Seven Over Seventy ?
Last Post Of the Year !
You may click the image above to see who this years winners are. Its quite interesting; one of them is a current or recently retired cage fighter. I see no stripper well operators in the lot. I am guessing the combined debt of those 40 under 40 actually IN the oil business is in the mid 11 figures. One of them (not kidding) emailed me about an export rant I had made a few weeks ago and suggested I had to be one of the most "disliked" people in the country and I was stupid.
So...I've got THAT going for me.
Remember, when the HZ tight oil industry, and the API, IPAA, etc. etc. says that reducing oil exports from the US would not be good for Americans because it might cause oil prices to go UP, they're lying thru their nose. The shale industry WANTS prices to be high as possible; $150 would suit them fine. They rely on exports for their market. Period. They'd rather drill up all their location inventory at $65, and export it below costs, than slow down, sell that oil at $100 and be profitable. Unlike OPEC, these guys are NOT long term thinkers. To be fair, debt is a bitch; once you give over to it you have lost control.
As far as I know there is no Seven Over 70 program for my generation still working in the oil production business. If you're 70 years old, and been in the oil business your entire life, you've probably already eaten the dirt sandwich from stress... so there's not a big pool to chose from. Based on the email I received, I wouldn't make it anyway. Harold Hamm is 76; he'd make the 7 over 70 because people respect money and he has boatloads of it...and debt.
But he didn't get up at 05:00 on Christmas morning to relief gauge for his employees, so they could spend time with the kids under the tree. Betcha.
Someday America's stripper well production will be BACK in great favor and those hard working men and women all over America that get up at 0:500 every morning, that pay their bills and stay out of debt, whose hands are calloused and whose hard hats are actually dirty, will be America's hope. We're were here before the mighty shale oil revolution began and we'll still be here when its fizzled into little more than temporary uprising.
For me maybe they'll be an Eight Over 80.
Happy New Year !
Be Ready !!