Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Texas

TexasTowelie

(123,361 posts)

5. Oil needs to be around $60 a barrel in order for the oil industry

Reply to PJMcK (Reply #4)

Tue Mar 10, 2020, 08:50 AM

Mar 2020

to be profitable in the Permian Basin and Eagle Ford shale regions of Texas. I suspect that price is also necessary in other shale oil fields such as North Dakota and Pennsylvania. That should put gasoline prices in the $2.50 - $3 per gallon range in most regions of the country. It might be higher elsewhere due to taxes in each state.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

5 replies

= new reply since forum marked as read

Highlight:

How will collapsing oil prices affect Texas? It depends on these two factors, experts say. [View all] TexasTowelie Mar 2020 OP

I think some Texas producers of oil will be forced out of business if the prices remain low long, duforsure Mar 2020 #1

Could someone please explain this to me? PJMcK Mar 2020 #2

It means that instead of using domestic oil TexasTowelie Mar 2020 #3

Thanks, that's interesting PJMcK Mar 2020 #4

Oil needs to be around $60 a barrel in order for the oil industry TexasTowelie Mar 2020 #5