>>7517
Barely news. ZH isn't a good source, you can't spell decaying, and your pseudoapocaplyptic phrase is meaningless.

Some economies (hello Arabia) do rely way too much on oil, but this isn't going to hurt the west. The take home from oil prices freakyness since the 2005 fake-peak, is that peak oil isn't a worry at all. Supply does increase with price, and alternatives are more and more outcompeting it. The falling price mostly reflects ample supply & alt options, unless you work in oil, you don't need to worry.

>>7545
Most of the "nice" places in South America rely on exporting oil.

>>7517
Your heart is in the right place, but your execution is poor.

Here's a better article.

http://www.ft.com/cms/s/0/768a1622-9dba-11e5-8ce1-f6219b685d74.html#axzz3tpxGdLj2

>long-term forecast price cut from $55 to $50
>concern over global oil storage capacity soon reaching its limit
>Russian oil production at a record high and trending up
>OPEC not getting along

Abandon hope, new wells are being tapped as I type.

>>7545
>Barely news. ZH isn't a good source, you can't spell decaying, and your pseudoapocaplyptic phrase is meaningless.
at least OP's pic is nce

>>7517
>we don't have enough oil! it's a catastrophe!
>we have too much oil! it's a catastrophe!

Yeah, whatever. Bye.

>>7574
>The United States will never put an embargo on Saudi Arabia and OPEC for flooding the market trying to crash the shale industry.

>>7877
it's like you hate the free market or something. saudi oil is cheaper. u mad?

>>7885
Free market is as impossible as communism.

>>7892
that doesnt address why you (stupidly) want to place an "embargo" on OPEC. i put embargo in quotations because i don't think you know what embargo means.

>>7895
Who run barter town?

Let's not shit up a potentially good board with junk like zero hedge. Every economic fall back is the end of the world for them.

Anyways, it's not too surprising, especially as more countries are actually making efforts to diversify their energy industry, and Saudi Arabia continues it's attempts to destroy oil industry in competing nations. Large oil exporting countries like Russia, Iran and Venezuela should be working on diversifying their exports and their energy industries right now because it's not profitable to sell when countries like Saudi Arabia are artificially bringing the price down.

>>7895
Because they are threatening our oil supply by intentionally disrupting the supply and demand in order to control a monopoly on oil. Fuck that shit.

>>8027

yeah, but it can't maintain the stalemate. the out of work youth will all be brainwashed into being violent fundamentalist terrorists, apparently.

(seriously, what the FUCK is in their water..)

http://www.businessinsider.com/citi-saudi-arabia-wont-win-this-oil-standoff-2014-11?op=1

Due to a surge in post Arab Spring spending, we believe that the Saudi government actually needs oil prices north of $100 a barrel in order to balance its budget, and if Brent prices remain in the $80s, it will be forced to run a deficit ... A significant portion of the new social spending has also been aimed at keeping Saudi’s large youth cohort occupied and away from extremist groups ... In the wake of the 2003 terrorist attacks in Riyadh carried out by nationals, King Abdullah identified youth unemployment as the country’s number one national security challenge ... We maintain that the King would not sacrifice domestic and regional stability in order to punish Iran and Russia or bankrupt US shale producers.