The amount of work here is unbelievable. Any young person with nothing holding them down is a fool not to be here.
I have a friend and one of his sons working in the oil fields of Minot ND....
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The amount of work here is unbelievable. Any young person with nothing holding them down is a fool not to be here.
Truth must hurt.
And all the other references to the arabs ain't ? But you're the boss so I concede. You just like pickin on me, but that's OK lol.
Mike
The cost of production varies among the various the various US producers,however at $55 a barrel,a lot more are not going to make a lot of money.Most producers are hedged out for the next for the next 3-6 months,so low prices need last a while to squeeze them.A big problem is that many are funded in the junk bond arena ,and they are selling off big time last few weeks so the cost for future funding is going way up,plus much of the world is going into recession,hence slowing global demand.It will be interesting to see this play out.
Look for the bottom on oil near or about 36.00 my best guess is it bounces around the 40-55 range in the interim. If we get to 36.00 buy oil futures or look to double leveraged UCO leaps or long calls. Currently UCO is at 8.20 and change, if it drops near $7.00 go long with 5.00 calls or lower for 2017. you are buying some time value but the premium is small deep into the money!