Posted on 02/24/2016 5:22:59 AM PST by xzins
The real problem is, who’s to stop them? The Saudi’s have been controlling the oil market for eons and who helped them? The US demodummies need to look in the mirror. With the “recent” upsurge in shale oil technology, the U.S. and Canadian oil producers could easily shut down the Saudi’s if it were not for the environmentalists. I can see some changes in the petroleum stronghold with new leadership should Trump get elected. Time will tell.
If we “put US energy manufacturers out of business” do you think that will cause all the oil and gas under US soil to be stuck there forever??
Wanting the frackers to go broke may be what the Sauds want, but fracking cannot be uninvented, and while they may halt operations, research aimed at improving the technology and lowering cost will cotinue. The genie is out of the bottle and the Saud family knows it.
They are also fighting against the EPA, Dept of Energy, the IRS, and the president himself.
He damn near put BP out of business.
At a time when the price of oil is low, this admin is putting new rules and regs on drillers and refiners.
Trade wars are good for the consumer in the short term, unless it results in either a large chunk of the producers going out of business, or in the formation of a Trust (”Trust” as in, Teddy Roosevelt, “trust-buster”) in reaction.
I think that was exactly my point
It wouldn’t surprise me that the Saudis are doing odongo’s bidding.
Odongo couldn’t get the domestic fracking industry to shut down to satisfy the environazis so he’s asked his sauid buds to “flood the market” in order to put the domestic drillers out of business and thus “saving the environment”.
I put nothing past this POS.
Not to mention that Obozo wants to put a $10.00 "fee" on every barrel of oil.
Ya know, to punish those evil oil companies.
F U B O!
it is true that fracking cannot be uninvented. it is also true that big oil has been seriously influenced by Saudi Arabia for decades. It is not unreasonable to assume that big oil has so much influence from Saudi that Saudi controls it. if the frackers go bankrupt, big oil will buy their operations, and they will put production back at the level of over $100 per barrel and they and Saudi Arabia will be back in control. Saudi is looking to buy what they have to buy to get back to status quo.
/bingo
if there are no companies to produce it, how will it get extracted?
They will form NEW companies, once the price point makes it profitable to do so, but then the trade war starts all over again.
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