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Location: Democratic Peoples Republic of Redneckistan
11,078 posts, read 15,101,650 times
Reputation: 3937
Quote:
Originally Posted by GnomadAK
The Saudis are trying to put North Dakota out of business, pure and simple. They took the same action back in the late 80's when Alaska, Oklahoma and Texas were ramping up production. They were rather successful, a lot of wells got capped in TX and OK, those wells are now being reopened, BTW.
ANd if it hurts Russia at the same time, bonus. Once Saudi has depressed the price to the point that it become uneconomic to keep the US production going, they will jack the prices up again.
In the meantime I will be looking to buy a jacked up 4x4 dually with a 454 and a leaking fuel tank
So my question is- did US oil production mysteriously ramp up or do you think the US (and possibly the Saudis) made a conscience decision to show some power? Especially with Putin looking ready to pull a Hitleresque European expansion.
They are sending a message to US investors and producers who is charge. For example you can make diesel products from coal for the equivalent of about $50 or $60 a barrel but investment is not occurring because it's a huge risk. OPEC can dump oil on the market or you can have a situation like you did in 2008 and all those companies go bankrupt overnight. OPEC takes the hit for a few months or a year and then makes it up later.
I had read several years ago about Putin's power and bravado being due to Russia's rise as an oil exporter when oil supply was tighter. I've seen this mentioned several times since then and always wondered if we would ever open the spigot to put him back in line.
Now that oil prices are settling- he surely has to know at what specific point/cost he has lost the Russian cash cow. And with no other industries really matching it that will be a hard fall.
So my question is- did US oil production mysteriously ramp up or do you think the US (and possibly the Saudis) made a conscience decision to show some power? Especially with Putin looking ready to pull a Hitleresque European expansion.
Just wondering...
The US has more oil than Russia or Saudi Arabia combined. We own the market and can bankrupt them anytime we want.
That's why I don't worry about the national debt at all. We have so much oil untapped, but the key is to keep the prices at a decent level. And Canada, let's face it, their oil is our oil.
The US has more oil than Russia or Saudi Arabia combined. We own the market and can bankrupt them anytime we want.
That's why I don't worry about the national debt at all. We have so much oil untapped, but the key is to keep the prices at a decent level. And Canada, let's face it, their oil is our oil.
Just need to get Obozo out of the way so we can drill everywhere.
Don't worry, the taps will be turned down after the first Tuesday in November. Or sooner if O cancels the election due to his creation of an Ebola crisis in America.
The Saudis are trying to put North Dakota out of business, pure and simple. They took the same action back in the late 80's when Alaska, Oklahoma and Texas were ramping up production.
Uh-huh.....and in what year did officials from Saudi ARAMCO testify before the US Congress that they would be increasing oil production?
Surely you can document your claims using neutral sources, right?
Quote:
Originally Posted by GnomadAK
Once Saudi has depressed the price to the point that it become uneconomic to keep the US production going, they will jack the prices up again.
Uh-huh....why don't you explain to everyone why non-OPEC oil sells at higher prices than OPEC oil?
When you're done with that, you can explain why historically -- since the 1990s --- oil from non-OPEC States is priced higher than oil from OPEC.
Don't let data from the EIA get in the way of your fantasy.
Quote:
Originally Posted by lycos679
In regards to Putin, it's hard to say what his price point is, but I recall reading that he needs oil above $70/barrel.
Not anymore. The Ruble is traded internationally now.
Quote:
Originally Posted by greywar
Lockheed martins announcement today is going to crush Russia. Looks like Lockheed still makes some of the best weapons around.
Their natural gas exports will disappear, and even oil will take a serious hit if lockheed produces these at a decent price.
Quote:
Originally Posted by PedroMartinez
Short, but good read. This sounds very promising.
Of course, you have to remember that we'll still need oil production for products such as plastic resins.
How cheap is cheap?
“Typical tritium production capacity from fission reactors specially designed for tritium production is only a few kg per year, and at the prohibitive cost of about $200 million dollars per kg."
So, um, if the world is awash in natural gas, then what happens to the value of the US Dollar?
Don't worry, the taps will be turned down after the first Tuesday in November. Or sooner if O cancels the election due to his creation of an Ebola crisis in America.
More truth in this statement than any I've read today.
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