What's with the low oil prices?

[Freewill]

As the price for oil approaches 50 dollars a barrel what do you think is up?

The Oil cartel could cut production as they have in the past to maintain prices but have not. They are sitting on a pile of gold so it is not like it would hurt them.

Could it be to hurt fracking? Which I have heard there is now no where to store more gas in the US.

Or could it be to bankrupt Russia? To destroy their oil industry and if so what do you think Putin might do?

 

[BluesLegend]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

 

[The Rabbi]

Its because President Obama loves us and wants what's best so he's cutting oil prices to give us all a break at this blessed season.


No, actually declining worldwide demand (recessions as far as the eye can see) combined with enormous oil production out of the US have led to a glut of supply over demand.

 

[nodoginnafight]

It's OBAMA'S FAULT ......

Oh wait

 

[The Rabbi]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

They lie just because that's who they are.

 

[Siete]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

like a fly buzzing around a horses ass ... was that an answer or some other babbling offered as an answer?

 

[The Rabbi]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

like a fly buzzing around a horses ass ... was that an answer or some other babbling offered as an answer?

If you cant tell maybe an adult can help you.
I have to say you contribute absolutely nothing to this board. Your attempts at snark reveal what a shallow low life low information nudnik you are.

 

[Toddsterpatriot]

As the price for oil approaches 50 dollars a barrel what do you think is up?

The Oil cartel could cut production as they have in the past to maintain prices but have not. They are sitting on a pile of gold so it is not like it would hurt them.

Could it be to hurt fracking? Which I have heard there is now no where to store more gas in the US.

Or could it be to bankrupt Russia? To destroy their oil industry and if so what do you think Putin might do?

American ingenuity, in spite of all the road blocks thrown up by Obama, combined with a weaker economy in Europe, has pushed supply up faster than demand.

They are sitting on a pile of gold so it is not like it would hurt them.

It will hurt them. Iran,Venezuela and Russia can't stand a small drop, this huge drop will crusth them.

Could it be to hurt fracking?

Yes and to hurt Iran.

what do you think Putin might do?

Putin be poutin'.

 

[BluesLegend]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

like a fly buzzing around a horses ass ... was that an answer or some other babbling offered as an answer?

I'm not surprised it was over your head.

 

[g5000]

Most likely, Saudi Arabia is trying to hurt Russia. Russia backs Syria and Iran, and also backs the invasion of the Ukraine.

Our Secretary of State visited Saudi Arabia earlier this year. This is probably being done at our behest.

 

[Moonglow]

Or.It could be that over production has increased the glut of oil waiting to be used?

 

[bigrebnc1775]

As the price for oil approaches 50 dollars a barrel what do you think is up?

The Oil cartel could cut production as they have in the past to maintain prices but have not. They are sitting on a pile of gold so it is not like it would hurt them.

Could it be to hurt fracking? Which I have heard there is now no where to store more gas in the US.

Or could it be to bankrupt Russia? To destroy their oil industry and if so what do you think Putin might do?

low demand mean a bad economy is coming.

 

[Siete]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

like a fly buzzing around a horses ass ... was that an answer or some other babbling offered as an answer?

I'm not surprised it was over your head.

your jibberish isn't over any bodys head ... not even worms.

 

[JakeStarkey]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

Actually it was BluesLegend who said they said it. Hint: no proof.

 

[JakeStarkey]

Its because President Obama loves us and wants what's best so he's cutting oil prices to give us all a break at this blessed season.


No, actually declining worldwide demand (recessions as far as the eye can see) combined with enormous oil production out of the US have led to a glut of supply over demand.

The Rabbis is giving the president the credit for creating the wonderful energy situation for America.

The Rabbi is a Liberal now!

 

[Baruch Menachem]

Do the Saudis have a large cash reserve? I thought the spent it as they got it.

 

[JakeStarkey]

OPEC is not cutting prices because it wants to maintain its market share.

The low prices are hurting Russia as China, India, and Brazil cut back on industrialization as recessions are hurting their economies.

 

[JakeStarkey]

Once again I called it right. I liquidated some funds that would be a burden in the market and have them ready for investment in rental property here in the city and valley. I think we will be in a recession through most of next year.

 

[SwimExpert]

OPEC is trying to drive production in the U.S. down by making it unprofitable, the bunch of dumb asses don't seem to realize the U.S. will come roaring right back when prices increase.

Actually, their real miscalculation is the fact that fracking is no longer as expensive as OPEC thinks. The plan is not to simply drop the price as if reaching for a magic button. The goal is to drive these American based producers into bankruptcy so that they dissolve completely and can't come back later. But they seem to think that current oil prices will accomplish that, which they won't.

By the way idiot liberals were wrong again, only 6 years ago they claimed it would be 10 or 15 years before an increase in oil production would lower the price of gas. Or they were lying again its getting hard to tell anymore with that lot.

To be fair, their predictions were based on the premise that OPEC would reduce production in order to maintain favorable oil prices. What OPEC is doing right now is a gambit, and honestly it's a foolish one. Saudi Arabia can weather it for some time. But each day that goes by is another day when most other OPEC nations are falling farther into the red. I don't think it will be very long before OPEC is forced to reduce production. Either that, or dissolve from the inside.

 

[OnePercenter]

It's the Saudis hurting Putin. PERIOD.

It's the Saudis that are sitting 'on a pile of gold,' TRILLIONS WORTH.

It costs $10.00 to produce a barrel of oil, so there's plenty of room to make money.