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Post Info TOPIC: How long do you think the current boom will last?


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RE: How long do you think the current boom will last?
 


So as for the Williston Herald reports, http://www.willistonherald.com/articles/2008/04/29/local_news/news1.txt
Do you think if they built a refinery in the area, if that would help with the high gas prices? Would it be beneficial?
just a thought on the subject.
Wish my back was in good shape so I could get some of that green!! But Ive worked for 10 years in health care and pretty much ruined my back, slipped bulging disks, disk degenerative disease, not to mention arthritis, and I'm only 37.. workers comp more or less told me if i hurt my back doing any kind of lifting, or any job where there is lifting involved, I wouldn't be covered by them or my insurance.
Well, thats my story, Im just glad I got a half way decent trailer at a great price before the boom started.

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Steve Powell wrote:

Steve, great to have on board.....FINALLY!!! biggrin

I think what we're seeing, as far as the oil demand goes, is Asia and India's surge of oil use. They've created the bigger need for oil production which has aided in the increased prices. The other problem is that the feds have started this "the sky is falling" crap and, in turn, reduced interest rates the way they have. I'm tellin' ya, ANWR and the coastlines WILL be drilled in the next 5-10 years. Considering people are still willing to pay the price of gas, it's the next best option.



First of all Steve, your house must be paid off if you think there is not an economic crisis going on in this country. For example, I am a student who can only depend on student loans to pay my overpriced tuition. This week there has been some huge setbacks on students who depend on student loans. Many financial institutions are starting to drop their student loan programs, and in fact I learned that my schools chosen lended just went out of business last week. That's just one example, I'm not much of a financial expert so I don't think I can really argue this one.

BUT...

Second of all, drilling ANWR (and the coast lines as you say) will probably happen due to the US's heavy reliance on oil, but as Glen Beck has said, this is only a temporary fix for a larger problem. It's like covering a severed artery with a BandAID and hoping everything will be OK instead of repairing the artery itself. The dependence on oil in this country needs to be addressed, otherwise when the reserves in ANWR dry up, our children are back to where we currently are today. The current energy crisis is a great reason to investigate alternative options to oil, and I'm sure the inflating gas prices are fueling the scientific  and community to do just that.

 



-- Edited by Jibslider at 13:23, 2008-04-28

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Steve, great to have on board.....FINALLY!!!  biggrin

I think what we're seeing, as far as the oil demand goes, is Asia and India's surge of oil use.  They've created the bigger need for oil production which has aided in the increased prices.  The other problem is that the feds have started this "the sky is falling" crap and, in turn, reduced interest rates the way they have.  I'm tellin' ya, ANWR and the coastlines WILL be drilled in the next 5-10 years.  Considering people are still willing to pay the price of gas, it's the next best option.

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Let's just get one thing straight, the president nor any other branch of the US government has anything to do with the "demand" for oil, nor do they directly control the price of oil, so to say that if we get a Democrat in the White House will kill our oil boom is wholly inaccurate, because if you remember from our last bust Ronald Reagan was in office, or maybe you would like to blame Ronald.

As it has been explained to me, the difference between this boom and the 80's boom is demand vs. politics.  Now we have incredibly high demand for oil and in the 80's you have political strife which helped increase the price of oil.  Maybe this time demand will prove to be more stable than politics but who knows.  We do need people to take chances in Williston and if there is failure, that is the price of progress.

Steve Kemp



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The campaign promise to "get out of Iraq" is as likely to become true as any other campaign promise has ever been.  About as likely as bacon-on-the-hoof growing wings and catching the wind.  Sure, it sounds great, on the surface.  But there is no way any candidate can make such a hollow guarantee.  It CAN give hope to Al-quaida, having an exit date to simply sit out and wait for our military to leave Iraq and Afghanistan.  Of course, the next question would be, "When do we leave?"  The answer is, "When we don't need to be there anymore."  
  How does that relate to the question of this topic?  The boom will probably last as long as the price of oil stays over $50 per barrel.  I'm betting that will last awhile.  By the way, if Hillary thinks she was under sniper fire in Bosnia, she probably thinks Iraq is World War III. 

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Out of Iraq?  What happened the last time we turned and looked away from terrorists?  Ask Osama that question.  This "global war" didn't create more terrorism it simply was a catalyst for the inevitable.  Our presence in the mid-east is a proactive approach that has kept you and I safer as a result.  Was it handled correctly?  Hindsight?  Prolly not.  Afghanistan first?  Prolly.  But again, this was all inevitable and we did what we thought (both Dems and Reps) at the time was the best approach.  So far it has worked. 

But as for the "conflict" (I don't feel Iraq is really a war) you can't argue that it has certainly helped our local economy.  And as a result, when/if it all goes away we'll all be living large. biggrin  There, that makes my rant fit into this thread now.

I really, really hope Huckabee ends up McCains running mate.  McCain is very...and I mean very moderate.  Huckabee is more fiscally conservative than pretty much any of those running and I really feel has been something we've been missing for some time. 

Finally, you can't guarantee me that Obama or Clinton are going to save money for the country simply by pulling out of Iraq considering they are more likely to transfer the money to other things like education or welfare. 



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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4



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"and a good chunk of the $453 billion military/defense budget dollars can go into more sustainable means of energy and ... education."

Can?  What makes you so sure that if a Dem is president this will happen? 


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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4



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SKM wrote:

 

 ...I think if a Dem. gets voted in, the oil will be out and then so will we. Slow and steady wins the race. Never jump the gun. Jibs is correct about the oil...it won't last.

 



If Obama or Clinton gets voted in there is a decent chance we will be mostly out of Iraq (and not in Iran), and a good chunk of the $453 billion military/defense budget dollars can go into more sustainable means of energy and ... education. The conservative in the executive office right now can throw hundreds of billions of dollars towards fighting wars, but he won't allow congress to give 9 billion for education.

 



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SKM


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It's soo funny that you said that cause I just hear on the Nightly News that is 6.3 billion!!   So you go!!!!!  I'm thinking we'll go for one too!!!   I just hope this next election doesn't screw us...but then again...there's always the government to bail us out!  LMAO!!! smilesmilesmilesmilesmile

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Shayla


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Slow and steady wins the race if it's a marathon.  biggrin  Put me in a 10 yard dash and I'll show you a how fast a wild man can run.  biggrin    Um...ok, wild man may be pushing it....I just got a little excited there...my bad. hmm

I was actually being a bit sarcastic but if 4.3 billion barrels lasts 10 years I should be about ready to pick up one of those big fancy houses in 15 at a nice price.  I was pretty fortunate when I purchased my current home.  So when/if the bottom falls out on the market, I should still be able to recoup at least what we paid and still be able to move up affordably.


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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4

SKM


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 Well, Steve...either that or your going to buy a home for 250,000 and 2 or 3 years from now it'll sell for 75,000.  I say Don't Buy until this next election is over.  Hang in there.  I think if a Dem. gets voted in,  the oil will be out and then so will we.  Slow and steady wins the race.  Never jump the gun.   Jibs is correct about the oil...it won't last.  



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Shayla


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So your saying I'm gonna get to move into a beautiful new home for cheap sooner than I expected?!   SWEET!!!  biggrin

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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4



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Steve Powell wrote:

So they're estimating 4.3 billion barrels so far. Sounds like alot. Anyone have a guestimate now as to how long extraction of 4.3 billion barrels will take?



...About as long as it takes to build an apartment complex and a few new houses, then it will dry up (once again).

 



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It will probably take a few years.  That's about as ambiguous as I can be.

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So they're estimating 4.3 billion barrels so far.  Sounds like alot.  Anyone have a guestimate now as to how long extraction of 4.3 billion barrels will take?

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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4



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Well put.  I love the Yoda reference!

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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4



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evileyeI will stick my neck out here and say 10 years. I presently make my living in the oilfield, but I'm taking the cautious approach, financially. In other words, I am saving more than I am spending, much to the chagrin of local RV and sporting goods merchants. There is a story in the Bible about Egypt having seven years of bountiful harvests followed by seven years of famine, so I try to take that lesson to heart. And to quote a bit of modern pop culture: "Difficult to see, the future is." (Yoda)

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I have heard a lot of numbers, of course everyone whats this to last 10 or more years and maybe it will (I am one of those people!!!) I just hope people are preparing themselves financially, so they do not go down the same road many did last Boom.



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Sherri Ekblad
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What have you guys been hearing?  5 years? 15 years? 

What can Williston do to prevent the major bust after the boom leaves once again?

Alright people!  Discuss. smile.gif

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Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4

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