody will cash in big time in a few years off the fracking leases and equipment that is going under now. This is how capitalism works. Just BAU.
GregT on Fri, 25th Sep 2015 10:53 am
Boat said:
” The real problems will start when global warming causes more damage than the world can afford to fix.”
In case you have been asleep Boat, “the world” is fixing the problem already through global warming. The problem is human overpopulation, ingenuity, consumption, and exceptionalism.
Us mere mortal human beings cannot “fix” what we have already broken. The “world” can afford to fix itself for far longer than our species will survive. The “world” has all of the time in the world, we humans do not.
Boat on Fri, 25th Sep 2015 10:57 am
Mak
Boat, but they don’t arrest the illegal labor users do they? I wonder why not? Maybe because they want them to take down the middle class?,
Big business loves the low labor costs. Our government is controlled by big money. I don’t believe in conspiracy theory.
Unfortunately the majority of Americans do not care and are not well read enough to demand change.
The reddest state could easily be Texas. They love illegal immigration. The bluest state could easily be California, they love illegal immigration. If we jailed those who hired illegals The Donald would be among the first. He loves illegals. It is all smoke and mirrors.
ghung on Fri, 25th Sep 2015 11:02 am
Boat “This is how capitalism works. Just BAU.
Yes, the snake that eats its tail. Like most fiat folks, you’ve made the disconnect that allows you to divorce actual value of things from perceived fiat value. Those debts have no real value in terms of real capital. We’ve fooled ourselves (some of us) into not knowing the difference. In reality, humanity is in the greatest recession in it’s history: OVERSHOOT, in every sense.
Repeat after me: TOO MANY CLAIMS ON TOO FEW RESOURCES.
GregT on Fri, 25th Sep 2015 11:16 am
“Unfortunately the majority of Americans do not care and are not well read enough to demand change.”
You really don’t get it at all, do you Boat. We are all in this together. Every last single one of us. You were not born on this planet legally, or illegally. You were born period. Just because you happened to be born into a region where the population consumes five times as much of the world’s resources than any other region, does not give you the right to do so. We have already passed the limits to growth, there is nothing that any of us can do to change this. You can jump up and down and continue to demand anything that you like, it isn’t going to make any difference at all. We are all going down Boat.
Boat on Fri, 25th Sep 2015 11:35 am
ghung,
So what is about what I have written that argues with you about the final conclusion. Nothing. So quit thinking I don’t have a clue about what humanity has in store for it.
In reality, humanity is in the greatest recession in it’s history: OVERSHOOT, in every sense.
In a broad sense you are right but it may be decades before the ramifications to any great extent will show. That is the proof I argue about. Most of the crap posters jot down is just plain wrong. There is oil, there is nat gas, there is population contraction in developed countries that are educated. The World GDP is growing whether it is by debt or not etc.
When the crash does come it will be evident. Saying it is now is just guesswork that every year shows it’s wrong.
GregT on Fri, 25th Sep 2015 11:41 am
“When the crash does come it will be evident.”
It IS evident Boat. The ramifications are already very obvious, globally. You are just choosing to ignore them.
You are in denial Boat.
Boat on Fri, 25th Sep 2015 11:44 am
GregT
“Unfortunately the majority of Americans do not care and are not well read enough to demand change.”
Just because you happened to be born into a region where the population consumes five times as much of the world’s resources than any other region, does not give you the right to do so.
GregT,
I am single, drive a car that gets 38 mpg.
We have a nice home and pool but we live 5 adults and 3 wage earners, out of choice and efficiency. The home is also very efficient.
I would bet big my carbon footprint is much smaller than your families.
ghung on Fri, 25th Sep 2015 11:58 am
Boat says:“When the crash does come it will be evident. Saying it is now is just guesswork that every year shows it’s wrong.”
Jeez, Boat, what would your criteria be for evidence? The largest city in the western hemisphere rationing water and power? Millions of refugees storming the EU to escape war, famine and climate change? More failed states? Political impotence and divisions in much of the world? Growing divides between rich and poor? Dramatically escalating debt and fiscal fraud globally? Western culture apparently comfortable with lying to itself about critical issues, or minimising their relevance (I’ll submit you as an example)? Vastly degrading ecosystems? A collective inability to deal with virtually any of these issues?
Collapse isn’t a moment in time, so quit waiting for the big collapse hammer to come down and knock you in the freaking head. Collapse is a process which is happening all around you. Are you so completely self-centered that you think, just because collapse hasn’t busted through your door yet, it isn’t happening? There’s probably at least a billion folks on this planet that will tell you how fucked-up your world view is.
Easy to be smug, sitting in your comfortable little bubble with blinders on, eh?
Boat on Fri, 25th Sep 2015 12:07 pm
Guhn,
There has never been a point in the world history where there are so many people who don’t have it much better off. We were not better off when the barber was the physician. When disease could take out 1/2 of Europe. When as late as 1950 a country like China could lose 38 million to a 5 year famine. Do some history reading. The days you pine about weren’t that good.
GregT on Fri, 25th Sep 2015 12:08 pm
“I would bet big my carbon footprint is much smaller than your families.”
I know that your carbon footprint is vastly larger than mine Boat. No need to bet, you would lose.
What does that have to do with your stance on “illegal immigration”? The topic that you brought up (yet again), that I was responding to?
ghung on Fri, 25th Sep 2015 12:24 pm
Boat says: “There has never been a point in the world history where there are so many people who don’t have it much better off.”
There’s the rub, Boat, so take another bong hit. There has never been another time in history when so many people lived in poverty, insecurity, hopelessly devoid of opportunity; never a point in history when we humans were so deluded and lacking situational awareness. Indeed, there has never been a point in history when there were so many people,, making demands on a planet that hasn’t gotten any bigger.
Boat: :Do some history reading. The days you pine about weren’t that good.”
I guess you already took that bong hit. Where have I ever indicated that I pine for the past? Just another indication that you CAN’T HAVE AN HONEST DISCUSSION.
JuanP on Fri, 25th Sep 2015 12:31 pm
Boat “When the crash does come it will be evident.”
That phrase makes it very evident to me that you are living in denial. Go back to your room in your shared house. You claim you could pay off your house and yet you need five roommates to pay the bills. You are full of shit, boat and one step away from becoming homeless. I never had to share a home with strangers like you do. Don’t get me wrong, nothing wrong in that, it’s a smart move, but it makes it very hard to believe your claims that you could own your home and car outright. If you can afford your own home, why do you have four roommates? I have never met someone who could afford to live on their own and yet chose to live with four roommates.
I think you are a LIAR!
Kenz300 on Fri, 25th Sep 2015 12:46 pm
All fossil fuel use needs to decline………..
Climate Change is real…… we all will be impacted..
Electric vehicles, bicycles and mass transit are the future.