like the boy had anything to do with it... that is IN SPITE of all the buy's meddling.
Posted on 12/14/2015 1:41:21 PM PST by Berlin_Freeper
The country's top finance official, Anton Siluanov, said the government must be prepared for prices to fall further in 2016 as the global glut grows and new supply -- for example from Iran -- enters the market.
"Everything indicates that low oil prices are likely to dominate next year. And it is possible that at some periods [the oil price] will be $30 per barrel," Siluanov was quoted as saying by Russian state-run news agencies.
That would spell more pain for Russia. Oil and gas exports make up almost half of government revenue.
Oil futures were trading at their lowest level in nearly seven years on Monday, sliding below $35 per barrel.
(Excerpt) Read more at money.cnn.com ...
I love it......I love it.....I love it......I am so hoping we get down to below a dollar like we did in the late 90’s......those were the days when you could fill your car for a ten spot. It would be great to have those days again.
Gog/Magog Ping
I was a bit surprised to see 1.66 in Lancaster, SC this morning.
That is cheap.
Is all this cheap oil having any effect on the pocketbooks of oil sheikhs or middle eastern countries? Countries like Qatar and Kuwait rely heavily on oil for their wealth. Because of it, they offer all kinds of free stuff to citizens. When are those things going to be drying up? Or were the sheikhs smart enough to diversify before the oil slump hit?
I don’t remember which thread, but last week somebody posted a graph with each nation’s break even price, and the number of years they could operate with today’s prices, before going in the red. Saudi Arabia was less than 5 years.
Look at it this way, all of Saudi Arabia’s huge surplus, not to mention all the trillions they have spent over the decades merely represents a huge transfer of wealth from Western nations to the House of Saud. We are merely siphoning back a mere fraction of what we have transferred to them over these many years.
Oil and Syria will have Putin making nice,nice with the great bank of the nations, China.
A local leftie wrote a letter-to-the-editor praising Obama for lowering gas prices. No mention was made of oilfield unemployment, much like here.
That’s still 20 dollars a barrel more than I want to see it cost.
Qatar is more Nat Gas and not so much oil.
Liberalism is a religion.
Oh, I don’t mind not exporting money to the Wahhabist royal family.
The Russian government bosses didn’t see it coming, again. They don’t have enough attention span to cut production by only 2 million barrels, which would drive prices through the roof.
...2 million barrels per day, that is.
A war would also send oil prices skyrocketing. Military pursuits consume enormous quantities of the stuff.
like the boy had anything to do with it... that is IN SPITE of all the buy's meddling.
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