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<blockquote data-quote="bacha29" data-source="post: 5431322" data-attributes="member: 58386"><p>DOE has more than 8000 approved federal land leases waiting for somebody to take the chance on drilling them. Drillers already have enough geological data to identify whether or not the site is a good one and that can decide if it's worth the risk. I make certain to watch Squawk On The Street in the AM and Mad Money in the evening nearly every day. They've had all the CEO's on. Apache, Pioneer Devon KMI, Cheniere, RBN Tellurian Chevron Exxon and on and on. They had Valero on tonight They all say the same thing. The White House will not tell them what to do or how to run their companies regardless of who is sitting behind the desk. And whether it's private or federal land it still comes down to risk versus reward. More importantly Rusty Braziel pointed out that the sweet spot for drillers is the $80-90 range and could hit $100 but it risks demand destruction as we are beginning to see with LNG . And oil could go to $70 if the economy slows dramatically which would result in reduced activity and less oil coming onto the market. </p><p></p><p>And believe me, Rusty Braziel knows more about the oil business than Fox News could ever possibly know about it but are for some inexplicable reason are able to make dumb people believe the nonsense they're telling them about the business.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5431322, member: 58386"] DOE has more than 8000 approved federal land leases waiting for somebody to take the chance on drilling them. Drillers already have enough geological data to identify whether or not the site is a good one and that can decide if it's worth the risk. I make certain to watch Squawk On The Street in the AM and Mad Money in the evening nearly every day. They've had all the CEO's on. Apache, Pioneer Devon KMI, Cheniere, RBN Tellurian Chevron Exxon and on and on. They had Valero on tonight They all say the same thing. The White House will not tell them what to do or how to run their companies regardless of who is sitting behind the desk. And whether it's private or federal land it still comes down to risk versus reward. More importantly Rusty Braziel pointed out that the sweet spot for drillers is the $80-90 range and could hit $100 but it risks demand destruction as we are beginning to see with LNG . And oil could go to $70 if the economy slows dramatically which would result in reduced activity and less oil coming onto the market. And believe me, Rusty Braziel knows more about the oil business than Fox News could ever possibly know about it but are for some inexplicable reason are able to make dumb people believe the nonsense they're telling them about the business. [/QUOTE]
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