GM nostr!
So in the 60s oil was around 0.08oz gold/bbl, no it's 0.025. We have dramatically increased efficiency in drilling, production and obviously horizontal drilling technology and improved reservoir guidance has increased percentage recoverable. All of these things should decrease price but I can't help but wonder if part of the low oil price is reflecting the lack of demand increase one might expect from all this supposed GDP growth we have everywhere. Just a thought. And yeah, it is low. Think about all the debasement and inflation and ask yourself if a dollar price per barrel being the same as 2006 is actually high!
El Guiri
npub1nk…y3chw
2024-10-30 16:54:20
Author Public Key
npub1nkn4k86w8advjau7hmxj0j5qx2exxgufu8cqaru7khkdgreym3ks9y3chwPublished at
2024-10-30 16:54:20Event JSON
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"content": "GM nostr!\n\nSo in the 60s oil was around 0.08oz gold/bbl, no it's 0.025. We have dramatically increased efficiency in drilling, production and obviously horizontal drilling technology and improved reservoir guidance has increased percentage recoverable. All of these things should decrease price but I can't help but wonder if part of the low oil price is reflecting the lack of demand increase one might expect from all this supposed GDP growth we have everywhere. Just a thought. And yeah, it is low. Think about all the debasement and inflation and ask yourself if a dollar price per barrel being the same as 2006 is actually high!",
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