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Gasoline isl Gasoline has always been cheap in the US. It still is.
They have sold very little oil to the US in the past 15 years. They are our oldest Ally in the region. They have never been on the dole for foreign aid. 40,000 Americans live and work there. And, they buy lots of US goods and services. South Carolina has 250 thousand jobs dependent on their market.
Historically OPEC oil is a dollar cheaper. We have the highest production costs in the world.They don't need to sell oil in the US.
OPEC is a cartel, they work together to control oil prices. If the US has allies like Saudi Arabia, or gets rid of the ones who don't like the US, like Iran (sanctions), Iraq (invasion), Libya (bombing) and Venezuela (sanctions) as a power base, then OPEC finds it a lot harder to control oil prices. Which then means the US sells oil to its people for cheaper, and is happier.
Historically OPEC oil is a dollar cheaper. We have the highest production costs in the world.
See your post #123.We're not talking about production costs.
See your post #123.
Nope. Oil prices are based on market demand. OPEC production costs are less. If they increase supply the US sells at a dollar more.Well, that's YOUR POST. But anyway, what I wrote in #122 doesn't have anything to do with production costs. Oil prices are generally global. OPEC is the largest cartel and they can set oil prices more or less at a whim if they so choose. That their production costs are lower just means they can earn more profit and set prices lower if they choose.
Nope. Oil prices are based on market demand. OPEC production costs are less. If they increase supply the US sells at a dollar more.
Saudi is producing 11 million bpd. They don't have any spare capacity now. In fact they told the US that they were no longer our swing producer a couple of years ago.There is an aspect of demand. But OPEC can reduce production which increases demand which increases production. Or they can flood the market and reduce prices.
Because OPEC produces
List of countries by oil production - Wikipedia
en.wikipedia.org
76 million barrels a day produced.
9 million for the Saudis, 4 million for Iraq, 3 million for the UAE, 2.5 for Iran, 2.5 for Kuwait, 1.7 for Nigeria, 1 for Angola, 1 for Algeria. That's 25 million, or 1/3rd of all oil production. That's 2.5 times more than the US, which is number one for a country. OPEC has way more capacity, but doesn't pump it out as much because it wants higher prices.
Saudi is producing 11 million bpd. They don't have any spare capacity now. In fact they told the US that they were no longer our swing producer a couple of years ago.
Will Biden call for sanctions against SA? I mean after he's revived from his medically induced coma so can appear in public for 2 hours every third day"The government of Saudi Arabia has executed 81 people—including seven Yemenis and a Syrian national—over the past 24 hours in what is believed to be the largest mass execution in the kingdom's history."
Remember, Saudi Arabia was the 1st international visit for the former president. His son in law Jared has financial ties with SA.
Nice friends for those who overlook how brutal and backwards they all are.
'Brutal display of impunity': Saudi regime executes 81 people in single day
The government of Saudi Arabia has executed 81 people—including seven Yemenis and a Syrian national—over the past 24 hours in what is believed to be the largest mass execution in the kingdom's history.Citing the country's interior ministry, the Wall Street Journal reported Saturday that most of...www.rawstory.com
SA is south Africa.Will Biden call for sanctions against SA? I mean after he's revived from his medically induced coma so can appear in public for 2 hours every third day
Yeah, sure. Avoid answeringSA is south Africa.
KSA doesn't currently have any spare capacity. Why not punish WTI or Brent or Canada?Yeah, sure. Avoid answering
So now you're a spokesman for Saudi Aramco?There is an aspect of demand. But OPEC can reduce production which increases demand which increases production. Or they can flood the market and reduce prices.
Because OPEC produces
List of countries by oil production - Wikipedia
76 million barrels a day produced.
9 million for the Saudis, 4 million for Iraq, 3 million for the UAE, 2.5 for Iran, 2.5 for Kuwait, 1.7 for Nigeria, 1 for Angola, 1 for Algeria. That's 25 million, or 1/3rd of all oil production. That's 2.5 times more than the US, which is number one for a country. OPEC has way more capacity, but doesn't pump it out as much because it wants higher prices.
So no sanctions on Saudis.KSA doesn't currently have any spare capacity. Why not punish WTI or Brent or Canada?
"The government of Saudi Arabia has executed 81 people—including seven Yemenis and a Syrian national—over the past 24 hours in what is believed to be the largest mass execution in the kingdom's history."
Remember, Saudi Arabia was the 1st international visit for the former president. His son in law Jared has financial ties with SA.
Nice friends for those who overlook how brutal and backwards they all are.
'Brutal display of impunity': Saudi regime executes 81 people in single day
The government of Saudi Arabia has executed 81 people—including seven Yemenis and a Syrian national—over the past 24 hours in what is believed to be the largest mass execution in the kingdom's history.Citing the country's interior ministry, the Wall Street Journal reported Saturday that most of...
smartagain.org
Look at their track record over the past 75 years? What exactly would you sanction the Saudis for? Did they perpetrate the Lavon Affair or the attack on the USS liberty or the Suez crisis? They have never been been on dole for US foreign aid.So no sanctions on Saudis.
Interesting
Ummmmmmm, Biden's advisors told Biden not to get out the way he did because the Taliban would quickly take over and Biden ignored them and went ahead and did it anyway.LOL Yeah because he "knows more about war than the generals do, right? He's a coward and a phony. General Bone Spurs! Well, Taliban, you've really done it now! You've gone and forced the greatest military mind in the history of the world to sue you!! "Go get 'em Rudy!"
