Posted on 10/19/2014 6:48:32 PM PDT by SeekAndFind
The collapse in oil prices is already a major cause of concern for countries heavily reliant on exports of the commodity. For some, it could be a matter of avoiding a severe recession.
Here's why: For governments in oil-exporting countries to meet their spending commitments they need oil to remain above a certain price. With oil prices under $87 a barrel, countries that rely on high oil prices, including Venezuela, Russia, and Saudi Arabia, may have a reason to be concerned.
This chart shows the price per barrel that the six most exposed countries need to meet their national budgets. Remember, the price Friday is a piffling $87.
(Excerpt) Read more at businessinsider.com ...
1971.
Or1965.
Or 1981.
Climate change!
Do you suppose the plunge to $87/barrel is the start of that? Could the markets be taking Lockheed’s claims seriously???
No need to be afraid it will stop if prices fall to a certain level. After 40 years of being in the oil business I can assure you that it will stop almost dead in its tracks.
I’m ok with that.
I doubt it but I’m not a market expert and have no insider knowledge.
If scientists in general were to start expressing optimism about Lockheed’s chances at succeeding in this research then yes, that would dramatically alter the oil market.
Oh it be rich the irony!
> This may explain Saudi Arabia’s unusual hints to market participants recently that it was comfortable with sub-$90-a-barrel oil prices — it doesn’t want to admit that its power to shift the price has been eroded.
This isn’t about shale oil production or threat to OPEC pricing hegemony — it’s about every Arab country being at or near the tipping point, and a need to undermine the funding of the jihadists, including the jihadist regime in Iran.
“Could the markets be taking Lockheed’s claims seriously??? “
I say no. First, it’s really just a press release at this point as far as I know. Second, if were real today, and I think that’s a big if, it would be twenty years before they’d actually have a plant in operation.
Third, Wall Street doesn’t think that far ahead. Go back to the housing bubble for example. Anybody who was paying attention knew homebuilders, the mortgage companies specializing in cut-rate mortgages, and Freddie Mac and Fannie Mae were all dead in the water in 2004, 2005, and 2006. But those stocks remained at all-time highs well after housing starts and housing prices peaked and started to drop. Then those stocks collapsed by 60, 70, 90 percent and more in just a couple of weeks.
should NEVER happen...there are gov't subsidies for such nonsense as ethanol and biofuels....drop them immediately and shore up support for oil production in this country...the quicker we can drop the screwball arab countries as suppliers of our energy, the better.....at almost any cost!!!
The US will NOT allow Lockheed to produce energy from their fusion process, even if it were viable.
Folks, do you really think that the US will allow for Saudi to go down the drain?
We are so thick in bed with them it’ll make your head swim.
Who in hell do you think build all these mosques in the country and how many Saudi students are there in the country paying those high tuitions keeping many universities afloat?
Friday’s price was $82.75/bbl, not $87.00/bbl.
Folks, do you really think that the US will allow for Saudi to go down the drain?
Tell us how Lockheed's fusion process would have anything more than a negligible impact on the Saudi economy?
Petroleum isn't used for power generation. Fusion can't produce plastic feedstocks. But fusion can be an economical means of desalinization.
Actually, the Saudis would probably be a major market for the fusion units.
Jubail desalination plants use fuel gas (plenty of it available) and flash evaporation. You want to re-inject the xcess FG?
I like the Bahrainis-- the friendliest of the Arab countries, by far.
I found regular unleaded gasoline at a Chevron in Lakewood, WA (near Tacoma) for $2.79/gallon.
The economic slowdown is even being felt in China. Less economic activity means less demand for energy.
“They’re too stupid to see that.”
They are not stupid at ail. Their plan is to crash the country and making fuel costly is just part of their overall strategy to bring America to her knees.
If the purported fusion breakthrough that Lockheed is touting turns out to be real then these countries are DOOMED soon anyway.
...
Even Lockheed says it’s ten years away, and ten years is a nice round number that scammers like to use.
If they intentionally bring America to her knees, they better find a good place to hide. I would imagine a lot of folks wouldn’t just willingly accept their plans.
How much is Qatar’s break even and obligations?
Qatar is a big time sponsor of Ham@ss and other terrorists.
It would be nice if lower prices meant less money for their mischief making and anti Israel activities.
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