What's with the low oil prices?

[boilermaker55]

OPEC isn't scared of $40 oil
OPEC isn t scared of 40 oil - Dec. 14 2014
OPEC won't rush to cut oil production even if prices fall as low as $40 per barrel, one of the cartel's members said Sunday.

 

[Siete]

it hit $57 today ...

 

[RoshawnMarkwees]

Nobody loses when supply forces the price down. People just buy more. Those who portray some sort of doom have an agenda. Economic expansion is the reward for low energy prices and that it only a bad thing to bad people.

 

[Siete]

OPEC = economic expansion.

 

[RoshawnMarkwees]

OPEC = economic expansion.

Not if OPEC becomes a smaller fish in a bigger pond.

 

[Siete]

OPEC = economic expansion.

Not if OPEC becomes a smaller fish in a bigger pond.

OPEC = economic expansion.

Not if OPEC becomes a smaller fish in a bigger pond.

whatchu been smokin' Willis ?

 

[RoshawnMarkwees]

OPEC = economic expansion.

Not if OPEC becomes a smaller fish in a bigger pond.

OPEC = economic expansion.

Not if OPEC becomes a smaller fish in a bigger pond.

whatchu been smokin' Willis ?

You have anything relating to the thread to add?

 

[Siete]

yeah, go have another hit on the bong and pretend you have a brain.

 

[nodoginnafight]

Siete - if you don't have any arguments against the posters points - just admit it. You won't look quite as silly.

 

[Siete]

Siete - if you don't have any arguments against the posters points - just admit it. You won't look quite as silly.

now that was silly ... maybe you should wait and read the thread before you start calling other people silly ... you DOPE.

 

[RoshawnMarkwees]

yeah, go have another hit on the bong and pretend you have a brain.

Now that you've responded with analysis, albeit again loaded with condescending disparagement, consider the change in that graph if oil production in this country expands even more than it already has. If it is allowed to expand to its potential.

 

[Siete]

OPEC owns 81% of the worlds oil supply, remind me how they can be little fish unless they decide to ..

OPEC = economic expansion ... just like I said.

 

[RoshawnMarkwees]

It's about the potential for the US to extract an amount that makes OPEC a smaller fraction. I thought I already made that clear.

 

[Siete]

It's about the potential for the US to extract an amount that makes OPEC a smaller fraction. I thought I already made that clear.

its about your conjecture ... nothing more.

Clear?

 

[RoshawnMarkwees]

It's about the potential for the US to extract an amount that makes OPEC a smaller fraction. I thought I already made that clear.

its about your conjecture ... nothing more.

Clear?

No, I rely upon the empirical. Like late 2008 into 2009. Like the 1980's through 2002.

 

[Siete]

last time I checked OPEC is the empirical data .. but whatever you say. Maybe a magic wand will appear and grant the rest of the world enough oil capable of being harvested to catch OPEC...

 

[Soggy in NOLA]

It's all Bush's fault.

 

[nodoginnafight]

It's all Bush's fault.

Nah .... it's BENGHAAAAAAAZIIIIIII

 

[RoshawnMarkwees]

last time I checked OPEC is the empirical data .. but whatever you say. Maybe a magic wand will appear and grant the rest of the world enough oil capable of being harvested to catch OPEC...

You need to do some research. We have more potential reserves than OPEC.
Then consider Bush's post-drilling-moratorium plans from late 2008/early2009, plans immediately scrapped by the current fascist-in-chief as the moratorium was reimposed.

 

[frigidweirdo]

You need to do some research. We have more potential reserves than OPEC.
Then consider Bush's post-drilling-moratorium plans from late 2008/early2009, plans immediately scrapped by the current fascist-in-chief as the moratorium was reimposed.

Potential supplies mean what?

For shale oil and gas to be extracted, it costs more. If costs go down OPEC may just see competitors go out of business because they can't afford to extract for the price that it is being sold at. Therefore OPEC goes back to having a far larger share of "potential" oil supplies, which are just what people are willing to produce.

You know the US is pissed, they can't attack the Saudis who are behind it, so they attack Venezuela and Iran instead. New sanctions against Venezuela only last week.