What's with the low oil prices?

[frigidweirdo]

What's with the low oil prices?

Obama is trying to crash the Russian economy.

Why not? He already fucked up ours.

What by having increased employment, productivity and everything else that points towards the positive?

That response explains your obtuseness. You're a lefty shill.
Obama's energy policy has kept our economy in the hole. Any ostensible improvement is offset by his damage. Two steps back, one step forward is not a net improvement.

Can you prove any of this? Or is it just more cheap words backed up with insults?

 

[frigidweirdo]

Yes, supply can impact demand, we've seen a massive rise in prices because China has developed massively in the last 14 years, and wants oil. However if you can't make money from extracting oil, why would you do it? Also if your company moves into a position where you think you might lose money, your share prices will go down, the viability of your business is at major risk, and if you actually start losing money, then you will go bankrupt. It's quite simple.

If OPEC push the price below what it costs, then what happens?

Cost is $10.00/bbl. Long way to go.

Er... no it isn't.

Maybe you need to research, not even in the Middle East where it's cheaper to get oil, is it $10 a barrel.

 

[Siete]

If OPEC push the price below what it costs, then what happens?

The cheapest gas prices in the world can be found in countries that are members of the Organization of the Petroleum Exporting Countries, OPEC: the aforementioned Venezuela as well as Iran, Saudi Arabia, Kuwait and Qatar. Iran’s average price per gallon of gas is $0.47, Saudi Arabia's is $0.78 per gallon, Kuwait's is $0.88 and Qatar's is $0.93. No other country breaks the sub-$1.00 per gallon mark.

so what does Saudi do?

builds the largest and most modern refinery in the USA so they can double dip our oil burning ass..

alt enegy ... it's that simple.

 

[Toddsterpatriot]

Which bank got in trouble in 2008 with derivatives?

Directly and indirectly, all of them.

Wrong.

 

[Siete]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

 

[Toddsterpatriot]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

If you want to install alternate energy, knock your socks off.
Do it without government handouts. And get rid of the mandates for ethanol and other renewables.
That's my RW logic.

 

[Siete]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

If you want to install alternate energy, knock your socks off.
Do it without government handouts. And get rid of the mandates for ethanol and other renewables.
That's my RW logic.

In the United States, credible estimates of annual fossil fuel subsidies range from $10 billion to $52 billion annually yet these don’t even include costs borne by taxpayers related to the climate, local environmental, and health impacts of the fossil fuel industry.

you have no logic, your hypocrisy blocks it. ...

It's always nice to see a corporation with a clearly non-American name on the list of the top companies that receive subsidies from American taxpayers, and Royal Dutch Shell certainly fits that bill. Through 66 different subsidies from over five different states — with most of that help coming from Pennsylvania — Royal Dutch Shell has managed to nab over $2 billion in subsidies since just 2003 alone ..

 

[Toddsterpatriot]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

If you want to install alternate energy, knock your socks off.
Do it without government handouts. And get rid of the mandates for ethanol and other renewables.
That's my RW logic.

In the United States, credible estimates of annual fossil fuel subsidies range from $10 billion to $52 billion annually yet these don’t even include costs borne by taxpayers related to the climate, local environmental, and health impacts of the fossil fuel industry.

you have no logic, your hypocrisy blocks it. ...

It's always nice to see a corporation with a clearly non-American name on the list of the top companies that receive subsidies from American taxpayers, and Royal Dutch Shell certainly fits that bill. Through 66 different subsidies from over five different states — with most of that help coming from Pennsylvania — Royal Dutch Shell has managed to nab over $2 billion in subsidies since just 2003 alone ..

credible estimates of annual fossil fuel subsidies

Yeah, if they include deducting business expenses, they aren't credible estimates, sorry.
Fossil fuels are heavily taxed in the US, not subsidized.
Unlike "green energy".

 

[OnePercenter]

The hole was created by CRA and the market doing its darwinistic thing. The current hole was started and is still maintained by democrat energy policy.

Total BULL SHIT. The hole was created by stupid actions by the SEC in allowing underfunded companies to buy others. BofA/Countrywide is a perfect example. Also, lack of policing by BushCo. ie; Bernie 'Made-off.' Nice try.

 

[OnePercenter]

Er... no it isn't.

Maybe you need to research, not even in the Middle East where it's cheaper to get oil, is it $10 a barrel.

Err....yes it is. Production vs. costs vs. profits tell me so.

 

[OnePercenter]

Wrong.

Name one.

 

[Synthaholic]

As the price for oil approaches 50 dollars a barrel what do you think is up?

The Oil cartel could cut production as they have in the past to maintain prices but have not. They are sitting on a pile of gold so it is not like it would hurt them.

Could it be to hurt fracking? Which I have heard there is now no where to store more gas in the US.

Or could it be to bankrupt Russia? To destroy their oil industry and if so what do you think Putin might do?

low demand mean a bad economy is coming.

Where are you pulling this 'low demand' out of - your ass?

Demand has never been stronger.

 

[Siete]

As the price for oil approaches 50 dollars a barrel what do you think is up?

The Oil cartel could cut production as they have in the past to maintain prices but have not. They are sitting on a pile of gold so it is not like it would hurt them.

Could it be to hurt fracking? Which I have heard there is now no where to store more gas in the US.

Or could it be to bankrupt Russia? To destroy their oil industry and if so what do you think Putin might do?

low demand mean a bad economy is coming.

Where are you pulling this 'low demand' out of - your ass?

Demand has never been stronger.

true ...

Lost in the shuffle of the European debt woes, a second round of quantitative easing and gold’s record run has been the resurgence in global demand for oil. Global oil demand is strong; in fact, it has never been stronger. Oil demand during the third quarter of this year was up 3.7 percent, the fourth-straight quarter of growth.

c/p ^^^^^^

and that's why RW's are idiots ... partisan talking points over facts.

 

[Siete]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

If you want to install alternate energy, knock your socks off.
Do it without government handouts. And get rid of the mandates for ethanol and other renewables.
That's my RW logic.

In the United States, credible estimates of annual fossil fuel subsidies range from $10 billion to $52 billion annually yet these don’t even include costs borne by taxpayers related to the climate, local environmental, and health impacts of the fossil fuel industry.

you have no logic, your hypocrisy blocks it. ...

It's always nice to see a corporation with a clearly non-American name on the list of the top companies that receive subsidies from American taxpayers, and Royal Dutch Shell certainly fits that bill. Through 66 different subsidies from over five different states — with most of that help coming from Pennsylvania — Royal Dutch Shell has managed to nab over $2 billion in subsidies since just 2003 alone ..

credible estimates of annual fossil fuel subsidies

Yeah, if they include deducting business expenses, they aren't credible estimates, sorry.
Fossil fuels are heavily taxed in the US, not subsidized.
Unlike "green energy".

huh? oil isn't subsidized?

you're so full of shit your eyes are brown .

you're too stupid for further comments from me.

 

[frigidweirdo]

Er... no it isn't.

Maybe you need to research, not even in the Middle East where it's cheaper to get oil, is it $10 a barrel.

Err....yes it is. Production vs. costs vs. profits tell me so.

What? You haven't got any statistics to tell you what the cost of extracting oil is.

How much does it cost to produce crude oil and natural gas - FAQ - U.S. Energy Information Administration EIA

$31 for onshore and $51 for offshore in the US.

$16 in the Middle East, and you're claiming $10.

 

[Toddsterpatriot]

Wrong.

Name one.

I've yet to see proof that derivatives caused any problems for any banks during the crash.

 

[Toddsterpatriot]

bitch about OPEC, bitch about oil and gas prices then make a strong stance against alt energy ... RW logic.

If you want to install alternate energy, knock your socks off.
Do it without government handouts. And get rid of the mandates for ethanol and other renewables.
That's my RW logic.

In the United States, credible estimates of annual fossil fuel subsidies range from $10 billion to $52 billion annually yet these don’t even include costs borne by taxpayers related to the climate, local environmental, and health impacts of the fossil fuel industry.

you have no logic, your hypocrisy blocks it. ...

It's always nice to see a corporation with a clearly non-American name on the list of the top companies that receive subsidies from American taxpayers, and Royal Dutch Shell certainly fits that bill. Through 66 different subsidies from over five different states — with most of that help coming from Pennsylvania — Royal Dutch Shell has managed to nab over $2 billion in subsidies since just 2003 alone ..

credible estimates of annual fossil fuel subsidies

Yeah, if they include deducting business expenses, they aren't credible estimates, sorry.
Fossil fuels are heavily taxed in the US, not subsidized.
Unlike "green energy".

huh? oil isn't subsidized?

you're so full of shit your eyes are brown .

you're too stupid for further comments from me.

Oil in the US is heavily taxed, not subsidized.
Run away now!

 

[OnePercenter]

What? You haven't got any statistics to tell you what the cost of extracting oil is.

How much does it cost to produce crude oil and natural gas - FAQ - U.S. Energy Information Administration EIA

$31 for onshore and $51 for offshore in the US.

$16 in the Middle East, and you're claiming $10.

Lifting costs are the only numbers relevant. Finding costs are amortized into lifting over the life of the well.

 

[frigidweirdo]

What? You haven't got any statistics to tell you what the cost of extracting oil is.

How much does it cost to produce crude oil and natural gas - FAQ - U.S. Energy Information Administration EIA

$31 for onshore and $51 for offshore in the US.

$16 in the Middle East, and you're claiming $10.

Lifting costs are the only numbers relevant. Finding costs are amortized into lifting over the life of the well.

It still has a massive impact for any company which is going to actually bother. It might not have an impact on current wells, but who's going to drill more wells and make a potential loss?

 

[OnePercenter]

It still has a massive impact for any company which is going to actually bother. It might not have an impact on current wells, but who's going to drill more wells and make a potential loss?

So $10.00/bbl.