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Oil dive deepens to 12-year low; $20 warning on China
Yahoo.com ^
Posted on 01/12/2016 8:12:07 PM PST by TigerClaws
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Spoke with a man yesterday. His company laid off 120 people.
This will also make the Saudis vulnerable to collapse economically - and collapse that kingdom.
To: TigerClaws
I'm trying to think of the downside of the collapse of Saudi Arabia...
Thinking...Thinking...Thinking...
2
posted on
01/12/2016 8:14:18 PM PST
by
Cowboy Bob
(With Trump & Cruz, America can't lose!)
To: TigerClaws
3
posted on
01/12/2016 8:16:40 PM PST
by
central_va
(I won't be reconstructed and I do not give a damn.)
To: TigerClaws
The Saudis. Don’t need them.
4
posted on
01/12/2016 8:17:25 PM PST
by
Dallas59
(Only a fool stumbles on things behind him.)
To: Cowboy Bob
1979 was the beginning of World War 3.
Every collapsing dictatorship in the Middle East = another theocracy / expansion of ISIS.
To: TigerClaws
Oil priced between $20.00 and $30.00 cannot be good for Iran or Venezuela either.
To: Cowboy Bob
ISIS or Iran dictating the price of oil?
To: TigerClaws
How soon until they pay us to get a fill up? ;-)
8
posted on
01/12/2016 8:20:47 PM PST
by
r_barton
To: Maine Mariner
Venezuela has already folded. The socialists thought they could pump oil and buy 51% of the vote forever. When the price dropped, they couldn’t afford the social spending anymore. Voters voted them out.
To: Cowboy Bob
Yes, but will this tailspin also sink American start-up companies in the Dakotas - the ones doing all the fracking and shale, etc? I was told their break-even threshold is $40 / bbl
10
posted on
01/12/2016 8:23:15 PM PST
by
WTFOVR
(I find myself exclaiming that expression quite often these days!)
To: TigerClaws
I noticed the 0bomb took credit for the low gas prices in his SOTU speech.
11
posted on
01/12/2016 8:25:11 PM PST
by
luvbach1
(We are finished. It will just take a while before everyone realizes it.)
To: TigerClaws
12
posted on
01/12/2016 8:33:43 PM PST
by
ASA Vet
(Jus Soli + Jus Sanguinis = NBC)
To: TigerClaws
Beware, the winds of war approach...
13
posted on
01/12/2016 8:40:44 PM PST
by
MeneMeneTekelUpharsin
(Freedom is the freedom to discipline yourself so others don't have to do it for you.)
To: stuck_in_new_orleans
ISIS or Iran dictating the price of oil? I would say it's "the market." The supply/demand balance is out of wack. Demand is falling - China, and other economies are in recession (or worse), and production (supply) worldwide contines to increase.
14
posted on
01/12/2016 8:41:48 PM PST
by
Cowboy Bob
(With Trump & Cruz, America can't lose!)
To: Maine Mariner
To: WTFOVR
Yes, but will this tailspin also sink American start-up companies in the Dakotas - the ones doing all the fracking and shale, etc? I was told their break-even threshold is $40 / bbl Yes. I think a lot will go under.
16
posted on
01/12/2016 8:42:48 PM PST
by
Cowboy Bob
(With Trump & Cruz, America can't lose!)
To: Cowboy Bob
More like $50. per barrel.
I am another one that is now out of work because of the low price of oil. It was a fun ride while it lasted.
17
posted on
01/12/2016 8:46:00 PM PST
by
Texas resident
(The democrat party will destroy our country and they think it won't affect them.)
To: TigerClaws
Everybody, including the companies here will collapse years before the Saudi’s.
Back in 74 they used their reserves to increase the profit to far above production costs. Today they are using the profit accumulated over those years to crush any competition.
The Saudi’s can withstand 8 buck oil. nobody else can.
To: montanajoe
But when the price goes back up (and it will), what stops our domestic wells from pumping again? Don’t have to transport domestic crude from middle east, so it will still be cheaper.
19
posted on
01/12/2016 8:53:16 PM PST
by
r_barton
Still trying to figure it out. So $100 oil had $3.75 gas here in Reno, but at $30 the gas station directly across the street from the bar I am drinking at right now is $2.69 for 87.
20
posted on
01/12/2016 8:57:56 PM PST
by
dsrtsage
(One half of all people have below average IQ. In the US the number is 54%)
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