Anne Bradbury head of the American Exploration and Production Council that represents independent oil producers said the group in “Confident” that the DOE will be able to meet the presidents “Directive” to purchase 3 billion in US produced crude! If this is approved we are back in business!!! Please share your thoughts…Yahoo posted this 30 min ago!
3 billion what? No where to put 3 billion barrels. I believe you are dreaming either way. IMHO
$ 3 billion dollars… The source is yahoo. Google it and you can see the whole article. Just relaying what was in the article. That’s a positive if this happens.
The DOE is still hoping on a deal. The vote is tomorrow. We ll see what happens. Good to think positive.
It would have very little noticeable effect. The problem is supply & demand. Horizontal wells aren’t economical below $45-$50 per barrel. OPEC knows this and has decided to flood the market to stop our domestic production. The volatility began with the embargo in the 70’s and continues today.
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