Posted on 05/11/2016 6:29:09 AM PDT by Lorianne
see link below
...Russia moves in....
The market at work.
We have a surplus of crude, largely due to the subsidizing of an industry that has no market as China’s boom slows to a more melodic pace. We’ll return to these interests when the market can afford it.
this region is very expensive to operate in. current prices won’t support exploitation.
Maybe. But the main reason is the oil is uneconomic at current prices.
They should get their money back.
It is cheaper to frack in a warmer region.
The reason for poor economy can be laid at the feet of Obama and the demoRATS and the energy sector is in shamble for lack of support by our rats also.
Kind of, in an indirect sense.
The liberals are certainly doing their best to harm the O&G industry and, yes, the overall economy is poor so demand for oil is weaker.
But the reason oil price is down is simply because supply is up (due to Texas/E NM and also Iran) and demand throughout the world (especially China and India) is lower.
It’s just supply and demand, in a direct sense.
In an indirect sense, yes, bad economic policies lower growth, which lowers demand.
Leftist government and greedy redneck-socialists doing.
I can’t for the life of me understand why so many so called conservatives in Alaska scream and yell about “my permanent fund” and support screwing over the oil producers.
Yeah, I live in Alaska. I know what I’m talking about.
bad economic policies lower growth, which lowers demand. ...
This country could have been the world leader in oil but the lack of refineries and industry mismanagement by the government did not help. When gas was $4.00 a gallon EXON made $4B in profit and paid $35B in taxes. Oil has been boom and crash since it started but the government has kept the industry in the crash mode most of the time. I am sure there are other factors also.
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