ISIS stole rather than developed their oil fields. They have no capital investment in development to re-coup. To them, whatever they get is virtually free money.
The Saudi, doubtless rich, still had development and drilling cost they have to forego to be on the same field of cost-v-return.
I thought OPEC no longer controlled prices, it was speculators ? That all OPEC could do was open or close the spigot.
Do you know if the Middle East has any significant oil deposits that can only be developed by “fracking”?
http://www.washingtonsblog.com/2014/10/whats-behind-lower-gas-prices-bombings-syria-southeastern-ukraine.html
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“Here are the actual percentage-figures on that: Russia supplies 38% of it, #2 Norway (the only European nation among the top 15) supplies 18%, and all other countries collectively supply a grand total of 44%. That’s it; that’s all — in the world’s largest energy-market, Russia is the lone giant. But U.S. President Obama’s team are working hard to change that, to do a huge favor for the royals of Saudi Arabia and of Qatar, and yank that business for them. (Unfortunately, the residents in southeastern Ukraine are being bombed and driven out to become refugees in Russia, as an essential part of this operation to choke off Russia’s gas-supply into Europe and transfer that business mainly to those royals. This objective against Russia and for those royals is considered to be far more important than its many thousands of victims are, and no one in the Obama Administration has provided any indication — at least publicly — that tears have been shed there for the residents in southeast Ukraine who have been mass-murdered and for the roughly million of them who have fled to refuge and safety in Russia to escape being bombed by the America’s new client-state, the Ukrainian Government.)
Obama has initiated, and is leading, this international aristocratic team, consisting of the U.S. aristocracy and mainly two Sunni Moslem aristocracies — the Saudi and the Qatari royal families — to choke off Russia’s economic lifeblood from those European energy sales, and to transfer lots of this business, via new oil and gas pipeline contracts and new international trade-deals, over to the royal families of Saudi Arabia and Qatar. Those royals, in turn, are assisting Obama in the overthrow of the key Russia-allied leader of Syria, Bashar al-Assad, who has performed an indispensable role for Russia in blocking any such massive expansion of Saudi and Qatari energy-traffic into Europe, and who has thus been a vital protector of Russia’s dominance in the European energy-market.”
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Yet another take on what is going on.
http://www.globalresearch.ca/obamas-secret-deals-with-saudi-arabia-and-qatar-whats-behind-lower-gas-prices-and-the-bombing-of-syria-and-eastern-ukraine/5412311
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yet another take:
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“Why is the Ukrainian Government, which the U.S. supports, bombing the pro-Russian residents who live in Ukraine’s own southeast?
Why is the American Government, which aims to oust Syria’s leader Bashar al-Assad, bombing his main enemy, ISIS?
I find that both bombings are different parts of the same Obama-initiated business-operation, in which the American aristocracy, Saudi aristocracy, and Qatari aristocracy, work together, to grab dominance over supplying energy to the world’s biggest energy-market, Europe, away from Russia, which currently is by far Europe’s largest energy-supplier.
Here are the actual percentage-figures on that: Russia supplies 38%, #2 Norway (the only European nation among the top 15) supplies 18%, and all other countries collectively supply a grand total of 44%. That’s it; that’s all — in the world’s largest energy-market. Russia is the lone giant. But U.S. President Obama’s team want to change that. (Unfortunately, the residents in southeastern Ukraine are being bombed and driven out to become refugees in Russia, as an essential part of this operation to choke off Russia’s gas-supply to Europe.)
Obama has initiated, and is leading, this international aristocratic team, consisting of the U.S. aristocracy and Sunni Moslem aristocracies — the Saudi and the Qatari royal families — to choke off Russia’s economic lifeblood from those European energy sales, and to transfer lots of this business, via new oil and gas pipeline contracts and new international trade-deals, over to the royal families of Saudi Arabia and Qatar. Those royals, in turn, are assisting Obama in the overthrow of the key Russia-allied leader of Syria, Bashar al-Assad, who has performed an indispensable role in blocking any such massive expansion of Saudi and Qatari energy-traffic into Europe, and who has thus been a vital protector of Russia’s dominance in the European energy-market.
America’s aristocracy would be benefited in many ways from this changeover to Europe’s increasing dependence upon those Sunni Moslem nations, which have long been allied with U.S. oil companies, and away from the Shiite Moslem nation of Iran, and from its key backer, Russia.
The most important way that America’s aristocrats would benefit would be the continuance, for the indefinite future, of the U.S. dollar’s role as the international reserve currency, in which energy and energy-futures are traded. The Sunni nations are committed to continued dominance of the dollar, and Wall Street depends on that continuance. It’s also one of the reasons the U.S. Treasury’s sales of U.S. Federal debt around the world have been as successful as they are. This also provides essential support to the U.S. Federal Reserve.
Furthermore, Obama’s effort to force the European Union to weaken their anti-global-warming “
ping