Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Saudis To The Oil Market: Get Used To Lower Prices ($80 A Barrel?)
BI ^ | 10-13-2014 | Ron Bousso and Joshua Schneyer

Posted on 10/13/2014 6:11:33 AM PDT by blam

click here to read article


Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last

1 posted on 10/13/2014 6:11:33 AM PDT by blam
[ Post Reply | Private Reply | View Replies]

To: blam
China, Russia Sign CNY150 Billion Local-Currency Swap As Plunging Oil Prices Sting Putin

"While it is beyond a doubt that the primary catalyst for Europe's triple-dip recession has been the nearly two quarters and counting of escalating Russian sanctions that were supposed to solely harm Putin (because who could have possibly foreseen that plunging German exports to Russia would have a far greater impact on the export-driven German economy), the truth is that the Kremlin itself is starting to hurt, if not so much as a result of the European trade embargo but mostly due to crashing oil prices, which have been driven lower almost exclusively by Saudi Arabia as part of its most recent secret bargain with the US, a bargain which as we read today is likely to tear OPEC apart."

2 posted on 10/13/2014 6:17:24 AM PDT by blam (Jeff Sessions For President)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Could it be that the Muslims in Riyadh are trying to help out one of their own come election time?


3 posted on 10/13/2014 6:20:52 AM PDT by NY.SS-Bar9 (Those that vote for a living outnumber those that work for one.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

It isn’t unusual for oil prices to start falling around November due to decreased demand.


4 posted on 10/13/2014 6:23:02 AM PDT by RC one (Militarized law enforcement is just a nice way of saying martial law enforcement.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Hah.

Seems several years ago I recall it was around $85 bbl and gas prices were still over $3 gallon. Of course probably because of the price of refining it, but still...


5 posted on 10/13/2014 6:27:12 AM PDT by Cowgirl of Justice
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

The Obama lovers on CNBC are salivating every morning that the declining price of gas will ensure that this will be a great Christmas shopping season, thus propping up this false “recovery” when it is noticeably lagging.

It proves how out of touch they are, because with food prices going through the roof, any savings at the gas pump will be literally eaten up at the table. Anyone who really shops for food knows that a “pound” of coffee is now 12 oz. and costs more for less, and decent hamburger now costs what steak used to cost per pound. We are not fooled, and we are not happy.


6 posted on 10/13/2014 6:29:36 AM PDT by txrefugee
[ Post Reply | Private Reply | To 1 | View Replies]

To: NY.SS-Bar9

Probably not, it’s probably just to slow down drilling in this country.

At $80, with the cost of some of the wells being drilled there will never be a payout.

It will cost more to drill/complete than you will ever get out of it so you don’t get investors to put money into drilling.

No money, no drilling.


7 posted on 10/13/2014 6:31:34 AM PDT by IMR 4350
[ Post Reply | Private Reply | To 3 | View Replies]

To: NY.SS-Bar9

No they are trying to stamp out horizontal drilling and fracing by selling at an artificially low price.


8 posted on 10/13/2014 6:37:47 AM PDT by TheThirdRuffian (RINOS like Romney, McCain, Christie are sure losers. No more!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: IMR 4350
Yep, I want lower fuel prices, but I wouldn't put it past the Sauds to try and bankrupt North American oil production.

I think the 80’s Texas oil bust is the example here.

9 posted on 10/13/2014 6:38:09 AM PDT by Obadiah (None are more hopelessly enslaved than those who falsely believe they are free.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: RC one

Costs drop considerably in each election cycle. This is normal, and I think one of the reasons that oil contracts have to firmed by august. So the oil companies buy during the drop.


10 posted on 10/13/2014 6:39:49 AM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Chickensoup

yep, there’s that too.


11 posted on 10/13/2014 6:42:08 AM PDT by RC one (Militarized law enforcement is just a nice way of saying martial law enforcement.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: blam
.. a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch

There you have it.

And these are the 'friendly' sandni Muzis.

spit

12 posted on 10/13/2014 6:42:52 AM PDT by tomkat (tried optimism > didn't work)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RC one

Not in this temperate climate i.e., northern Mi.


13 posted on 10/13/2014 6:45:33 AM PDT by mcshot (Kenya now says 0 or Soebarkah born in U.S..)
[ Post Reply | Private Reply | To 4 | View Replies]

To: tomkat

low oil prices will also be a slam on Russia and Venezuela

Which is nice.


14 posted on 10/13/2014 6:45:41 AM PDT by GeronL (Vote for Conservatives not for Republicans)
[ Post Reply | Private Reply | To 12 | View Replies]

To: TheThirdRuffian

Like they did during the Carter administration


15 posted on 10/13/2014 6:48:03 AM PDT by South Dakota (shut up and build a bakken pipe line)
[ Post Reply | Private Reply | To 8 | View Replies]

To: TheThirdRuffian
I believe Saudi Arabia will make plenty of money at this price or even substantially lower. Who this hurts is Russia, Venezuela, Iran and other high cost producers. Keep in mind these are the enemies of SA. It is also good for the economies in Europe & Japan because it may keep them from falling further into recession. It is also good for China and other major consumer countries. It may slow down some horizontal drillers but I believe it would have to drop into the $50s to cut it off. It is also good for the US economy in general if the price of diesel fuel would go down. This effects the delivered price of everything we purchase from shoes to bananas.
16 posted on 10/13/2014 6:49:20 AM PDT by woodbutcher1963
[ Post Reply | Private Reply | To 8 | View Replies]

To: Obadiah

Drill baby drill worked.

If SA is hoping to affect an election it’s the 2016 election for Hillary to say Drill baby drill doesn’t work.


17 posted on 10/13/2014 6:50:10 AM PDT by IMR 4350
[ Post Reply | Private Reply | To 9 | View Replies]

To: NY.SS-Bar9

I don’t think it relates to US politics. The Saudis are just trying to make US oil production unprofitable.


18 posted on 10/13/2014 6:50:23 AM PDT by lacrew
[ Post Reply | Private Reply | To 3 | View Replies]

To: South Dakota

Yep


19 posted on 10/13/2014 6:52:06 AM PDT by TheThirdRuffian (RINOS like Romney, McCain, Christie are sure losers. No more!)
[ Post Reply | Private Reply | To 15 | View Replies]

To: blam

Are they trying to force Frackers out of business with low Oil prices ?


20 posted on 10/13/2014 7:34:22 AM PDT by molson209 (Blank)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson