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[–] 19 points 7 months ago (8 children)

Back when I was in college, it was the first gulf war and oil was around $20 a barrel.

One of my professors was talking about shale oil and how the US has phenomenal shale oil resources but it's not profitable at anything less than $125 a barrel "and if oil is $125 a barrel we're all screwed anyway!"

Well...

https://www.macrotrends.net/1369/crude-oil-price-history-chart

(North Dakota made SO much money!)

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  • [–] 10 points 7 months ago (2 children)

    Granted $125 a barrel back then would be close to $300 today

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  • [–] 7 points 7 months ago (1 child)

    We're not screwed.

    Oil no longer being available on the market is literally what's necessary to save us

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  • [–] 4 points 7 months ago*

    indeed, we've been told for 30 years we need to move off fossil fuels, we could have made our best effort to move away as fast as we could but instead a big ho hum and increased useage.

    This is like experts telling you smoking was bad and then complaining you've lung cancer.

    fuck us , maybe this will work ? here's housing for a grind to $180 a barrel

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  • [–] 6 points 7 months ago* (1 child)

    Breakeven costs on fracking nowadays is like $60 a barrel actually, we're pretty much producing all the fracking oil we can at this point

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