Galt's Gulch

Hi. My name is Scott Owen

Posted by sowen228 8 years, 3 months ago to The Gulch: Introductions
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I'm very happy to have crashed in the Gulch. Thank You for having me and I hope to bring positives to the Group and Gulch. I presently work as a Health, Safety and Environmental Adviser and have been at this type of job for 25+ years mainly in the Oil Business. I am so happy to be with like minded people and am concerned where my country and the world is today and wonder how much longer before everything comes to a full halt. Our "leaders" are out of control and deaf to the people that are paying the bills.
Thanks again.
Scott

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  • Posted by richrobinson 8 years, 3 months ago
    Welcome to the Gulch Scott. The oil business is going thru a tough phase right now. What do you think is going on?
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    • Posted by sowen228 8 years, 3 months ago
      The U.S.oil industry began drilling in unconventional areas and were very successful. The U.S. was actually producing enough oil that OPEC saw the danger of the US becoming an exporting nation in competition with them. Congress had to change a law to allow it which they did and the US has actually exported one tanker of oil so far. OPEC decided that to stop the US they needed to produce oil at a cost that was below what oil could be produced in the US. Working unconventional is expensive but at $100 per barrel was do-able and profitable. Below $40; not. As long as OPEC especially Saudi Arabia can continue to flow at the rate they are; the US industry can be stopped due to unprofitably. Thanks.
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