Saudi prince wants lower oil prices

Discussion in 'Energy' started by JimH52, May 30, 2011.

  1. JimH52
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    JimH52 Gold Member

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  2. uscitizen
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    uscitizen Senior Member

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    It must be that gigantico shale oil thing in Texas that has them worried!

    ;)
     
  3. JimH52
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    JimH52 Gold Member

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    :lol: I doubt that...:lol:
     
  4. percysunshine
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    percysunshine Gold Member

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    The Saudis shut down Venezuela in 1998 by over producing and driving the price down to $13. They did the same thing in 1986. If they really want to, they can.
     
  5. JiggsCasey
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    JiggsCasey VIP Member

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    bull.... shit....

    wow, is there an abundance of fail throughout this subforum this week.

    I'll be back to counter it when I have sufficient time. But supreme lawl to anyone insisting shale gas expansion will "take us away" from imported oil.
    :eusa_shhh:
     
  6. percysunshine
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    percysunshine Gold Member

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    Post in the Lame Zone.
     
  7. JiggsCasey
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    JiggsCasey VIP Member

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    Mmm-kay... sure will.. as soon as you provide an array of evidence that Saudi can just "pump more" on a whim. Not what they "used to do," but what they CAN do.

    Again, injecting sea water into your biggest fields in order to maintain pressure is a prime indicator your country may be at peak. Or past it.
     
  8. percysunshine
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    percysunshine Gold Member

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    'May be at peak' ?

    So now you are not so sure...hmmm
     
  9. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Interviews on TV won't lower the price of crude. Saudi Arabia is an OPEC Nation, if they want to pump more, they have to agree upon it at one of their meetings.
     
  10. KissMy
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    KissMy Free Breast Exam

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    "We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Saudi Prince Al-Waleed bin Talal

    He also said on CNBC that he wants to lower oil prices to $75 a barrel.

    The Oil Shale, Ethanol, Oil Sands, Shale Gas, GTL, LNG, CNG & Electric are eating into the Saudi Market Share of the USA Energy Consumption. Energy conservation is also playing a huge part.
     

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