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View Full Version : Low Gas Prices ~ Saudi Arabian reaction to Drill Baby Drill ?



exotix
11-04-2014, 09:01 AM
Today


Oil hits four-year low near $82 a Barrel after Saudi Arabia cuts U.S. prices

http://www.cnbc.com/id/102148210#.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11207301/Brent-crude-tumbles-as-Saudi-escalates-Opec-oil-price-war.html

Brent crude tumbles as Saudi escalates Opec oil price war

Daniel Ang of Phillip Futures said in a note that the move "signalled Saudi Arabia's intention to fight for U.S. market share and could even show its intention to squeeze U.S. shale producers".

But analysts at JBC Energy wrote that the pricing reflected market fundamentals and did not have a political motive.

The absence of signs that the Organization of the Petroleum Exporting Countries (http://video.cnbc.com/gallery/?video=3000326460) could curb output in a well supplied market also continued to weigh on sentiment.

The oil cartel will meet on Nov. 27 in Vienna to discuss its output targets for next year.

Members Venezuela and Ecuador are working on a joint proposal to defend oil prices, but the United Arab Emirates oil minister said the group is "not panicking."



Fracking Boom coming to an end ?

http://www.businessinsider.com/energy-companies-making-up-high-yield-bonds-2014-10


Crashing Oil Prices Could Bring The US Fracking Boom To A Sudden And Disastrous End



http://static4.businessinsider.com/image/5457de94ecad04b70fc30347-1200-900/cotd-high-yield-energy.jpg

Common
11-04-2014, 09:24 AM
I hope they battle it down to 50cts a gallon :) boost the economy right up. Most everything is tied to the big oil pigs.
<I know that will get Chris all beside himself>

Cigar
11-04-2014, 11:07 AM
The GOP sure has been quiet about Gas Prices :grin:

Peter1469
11-04-2014, 11:56 AM
For a real analysis on oil prices see this (http://www.stratfor.com/analysis/lower-oil-prices-carry-geopolitical-consequences#axzz3I7U27WON).


Since mid-June, the price of Brent crude oil has fallen by nearly 25 percent -- going from a high of $115 to about $87 a barrel -- and structural factors are causing concern among global oil producers that oil prices will remain near current levels through at least the end of 2015. This concern has caused several investment banks to slash their oil price outlooks for the immediate future. Stratfor believes that oil supplies will stay high as energy production in North America increases and OPEC countries remain hesitant or unable to cut production significantly. Moreover, in the short term, the Chinese economic slowdown (http://www.stratfor.com/topics/economics-and-finance/chinas-economy) and stagnant European economy (http://www.stratfor.com/topics/economics-and-finance/europes-economic-crisis) will limit the potential for growth in oil demand. These factors could make it harder for global oil prices to rebound to their previous levels.


Read more: Lower Oil Prices Carry Geopolitical Consequences | Stratfor (http://www.stratfor.com/analysis/lower-oil-prices-carry-geopolitical-consequences#ixzz3I7UFEL00)
Follow us: @stratfor on Twitter (http://ec.tynt.com/b/rw?id=dKd9f6JQur37hqadbi-bpO&u=stratfor) | Stratfor on Facebook (http://ec.tynt.com/b/rf?id=dKd9f6JQur37hqadbi-bpO&u=Stratfor)

Green Arrow
11-04-2014, 12:00 PM
From what I've read, they are supposed to go back up after the new year. I'm cool with that, so long as they stay low like this until I get all my travelling out of the way :tongue:

Cigar
11-04-2014, 12:04 PM
From what I've read, they are supposed to go back up after the new year. I'm cool with that, so long as they stay low like this until I get all my travelling out of the way :tongue:

Is that from the same person who said Obama coming to get your Guns and there will be $6.00 Gas?

Who is this Mysterious Fortune Teller?

PolWatch
11-04-2014, 12:06 PM
who ever, why, I don't care! $2.63 yesterday in south Mississippi! Even hubby's F250 is smiling!

Mister D
11-04-2014, 12:06 PM
Is that from the same person who said Obama coming to get your Guns and there will be $6.00 Gas?

Who is this Mysterious Fortune Teller?

Good question. Last time I asked you had no idea. :laugh:

Green Arrow
11-04-2014, 12:10 PM
Is that from the same person who said Obama coming to get your Guns and there will be $6.00 Gas?

Who is this Mysterious Fortune Teller?

Cigar, the president has absolutely zero control over gas prices. Gas companies and oil cartels like OPEC control gas prices. You do not need to cheerlead for President Obama on this issue. Gas could go to $6.00 and it wouldn't be Obama's fault any more than gas at $2.59 here is to his credit. Unless the President also controls OPEC (he doesn't), he has nothing to do with gas prices.

You with me?

Cigar
11-04-2014, 12:11 PM
Good question. Last time I asked you had no idea. :laugh:

No the last time I ask "YOU" had no idea :laugh:

Keep Fishing sport

Mister D
11-04-2014, 12:13 PM
No the last time I ask "YOU" had no idea :laugh:

Keep Fishing sport

You keep talking about him. Who is this guy? :grin:

Captain Obvious
11-04-2014, 12:13 PM
No the last time I ask "YOU" had no idea :laugh:

Keep Fishing sport

Here - we'll try this again.

Who on tPF was claiming we were hitting $6/gal gas?

Here, let me save you the trouble. BACK TO BLACK!

Captain Obvious
11-04-2014, 12:14 PM
You keep talking about him. Who is this guy? :grin:

http://dissociatedpress.com/wp-content/uploads/2010/10/unknown-comic-500.jpg

exotix
11-04-2014, 12:21 PM
who ever, why, I don't care! $2.63 yesterday in south Mississippi! Even hubby's F250 is smiling!
What about your American (domestic) Drill Baby Drill brethren ?

Certainly you're upset about the *un-friendly* markets eating away at their profits ?

Yes ?

PolWatch
11-04-2014, 12:23 PM
What about your American (domestic) Drill Baby Drill brethren ?

Certainly you're upset about the *un-friendly* markets eating away at their profits ?

Yes ?

nope, cause I'm a selfish, self-interested b***h....with those qualifications, maybe I oughta go into politics?

Captain Obvious
11-04-2014, 12:24 PM
nope, cause I'm a selfish, self-interested b***h....with those qualifications, maybe I oughta go into politics?

blech?