So you’re now an expert on oil and gas recovery? Gee.
Dave, the report I just gave you shows that capital costs are the biggest cost.
There was also an oil guy on PJTV, he’d talk about this. Saudi fields tend to be bigger, closer to the surface, and the terrain (for whatever reason) tend to hold wells better together, so he’d say.
I’ll bite. What approximate % is equipment cost(give or take 20%) and what’s the approximate difference in equipment cost between drilling 100 miles out in the ocean and drilling in a flat desert?
I’m reminded of the meme that was going around during the 2016 election involving a crowd of socialists and a chant leader:
CL: What do we want?!
Crowd: FREE STUFF!
CL: Who can get it for us?!
Crowd: BERNIE SANDERS!
CL: What don’t we understand?!
I don’t know much about drilling, but isn’t one of the issues how much processing the oil pulled from the ground needs and that is a factor in the costs? Maybe you mentioned it but I missed it?
Let’s take one of the things that Sanders wants to make “free”, tuition.
This is what the cost of tuition has been since the late 1980’s (coincidently, when I was in college)
Do you have any thoughts on costs?
Is it important for college to be affordable?
How would you recommend we address costs?
Just as an interesting aside…
Anecdotally, I was making $7.25hr working at a grocery store part time (about 20hrs a week) while I went to a public 4 year college (University of Southern Maine if you’re curious). That’s about $7500 a year, or 2.2 times the cost of a year of tuition.
Today, I’d guess a grocery store employee makes $7-$9hr in Portland ME where I worked. Even at $9hr that’s about $9,900 or about 0.9 times the amount of yearly tuition.
Anyone else notice that the cost of college started its climb upwards as soon as the feds decided to finance it?
Supply and demand?
It’s what some of the old liberal economists used to call “supply push.” One of the big problems with college is that the “celebrity professors” make so much money. It pushes up the tuition costs which helps to bury the students in debt. One of the things that might happen if Bernie gets his way is the government might clamp down on professors’ salaries. As it is with doctors and public health care, once the politicians start spending their money, they think twice about what they are paying the employees.
Some of the students view college loans as “Monopoly money.” They never think about the fact that they will probably have to pay it back. One of my nieces is like that. She is in the hole for over $100 k and acts like it doesn’t exist. She’s soon going to get a PhD. At least she is in a job that pays a lot, but you have to ask, with her salary, are they going to let her skate?
One other question that needs to be asked, should all of these kids go to college? To me it’s become overrated and question of supply and demand. If you have the desire and the brain power to go, okay. What about the marginal students, who are mediocre at best? What’s wrong with learning a trade if that is your true interest? Earning a steady income as a plumber or electrician sure beats laying around in your parent’s basement with a useless college degree than leaves you under employed or unemployed. I’ve a couple of those in my family too.
No, the money is sitting there to be taken and colleges take it. That is more than one reason why so many college teachers are liberals. They are what I call “pigs on the tit.” They know where their bread is buttered.
Lincoln spoke of office seekers who were driving him nuts. He said that there too many piglets in the litter and not enough tits (jobs) to feed them. Now there are enough tits with the government grants and the colleges are sucking on them.
The image didn’t show up for me, but it’s moot. College would be more affordable if it weren’t for government involvement; in part because if it weren’t for government help, demand would be lower, and colleges would have to trim the fat (especially politically-driven social agenda classes and their “teachers”) to attract students. That’s the exact opposite of what’s happening in NY where free college tuition is offered; and NY’s governor Andrew Cuomo is female-canining about Trump’s tax reform, because it hurts states that tax the crap out their people to put private schools out of business.
No good ever came from people becoming dependent upon the government for things that they could do themselves if the government weren’t meddling in it in the first place.