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PRINCE ALWALEED: Oil Is Never Going Back To $100
Posted on 1/12/15 at 7:01 pm
Posted on 1/12/15 at 7:01 pm
LINK
Alwaleed bin Talal, the eccentric Saudi billionaire once labeled the "Arabian Warren Buffett," predicted that oil would never again reach $100 a barrel.
"The price of oil above $100 is artificial," he said. "It's not correct."
predicted hard times ahead for America's shale-oil and gas industries.
"No one knows for sure what price is the breaking point for shale," he said. "Wells have a higher production cost. And very clearly these will run out of business, or at least not be economical."
33
Posted on 1/12/15 at 7:01 pm to RedRifle
all i have to say is game on motherfricker
Posted on 1/12/15 at 7:02 pm to RedRifle
quote:
PRINCE ALWALEED
Can't get the Aladdin song out of my head.
And I hope he's right.
This post was edited on 1/12/15 at 7:04 pm
Posted on 1/12/15 at 7:02 pm to RedRifle
inb4 O&G workers lose their minds in this thread
Posted on 1/12/15 at 7:03 pm to RedRifle
frick. Hope he is wrong
Posted on 1/12/15 at 7:03 pm to RedRifle
Is that a throne room in a plane? I bet he posts here. 
Posted on 1/12/15 at 7:04 pm to Scruffy
Posted on 1/12/15 at 7:05 pm to RedRifle
Looks like an Arab Bernie Lomax.
Posted on 1/12/15 at 7:05 pm to 70739tigah
He hopes.....
Posted on 1/12/15 at 7:06 pm to RedRifle
ERMAHGERD
Posted on 1/12/15 at 7:07 pm to RedRifle
You want the bull, you're gonna get the horns bitch. 
Posted on 1/12/15 at 7:08 pm to RedRifle
ALADEEN
Posted on 1/12/15 at 7:08 pm to RedRifle
That dude is off his fricking rocker. I drank with some bubbas (American and British) who claimed to have been in his entourage at some point. Dude is volatile. He was worth almost $30B at one point and was down to about $9B a few years ago. Apparently it sent him over the edge. The American dude ended up publishing an article about how his palaces were basically run like elegant slave camps where the workers had no rights and needed permission to marry, travel, etc. He was held in KSA, then expelled for presuming to marry one of the girls on the staff. I don't even think she was Saudi or Muslim. She was a Filipina or something.
Posted on 1/12/15 at 7:09 pm to RedRifle
We don't need it to be $100 bbls.
$75-85 bbls is good enough.
$75-85 bbls is good enough.
Posted on 1/12/15 at 7:09 pm to RedRifle
He's lying
Posted on 1/12/15 at 7:10 pm to tgrbaitn08
quote:frick that. Scruffy likes where it is.
$75-85 bbls is good enough.
Posted on 1/12/15 at 7:11 pm to tgrbaitn08
quote:
We don't need it to be $100 bbls. $75-85 bbls is good enough.
I'd be willing to sacrifice Louisiana, Texas, and Oklahoma to the zombie apocalypse to keep oil below $60 a barrel. Sorry. My old man's stock in ExxonMobile has weathered all the storms. I'm sure they'll be at the forefront of solar once it becomes profitable.
Posted on 1/12/15 at 7:13 pm to Navytiger74
$60/ bbls is manageable, but would be nice to have a little cushion at $75
Posted on 1/12/15 at 7:14 pm to tgrbaitn08
quote:Would be nice for those who have to buy gas for it to be lower, and we outnumber O&G workers.
$60/ bbls is manageable, but would be nice to have a little cushion at $75
This post was edited on 1/12/15 at 7:15 pm
Posted on 1/12/15 at 7:17 pm to Scruffy
quote:
we outnumber O&G workers.
Everyone has to buy gas.
Higher price of oil benefits more than just O&G workers. Especially if you live along the Gulf Coast.
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