$this->bbcode_second_pass_quote('AirlinePilot', 'P')lease show me WHERE I or any other Peaker here has said there is an "upcoming oil crisis". I'll wait.

[AirlinePilot]

Lets see how Of SPINS this.....

BP profits down 34%

Chevron down 52%

Royal Dutch Shell down 62%

Exxon Mobil down 68%

[AirlinePilot]

$this->bbcode_second_pass_quote('OilFinder2', 'A')s I said, you've spent most of this thread trying to tell us these canceled or delayed projects will cause crises in the near and far future.

$this->bbcode_second_pass_quote('AirlinePilot', 'L')ets see how Of SPINS this.....

$this->bbcode_second_pass_quote('AirlinePilot', '')$this->bbcode_second_pass_quote('OilFinder2', 'A')s I said, you've spent most of this thread trying to tell us these canceled or delayed projects will cause crises in the near and far future.

[AirlinePilot]

What is your definition of crisis?

Unmanageable or historical declines do not mean crisis. They mean higher prices.

I'd consider Iran blocking the straights of Hormuz a crisis.

I'd consider a Hurricane destroying the Houston ship channel a crisis

I'd consider a Saudi uprising a crisis.

Those things I mentioned are not a crisis. They are market movers and yes they may LEAD towards a crisis' You need to go look up the definition of crisis.

Vastly declining profits, if not checked soon, will lead to longer term loss of production. Its basic economics. Is that a crisis? No, but your being naive if you think companies like those mentioned above will somehow prosper and maintain historical production or reserves growth with results like these.

I shouldn't worry though since you think we are in a recovery already

[copious.abundance]

So, here we have AP, who in this thread has incessantly posted articles about the dangers of falling investment in the oil industry, about falling rig counts, and about delayed or abandoned oil and other energy projects. Has he been posting all this stuff to tell us this means everything will be hunky-dory in the future? Of course not. He has been posting all these articles to try to tell us that things are going to get worse. In fact he has said as much, for example here on July 18
$this->bbcode_second_pass_quote('AirlinePilot', 'Y')our blinded by your optimism to see the actual effects the global credit crisis is bringing us. I'm guessing currently this is only the beginning and with any further pullback in prices, or prolonged crude pricing below current levels it gets worse with time. Thats because cash reserves are being used up to continue with lucrative prospects in the hopes that this is just a downturn and soon things will get better. I'd place good money on that NOT being the case. Only the future will tell, we will know soon enough.

[AirlinePilot]

I guess once again you are displaying a lack of reading comprehension.

I used the word "crisis" to denote what is happening with global credit and extend that to banking. I said nothing about a crisis in the Oil Industry. Yes I am stating it is and will have further effects but I have never said here or in any other thread that we are in for a crisis.

Read the sentence OF. Read it as i posted it not as your misinterpreting it.

My whole point originally (once again) is that last years price decrease in crude is having large effects on the industry. It likely means short term losses in production and projects which HAVE LED TO HIGHER PRICES. I never said it meant we could not see things turn around. I never said that it meant we have gone off the cliff. I never said it meant a CRISIS IN PRODUCTION.

Never said that ANYWHERE.

We are seeing an artificial and BS recovery called and further banking/credit problems WILL rear their ugly heads at some time in the near future. Where that goes I have no idea but it points to further problems. It points to marginal projects and companies not making it, and it points to potential further price increases with crude as long as the phony recovery can be maintained.

I expect to see the industry get "better" as prices rise, but you corny folks seem to think production will not be a problem. If so how does the industry recover when the price of crude keeps yo yo-ing every year or so? It won't.

Once again you paint the argument I'm making in the light of immediate Doom. That is completely NOT what I'm talking about, but you wouldnt know since you can't see that from behind those corny shades you wear.

[AirlinePilot]

Not such a great number really is it????


" The U.S. natural gas drilling rig count has gained in 13 of the last 15 weeks after bottoming at 665 on July 17, its lowest level since May 3, 2002, when there were 640 gas rigs operating. But the rig count is still down sharply since peaking above 1,600 in September of last year, standing at 824 rigs, or 53 percent, below the same week in 2008. Many gas producers have scaled back drilling operations with credit still tight and natural gas prices around $4 per million British thermal units (mmBtu), off nearly 70 percent from July 2008 highs above $13.

I just keep posting them as I see'em! Facts trump BS every time.

[shortonsense]

$this->bbcode_second_pass_quote('AirlinePilot', 'N')ot such a great number really is it????


" The U.S. natural gas drilling rig count has gained in 13 of the last 15 weeks after bottoming at 665 on July 17, its lowest level since May 3, 2002, when there were 640 gas rigs operating. But the rig count is still down sharply since peaking above 1,600 in September of last year, standing at 824 rigs, or 53 percent, below the same week in 2008. Many gas producers have scaled back drilling operations with credit still tight and natural gas prices around $4 per million British thermal units (mmBtu), off nearly 70 percent from July 2008 highs above $13.

I just keep posting them as I see'em! Facts trump BS every time.

[shortonsense]

$this->bbcode_second_pass_quote('pstarr', '
')I do believe you are confusing demand destruction with new gas.

[AirlinePilot]

The post was purely to enlighten those who are not in some divine cornucopian paradise that there is a continuing credit crisis which is affecting both the oil and natural gas industries. Refute that instead of injecting off topic nonsense please.

[shortonsense]

$this->bbcode_second_pass_quote('AirlinePilot', 'T')he post was purely to enlighten those who are not in some divine cornucopian paradise that there is a continuing credit crisis which is affecting both the oil and natural gas industries. Refute that instead of injecting off topic nonsense please.

[copious.abundance]

$this->bbcode_second_pass_quote('AirlinePilot', 'N')ot such a great number really is it????


" The U.S. natural gas drilling rig count has gained in 13 of the last 15 weeks after bottoming at 665 on July 17, its lowest level since May 3, 2002, when there were 640 gas rigs operating. But the rig count is still down sharply since peaking above 1,600 in September of last year, standing at 824 rigs, or 53 percent, below the same week in 2008. Many gas producers have scaled back drilling operations with credit still tight and natural gas prices around $4 per million British thermal units (mmBtu), off nearly 70 percent from July 2008 highs above $13.

I just keep posting them as I see'em! Facts trump BS every time.

[TheAntiDoomer]

"doom pumping" LOL, I am going to have remember to use that one later.

[copious.abundance]

$this->bbcode_second_pass_quote('AirlinePilot', 'I') used the word "crisis" to denote what is happening with global credit and extend that to banking. I said nothing about a crisis in the Oil Industry.

[copious.abundance]

$this->bbcode_second_pass_quote('pstarr', 'I') do believe you are confusing demand destruction with new gas.

Please do not confuse shale-oil. . . oh I mean shale-gas with regular natural gas.

It is anything but. Not when you have to detonate a water bomb under the ground to get a trickle.

[AirlinePilot]

$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('AirlinePilot', 'I') used the word "crisis" to denote what is happening with global credit and extend that to banking. I said nothing about a crisis in the Oil Industry.

[AirlinePilot]

Recession has impact on energy industry


One potentially significant side effect of the recession has been a slowdown in oil and natural gas drilling activity. In recent figures from the American Petroleum Institute, overall drilling activity was down 46 percent between the second quarter of 2009 to the same period last year. Natural gas production was said to suffer the worst decline in at least a decade, with activity falling 43 percent in the past year.

http://www.nasdaq.com/newscontent/20090 ... ustry.aspx