# In case you didn't know **URL:** \ **Category:** Professional Mariner Forum\ **Created:** [February 1, 2018, 11:50am UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218 "2018-02-01T11:50:59Z")\ **Posts on this page:** 8\ **Page:** 1
**Author:** ![BoatRoach](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/boatroach/32/3342_2.png) [@BoatRoach](https://forum.gcaptain.com/u/BoatRoach)\ **Post date:** [February 1, 2018, 11:50am UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/1 "2018-02-01T11:50:59Z")
[https://www.bloomberg.com/news/articles/2018-01-31/u-s-oil-output-reaches-highest-level-since-1970](https://www.bloomberg.com/news/articles/2018-01-31/u-s-oil-output-reaches-highest-level-since-1970) The light at the end of the tunnel is in sight for those of us in the Deep blue / Shallow brown. My understanding is this is only sustainable as long as the Saudis maintain their cutbacks. ---
**Author:** ![tugsailor](https://avatars.discourse-cdn.com/v4/letter/t/a9adbd/32.png) [@tugsailor](https://forum.gcaptain.com/u/tugsailor)\ **Post date:** [February 1, 2018, 12:32pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/2 "2018-02-01T12:32:26Z")
Just watching a talking head on TV with Maria Bartaromo, I think it’s Denis Gartman. He explained that frackers are now able to produce most US shale oil below $25, and that he cannot see oil prices stabilizing above $64. ---
**Author:** ![DeckApe](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/deckape/32/1271_2.png) [@DeckApe](https://forum.gcaptain.com/u/DeckApe)\ **Post date:** [February 1, 2018, 12:37pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/3 "2018-02-01T12:37:19Z")
The United States is killing the goose that’s laying the golden eggs. Unless American producers reign themselves in someone (Russia, Saudi, Iran) is gonna say ‘fuck it’ and open their taps. Prices will crash. The big investors know this. They know that investing billions in offshore wells is unacceptable risk versus investing in quick and cheap onshore shale. Contrary to what some may think, rapidly increasing US oil output (from shale) is a sign that offshore will not recover soon. ---
**Author:** ![BoatRoach](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/boatroach/32/3342_2.png) [@BoatRoach](https://forum.gcaptain.com/u/BoatRoach)\ **Post date:** [February 1, 2018, 12:49pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/4 "2018-02-01T12:49:14Z")
I hear you. $65 - $70 range is optimal for sustainability but if everyone is unloading their trucks all at once then I can see how the other producers won’t appreciate that. ---
**Author:** ![Tellarian](https://avatars.discourse-cdn.com/v4/letter/t/aeb1de/32.png) [@Tellarian](https://forum.gcaptain.com/u/Tellarian)\ **Post date:** [February 1, 2018, 1:00pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/5 "2018-02-01T13:00:00Z")
Meanwhile… > **[Shell Offshore announces major oil strike in US Gulf of Mexico -](https://splash247.com/shell-offshore-announces-major-oil-strike-us-gulf-mexico/)** > > New Orleans-based Shell Offshore Inc, a subsidiary of Royal Dutch Shell, on Wednesday announced what it called one of its largest discoveries in the US Gulf of Mexico. The find is from the Whale well in Alaminos Canyon Block 772 in the Perdido area... ---
**Author:** ![betweenthebuoys](https://avatars.discourse-cdn.com/v4/letter/b/65b543/32.png) [@betweenthebuoys](https://forum.gcaptain.com/u/betweenthebuoys)\ **Post date:** [February 1, 2018, 3:15pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/6 "2018-02-01T15:15:24Z")
I wonder if they will tie back to Perdido. There are already a few other fields tied back to Perdido. Maybe they might have to put another production installation. Plus, I suspect there will be other finds in that area. ---
**Author:** ![cmakin](https://avatars.discourse-cdn.com/v4/letter/c/48db29/32.png) [@cmakin](https://forum.gcaptain.com/u/cmakin)\ **Post date:** [February 1, 2018, 3:37pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/7 "2018-02-01T15:37:53Z")
Exactly. Absolutely no point in financing large and expensive deepwater exploration/production when there is so much low hanging fruit onshore. . . . . ---
**Author:** ![tugsailor](https://avatars.discourse-cdn.com/v4/letter/t/a9adbd/32.png) [@tugsailor](https://forum.gcaptain.com/u/tugsailor)\ **Post date:** [February 1, 2018, 4:37pm UTC](https://forum.gcaptain.com/t/in-case-you-didnt-know/47218/8 "2018-02-01T16:37:35Z")
The US needs to beat OPEC at its own game and stabilize the US oil market. When the price of WTI drops below $50, a $10 tax on imported oil should be imposed until the price of WTI stabizes above $60 for at least 30 days. Taxes have to come from somewhere. OPEC cannot be allowed to continue manipulating boom and bust cycles in the US through predatory pricing. The US needs to do whatever it takes to become a net energy exporter as soon as possible. That should be easy to accomplish by ramping up gas production and exports.