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$1 Oil: Saudi Arabia's Attempt To Crush U.S. Shale
Oilprice ^ | Tom Kool

Posted on 04/01/2020 3:41:07 PM PDT by nickcarraway

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To: nickcarraway

Early 1970s, a barrel of oil went to $40 during the oil embargo and gas hit $1.00 per gallon. Saudi Arabia is largely responsible for 9/11 and now this. It’s time to sever ties with those thugs.


61 posted on 04/01/2020 4:45:55 PM PDT by drypowder
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To: eartick

I know, I witnessed it.

But to read comments here on this thread, you would think what I saw was all a mirage.


62 posted on 04/01/2020 4:46:02 PM PDT by Hostage (Article V)
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To: nickcarraway

So, let me get this straight: We get to keep our oil in the ground for future needs and emergencies, and we get oil from the rest of the world at dirt cheap prices.

Please, don’t throw me in that briar patch! We don’t want to keep our oil and get everybody else’s dirt cheap!


63 posted on 04/01/2020 4:46:48 PM PDT by Engraved-on-His-hands
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To: nickcarraway

Put a tariff on it


64 posted on 04/01/2020 5:01:42 PM PDT by Mr. K (No consequence of repealing obamacare is worse than obamacare itself.)
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To: SkyDancer

I paid $2.35 at Costco Covington.


65 posted on 04/01/2020 5:16:44 PM PDT by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
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To: Lurker
That scumbucket Schumer, had the $2 or $3 billion in funding to fill the strategic reserve, removed from the Coronavirus bill, on the grounds that it would "Help Big Oil".

Democrats are Treasonous.

66 posted on 04/01/2020 5:23:04 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
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To: gogeo

Where’s that? Plus CostCo members get a better price on gas.


67 posted on 04/01/2020 5:26:19 PM PDT by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~ Eat Sleep Fly Repeat ~)
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To: Empire_of_Liberty

Yes, I think it can be done since we fill our strategic reserve by pumping it in, and the president hinted he has a plan ... you may have outed his plan!


68 posted on 04/01/2020 5:29:56 PM PDT by MHGinTN (A dispensation perspective is a powerful tool for discernment)
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To: Hostage

They may work for the oil companies as pumpers and work cows on the side. They are not “oil companies”. They are employees.


69 posted on 04/01/2020 5:34:00 PM PDT by crusty old prospector
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To: TexasM1A

Yep, even with gasoline at $1.50 a gallon, there are people on this site who still think they are getting ripped of by the evil oil companies. The same people who pay more for a gallon of milk. Or a case of bottled water.


70 posted on 04/01/2020 5:39:19 PM PDT by crusty old prospector
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To: ameribbean expat

Right. They tried this before and all that ends up happening is bankruptcies followed by stronger companies buying up the assets. I drove through Hobbs a few weeks ago and there were several new hotels and restaurants going up. Some banks are going to take it in the shorts as are apartment and home builders.


71 posted on 04/01/2020 5:43:00 PM PDT by crusty old prospector
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To: Gay State Conservative

Yes they can. Unfortunately, if they are newer wells, they were drilled with borrowed money.


72 posted on 04/01/2020 5:44:46 PM PDT by crusty old prospector
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To: nickcarraway

The US should guarantee $50/bbl for domestic oil.

And require all US refineries to use 80% domestic oil.

And require US gasoline retailers to use 80% US refinery product.

Of course, they could avoid all the paperwork and accounting by going 100%.

It’s a STRATEGIC issue.

National security and all.


73 posted on 04/01/2020 5:52:10 PM PDT by Mariner (War Criminal #18)
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To: nickcarraway

The energy industry employs up to 7% of the US working population. The cascading layoffs and furloughs that are beginning to occur, when combined with the layoffs of the service sector including hospitality and retail, will be devastating. For those of you wishing for $1 gas, remember that Texas is still heavily dependent upon the oil industry for employment. Massive unemployment in Texas is not good for the country nor for the President, politically.

My view: move our troops out of Saudi Arabia. Why on earth should we protect them when the continue to try and destroy us in this arena?


74 posted on 04/01/2020 6:01:51 PM PDT by Aggie Mama
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To: LibertyWoman

What town are you from?
If you’re around Poplar Bluff do you know of Eddie Justice?
I’m from Osceola, Mo.
Eddie is a friend of mine running for state senate.


75 posted on 04/01/2020 6:04:57 PM PDT by Romans Nine
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To: TexasM1A
"But it’s okay, because us oil and gas folks are just greedy bastards"

Sad isn't it? Most Americans have no earthly idea how much their lives have been made more comfortable and free by oil products. Big oil has been an easy target to demonize all these years but the ones making the most money off of a gallon of gas are the ones doing the insults, government.

Here's a good song about the value of oil in your life. In fact it makes the point that your life literally depends on oil.

Without Oil

76 posted on 04/01/2020 7:38:24 PM PDT by Uncle Sham
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To: Romans Nine
I'm outside of St. Louis about 60 miles W. Franklin County. The bloviating pol is the Franklin County Commissioner; a republican no less.

If anything, this situation has given rise to every sleazy politician there is. Locals, State and on a national level. They stand there pontificating showing their ignorance and their lust for power. I'm sure they believe they have everyone fooled with their self perceived 'brilliance'. They are out of control issuing their little 'edicts'. Sick.of.it

77 posted on 04/01/2020 8:34:11 PM PDT by LibertyWoman
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To: Uncle Sham

Preach.The.Message.

Amen brother.


78 posted on 04/01/2020 8:34:35 PM PDT by Oil Object Insp
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To: nickcarraway

Saudi Arabia is not trying to crush U.S. shale. The Saudis are trying to crush Russia and Iran.


79 posted on 04/01/2020 9:12:40 PM PDT by WASCWatch
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To: nickcarraway

When they start paying $5 a barrel to take it off their hands, I may “purchase” 10 million barrels ...


80 posted on 04/02/2020 3:20:14 AM PDT by trebb (Don't howl about illegal leeches, or Trump in general, while not donating to FR - it's hypocritical.)
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