What is happening with the Oil price?
Why has it happened and when will it go back up?
>>70527111
It's a good thing. Oil has been propped up too long by speculation and by the OPEC cartel.
We are net oil consumers, and most net oil producers are shithole countries that I'd love to see collapse into oblivion (Saudi Arabia, etc.).
>>70527289
But we need oil for literally eerything.
Invest in oil if Hillary wins.
OPEC are trying to monopolise the oil industry.
>>70527289
Not a good thing. Half the reason those Saudi fucks are doing it is to kill our new domestic natural gas industry. The other half is to squeeze Iran's oil revenue after the sanctions were lifted.
Expect OPEC to be as strong as they were if not stronger by the time those two objectives are complete.
>>70527111
>Central banks, especially the Fed propped up asset prices via QE and ZIRP.
>Oil companies took on a lot of debt at super low interest rates to ramp up production.
>The Saudis have also said "fuck you, we're not cutting production."
>The Fed pulled one leg, namely QE, out from the price support.
>Interest rates for oil companies to borrow have gone up.
>Saudi Arabia is still saying "fuck you, we're not cutting production."
>Less financial meddling means that prices have gone down.
You need to note that the current price has nothing to do with what it actually costs to produce oil or anything like that. It has more to do with the aftermath of the Fed stopping QE3 and everybody pumping oil as fast as they can. The current price isn't too bad for consumers, but it is too low for a lot of producers.
That feel when work in the Oil indudstry and had to return to onshore work.
No more Thailand for me.
>>70527770
Saudis are going to keep the same level of production?
>>70528178
I see no reason that they'll voluntarily stop. Whether they'll be able to keep it up is another matter. Social benefits in Saudi come from oil revenues. If they're not careful, they'll get an Arab Spring themselves.
>>70528178
Until domestic fossil fuel operations in north america are shuttered because they can't compete, and long enough to make Iran hurt for teh lulz.
Then when we end up in a situation where it would take us years and large investments to get domestic operations running again, then they'll cut back production.
Around OPEC never hold your dick out.
>>70528457
How do we solve the OPEC problem?
>>70528554
Design a new series of nuclear reactors that has a complete fuel cycle and build a fuckload of them while developing the technology to use that energy to manufacture liquid fuels. Or we just wait until oil extraction costs are so high that we cannot support our current global economy, watch their shit crash and burn with ours, and sit back smug with the knowledge that as bad as our shit is, they're running around the desert on camels starving to death and beheading one another.
>>70529106
>they're running around the desert on camels starving to death and beheading one another.
Banter.
It's election year, it'll stay low until the reigning regime is ousted and will rise after the next one takes office.
>>70527111
We are dependent on foreign oil to allow America a surplus of oil. Even though, we have for times like these, websrent using it due to Obama's agenda.
The Saudis flooded the market with cheap oil causing the oilfield in many 1st world countries to lose work.
This was only done to weaken us.
>>70528554
Destroy it. Aquire Saudi Arabia through any means necessary. Steal their resources.
America should use its own oil and make the oil in Saudi Arabia expendable.
But noooo, we have to compromise and be diplomatic
>>70528344
>Whether they'll be able to keep it up is another matter.
They are injecting 6 million barrels of seawater a day into their elephant field now. If they stop the field collapses. Enhanced recovery, fracking, tar goo, heavy oil production will ramp up again but only to a point, when EROEI goes less than 1 it will compound problems. Combined with the AGW-hydrocarbon taxation schemes and extreme environmental laws being implemented in the west, it will basically be the fall of civilization in the west as the 21st century progresses. in the years ahead you will see anarchy, revolution, totalitarian states, resource wars, die offs, famine, disease, rise of occult controlled pop religion...pretty much a new age dark ages. Saudi Arabia has built castles in the sand, a temporary empire if there ever was one.
>>70532132
All that for the sake of mere ideology and agenda.
This is why leftists are cancer.
they will do anything they can to make Obama not appear as a failure
They are printing money faster than I can type and the debt keeps growing while the stock market doesn't seem to notice. The wealthy get wealthier and the middle class is being decimated
>>70531767
You're fucking retarded
>>70527111
Oil prices dropped because Fracking became much safer, ergo less liability, ergo more investors, ergo more companies using the fracking method, ergo more oil, ergo lower oil prices. It really is that fucking simple.
Foreign countries are still producing the same amount of fucking oil, if not, less due to America's famed fracking method. America produces 90% of it's own energy, the other 10% comes directly from Canada and no where else. Oil production and Instability in the middle east are not variables you shit heads, they're constants in the equation.
Oil prices will go back up when there is either less oil to sell, or the demand for oil increases.
>>70533288
>calls me a fucking moron and tries to explain shit.
You didn't even explain anything. You attempted to, but didn't.
The Saudis are releasing cheap oil you dumb fuck, we didn't just lower the price in gas for no fucking reason you simple little fuck.
Don't talk if you don't know shit
>>70533288
>it's because of fracking!
Holy fucking shit you're a god dam retard.
>>70533479
>United states oil production has doubled in past several years
This dumbshit thinks it's saudi arabia. How about you kill yourself loser.
>>70533479
I guess you were right anon, look at these insane spikes in saudi oil production
>>70531905
be patience, we're already on the early stage of the programming, see
>>>70527906
freedom and democracy coming soon.
expect more saudi arabia uncover material.
i.e. yesterday 28 pages report etc
>>70533809
If you're really that fucking stupid, I'll tell you I'm being sarcastic, there oil production has barely gone anywhere in 25 years. As I previously stated. Kill yourself.
Cheap oil is unequivocally a good thing.
Cheaper oil now means more use, and when the supply goes down the price will skyrocket again.
Hopefully the price increase is so huge we will move closer to reneweable shit so we don't have a fake reason to be friends with saudi arabia or prop up our own domestic oil monkeys.
>>70533668
>>70533809
>it's fracking and other alternatives that make oil expensive hurrrrrr durrr that's why we have it so cheap now hurrrrrr
>the Saudis have nothing do to with it even though we are dependent on their oil hurrrrrr hurrrrrr
>hahahahaha seee look at this graph, this shows that they have a lot because of us fracking hahahha hurrrr
Damn dude. I feel sorry for you because you want to appear as if you know what you're talking about but you don't. You look so stupid.
Will we see mostly renewable energy in our lifetime?
By 2050, will we have electric cars capable of traveling across country and back and never needing charged?
>>70535031
The only reason we have renewable energy now is because of insane government subsidies.
Everything in this world is made with oil.
The electric cars themselves will be made by oil.
We all need oil and nothing will change.
>>70535336
This.
The only reason alternatives even exist are because of federal subsidiaries. The right controls most of the industries with oil, steel etc. Which is why the left pushes global warming for you to buy all kinds of eco-friendly stuff (which is better, but not needed) and to support energy alternatives. The left can control this.
They are pretty much forcing us to accept lesser standards in life with alternative energy so they can defeat the right and all her capitalistic might. All for mere ideology.
