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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.
A thread title about saudi oil, an OP about saudi oil, but let's also blame high oil prices on Obamacare which is totally irrelevant You must be a Republican
Gas prices have increased a little around certain parts of the country due to a refinery problem in the Midwest. Overall, the price of crude is down and suppliers have started producing the cheaper winter blend gasoline - gas prices will be lower soon.
When (if) Iran is allowed to sell oil on the open market it will increase supply and price will fall further.
My local gas prices spiked yesterday - from $2.30'ish to $2.65'ish today.
We should be so lucky. It's $3.30 here, it hasn't been under $3 since May. At least the progressive in the governors office here hasn't managed to get his new $1/gallon tax pushed through yet.
Saudis want to crush Energy exploration in US since they want to keep US dependent on Saudi Oil.
Surely you can provide evidence to prove that.
Quote:
Originally Posted by greywar
Saudi needs oil at $106 to break even government wise. They are in deep trouble.
No, they are not, and no, they don't need oil at $106/barrel to "break even."
Apparently, ROI on oil is too complicated for many people.
Quote:
Originally Posted by greywar
If our next president pursues solar or fusion seriously Those countries are doomed.
The US doesn't use oil for electrical energy production.
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