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The Water Cooler
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Oil Price Per BBL
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<blockquote data-quote="okietool" data-source="post: 2691583" data-attributes="member: 6030"><p>The overall economy maybe. With the job losses, tax and revenue losses, I'm not sure if it will be a net gain for the economy. The OTC may have revenue loss numbers available some where right now. Any time we see price drop in any facet of our lives, it will have consequences beyond putting a few dollars back in our pockets, be it cheaper gasoline, cheaper food, cheaper clothes. The job losses are already in the thousands and it will get worse. Like it or not, Oklahoma's fate and fortune are tied to oil and natural gas.</p><p>You do realize fracing is not a new process? You're looking in the right direction, but drawing the wrong conclusion. Horizontal drilling, not fracing has been the game changer. IMO.</p><p>The only way the federal goobermint can keep foreign companies out would be to nationalize mineral rights, a lot of the majors, maybe all of the majors are true multinationals. BP obviously British roots, but they also absorbed Amoco (Standard), SOHIO (another Standard), Shell was originally Royal Dutch Shell. Sclumberger = French. </p><p>If Iraq's and Iran's full production had been available (above board), oil prices may have actually stayed higher. Domestic oil exploration would not have grown to the level it has.</p></blockquote><p></p>
[QUOTE="okietool, post: 2691583, member: 6030"] The overall economy maybe. With the job losses, tax and revenue losses, I'm not sure if it will be a net gain for the economy. The OTC may have revenue loss numbers available some where right now. Any time we see price drop in any facet of our lives, it will have consequences beyond putting a few dollars back in our pockets, be it cheaper gasoline, cheaper food, cheaper clothes. The job losses are already in the thousands and it will get worse. Like it or not, Oklahoma's fate and fortune are tied to oil and natural gas. You do realize fracing is not a new process? You're looking in the right direction, but drawing the wrong conclusion. Horizontal drilling, not fracing has been the game changer. IMO. The only way the federal goobermint can keep foreign companies out would be to nationalize mineral rights, a lot of the majors, maybe all of the majors are true multinationals. BP obviously British roots, but they also absorbed Amoco (Standard), SOHIO (another Standard), Shell was originally Royal Dutch Shell. Sclumberger = French. If Iraq's and Iran's full production had been available (above board), oil prices may have actually stayed higher. Domestic oil exploration would not have grown to the level it has. [/QUOTE]
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