BlindBoo
Diamond Member
- Sep 28, 2010
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In reality the target is us.
OPEC’s idea is to try to knock out U.S. shale producers by driving prices lower than they can afford. That way Saudi Arabia, the cartel’s biggest exporter, can keep its market share in the U.S.
Can the U.S. Fracking Boom Survive With Oil 65 Per Barrel - Businessweek
U.S. production probably will decrease, even if it takes a while. At $65 a barrel, it’s unlikely the U.S. can keep up its record-setting pace of expanding oil production. U.S. oil has jumped from about 5 million barrels a day in 2008 to more than 9 million. Even before OPEC’s decision, forecasters were calling for a slowdown. Last May, for instance, the Energy Information Agency forecast that total U.S. production would peak just shy of 10 million barrels per day before 2020.
Surely you remember the 80's and how OPEC destroyed much US Exploration.
Oil prices plunge U.S. energy defiant in oil war with OPEC - Dec. 2 2014
Party like it's 1986? OPEC appears to be taking a page out of its 1986 playbook, when Saudi Arabia abruptly ramped up production and sent prices tumbling. The strategy worked, forcing many oil drillers in Texas, Oklahoma, and Louisiana out of business and allowing the Saudis to clinch more market share.
"In reality the target is us."
7. "How Saudia Arabia’s Gift Of Plunging Oil PricesSaves Christmas Season"
Almost the only G-20 government that is behaving sensibly is that of Saudi Arabia. As the sun sets with agonizing dilatoriness on the Obama administration, there is no sign of a resurrection of fiscal sanity, of any concern to reform “Affordable Care,” or even of a desire to palliate the shambles of the justice system with its ancillary constabulary and custodial abuses (though African Americans are severely provoked). For what promised to be a transformatively reforming regime, the very tired incumbent has turned out to be one of history’s great underachievers,......
Were it not for the Saudi tanking of the oil price — which is not aimed at shale-oil exploitation, much less at the tide of Russophilic activity in Eastern Europe, but at Iran’s nuclear program and Iranian and Russian support for the palsied Assad regime in Syria and envenoming of Hamas and Hezbollah —"
How Saudia Arabia s Gift Of Plunging Oil Prices Saves Christmas Season - The New York Sun
"...aimed...at Iran’s nuclear program and Iranian and Russian support for the palsied Assad regime in Syria and envenoming of Hamas and Hezbollah —"
Get it now???
Everyone is entitled to their opinion.
They destroyed US Exportation once before and they are trying to do it again.