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Posted on 12/15/14 at 2:58 pm to JayDeerTay84
quote:
It's the small guys is mega debt that will more than likely get naught up by the big guys.
That's actually the goal. They're not trying to wipe out fracking, just clean it up and out and cut the supply.
Posted on 12/15/14 at 2:59 pm to cwill
quote:
And those $/bbl break evens are based off the sweet spots....
True, but then I would have had to explain it, with a link, and hard numbers. And explaining how shale deposits are front loaded would really confuse him as opposed to conventional. Let alone the ratio of successful drills between the two. Try and keep up.
Posted on 12/15/14 at 3:01 pm to JayDeerTay84
quote:
So the majority of the Us is more than ok.
Wow, that is what you took from that graph? It was published in Oct '14 (that means 2014) by Bloomberg.
Posted on 12/15/14 at 3:02 pm to htownjeep
Lol.
Yea nothing like a picture with no links or year data.
Yea nothing like a picture with no links or year data.
Posted on 12/15/14 at 3:02 pm to htownjeep
quote:
Wow, that is what you took from that graph
Don't think he saw that line was at $80 per barrel.
Posted on 12/15/14 at 3:04 pm to htownjeep
So we've come to the conclusion that the Saudi's and the U.S. will come out ok in the end. However the Assad regime, Russia, and the Iranian nuclear program will be severely hurt... Who's thinking the U.S. and Saudi's conspired this oil price shock?
Posted on 12/15/14 at 3:05 pm to stevengtiger
quote:
Don't think he saw that line was at $80 per barrel.
Saudi needs over $80 for their budget.
Posted on 12/15/14 at 3:08 pm to Shepherd88
quote:
Who's thinking the U.S. and Saudi's conspired this oil price shock?
Everything is possible!
Posted on 12/15/14 at 3:18 pm to JayDeerTay84
quote:
Everything is possible!
Especially when you edit your statements every time you are made a fool. Looking back through this thread and counting your eraser marks is quite the task.
Posted on 12/15/14 at 3:21 pm to cave canem
Lol I haven't erased anything. I have added too.
Posted on 12/15/14 at 3:25 pm to Shepherd88
quote:
Who's thinking the U.S. and Saudi's conspired this oil price shock?
It has crossed my mind. It wouldn't be the first time Saudi has colluded with oil production for a political purpose.
quote:
the Saudi's and the U.S. will come out ok in the end.
Yeah, but we will hurt more than they will. The smaller guys and a lot of service companies won't make it I'm afraid.
quote:
However the Assad regime, Russia, and the Iranian nuclear program will be severely hurt.
Quite possible. That whole region is pretty hard to predict. Hopefully they don't lash out and attack before they go broke.
Posted on 12/15/14 at 3:34 pm to JayDeerTay84
quote:
Saudi needs over $80 for their budget.
This is oversimplified. Saudis could still support their entire budget on oil sales alone at a lower price per barrel if they increase market share.
They also have $1 trillion in cash reserves to draw upon for this very reason. They would not have to completely cover their budget from oil sales for years to come.
All of this also assumes that the Saudi people will automatically revolt if the budget is cut at all which is not the case.
Posted on 12/15/14 at 3:41 pm to JayDeerTay84
quote:
Saudi needs over $80 for their budget
Think of it as we both worked at the same company and made the exact same amount. And our company just out of the blue made everyone take a 50% pay cut. You are mortgaged to the hilt and have a lot of outstanding credit. I have about 5 times my annual salary in savings.
You will have to quit. I can weather the storm for a while.
Posted on 12/15/14 at 3:41 pm to NOFOX
You also assume other world players will just take the arse raping.
Posted on 12/15/14 at 3:46 pm to JayDeerTay84
quote:
You also assume other world players will just take the arse raping.
Not much they can do economically speaking.
You may see Iran or Russia fund some terrorist activities in Libya or Iraq to take production offline or restrict exports.
Posted on 12/15/14 at 3:51 pm to NOFOX
It it lasts more than a year, I can see that happening.
Posted on 12/15/14 at 3:52 pm to JayDeerTay84
man just give up already, your lack of knowledge about pretty much everything in this thread is quite glaring. Do yourself a favor and go try to learn some things before coming back and making an arse of yourself.
Posted on 12/15/14 at 3:54 pm to GREENHEAD22
Oh ok.
What was I wrong on?
What was I wrong on?
Posted on 12/15/14 at 4:07 pm to JayDeerTay84
quote:
Oh ok.
What was I wrong on?
That the Saudis could not survive prolonged oil prices below $80/bbl.
SA is basically saying they are not going to cut their production to support prices for others. It is a slipperly slope for them which leads to operating at a deficit in the near future.
If they cut production to inflate price then others (like the US) will simply grow output to meet that demand. In cutting production SA may temporarily inflate the price, but is ceding market share.
SA has massive cash reserves and are able to sustain prolonged lower prices. They are going to use that as a tool to take back market share and temper new production.
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