Posted on 12/03/2014 11:40:43 AM PST by Ernest_at_the_Beach
Give Saudi Arabia credit: Whoever sets oil-production policy for the desert kingdom has guts. Unfortunately, the sheiks have made what’s likely to become a sucker’s bet.
You know this part already, but the 12-nation Organization of the Petroleum Exporting Countries last week declined to cut production, sending Brent crude oil futures tumbling to their cheapest point since 2009. The Saudis appear to be spoiling for a fight, trying to find out exactly how cheap oil must be to force surging U.S. shale-oil production to seize up like an unlubricated engine.
(Excerpt) Read more at marketwatch.com ...
Maybe W can fly over and hold hands with them.
How big is the Saudi army?
But data from the state of North Dakota says the average cost per barrel in America’s top oil-producing state is only $42 — to make a 10% return for rig owners.
When Keystone gets built, the price of oil inside Canada and the US goes down because the cost of transport to the refineries goes down, and the cost of the oil the refineries refine is way down from OPEC oil.
Since oil is closed system, USA, Canada, and any other additional oil worldwide will be good for price being way below the $100 Opec got last summer.
I am looking at buying an 8 cylinder Mustang, I may be wrong but low price of oil is here long term until world demand returns tight supply and higher prices.
I’d be happy with less expensive natural gas and heating oil.
I was happy to see in recent reports that the US Shale industry can handle oil as low as $40/barrel. Previously, it was $65-80, which had me nervous about oil prices dropping. Looks like OPEC will be getting on a lot of people’s bad sides before they really make a dent in US oil.
that stang will likely give ya 20+ mpg anyways as long as you keep your foot out of it.
Then again, what fun would that be?
Total energy (oil) independence to get a coherent foreign policy
Kudos to Sarah Palin for seeing this before anyone.
Price.
Not much there but really important is their Navy, Is there any ships in the inventory?
Their new “bestie” gonna be China...the friendly folks with mafia business terms and 1.5 billion expendable people to enforce them.
Enjoy the next decade, towelheads....
A new one? If you are looking at buying a rockin' Mustang, brother, of any age really, you are already beyond considerations of gas price.
Hell, go for it, and post us a picture!
The only thing keeping the Saud family in power is the support they get from the US.
Heh. Start your new, big, pickup truck engines! Don’t let the Joneses run over you with theirs!
Hey, People’s Liberation Army, this is the time to reward your people for working so hard and being loyal. New cars for all Chinese people! Get them away from those bicycles and rickshaws! The Yellow River runs out to the sea! Show the new China to the world! Drive!
My 2006 Convertible GT Mustang got 25 MPG this last weekend on a trip from Long Beach to Santa Barbara and back. Still fun with top down on the 101 and PCH!
No doubt, a big V8 can be lazy on the freeway in overdrive and get great mileage.
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