Keyword: opec

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  • Russia to bail out Trust Bank with up to $530 million

    12/22/2014 11:32:55 AM PST · by Lorianne · 9 replies
    Reuters ^ | 22 December 2014
    Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis. The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday. The measures "will make it possible for Trust to continue smooth payments operations. All the bank's clients, including depositors, can use its services as usual", the central bank said in a statement. Trust, which hired actor Bruce Willis as...
  • Railcar Bottleneck Looms for Oil

    12/22/2014 6:14:48 AM PST · by thackney · 26 replies
    Wall Street Journal ^ | Dec. 21, 2014 | BOB TITA
    One-third of the crude oil hauled from North Dakota’s Bakken Shale region by railcars could be forced off the tracks and into expensive truck fleets in the next four years, according to a railcar-industry trade group. The Railway Supply Institute says there aren’t enough shops to retrofit cars carrying flammable liquids in time to meet proposed federal deadlines, and that tens of thousands of cars will be idled as a result. The U.S. Department of Transportation wants tank cars carrying crude oil to be retrofitted with more puncture-resistant features in two years, and those carrying ethanol to be upgraded in...
  • Stock Market - Oil 'Panic' Period Ends As Analysis Replaces Emotion

    12/22/2014 5:51:44 AM PST · by thackney · 5 replies
    Forbes ^ | 12/21/2014
    Yes, oil closed below $60 on Friday, but the U.S. stock market closed up – way up from Tuesday’s close. The Fed’s action/non-action might seem the cause, but that looks like coincidental timing. With oil stocks like Chevron selling at both extremely attractive valuations and strong price support levels..., the market turnabout was waiting in the wings, only needing a gentle push to hit the stage in full action. What is noteworthy (and disturbing) is the ease with which commenters tossed about fear-inducing descriptors like “plunge,” “rout,” “crash” and “panic.” Following those emotional portrayals were the typical (and erroneous) visions...
  • Who Will Get Caught When The Oil Debt Bubble Pops?

    12/22/2014 5:31:55 AM PST · by thackney · 18 replies
    Forbes ^ | 12/19/2014
    America’s oil and gas boom was enabled by a huge pile of cheap financing. Many of the leading players in the boom, such as Chesapeake Energy and Continental Resources have for years been making capital investments at levels far surpassing the cashflow generated from operations. The mountain of debt advanced to drillers in recent years is estimated to be in the neighborhood of $500 billion — some $300 billion in leveraged loans and another $200 billion in high yield debt. That’s about 16% of the U.S. high yield debt market, quadruple its share a decade ago. That’s a lot, even...
  • Saudi Arabia: We'll never cut oil production {OPEC really dead?}

    12/22/2014 5:28:28 AM PST · by thackney · 40 replies
    CNN Money ^ | December 22, 2014 | John Defterios
    In an exclusive interview with CNN, Saudi oil minister Ali al-Naimi also said he wasn't conspiring to take out rival producers by driving down the price. "These rumors or whoever generated them, is completely mistaken," he said. U.S. crude prices have slumped by nearly 50% in six months, the sharpest fall for many years. That has unsettled stock markets, accelerated a financial crisis in Russia, raised the risk that Venezuela will default and forced some U.S. producers to shed jobs and scale back investment. Depending on which conspiracy theory you subscribe to, Saudi Arabia is waging an oil price war...
  • Obama: Putin No 'Chess Master,' Not 'Someone Who Rolled Me'

    12/21/2014 11:06:24 AM PST · by bkopto · 43 replies
    Newsmax ^ | 12/21/2014 | Staff
    "And right now, he's presiding over the collapse of his currency, a major financial crisis and a huge economic contraction," Obama said in the interview, which was recorded on Friday. "That doesn't sound like somebody who has rolled me or the United States of America. "
  • The Real Reason Russia Cancelled South Stream Part of channel(s): Ukraine (current event)

    12/21/2014 7:59:18 AM PST · by Patriot777 · 2 replies
    Liveleak.com, Syrianfreepress, www.south-streaminfo.com ^ | Dec-20-2014 | Alexander Mercouris - Russia Insider
    The Russians called the EU’s bluff by pulling out of the project instead of accepting the EU’s conditions and are cutting deals with China and Turkey instead.By Alexander Mercouris ~ Russia Insider The reaction to the cancellation of the Sound Stream project has been a wonder to behold and needs to be explained very carefully. In order to understand what has happened it is first necessary to go back to the way Russian-European relations were developing in the 1990s. Briefly, at that period, the assumption was that Russia would become the great supplier of energy and raw materials to Europe....
  • Methane hydrate joins shale gas and deep sea gas

    03/20/2013 5:04:22 PM PDT · by Fractal Trader · 17 replies
    Times of London via www.mattridley.co.uk ^ | 16 March 2013 | Matt Ridley
    The gas age is good news Published on Saturday, March 16, 2013, updated Saturday, March 16, 2013 Methane hydrate joins shale gas and deep sea gas I have the following article in the Times on 15 March:   Move over shale gas, here comes methane hydrate. (Perhaps.) On Tuesday the Japanese government’s drilling ship Chikyu started flaring off gas from a hole drilled into a solid deposit of methane and ice, 300 metres beneath the seabed under 1000 metres of water, 30 miles off the Japanese coast.   The real significance of this gas flare probably lies decades in...
  • Equities Decouple from Oil

    12/20/2014 10:19:39 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | December 20, 2014 | Charles Payne
    The 419-point move for the Dow +2.4% is the biggest since November 30, 2011. A lot was short covering, but those covering were not mom and pop investors…but sometimes, smart money throws in the towel. Yesterday, the biggest news was not headline news and most market-watchers were not paying attention either. The decoupling of equities from oil is huge; even after a rebound attempt in oil failed and crude tumbled, stocks kept moving higher.This is big stuff. It clears the way for good news on gas to be good news, not a deflationary red flare.Here’s the technical part of our Special...
  • Russia’s Central Bank Purchases 600,000 Troy Ounces of Gold in November

    12/20/2014 7:53:44 AM PST · by dennisw · 23 replies
    caseyresearch ^ | Dec 19 | Ed Steer
    Russia Busts "Gold-Selling" Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that "it should be noted that SocGen and its "sources" have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before, "Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet" which also sent SocGen's default risk higher in recent days. So if all it will take to stabilize...
  • The reason oil could drop as low as $20 per barrel

    12/19/2014 12:11:58 PM PST · by C19fan · 82 replies
    Reuters ^ | December 19, 2014 | Anatole Kaletsky
    How low can it go — and how long will it last? The 50 percent slump in oil prices raises both those questions and while nobody can confidently answer the first question (I will try to in a moment), the second is pretty easy. Low oil prices will last long enough for one of two events to happen. The first possibility, the one most traders and analysts seem to expect, is that Saudi Arabia will re-establish OPEC’s monopoly power once it achieves the true geopolitical or economic objectives that spurred it to trigger the slump. The second possibility, one I...
  • What’s Really Driving Saudi’s Reluctance?

    12/19/2014 10:50:36 AM PST · by thackney · 42 replies
    Oil Pro ^ | 12/19/2014 | Kurt Rippelmeyer
    There are numerous stories, on the internet, regarding the decline of oil prices. Everybody has an opinion or forecast, but unfortunately, they range from the eternal optimist to depths of the ultra deep (well ok the deepwater) drill rig. The majority of these posts talk about the glut in recent months as supply overwhelms the demand. Mostly thanks to slumping economies around the world, especially the largest users of petroleum. There is also significant chatter around the internet about Saudi Arabia (KSA) and their reluctance to curb production, which would help the price of oil go back up, to the...
  • The West Should Not Let Russia Fall Apart

    12/19/2014 3:23:15 AM PST · by edpc · 14 replies
    Fortune ^ | 18 Dec 2014 | Cyrus Sinati
    The West shouldn’t stoke the fires engulfing Russia’s wounded economy. Talk in Washington and Brussels this week of levying further economic sanctions on Russia seems counterproductive and will only make matters worse for all parties involved. Like it or not, Russia’s economy has grown simply “too big to fail,” and its political and military might is too dangerous to ignore. The West might have better luck in advancing its goals in the region by helping, not hurting, the Russian bear in its time of need.
  • Exxon Mobil Shows Rising U.S. Output as Prices Fall

    12/18/2014 1:16:24 PM PST · by Up Yours Marxists · 29 replies
    Salt Lake Tribune ^ | December 18, 2014 14:15 GMT | Joe Carroll (Bloomberg News)
    Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment costs and enhanced drilling techniques more than offset the collapse in oil markets, said Troy Eckard, whose Eckard Global owns stakes in more than 260 North Dakota shale wells. Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields, which means extracting...
  • Russian ruble weakens as traders see no major measures in Putin speech

    12/18/2014 4:29:48 AM PST · by elhombrelibre · 20 replies
    Reuters ^ | Alexander Winning and Vladimir Abramov
    The ruble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at his end-of-year news conference. At 0954 GMT (04:54 a.m. EST), the ruble was around 3 percent weaker against the dollar at 62.04 RUBUTSTN=MCX after opening more than 1 percent higher. The rouble was also around 2 percent weaker versus the euro at 76.50 EURRUBTN=MCX on the Moscow Exchange.
  • Oil drop sends major central banks in different directions

    12/18/2014 6:58:19 AM PST · by mac_truck · 2 replies
    Reuters ^ | 12/18/2014 | Paul Carrel, Mike Peacock and Howard Schneider
    The world's major central banks are scrambling to work through the implications of the near halving of the price of oil in the second half of 2014, and they are coming up with very different conclusions. Perhaps unsurprisingly, policymakers looking at robust economic recoveries such as in the United States and Britain are focused on the likely boost to growth and consumption from markedly lower energy prices and the later upward impact that should have on inflation. But for the European Central Bank, battling to revive a moribund economy, the worry is whether cheap oil could tip the euro zone...
  • Mitsui CEO: U.S., Saudis Pushing Oil Prices Lower, Working Together to Hurt Islamic State and Russia

    12/18/2014 5:26:45 AM PST · by thackney · 31 replies
    Wall Street Journal ^ | Dec. 17, 2014 | PETER LANDERS And MARI IWATA
    The head of Mitsui & Co., a big energy investor, said he thinks the U.S. and Saudi Arabia are working together to keep oil prices down in an effort to hurt Islamic State and Russia. Masami Iijima, chief executive of the Japanese trading company, spoke in an interview as crude oil was trading near its lowest level since May 2009. He said the recent decision by the Saudi-led Organization of the Petroleum Exporting Countries to keep production at current levels, which triggered the oil-price plunge, would particularly hurt Islamic State, the militant group that has seized parts of Iraq and...
  • Saudi Arabia's Oil Strategy Is About More Than Destroying The US Shale Business

    12/18/2014 5:14:34 AM PST · by thackney · 34 replies
    Business Insider ^ | DEC. 17, 2014 | SHANE FERRO
    Saudi Arabia may not be aiming at the US in its hands-off policy toward falling oil prices. At a panel discussion Wednesday hosted by the Overseas Press Club and Control Risks (the latter a global risk consultancy), the speakers seemed skeptical of the idea that Saudi Arabia was refusing to prop up oil prices because it wanted to force American producers out of the market. (US shale basins are among the most expensive sources of oil to tap.) There may be better political reasons for this move, with a reduction in American shale supply on the market just being the...
  • Despite Pain, OPEC Hawks Come Round To Merits Of Riding Out Oil Slump

    12/17/2014 9:55:09 AM PST · by thackney · 13 replies
    Reuters via Rig Zone ^ | December 17, 2014 | Alex Lawler
    OPEC members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to defend prices. While Venezuela - which campaigned for output cuts in the run-up to the Nov. 27 meeting - has continued to call for measures to prop up prices, other nations which usually back such action such as Iran and African members have been silent. "The producers have not blinked. We are just watching and selling oil at whatever the price is,"...
  • Yes, Venezuela could collapse if oil keeps dropping

    12/17/2014 6:44:33 AM PST · by SeekAndFind · 43 replies
    American Thinker ^ | 12/17/2014 | Silvio Canto Jr.
    The drop in gasoline prices is a wonderful Christmas present for U.S. consumers.  It's great up here, but keep an eye on Venezuela.  The country could collapse if prices keep dropping. TIME magazine has a good summary about the mess in Caracas: The economic dysfunction and falling price of oil leaves Maduro in a tough spot. He lacks both the political will and popularity to push through meaningful reforms to push Venezuela’s economic house in order. At the same time, he is being increasingly squeezed by the weakness in the oil price. Hugo Chávez was luckier. At the height of...
  • Oil Prices, Sanctions and Currency Collapse Put Putin in a Bind

    12/17/2014 4:37:09 AM PST · by elhombrelibre · 10 replies
    NBC ^ | 16 Dec 14 | Erin McClam
    Vladimir Putin is suddenly feeling the squeeze. The Russian president, earlier this year a swashbuckling land-grabber who seemed to confound the West, finds himself in a three-way economic vise — tumbling oil prices, punishing sanctions and now a collapse in his country's currency. "He really is going to be hit by a perfect storm," said Andrew Kuchins, director of the Russia program at the Center for Strategic & International Studies. "Although much of it is his own making." The value of the Russian ruble plunged by as much as 20 percent on Tuesday despite a desperate attempt by the central...
  • The Ruble’s Fall and Mr. Putin’s Reckoning

    12/17/2014 12:35:04 AM PST · by elhombrelibre · 40 replies
    NYT ^ | 16 Dec 14 | OP ED
    Russians are watching their country suffer another avoidable economic calamity. The blame for this rests largely with the disastrous policies of President Vladimir Putin, who has consistently put his ego, his territorial ambitions and the financial interests of his cronies ahead of the needs of his country. ........................................................ Long before he annexed the Crimean peninsula and began backing pro-Russian forces in eastern Ukraine, Mr. Putin created an economic system that allowed a coterie of insiders to grow wealthy on Russia’s vast oil and gas reserves. He did little to diversify the economy or to make it more resilient. Now Russian...
  • Obama withdraws Alaska's Bristol Bay from oil drilling

    12/16/2014 7:59:43 PM PST · by Jet Jaguar · 35 replies
    Associated Press Fairbanks Daily News-Miner ^ | Dec 16, 2014 | Associated Press
    <p>President Barack Obama announced Tuesday that he's removing more than 52,000 square miles of waters off Alaska's coast from consideration for oil and gas exploration or drilling.</p> <p>The president said in a video announcement that Bristol Bay and nearby waters, covering an area roughly the size of Florida, would be withdrawn from consideration for petroleum leases. He called Bristol Bay one of the country's great natural resources and a massive economic engine.</p>
  • Putin's cronies lose $50 billion

    12/16/2014 1:45:51 PM PST · by elhombrelibre · 58 replies
    CNN ^ | 16 Dec 14 | Ivana Kottasova
    Ouch! Russian billionaires have lost more than $50 billion this year due to the country's unfolding economic nightmare. Western sanctions, low oil prices and the falling ruble have wiped billions off the wealth of Russia's 15 richest men, according to data from Bloomberg. The chairman of Russian gas producer Novatek has suffered the biggest losses, seeing his portfolio shrink by an estimated $8.7 billion. That's equivalent to a loss of nearly 50%.
  • U.N. official: We have 'run out of words' to describe conflict in Syria

    12/15/2014 5:43:46 PM PST · by Citizen Zed · 22 replies
    12 news now ^ | 12-15-2014 | Lorenzo Ferrigno CNN
    "Every time we use a new figure in relation to the Syrian crisis, we say that it is unprecedented. We have run out of words to fully explain the brutality violence and callous disregard for human life which is a hallmark of this crisis," Valerie Amos, the U.N. chief for humanitarian affairs said. The Syrian government has used barrel bombs in densely populated areas and "arbitrarily detained" citizens and subjected them to serious beatings and torture. Armed opposition groups have taken locals hostage and killed civilians by using explosive mortar and car bombs. ISIS has committed "mass victimization" of civilians,...
  • Saudi Arabia’s oil war against Iran and Russia

    12/16/2014 11:13:56 AM PST · by Star Traveler · 47 replies
    The New York Post ^ | Sunday, December 14, 2014 | Ralph Peters
    This week, oil fell through the price floor of $60 a barrel and gas at my local filling station was $2.26 a gallon. That’s great news for commuters and almost every business, but wonderfully bad news for our ugliest enemies. This price plunge has been driven by Saudi Arabia, OPEC’s dominant power. While it’s true that part of Riyadh’s actions respond to the energy renaissance in North America, the greater motivation is breaking Iran’s will. The Saudis believe they can no longer rely on the US to contain Tehran’s imminent nuclear threat, so they’re out to do what our lukewarm...
  • Collapse in oil prices: producers howl, consumers cheer, economists fret

    12/16/2014 9:55:53 AM PST · by Star Traveler · 27 replies
    The Guardian ^ | Tuesday, December 16, 2014 | Staff
    The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has analysts arguing over whether this is a good or bad thing. The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing. The price of a barrel of oil is just under $56, down from a summer high of $107, and lower than at any time since the US was still in recession...
  • Crude Oil Takes No Prisoners as Energy Selloff Tanks S&P 500

    12/10/2014 2:10:16 PM PST · by John W · 38 replies
    the street.com ^ | December 10, 2014 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- If investors had hoped stocks had absorbed most of the headwinds associated with lower oil prices, they were sorely disappointed on Wednesday as the commodity crash continued. Crude prices struggled to remain above $60 a barrel with West Texas Intermediate tanking 5.1% to $60.54 a barrel after OPEC warned that demand for oil in 2015 could slow to its lowest point in 12 years. Just as oil futures stabilized midmorning, the commodity sank to new lows after the EIA reported a large increase in oil imports contributed to oversupply in domestic crude oil inventories for the...
  • WTI Crude Craters To $55 Handle, High-Yield Credit Crashing-er

    12/15/2014 12:14:43 PM PST · by tcrlaf · 19 replies
    Zerohedge ^ | 12-15-2014 | Durden
    Having almost touched $59 overnight, WTI crude has collapsed back to a $55 handle, smashing the Ruble lower and high-yield credit spreads higher. US financial stocks are starting to weaken back towards the credit market's warnings as counterparty risk concerns spread...
  • Washington Post Avoids F-Word in Story About Falling Oil Prices

    12/15/2014 1:08:58 PM PST · by PJ-Comix · 28 replies
    NewsBusters ^ | December 15, 2014 | P.J. Gladnick
    It is the F-word that dares not speak its name at the Washington Post. At least not in the WonkBlog story about plunging oil prices by Chris Mooney. That word is "fracking." Mooney is notorious for his antipathy towards fracking but his failure to attribute the large increase in U.S. oil production to it is laughable. Here is Mooney noticing that oil prices are going way down but fails to credit it to you-know-what due to his ideology:
  • Stocks Tumble in Volatile Session as OPEC Triggers Fresh Oil Freefall

    12/15/2014 9:46:50 AM PST · by John W · 15 replies
    thestreet.com ^ | December 15, 2014 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- OPEC doubled-down on its commitment to current levels of oil production, triggering a fresh selloff in crude prices on Monday. The fall in commodities alongside nerves heading into the Federal Reserve meeting Tuesday pulled stocks lower to start the week. Crude oil prices were falling again after secretary general of OPEC, Abdallah Salem el-Badri, said the oil cartel had not set a fixed oil-price target. Separately, United Arab Emirates oil minister Suhail Al-Mazrouei said the group would stick to production levels even if oil falls to $40 a barrel.
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • Kemp: Past Oil Price Slumps Show US Drillers' Inertia

    12/15/2014 7:09:30 AM PST · by thackney · 2 replies
    Reuters via Rig Zone ^ | December 15, 2014 | John Kemp
    The most important characteristic of the U.S. oil industry is inertia - or to put it another way, drilling and production respond sluggishly even to a large change in prices. Since 1974, there have been four episodes in which oil prices declined sharply over a relatively short time (ignoring the brief price spike and equally rapid reversal in 1990 associated with preparations for the first war between the United States and Iraq). These price slumps occurred between (1) December 1985 and July 1986; (2) January 1997 and December 1998; (3) November 2000 and December 2001; and (4) July 2008 and...
  • Russian Ruble Hits New Low Of 57 To Dollar

    12/12/2014 4:43:59 AM PST · by elhombrelibre · 19 replies
    Radio Free Europe ^ | 12 Dec 14 | Unknown
    The Russian ruble fell below 57 to the dollar in trading on December 12, continuing a slide that has cut its value nearly in half this year. The ruble's value against the dollar and the euro has continued to decline despite Russia's effort to shore it up by raising a key interest rate by one percentage point on December 11, the fifth increase this year. The ruble was trading at about 57.31 to the dollar at midday on the Moscow exchange and later fell below 57.5. One euro was buying more than 71 rubles. The Russian central bank raised its...
  • Germany to be gas powered for next 70 years

    12/14/2014 7:32:33 PM PST · by Lorianne · 12 replies
    RT ^ | 12 December 2014
    Germany’s plan to phase out nuclear energy and switch to renewables by 2022 is unrealistic as the country is doomed to remain dependent on fossil fuels like oil and gas for the next 70 years, energy expert Matthias Dornfeldt told RT. Renewables can’t replace fossil fuels overnight because there’s not enough infrastructure, said Dornfeldt in an interview with RT. He believes the 21st century will be the century of gas, as the 20th century was the century of oil. “We are going to be dependent on oil as well as on gas, as I see, for the next 50, 60,...
  • Oil price crash means Ł55bn of projects face axe

    12/14/2014 7:34:21 PM PST · by Lorianne · 6 replies
    Telegraph (UK) ^ | 13 December 2014 | Andrew Critchlow
    Dozens of new oil projects in the North Sea and Europe could be shelved as falling prices force international oil companies to tear up their investment plans. Global energy consultancy Wood Mackenzie has said that 32 potential European oil field developments containing 4.9bn barrels of oil equivalent are waiting for approval on more than $87bn (Ł55bn) of funding. These could be at risk should oil prices fall below $60 per barrel. “Major projects and investment in the UK and across Continental and Mediterranean Europe could be at risk if prices stay below $80 per barrel, as over 70pc of the...
  • Bakken-Cushing pipeline project slammed shut

    12/14/2014 5:55:26 PM PST · by Red in Blue PA · 14 replies
    Enterprise Products Partners (EPD) is shelving a proposed pipeline that would have transported crude from North Dakota to Oklahoma, the company announced on Friday. The news came in the midst of a brutal slide in global oil prices that have raised concerns about whether U.S. companies will continue to build on the expansion of oil production. Middle East oil producers have yet to announce a cut in production to offset the drop in crude, in what some analysts say is a slow-bleed strategy designed to make pumping crude as uneconomic as possible for the world's fastest growing non-OPEC oil producer....
  • Preacher at Al-Aqsa Mosque Omar Abu Sara to the Jews: "We Shall Slaughter You Without Mercy"

    12/14/2014 3:07:01 PM PST · by Eleutheria5 · 41 replies
    MEMRI ^ | 28/11/14
    In an impromptu sermon at the Al-Aqsa Mosque, Sheik Omar Abu Sara called to slaughter the Jews, whom he called "the most evil of Allah's creations." The sermon was posted on the Internet on November 28, 2014. Transcript is pending. Following are excerpts from a Friday sermon delivered by Palestinian preacher Sheik Omar Abu Sara at the Al-Aqsa Mosque, which was posted on the Internet on November 28, 2014: Omar Abu Sara: Let me start by saying that talking about the traits of the Jews requires one to get into a special mode, because we are dealing with people to...
  • Saudi Arabia’s oil war against Iran and Russia

    12/14/2014 2:08:05 PM PST · by elhombrelibre · 56 replies
    NYP ^ | 14 Dec 14 | Ralph Peters
    This week, oil fell through the price floor of $60 a barrel and gas at my local filling station was $2.26 a gallon. That’s great news for commuters and almost every business, but wonderfully bad news for our ugliest enemies. If oil prices remain low through next year, the effect on rogue governments, from the Russian Federation to Venezuela, will go from damaging to devastating. But Western economies (and China’s) stand to benefit, with cheap oil possibly tickling Europe’s snoozing markets awake. Even most underdeveloped states will get a welcome break.
  • OPEC isn't scared of $40 oil

    12/14/2014 1:42:51 PM PST · by Signalman · 15 replies
    CNNMoney ^ | 12/14/2014 | Gregory Wallace
    OPEC won't rush to cut oil production even if prices fall as low as $40 per barrel, one of the cartel's members said Sunday. The energy minister for the United Arab Emirates told Bloomberg at a Dubai conference that the middle eastern oil producers believe "the market will stabilize itself." "We are not going to change our minds because the prices went to $60 or to $40," Suhail Al-Mazrouei said. Even as it has watched prices dip, OPEC declined to cut back on production at its November meeting. Some observers had expected a production cut to boost the price of...
  • What Oil Shock and Repub. Cave Mean to Stocks and GDP; Investment & Finance Thread - Dec. 14

    12/14/2014 7:43:31 AM PST · by expat_panama · 158 replies
    Weekly investment & finance thread ^ | Dec. 14, 2014 | Freeper Investors
    So while nobody knows the future we still need to know what to expect from the week's two big headlines, even though our view can easily (and will probably) be muddied w/ other factors.  So we deal with an unknown future by checking the historical record for clues on at what the news means to our future investment returns.  What oil bargains do:  namely, what's it doing to the economy and to investments; here's what tanking oil's done in the past (ya gotta LOVE the fed's data site) and how real oil prices (2014$ per barrel) track real GDP-- [click...
  • Mideast Expert: Assad is Winning -- and That’s Bad for Israel

    06/16/2013 7:49:09 AM PDT · by SunkenCiv · 53 replies
    Israel National News ^ | Sunday, June 16, 2013 | Maayana Miskin
    Assad is winning with Iran's help, Mideast expert says. He warns Israel not to rely on the 'corrupt, ineffective' UN. Syrian President Bashar Assad now has the upper hand in his ongoing war with Syrian rebels, according to Dr. David Bukai of Haifa University, an expert in Middle East affairs. Iran and Hizbullah are helping Assad win, Bukai told Arutz Sheva. "This increases his weakness vis-a-vis Iran," he warned. "Syria will be more dependent on Iran, and that will affect our border, because if Assad is not independent and is open to Iranian and Hizbullah influence, there will be attempts...
  • Lower Oil and King Dollar Are Unambiguously Good Don’t listen to the naysayers.

    12/13/2014 5:58:18 AM PST · by bestintxas · 12 replies
    nat review ^ | 12/12/14 | l kudlow
    We all know that the American energy revolution, led by the new technologies of hydraulic fracturing and horizontal drilling, has created a flood of new shale-oil and natural-gas production that has overwhelmed world markets and driven prices down by roughly 40 percent. End-of-week crude oil closed near $57 a barrel, and the national average gasoline price finished at $2.60. No matter what the naysayers are trying to sell, the new energy reality is unambiguously good for the U.S. and global economies. There may be some dislocations among countries, sectors, or companies, but the overwhelming impact is positive. In fact, the...
  • Putin could be finished

    12/13/2014 1:33:23 PM PST · by Tailgunner Joe · 33 replies
    thehill.com ^ | December 13, 2014 | David Russell
    Russian President Vladimir Putin is so easy to dislike because he really is a bad guy and there are few things more pleasurable than contemplating his fall from power. It is reasonably clear that might just happen. Even though he continues to be widely popular in his own country, there are several reasons why he could be brought down. The principle ones are the fall in oil prices and the financial crisis brought on by the sanctions imposed by the West. There are many others: a 40 percent decline in the value of Russian currency; an impending recession; the cost...
  • Turkey's Erdogan lashes out as lira tumbles

    12/13/2014 6:10:44 AM PST · by SunkenCiv · 14 replies
    Whirled Nut Daily ^ | December 12, 2014 | Daniel Dombey
    ...its lowest levels against the dollar for almost a year, amid investor nervousness about emerging markets. By evening trade in Istanbul the currency had fallen beyond TL2.30 to the US dollar, more than 1 per cent down on the day and the weakest level since January, when the Turkish central bank moved to increase interest rates -- a dramatic shift in policy that at the time halted a precipitous drop in its value. ...Turkey is far from alone in being affected by strong US economic data that has heightened expectations of a US Federal Reserve interest rate rise and so...
  • US stocks slump to worst weekly loss in more than two years as oil rout continues

    12/12/2014 2:50:14 PM PST · by John W · 32 replies
    AP via TribTown.com ^ | December 12, 2014 | Steve Rothwell
    NEW YORK — A rout in oil prices shook financial markets Friday, pushing stocks to their worst weekly loss in two and a half years. The stock market fell sharply as investors worried that slumping oil demand is signaling that growth outside of the U.S. is weaker than earlier thought. And while consumers and airlines will benefit from lower fuel prices, energy companies will see their earnings suffer. Some may even go out of business.
  • KPMG Analyst: Still Bullish about Oil, Gas Market Despite Crude Downturn

    12/12/2014 1:42:46 PM PST · by thackney · 16 replies
    Rig Zone ^ | December 12, 2014 | Gene Lockard
    The downturn in crude oil prices in recent months will not last forever, and what the market is experiencing now is not the old boom and bust period, an energy industry analyst told Rigzone. “I’m still incredibly bullish on the industry, and I do think it’s far more stable and resilient than it was in decades past,” KPMG’s Regina Mayor, an advisor for the consulting practice, said. “That’s not to say that it won’t experience a contraction or two, but it’s not the boom and bust cycle we’ve seen.” Already, there are signs that the future remains bright for the...
  • Like low gas prices? So does the station owner

    12/12/2014 2:26:30 PM PST · by Olog-hai · 15 replies
    Associated Press ^ | Dec 12, 2014 3:12 PM EST | Jonathan Fahey
    So you think you are finally getting one over on the gas stations as you pay well under $3 a gallon for the first time in four years? Guess again. Gas stations love low prices too—and not just because customers are nicer when they are paying less. “We’re in the same shoes as the consumer, the cost of fuel is less for us,” says Kevin Beyer, who owns Performance Fuels, a filling station and convenience store in Smithtown, NY. That means profits for Beyer and the nation’s 127,000 filling stations are rising. Before they sell gas to you, station owners...
  • Fall in Oil Prices Threatens Africa’s Economic Growth

    12/11/2014 6:23:12 PM PST · by Red in Blue PA · 32 replies
    Plunging oil prices are threatening Africa’s economic ascent. Recent oil and gas discoveries were hailed as a godsend for African nations aspiring to middle-income status. But billions of investment dollars are moving into projects just as crude prices have tumbled, raising fears that some may be put on hold.
  • US Congress passes bill to impose Venezuela sanctions

    12/12/2014 12:21:47 AM PST · by Berlin_Freeper · 12 replies
    bbc.com ^ | 11 December 2014 | bbc
    The United States Congress has passed a bill which would impose sanctions on Venezuelan officials found to have violated protesters' rights. The vote was passed by the House of Representatives and received similar approval by the Senate earlier this week. The bill is now likely to be signed into law by President Barack Obama. Venezuela's President Nicholas Maduro described the move as imposing "insolent imperialist sanctions".