Saudi drone strike

Hoid

Hall of Fame Member
Oct 15, 2017
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Difficult to believe that half of Saudi oil production has been taken offline by drones. In fact I don't believe it.

This is just the Saudis manipulating the news and the markets, as usual.
 

Hoid

Hall of Fame Member
Oct 15, 2017
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So let's recap: leader of the world's oil cartel has been cutting back production to prop up the market due to the oil glut and suddenly is attacked by someone who miraculously managed to cut their production in half with some drones.

Also they could use a good excuse to escalate whatever asshat war they are involved in.

 

NZDoug

Council Member
Jul 18, 2017
1,894
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Big Bay, Awhitu, New Zealand
Our gas here in NZ will push $3/L. Kiwi or, $2.U.S. . in the Crude price goes to $ 100U.S.
Is it only when the U.S. military moves that international fuel prices go up?
How come oil didn't go up when Trump killed the Iran deal?
An easy solution to these problems would be to lift sanctions on Iran and Venezuela, and allow them to sell there oil just like everyone else.
 

Hoid

Hall of Fame Member
Oct 15, 2017
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the world makes far more oil than it needs

demand continues to decline and production continues to rise.
 

pgs

Hall of Fame Member
Nov 29, 2008
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B.C.
the world makes far more oil than it needs

demand continues to decline and production continues to rise.
Right . Keep telling yourself that . In fifty or so years you may be correct .
 

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
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actually the glut is due to man made rather than earth made oil.

shale production has permanently altered the oil supply picture
 

NZDoug

Council Member
Jul 18, 2017
1,894
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Big Bay, Awhitu, New Zealand
This "oil crisis" is totally manufactured by the U.S.
Now, America is “locked and loaded” to blow Iran away.
https://www.foxnews.com/politics/trump-saudi-arabia-attack-locked-loaded-iran
WTF?
I know, Bibi wants too get re-elected.
and form a U.S. military alliance, even though they get 3.8 billion a year now, that's $750 U.S. per minute.
And I have to pay 10cents a literals more to finance this crap...
Imagine the poor bastards living in Iran?
I pity them.
 

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
Care to explain why you cannot seal off those bore holes? Hint, it is the same reason for the big blowout in the GOM a few years ago.
 

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
Demand in that the devices that use oil and gas are a lot more efficient so the puddle will last 150 years rather than 100 years at the new rate.