Oil Plunge Raises Fears of Societal Unrest

[Freewill]

Does anyone know why the price of oil is so low? If I recall the left wing told us that increases in US oil production would not make a dent in world prices. So with all the SUVs and trucks I see on the road why has the price of oil dropped so much?

Oil Plunge Raises Fears of Societal Unrest

With Wall Street shops like Goldman Sachs (GS) and government officials in Venezuela signaling oil could go to the mid-$20 per barrel range next year, analysts at places like RBC Capital Markets have been warning that chronically low oil prices plunging towards seven-year lows means increasing social chaos in countries on the edge—including those battling ISIS.

Five countries are high on the radar screen for societal risks from low oil prices, which RBC Capital Markets has labeled the “Fragile Five.” They are Algeria, Iraq, Libya, Nigeria, and Venezuela. ISIS operatives are believed to be in most of these countries.

 

[CrusaderFrank]

global warming. has to be. nothing else fits the facts

 

[Pogo]

RBC's a bunch of crooks. But that's personal observation.

More or less oil slowed up because China did. That's oversimplified but a big part of it.

 

[my2¢]

 

[Freewill]

This is December and they are going lower. But thanks that shows that supply has far out stripped demand which is actually higher then it was in 2013. Funny, in the 70s they said we would be out of oil in the 90s.

 

[tyroneweaver]

Who know's why the price of oil has plunged.
One thing I do know is, obama has had nothing to do with it.

 

[my2¢]

The linked article reminded me that Saudi Arabia made stance not to limit production. Seems nobody wants to cut back and lose market share.
Scant signs of Russia-OPEC output cut deal ahead of Vienna meeting

 

[Lumpy 1]

Well, with the labor participation rate at a 38 yr. low (around 63%) and over 94,000,000 conveniently forgotten by Democrats and unemployed, I'm thinking there has to be an effect on oil prices.

 

[BluesLegend]

Democrats swore up and down that increasing supply would not lower gas prices...they were wrong again.

 

[ABikerSailor]

Who know's why the price of oil has plunged.
One thing I do know is, obama has had nothing to do with it.

Then why did you blame him when gas prices were at all time highs?

Jr. had gas prices at a pretty decent level (around 1.50 to 2.00/gal) when he took office. At one time, during the end of his 2nd term, they were at about 5.00/gal.

Obama inherited that mess, and under his administration, they have returned to what they were under Jr.

Why can't you give him at least a little credit for the good, when you are going to tie him to all the bad?

 

[tinydancer]

Wait till you see what's going to come at you. Libs have seized power in Canada again and worst yet the NDP hold power in Alberta. Thanks to your power brokers. I know who runs the Tides Foundation and works with Suzuki. Oh and all our lets buy an Indian Chief.

We've been your number one provider. Now the US is about to face a "we have to leave it in the ground/ or whatever we extract will pay a hefty price" government.

Needless to say we're cutting wood like crazy.

I've done primitive before. Looks like I have to do it again.

 

[LoneLaugher]

Something to fear? Good news for nutters.

Is demand for oil up or down?

 

[JakeStarkey]

Nutters are nutters, whether left or right.

Demand not only in China and India and Brazil is down but also in emerging markets.

Saudi Arabia will keep pumping in order to wreck Iran and Russia's economies and financial powers.

We are closing in on energy independence at the end of Obama's administration.

I read that some market experts think we may not see $100 a barrel in our lifetimes. That seems extreme, but there is absolutely no pressure to drastically increase prices.

 

[Claudette]

Does anyone know why the price of oil is so low? If I recall the left wing told us that increases in US oil production would not make a dent in world prices. So with all the SUVs and trucks I see on the road why has the price of oil dropped so much?

Oil Plunge Raises Fears of Societal Unrest

With Wall Street shops like Goldman Sachs (GS) and government officials in Venezuela signaling oil could go to the mid-$20 per barrel range next year, analysts at places like RBC Capital Markets have been warning that chronically low oil prices plunging towards seven-year lows means increasing social chaos in countries on the edge—including those battling ISIS.

Five countries are high on the radar screen for societal risks from low oil prices, which RBC Capital Markets has labeled the “Fragile Five.” They are Algeria, Iraq, Libya, Nigeria, and Venezuela. ISIS operatives are believed to be in most of these countries.

Domestic production is up via the bakken in North Dakota.

Not sure if that oil is for domestic consumption or not but production is up.

The price for ME oil is down to compete with our domestic production.

At least that's the way it was explained to me.

 

[Rexx Taylor]

if oil dips to 20.00 a barrel, does that mean the prostitution rates could also drop to 20.00hr? well, in some chitty areas of the USA i heard that the economy is so bad that the call girl rate has dipped below $3.00 hr.

 

[Freewill]

Who know's why the price of oil has plunged.
One thing I do know is, obama has had nothing to do with it.

Then why did you blame him when gas prices were at all time highs?

Jr. had gas prices at a pretty decent level (around 1.50 to 2.00/gal) when he took office. At one time, during the end of his 2nd term, they were at about 5.00/gal.

Obama inherited that mess, and under his administration, they have returned to what they were under Jr.

Why can't you give him at least a little credit for the good, when you are going to tie him to all the bad?

Not quite:

Obama started with them at around 2.50.

 

[tyroneweaver]

We have an ethanol plant here in Burley, idaho.
If gasoline drops below a certain level over a period of time the plant will have to shut down.

 

[Wildman]

...they were wrong again.

what have they ever been right about?

 

[Wildman]

Obama inherited that mess,

and made so much bigger it can no longer be called a "mess", it much closer to a major hazardous waste so big it will require many years of clean up.

 

[Moonglow]

The price of oil is also down because of the strong dollar..