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Saudi Arabia may go broke before the US oil industry buckles
The Telegraph ^
| August 5, 2015
| Ambrose Evans-Pritchard
Posted on 08/05/2015 4:28:08 PM PDT by Bubba_Leroy
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To: GeronL
Some of them are still drilling.
A friend of mine is drilling 20 new wells in NYS just north of Bradford PA.
41
posted on
08/05/2015 6:28:28 PM PDT
by
heshtesh
(I believe in Sarah Palin, the rest not so much.)
To: mountainlion
SA isn’t an anti-Western country?
Not hardly!!
42
posted on
08/05/2015 6:31:59 PM PDT
by
chesley
(Obama -- Muslim or dhimmi? And does it matter?)
To: heshtesh
43
posted on
08/05/2015 6:37:04 PM PDT
by
GeronL
(Phony Crony Trump is a Chump, Cruz is for real, 100%)
To: Vince Ferrer
electric vehicles are becoming viable. Which? Harley's new electric cycle travels 100 miles and requires a 9 hour charge. That's not a viable "technology."
44
posted on
08/05/2015 6:39:37 PM PDT
by
LouAvul
(There is no more GOP. There is RAT, and RAT lite.)
To: Bubba_Leroy
Good. And then put a big fence around it when it collapses so no one gets in, or out - and certainly don’t let anyone into the United States.
45
posted on
08/05/2015 6:41:12 PM PDT
by
PGR88
To: Bubba_Leroy
A question came to mind after viewing the required price per barrel for each country to break even. Perhaps the true purpose of the Iran deal is to funnel enough money to keep them afloat, until the other M.E. OPEC members succumb to sustained low oil prices. Iran at $130 bbl versus Saudi at $105 bbl to break even on outlays, should be short on funds based on oil sales. What are their reserves? Maybe Donald Trump knows?
To: skeeter
Couldn’t happen to a nicer bunch of people.
47
posted on
08/05/2015 7:23:51 PM PDT
by
glorgau
To: mountainlion
I have the feeling the Russians hit bottom before the Saudis do.
48
posted on
08/05/2015 7:27:02 PM PDT
by
uglybiker
(nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-nuh-BATMAN!)
To: Bubba_Leroy
Couldn’t happen to a nicer bunch.
49
posted on
08/05/2015 10:21:12 PM PDT
by
mbrfl
(fightingmad)
To: Bubba_Leroy
This is a culture thing. Islam doesn’t create innovative, entrepreneurial societies because it is fundamentally socialist in outlook. The Saudis never had a chance even with Obama. If we can reestablish private property and free markets in energy we’ll outpace the world. There’s no reason we cannot have real growth of 4-8% without inflation, except government. Government at every level is pro-status quo and if you’re coasting you’re crashing.
50
posted on
08/06/2015 3:52:47 AM PDT
by
1010RD
(First, Do No Harm)
To: chesley
SA has been spending millions in the anti fracking protests and legislation. They like to sell us their oil to pay for their political/religious Mosques in America. I think they will become less powerful and possibility be taken over by west hostile countries like Iran. SA/OPEC are losing their power over oil and more hostile are gaining power.
51
posted on
08/06/2015 5:26:24 AM PDT
by
mountainlion
(Live well for those that did not make it back.)
To: Repeal The 17th
To: Dusty Road
I have seen some of those old wells in Alabama, Mississippi, and Louisiana
pumping day in and day out while I was on the road for work over the last 40 years.
The cost of the land, the rights, and the drilling was spent a long time ago,
but those wells just keep on producing.
I get out to Texas sometimes, but not very often.
Unfortunately, my state of Georgia has no oil.
53
posted on
08/06/2015 3:49:09 PM PDT
by
Repeal The 17th
(I was conceived in liberty, how about you?)
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