What about Iran?
This could take down the Mullahs and it might be the real target for this Saudi action.
Ahhhh...time to fill up the gas tanks....
The timing of this is sure interesting.
Rush just talked about this in the first hour today.
Guess I'm getting old.
I remember when this would have been good news.
Of you can’t refine it.........
How soon before pump prices go down? In an oil crisis they couldn’t go up fast enough.
The agreement between Russia and OPEC ended this month anyway. What is being reported is actually the failure of a future agreement.
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Russia is desperate for money. They want into European sales that the past agreement limited.
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Our domestic oil production is soaring, offering competition that OPEC has never seen.
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Our domestic producers need about $34 barrels to break even, fracking is not as cheap as it seems.
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The big losers will be Iran, Mexico, and the S Americans because they don’t have many refineries to sell finished product.
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We could well see $1 gas.
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The other driver is the dramatically lowered demand by the Chinese, they are really hurting for business and travel. So there is a glut + increased production.
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The Saudi’s and their neighbors still make money at $19 oil.
they must have plunged- our gas dropped a whole cent this week- $2.83- yippie- it’s almost affordable now- We were $2.85 all winter long- no fluctuation at all- months- now we dropped 2 whole cents this month- what am i ever gonna do with all that extra money savings?
oil prices l=plunge, gas prices take weeks to drop around here- but oil prices go up and gas prices almost beat them to the punch by rising 5 cents, 10 cents etc- immediately-
At $33 a barrel, shouldn’t gasoline prices be down to under $2.00? Seems i remember way back when oil was around $2 barrel, and gas was around $1.70-.80 or so? We’re still at $2.83 right now
So why do we call Saudi Arabia an ally, train their pilots, and, even worse, are sending US troops there? They hate us and always have.
With the money we save on gas MSNBC is predicting we will save close to a million dollars a person.
If I was an airline company, I’d buy as many future contracts as I could, NOW.
Russians will cave by the end of the week and prices will be up to at least $40/bbl by the end of the week.