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Old 08-12-2015, 01:41 PM
mm4 mm4 started this thread
 
5,711 posts, read 3,130,908 times
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Quote:
Originally Posted by Jimbo302 View Post
I thought this was well known info?
You've got a poster nearby on PaOC trying to claim it's because of the Iran deal. This is outreach.
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Old 08-12-2015, 01:43 PM
 
26,306 posts, read 12,800,278 times
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Quote:
Originally Posted by mm4 View Post
Not without capital.
The capital has been invested already for the most part. They may slow down the growth, but they can't stop it, and technological changes have been reducing costs for shale recently.

The Saudi's are in deep trouble. Expect interesting times for them. They need higher

Some relevant articles:
Oil at $30 Is No Problem for Some Cost-Cutting Bakken Drillers - Bloomberg Business

This ones the most interesting:
Saudi Arabia may go broke before the US oil industry buckles - Telegraph

Saudi needs oil at $106 to break even government wise. They are in deep trouble. As are many other countries.

If our next president pursues solar or fusion seriously Those countries are doomed.
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Old 08-12-2015, 01:45 PM
 
Location: Long Island
32,771 posts, read 13,851,504 times
Reputation: 6949
Quote:
Originally Posted by mohawkx View Post
Why those miserable bast****! How dare they sell gas cheaper and provide lower prices at the pump for all Americans?!
You'd think they were engaged in a capitalistic business or something and trying to preserve market share.

And YES! It's all because of Obamacare squeezing the nuts of North Dakota Frackers. It should be obvious to all. And Clinton!........Don't forget Clinton!..........Issa should subpeona all of Clinton's Union 76 credit cards..... there's gotta be a link.

You guy's never fail to provide my knuckle-headed chuckle with my morning coffee.
Saudi Arabia squeezes US producers and It's Obama.

His name needs to be worked in to every thread somehow, but this is definitely an illness,
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Old 08-12-2015, 01:47 PM
 
78,289 posts, read 33,358,137 times
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It's working like it is suppose to. So the fields get shut down because prices are too low. It's not to put them out of business and create a monopoly for themselves.

If they turn off the pumps and prices go back up, the shut down wells will kick right back up. This has been this way for decades.
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Old 08-12-2015, 01:48 PM
mm4 mm4 started this thread
 
5,711 posts, read 3,130,908 times
Reputation: 1941
Quote:
Originally Posted by greywar View Post
The capital has been invested already for the most part. They may slow down the growth, but they can't stop it, and technological changes have been reducing costs for shale recently.

The Saudi's are in deep trouble. Expect interesting times for them. They need higher

Some relevant articles:
Oil at $30 Is No Problem for Some Cost-Cutting Bakken Drillers - Bloomberg Business

This ones the most interesting:
Saudi Arabia may go broke before the US oil industry buckles - Telegraph

Saudi needs oil at $106 to break even government wise. They are in deep trouble. As are many other countries.

If our next president pursues solar or fusion seriously Those countries are doomed.
Saudi Arabia has a lot of time for this. Its sacrifice is a comparative drop in the bucket relative to its priorities.

Quote:
Originally Posted by froglipz View Post
Now would be the time to develop alternate energy! Oil is finite and WILL only become more and more expensive as it gets used up and becomes rarer. 2 dollar gasoline today will end up being $10 or more until alternative energy becomes more affordable.
It's at least as plentiful here as it is on Titan or Pluto. 'Spent' Texas wells are regularly uncapped because it's abiotic condensate from deep in the earth's crust and beyond; it's replenished near the surface.

All anybody needs to do for 'alternative' is methane--abundant throughout the universe. City buses and company fleets run on it. It's so plentiful on Earth it's burned off at petroleum wells as an afterthought.

Last edited by mm4; 08-12-2015 at 01:59 PM..
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Old 08-12-2015, 01:51 PM
 
Location: SF Bay Area
12,300 posts, read 7,940,571 times
Reputation: 6464
Quote:
Originally Posted by golimar View Post
Saudis want to crush Energy exploration in US since they want to keep US dependent on Saudi Oil.

They have also donated large sums to the Clintons, who will do their dirty work for them.
They can go right ahead and pump as much as they want. It is not like the oil in America is going to go bad.
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Old 08-12-2015, 02:04 PM
 
Location: Arizona
13,062 posts, read 7,788,917 times
Reputation: 6942
Look guys, you might just as well get off trying to link Saudi Arabia to Democrats, Clinton or Obama. Obama has gone out of his way to Pi** off Saudi Arabia with the Iran deal. Clinton is a non starter with Saudi Arabia.
The real players are all Republicans.
The Bush family has had a very long and profitable relationship with the Saudis for over 35 years. It was Bush2 who ordered all commercial aircraft in the nation grounded except the plane that safely evacuated the Bin Laden family from their digs in NYC, immediately after 911.
Rupert Murdoch's Fox News has as it's second largest shareholder and owner, Saudi Prince Alwaleed bin Talal. Yes......That Fox News.
So b*t*h about the price of gas dropping through standard international business practices but leave the Clinton's and the Obama's out of it. They have no skin in this particular game.
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Old 08-12-2015, 02:40 PM
 
Location: Stasis
15,837 posts, read 10,009,904 times
Reputation: 8546
OPEC's actions are not targeted specifically at US producers. OPEC looks at worldwide predictions of supply and demand. China's devaluation and worsening economy mean lower demand so OPEC responds with measures to keep prices low and their oil industry and revenue stream in full swing.

The biggest consumers of Saudi oil are China, Japan, South Korea and India. The US is way down the list.
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Old 08-12-2015, 02:44 PM
 
Location: Houston
22,412 posts, read 11,547,569 times
Reputation: 9037
Quote:
Originally Posted by froglipz View Post
Now would be the time to develop alternate energy! Oil is finite and WILL only become more and more expensive as it gets used up and becomes rarer. 2 dollar gasoline today will end up being $10 or more until alternative energy becomes more affordable.
I am 57 now, I been hearing this since I was 8.
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Old 08-12-2015, 03:00 PM
 
4,899 posts, read 2,710,148 times
Reputation: 4388
Quote:
Originally Posted by mm4 View Post
Has nothing to do with unsigned Iran deal.

OPEC nations have refused to lower their output, in order to try to starve American production out of North Dakota and elsewhere. American and Canadian producers can't really compete on those prices. It's not quite equivalent to dumping, but its close. If North American producers capitulate there, watch oil prices rocket back to prior levels or higher.

Obamacare luxury health insurance policy mandate costs don't help.
some people will complain even if it's to their advantage.

go ahead and pay for a stranger's gas if you miss paying $4 a gallon
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