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Old 12-23-2014, 10:18 PM
 
48,516 posts, read 83,645,724 times
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Its really no different than price war at station I the past. its meant to drive out the competition .Not about new crude its been there all along just getting to it has changed.
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Old 12-24-2014, 08:19 AM
 
Location: Type 0.7 Kardashev
10,577 posts, read 7,235,922 times
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Quote:
Originally Posted by Mack Knife View Post
http://rt.com/business/215235-branson-cheap-oil-renewables/

Renewable sources probably had very little to do with it, fracking, yes.
The Saudi crude-oil production ramp-up is to undercut competitors market - specifically, the United States (which is undergoing a significant oil boom at present) and their various neighbors in the Gulf, most specifically Iran, who they see as a regional strategic rival.

Undercutting Russia was probably not a prime consideration, but a nice fringe-benefit in two ways:
1) Undercutting yet another competitor, and
2) Dinging a country that is currently very unpopular in the West, thereby currying favor with those Western allies

Undercutting renewables? That is probably just a minor incidental knock-on effect.
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Old 12-25-2014, 08:04 AM
 
Location: DC
6,504 posts, read 6,423,574 times
Reputation: 3102
The Sauds aren't doing this, CAFE standards and fraking are doing this.
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Old 12-25-2014, 08:38 AM
MJ7
 
6,221 posts, read 8,597,529 times
Reputation: 6514
Seems like Branson is trying to take this story and turn it into his own, he's a smart man. Let's take this piece of news and make it a marketing ploy for me.

https://www.virgin.com/company/virgin-green-fund
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Old 12-26-2014, 03:14 PM
 
5,090 posts, read 9,826,344 times
Reputation: 3955
Quote:
Originally Posted by Dakster View Post
Phillip T - How do you know that they don't do that?

Wouldn't be the first time someone did insider trading.
Right now I am picking UAE for that role. They are ones claiming it will hit $30.

Kind of figured that was what Iraq was doing back in 1990 before the Real Shooting started. They would move some tanks -- price would go up. Let things settle back down, price would settle down.

With that type of a priori knowledge and control one could really play this game well.

Sort of made me wonder (not really) why it was never investigated who (major trades) was shorting American and United Airlines just before 9-11.
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Old 12-26-2014, 04:29 PM
 
4,718 posts, read 8,940,320 times
Reputation: 2153
Quote:
Originally Posted by Philip T View Post
Right now I am picking UAE for that role. They are ones claiming it will hit $30.

Kind of figured that was what Iraq was doing back in 1990 before the Real Shooting started. They would move some tanks -- price would go up. Let things settle back down, price would settle down.

With that type of a priori knowledge and control one could really play this game well.

Sort of made me wonder (not really) why it was never investigated who (major trades) was shorting American and United Airlines just before 9-11.
If they were Americans I would call them traitors and should be dealt with accordingly.

It would be interesting to see if the terrorists where smart enough to do that though. For them, it is a doubel win at our expense. Even though I believe we have paid them back in full with interest.

The domestic terrorist could that too though. Jim shorts a company and a month or so later his friend Bob sabotages the company. Jim makes a fortune and splits proceeds with Bob...
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Old 12-28-2014, 08:33 AM
 
Location: Londonderry, NH
41,505 posts, read 51,211,590 times
Reputation: 24606
I have to wonder why we support a repressive antiquated Monarchy that can and will manipulate a major business to the detriment of our and others petroleum investments and business? Why do we tolerate this pipsqueak absurdity at all? Why do we nor simply take the place over and let Disney run the holy shrines and just take the damn oil.

Just seeing places in the Persian Gulf build fantastic cities on sand and unearned oil profits while we still have unfed people in our supposedly civilized country makes me very angry.

If I had my way I would pull all of our support from the region and tell the Turks they could do whatever they want so long as we get cheap oil. At least until it runs out. Then we would still have our reserves to help us build a fuel oil free economy.
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