Help Stabilize Global Crude Markets But Stops Short Of Committing To Production Cuts
http://www.ibtimes.com/low-oil-prices-sa...s-stops-2196336
http://www.ibtimes.com/low-oil-prices-sa...s-stops-2196336
Low Oil Prices: Saudi Arabia Says It's Ready To
- Thread starter John_Conrad
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I don't think there's much they can do; they and OPEC's ability to control the market has dwindled to US shale, even with the low prices.
http://www.forbes.com/sites/jamesconca/2015/07/22/u-s-winning-oil-war-against-saudi-arabia/
http://www.forbes.com/sites/jamesconca/2015/07/22/u-s-winning-oil-war-against-saudi-arabia/
that's a good article you linked there drew99gt, thanks.
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Originally Posted By: Drew99GT
I don't think there's much they can do; they and OPEC's ability to control the market has dwindled to US shale, even with the low prices.
http://www.forbes.com/sites/jamesconca/2015/07/22/u-s-winning-oil-war-against-saudi-arabia/
I don't think there's much they can do; they and OPEC's ability to control the market has dwindled to US shale, even with the low prices.
http://www.forbes.com/sites/jamesconca/2015/07/22/u-s-winning-oil-war-against-saudi-arabia/
The Saudi's are between a rock and a hard place. The current oil price is well below where they need it to be, and it may be going much lower.
http://www.telegraph.co.uk/finance/oilpr...rage-sites.html
http://www.telegraph.co.uk/finance/oilpr...rage-sites.html
that's another good read admdevillenueve
Won't it be time for a new tax and some new regulations if the market lowers the price at the pump any more?
yes it will. wasn't too long ago they were contemplating that, in fact i think it was early this year.
why can't we build more refineries and put people to work while processing all this excess oil when these oil surpluses arise?
why can't we build more refineries and put people to work while processing all this excess oil when these oil surpluses arise?
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Don't forget that Iranian oil should start hitting the market fairly soon...I think China and India have been buying their depressed production for cheap, but it should have an impact when they can hit the open market and really open the spigots.
I think the biggest problem with building refineries is that everybody wants them to be somewhere far away from where they live. And, nobody wants to be stuck with that excess capacity if there is a downturn in demand.
I think the biggest problem with building refineries is that everybody wants them to be somewhere far away from where they live. And, nobody wants to be stuck with that excess capacity if there is a downturn in demand.
it's never easy...i cant' have my cake and eat it too...LOL
My question is when do I buy shares of American companies involved in unconventional plays?
Like Strata-x and SM Energy?;
Is now the time?
Like Strata-x and SM Energy?;
Is now the time?
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Originally Posted By: CT8
The Saud needs to raise money to pay for all the new military armament they just purchased.
No, they need the money to pay off their citizenry for the social welfare state the government runs so as to stay in power.
Same thing in Russia, and why neither big producers can cut production when prices are low. They'd potentially have revolution and be strung up like the way they treated the political opposition in the past.
There's a lot more going on in petroleum prices than fracking and shale. Those are just the local parts of the puzzle the media can explain easily without having to work too hard.
The Saud needs to raise money to pay for all the new military armament they just purchased.
No, they need the money to pay off their citizenry for the social welfare state the government runs so as to stay in power.
Same thing in Russia, and why neither big producers can cut production when prices are low. They'd potentially have revolution and be strung up like the way they treated the political opposition in the past.
There's a lot more going on in petroleum prices than fracking and shale. Those are just the local parts of the puzzle the media can explain easily without having to work too hard.
Originally Posted By: AdmdeVilleneuve
The Saudi's are between a rock and a hard place. The current oil price is well below where they need it to be, and it may be going much lower.
http://www.telegraph.co.uk/finance/oilpr...rage-sites.html
Ancient economic theory holds that if you want more of something, make it more expensive.
The Saudis and their lesser brethren in OPEC did a brilliant job of making oil more expensive.
This had the result of making investors think a little more seriously about unconventional sources and recovery methods.
The result was a flood of oil after a few years, along with a lot of hard-earned knowledge.
As a result, the OPEC gang have painted themselves into a corner.
Limit production to create higher prices and the unconventional operators will be able to fill in the difference.
Leave production and therefore prices where they are and all of those countries that have built their economies around oil exports are all screwed, some more than others.
The Saudi's are between a rock and a hard place. The current oil price is well below where they need it to be, and it may be going much lower.
http://www.telegraph.co.uk/finance/oilpr...rage-sites.html
Ancient economic theory holds that if you want more of something, make it more expensive.
The Saudis and their lesser brethren in OPEC did a brilliant job of making oil more expensive.
This had the result of making investors think a little more seriously about unconventional sources and recovery methods.
The result was a flood of oil after a few years, along with a lot of hard-earned knowledge.
As a result, the OPEC gang have painted themselves into a corner.
Limit production to create higher prices and the unconventional operators will be able to fill in the difference.
Leave production and therefore prices where they are and all of those countries that have built their economies around oil exports are all screwed, some more than others.
Originally Posted By: OneEyeJack
Won't it be time for a new tax and some new regulations if the market lowers the price at the pump any more?
That's a given. The thing is they don't remove it when the price sky rockets. IMO any politician advocating tax increases should be voted out ASAP or recalled.
They have to be made to understand that they must control spending and stop spending taxpayer monies like it was Monopoly money.
Won't it be time for a new tax and some new regulations if the market lowers the price at the pump any more?
That's a given. The thing is they don't remove it when the price sky rockets. IMO any politician advocating tax increases should be voted out ASAP or recalled.
They have to be made to understand that they must control spending and stop spending taxpayer monies like it was Monopoly money.
Originally Posted By: Or
Originally Posted By: CT8
The Saud needs to raise money to pay for all the new military armament they just purchased.
No, they need the money to pay off their citizenry for the social welfare state the government runs so as to stay in power.
Same thing in Russia, and why neither big producers can cut production when prices are low. They'd potentially have revolution and be strung up like the way they treated the political opposition in the past.
There's a lot more going on in petroleum prices than fracking and shale. Those are just the local parts of the puzzle the media can explain easily without having to work too hard.
Yes the banksters are [censored] at the BRIC nations and the petro dollar exchange etc and the new world order..
Originally Posted By: CT8
The Saud needs to raise money to pay for all the new military armament they just purchased.
No, they need the money to pay off their citizenry for the social welfare state the government runs so as to stay in power.
Same thing in Russia, and why neither big producers can cut production when prices are low. They'd potentially have revolution and be strung up like the way they treated the political opposition in the past.
There's a lot more going on in petroleum prices than fracking and shale. Those are just the local parts of the puzzle the media can explain easily without having to work too hard.
Yes the banksters are [censored] at the BRIC nations and the petro dollar exchange etc and the new world order..
Originally Posted By: Trav
They must stop spending taxpayer money like it is Monopoly money.
+1
They must stop spending taxpayer money like it is Monopoly money.
+1
Originally Posted By: Vern_in_IL
My question is when do I buy shares of American companies involved in unconventional plays?
Like Strata-x and SM Energy?;
Is now the time?
I bought a few airline stocks due to the drastic drop in crude oil prices....(Southwest , Delta, JetBlue, American). You know airline tickets didn't drop 50%.
Kinder Morgan got beat up due to crude oil prices, they are in the pipeline business not oil drilling, exploration, refining, etc... KMI pays good dividends.
My question is when do I buy shares of American companies involved in unconventional plays?
Like Strata-x and SM Energy?;
Is now the time?
I bought a few airline stocks due to the drastic drop in crude oil prices....(Southwest , Delta, JetBlue, American). You know airline tickets didn't drop 50%.
Kinder Morgan got beat up due to crude oil prices, they are in the pipeline business not oil drilling, exploration, refining, etc... KMI pays good dividends.
Originally Posted By: John_Conrad
yes it will. wasn't too long ago they were contemplating that, in fact i think it was early this year.
why can't we build more refineries and put people to work while processing all this excess oil when these oil surpluses arise?
EPA regulations , costs and people saying 'not in my backyard '.
yes it will. wasn't too long ago they were contemplating that, in fact i think it was early this year.
why can't we build more refineries and put people to work while processing all this excess oil when these oil surpluses arise?
EPA regulations , costs and people saying 'not in my backyard '.
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