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Started By
Message
2
Posted on 3/11/20 at 3:28 pm to genuineLSUtiger
quote:
Time to bomb both countries back into the stone age
Posted on 3/11/20 at 3:29 pm to HempHead
Who Saudi or Russia? Russia plays that fine line of supplying Europe (germany) its natural gas and needs to keep them happy and at the same time be a foil to us.
The Saudis want to inflict harm on them but also in us. Long term it’s bad for them if we stop relying as heavily on their oil and if we start to really export it. Short term they want to put their nuts on the table.
The Saudis want to inflict harm on them but also in us. Long term it’s bad for them if we stop relying as heavily on their oil and if we start to really export it. Short term they want to put their nuts on the table.
Posted on 3/11/20 at 3:30 pm to HempHead
Here is a comprehensive list of every time I successfully predicted future oil prices:
You're welcome.
You're welcome.
Posted on 3/11/20 at 3:31 pm to jbgleason
quote:Pretty spot on.
OPEC limits production to keep prices high. Domestic producers jump in and produce oil at a lower price. Yeah America!
OPEC and Russia say "nope" and open the flood gates to drop prices. Domestic producers complain.
Free Enterprise bitches. Make it cheaper than they do and we will buy it.
Seems as though the shale market has been filling the space that has been provided by OPEC and Russia controlling production... to the market share detriment of OPEC and Russia.
They may or may not be doing #MuhRussiaCollusion. However, it makes good business sense to try to recapture market share.
The only downside for OPEC is that they are exhausting their "potentially finite" resources at lower market value to pressure competition at below the competitions' break-even point.
Depending on the debt structure of these shale companies, they may be permanently pushed out of business, consolidated, or just resume production when the price returns to profitable levels.
It's almost always a question of... do you take less now or more later?
Posted on 3/11/20 at 3:32 pm to RedRifle
Saudi is probably just aiming for market share. Putin is also pissed about the us sanctioning the nord stream pipeline that they have ready to bring gas into Europe (good call from trump, huh). They also sell Iranian oil which we’ve sanctioned for years. There is a lot of geopolitics involved in these decisions.
Posted on 3/11/20 at 3:34 pm to genuineLSUtiger
quote:
Time to bomb both countries back into the stone age
Why do you hate capitalism?
Posted on 3/11/20 at 3:35 pm to RedRifle
No shite
Posted on 3/11/20 at 3:36 pm to RedRifle
The thought has crossed my mind that this is what’s up
Posted on 3/11/20 at 3:36 pm to RedRifle
Pretty sure I'm getting laid off tomorrow. Was a good ride baws, looks like it's back to DOT surveys until the market corrects itself.
Posted on 3/11/20 at 3:37 pm to HempHead
quote:
Someone correct me if I am wrong, but doesn't the Russian budget require a substantially higher price of oil in order to be balanced?
The saudis can produce for cheaper, but all their social programs require higher prices or the country has to make all of their nationals work. And they won’t do that
Posted on 3/11/20 at 3:37 pm to RedRifle
Cheap gas is attacking us now? Bring it on.
Posted on 3/11/20 at 3:39 pm to HempHead
quote:
Am I wrong in thinking that the Saudis have more easily accessible oil compared to Russia? Less capital intensive means of extraction and whatnot.
No, but the Saudi’s pay for way more public shite than Russia does
Posted on 3/11/20 at 3:41 pm to RedRifle
Nah, they are attacking each other and it is indirectly affecting them through price manipulations. Just keep drilling, or buy some of that cheap oil and refine it in the meanwhile.
Posted on 3/11/20 at 3:41 pm to udtiger
quote:
Attacking us during a Dem-media fueled freak out over a virus is genius.
Do you really believe that left-leaning media in the US is the source of concern about a virus that has basically shut down China and Italy before it even really got going here? Time to step away from the Fox News.
Posted on 3/11/20 at 3:44 pm to ELVIS U
quote:
Nah, they are attacking each other and it is indirectly affecting them through price manipulations. Just keep drilling, or buy some of that cheap oil and refine it in the meanwhile.
Yup, put that Saudi sweet down every reserve we have available. What's the Bayou Corne salt dome doing these days?
Posted on 3/11/20 at 3:44 pm to jbgleason
quote:
Free Enterprise bitches.
Meh, that's debatable.
Posted on 3/11/20 at 3:45 pm to Jester
Go to the poli board. Yeah a number of them do believe it
That being said, the media is definitely playing a large part in fueling this panic
That being said, the media is definitely playing a large part in fueling this panic
Posted on 3/11/20 at 3:49 pm to dbeck
quote:
Why do you hate capitalism?
Lol at you thinking Saudi Arabia and Russia practice capitalism. Both can go produce under breakeven prices because the gov subsides the crap out the industry
There are about handful of countries in this world that mostly practice some form of true capitalism. U.S. Australia, New Zealand, and few S. American countries like Uruguay
Posted on 3/11/20 at 3:50 pm to RedRifle
So why do we care about the shale industry? The oil companies hate it too. F the frackers. Nobody needs seismic or fracking fluid in their drinking water.
Shale industry sucks worse than the coal industry. Good riddance to South Dakota's brief lived prosperity.
Shale industry sucks worse than the coal industry. Good riddance to South Dakota's brief lived prosperity.
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