Thanks Boone...

[oneforone]

Just as the rest of us are taking a sigh of relief and enjoying a little extra money in our pockets. T. Butt Picker has to shoot his mouth off to strike fear into the mush heads.

Everytime he shoots his mouth off gas prices go up. People hear him speak, the next thing you know every body is filliing up their cars everyday. I bet gas will back up to over $2 a gallon by this weekend.


http://www.newsok.com/pickens-predic...rticle/3321278

[PennyQuilts]

If you want alternative energy sources, you'll need fuel costs to be high. People simply won't invest their money in something that they don't see a need for. When gas prices were high this summer, people were losing their collective minds and every time you turned on the TV you'd see a call for alternative fuel and a call to punish the gas companies or separate them from their profits. Once the prices dropped, all that halted. They even dropped the commercials. No one is shouting out to save the oil companies.

A buddy of mine works for an energy company. Now that the prices have dropped again, drilling contracts are getting cancelled and he may end up being laid off.

[Kerry]

Someone once said the cure for high gas prices is high gas prices. It means the problem is self correcting.

[PennyQuilts]

Yup. Free market.

[Blangdon]

However, all of us better hope that oil and natural gas prices go back up or we're going to see some SERIOUS problems in our lovely state.

[PennyQuilts]

Oklahoma better fasten its seat belt. It has traditionally had a different economic cycle. Bad times are coming - one way or the other. My suggestion is to be putting back some money for a rainy day and making plans for when the jobs dry up. Start restructuring your budget while you have some wiggle room. Remember the old addage -"God please send another oil boom and this time I swear I won't piss it off?" Consider the current times a Boom. And hunker down. Get a good working car, stick to reasonable mortgage payments and put some money back.

[wsucougz]

Yup. Free market.

Except for when it isn't.

[ultimatesooner]

he tried to spew this crap when oil was 100+ per barrell saying it was on its way to 200+ because he held a long position. It didn't work and he lost a couple of billion

[hipsterdoofus]

You know, you really add to your argument when you use nicknames like "T. Butt Picker"...

[OKCTalker]

Has there ever been a documented account of Boone Pickens saying that energy prices would go LOWER?

[Chefdavies]

east coast my father was just let go yesterday, said he might get his job back after the first of the year. So its exciting that gas prices are low, but for the first time I see what impact it has. Obama instead of creating new jobs, lets figure out a way to keep the jobs we have...I know i'm safe in the kitchen, ppl have to eat haha

[Chicken In The Rough]

There are several consequances of lower oil prices which will adversely affect Oklahoma. First, we're already seeing operating companies drastically cutting back. Oil prospects are being shut down and planned drilling is being shelved. This will result in the loss of thousands of jobs in OK - and, not just blue collar oil patch workers. Landmen, lawyers, and middle executives will also get squeezed.

Second, royalty owners will soon see there checks cut in half. They may have to start hocking their gold nugget jewelry to keep their McMansion mortgages paid.

Third, the asset bases of Oklahoma's major energy companies have lost 40% of their value. Not many companies can endure such a blow to their balance sheets without a significant alteration in their buisiness plans.

Fourth, Oklahoma's major universities have significant energy assets. This loss of value will cut deeply into OU's and OSU's endowments.

Fifth, OKC's energy companies have recently proved themselves to be good neighbors and good corporate citizens. They have invested millions into making OKC a better place. OKC has not had this luxury for many generations, if ever. These investments may dry up quickly.

Sixth, as energy prices continue in their decline, mass-transit, and especially subways and streetcars, will increasingly become a fantasy. No government agency will invest in trains when cars are so much less expensive for their citizens to operate.

We've all heard of trickle-down, and more recently, trickle-up economics. A 50% drop in the price of oil would be better characterized as splash-down economics. Its affects will be widespread and far-reaching.

We don't need to see oil rise back to the unprecedented levels of a few months ago. However, a good, solid $80.00 per barrel will put everything back on solid footing. And, the resulting rise in the price of gasoline will be tolerable.

[sweetdaisy]

You're spot-on, Chicken. I'd be happy to pay a little more in gas prices to ensure the Oklahoma economy maintains its strength.

[hipsterdoofus]

I'm sure this is a stupid question...but something I thought of a few weeks ago...Oklahoma produces a lot of oil and Natural Gas...why couldn't, in theory, Oklahoma just produce for its own citizens and shelter ourselves from whatever is going on outside? Do we not produce enough? Lack of refining capacity? Again, I'm sure its a dumb question, just was wondering about it.

[OKCMallen]

Well, we certainly produce more than enough of our natural gas needs. But what's the point of doing that? We need to sell it to get any value out of it.

[hipsterdoofus]

Well, we certainly produce more than enough of our natural gas needs. But what's the point of doing that?

To shelter yourself from whatever goes on in the rest of the world...so your prices can remain stable...

[OKCMallen]

I don't know if we have the refinery capacity to produce our own gasoline, but I would guess that we probably do.

The thing is: we need money coming in from outside. That's the value of this deal. We're not building boathouses and skyscrapers based on OKlahoma's purchasing and usage of our assets.

[PennyQuilts]

Without outside revenue, the Oklahoma producers don't have enough volume to keep the doors open, I suspect.

[hipsterdoofus]

So what about selling some inside and some outside? enough to take the edge off outside factors?

[Kerry]

Lets just say the last 18 months didn't happen with oil prices. Wouldn't the current price be near historic highs?

[OKCMallen]

My guess is that we already pay less for natural gas here than they do in, say, NYC. You'd need a local refinery dedicated to taking LESS money from Oklahomans that outsides are willing to pay. Just not going ot happen without some form of government intervention.

[PennyQuilts]

Why would a private company do that? I think they'd have to be careful to not start running afoul of the interstate commerce clause.

And yes, I think Oklahoma already gets a break but I don't know exactly why other than, perhaps, lower costs to supply/transport. Someone else might know.

[SOONER8693]

T. Butt Picker is one of the nicer things I'd call that clown.

[Lord Helmet]

If you want alternative energy sources, you'll need fuel costs to be high.

Exactly. I'm willing to pay $4 a gallon or more if it means we are forced to be environmentally responsible. Sucks for my pocketbook, but its the only way we'll ever change.

[OKCMallen]

And yes, I think Oklahoma already gets a break but I don't know exactly why other than, perhaps, lower costs to supply/transport. Someone else might know.

That's mainly it.