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2
Posted on 1/5/15 at 4:50 pm to Scrowe
quote:
The months of low fuel prices will be eclipsed by high fuel prices that come about from OPEC making that call.
Yup. This is nothing more than the Saudis playing "who has the deepest pockets" with Iran, Russia & (to a smaller extent) our fracking industry. They can last a good while at the current price (or even lower), but I would be shocked if it lasted through the summer driving season (mainly because Russia's economy is already in the shitter).
Posted on 1/5/15 at 4:54 pm to Bard
quote:
Yup. This is nothing more than the Saudis playing "who has the deepest pockets" with Iran, Russia & (to a smaller extent) our fracking industry. They can last a good while at the current price (or even lower), but I would be shocked if it lasted through the summer driving season (mainly because Russia's economy is already in the shitter).
You know, we don't have to import oil. Why do we? Don't we have enough to not have to import?
Posted on 1/5/15 at 4:55 pm to magildachunks
quote:
You know, we don't have to import oil. Why do we? Don't we have enough to not have to import?
We would if we wouldn't export so much of it.
Posted on 1/5/15 at 4:57 pm to Scrowe
quote:
No, they are artificially deflating to run off competition.
How are they artifically deflating? Are they selling oil below production costs?
Posted on 1/5/15 at 4:57 pm to CadesCove
quote:
We would if we wouldn't export so much of it.
We don't have to do that either.
Sucks that people's jobs are dependent on other countries.
Oh well. Such is life
Posted on 1/5/15 at 4:58 pm to magildachunks
so many oilfield economists in here 
Posted on 1/5/15 at 4:59 pm to magildachunks
We produce about 7.44 million bbl/day.
We consume 18.84 million bbl/day.
We have to make up the difference somehow.
We consume 18.84 million bbl/day.
We have to make up the difference somehow.
Posted on 1/5/15 at 5:00 pm to Scrowe
I thought taking over Iraq and the whole war for oil deal was going to make this go away. Bush lied... Or something.
Posted on 1/5/15 at 5:00 pm to America
I bet most idiots in the thread are the same ones sitting at Costco for 30 minutes waiting to fill up their Suburban.
This post was edited on 1/5/15 at 5:01 pm
Posted on 1/5/15 at 5:16 pm to NOFOX
They are crippling their own economy and that of their allies to do this, so I would say they are artificially deflating the cost.
Posted on 1/5/15 at 5:22 pm to Scrowe
quote:
No, they are artificially deflating to run off competition.
No they aren't...their year over year production is down from last year. The American Shale barrels have flooded the market.
Posted on 1/5/15 at 5:24 pm to magildachunks
quote:
You know, we don't have to import oil. Why do we? Don't we have enough to not have to import?
We import because, no, we don't have enough.
Posted on 1/5/15 at 5:31 pm to gaetti15
quote:
they taking that bbc, while the hubby is away
Jody is white, brah.
Posted on 1/5/15 at 5:33 pm to NOFOX
Those bitching because their jobs are on the chopping block are idiotic. They chose to become a part of one of the most volatile industries.
Those rejoicing over big bad oil employees getting fired because they feel as though they've been hemorrhaged by gas prices are also idiotic. It's possible to be happy you have a few bucks extra to spend while showing empathy towards people who are having their careers yanked out from underneath them, even if it's partly by their own choosing.
People complaining about gas prices had the choice to move closer to work; they also had the choice not to drive a 13MPG vehicle. O&G employees could have chosen a different career path. Neither side is any more deserving of sympathy than the other, but this constant painting of the O&G industry being more out to frick the common man than any other industry is ridiculous.
Those rejoicing over big bad oil employees getting fired because they feel as though they've been hemorrhaged by gas prices are also idiotic. It's possible to be happy you have a few bucks extra to spend while showing empathy towards people who are having their careers yanked out from underneath them, even if it's partly by their own choosing.
People complaining about gas prices had the choice to move closer to work; they also had the choice not to drive a 13MPG vehicle. O&G employees could have chosen a different career path. Neither side is any more deserving of sympathy than the other, but this constant painting of the O&G industry being more out to frick the common man than any other industry is ridiculous.
Posted on 1/5/15 at 5:35 pm to cwill
quote:
We import because, no, we don't have enough.
This is the real downside to the drop in prices.
With the additional exploration and production from oils sands, shale, and additional utilization of natural gas there could be a time in the future where we wouldn't need the Saudis (or anyone else) to be self sufficient.
Those plans tend to fall apart at very low oil prices.
Posted on 1/5/15 at 5:47 pm to Louie T
quote:
Those rejoicing over big bad oil employees getting fired because they feel as though they've been hemorrhaged by gas prices are also idiotic.
What?
Who here was shite talking the O&G companies? I'm happy because this will positively affect my industry.
There are, however, a lot of people shite talking the Saudis. Go fuss at them.
Posted on 1/5/15 at 5:50 pm to America
i'm ok with the cheap gas
Posted on 1/5/15 at 5:51 pm to CadesCove
quote:
We would if we wouldn't export so much of it.
Until very recently it was illegal to export any American produced oil. Now there are limited export exceptions that at the top end could permit the exporting of 1MM bbl/d. That's not significant.
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