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Thread: Saudi prince: $100-a-barrel oil 'never' again

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by justabubba View Post
    try it again:
    Quote Originally Posted by Luftwaffe View Post
    The oil companies are scared, unable to evolve.

    Old super successful companies are almost destined to be reluctant to change. Especially when you start talking about the oldest monopolistic companies like oil companies.

    These companies will actively spend a lot of resources to fight any sort of change.

    It's like an old diseased animal being kept alive just on life support.
    Deal with it, that is my answer to the question, and the question is not restated.
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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by Luftwaffe View Post
    Deal with it, that is my answer to the question, and the question is not restated.
    here is your "answer" to my question why do you not flip off the saudis now:
    Quote Originally Posted by Luftwaffe View Post
    The oil companies are scared, unable to evolve.

    Old super successful companies are almost destined to be reluctant to change. Especially when you start talking about the oldest monopolistic companies like oil companies.

    These companies will actively spend a lot of resources to fight any sort of change.

    It's like an old diseased animal being kept alive just on life support.
    you referred to me as a simpleton, which must explain why i do not find your answer responsive to the question
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by justabubba View Post
    here is your "answer" to my question why do you not flip off the saudis now:


    you referred to me as a simpleton, which must explain why i do not find your answer responsive to the question
    "answer"

    It's an answer, whether you like it or not, as to why we aren't flipping the Saudis the finger.

    The oil tycoons have too much to lose to do such a thing (there, I condensed my original exposition by a considerable amount, do you get it now?) and don't want to change.
    -----MOS 19D = cavalry scout = best damn MOS there is

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by Dittohead not! View Post
    Unless we're using petroleum to generate electricity, going back to coal isn't going to help much is it?
    1% is 1%

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Of interest in the article was this

    Because the minister of oil in Saudi Arabia just in July publicly said $100 is a good price for consumers and producers. And less than six months later, the price of oil collapses 50%.
    So as recently as July of this year, they have one position. Then all of a sudden, after a September meeting with John Kerry, the Saudis start driving down the price of oil causing oil prices to spiral downward. Amazing.

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by MildSteel View Post
    Of interest in the article was this



    So as recently as July of this year, they have one position. Then all of a sudden, after a September meeting with John Kerry, the Saudis start driving down the price of oil causing oil prices to spiral downward. Amazing.
    I think the drop in oil is a power play.

    Russians are dependant on oil money, and as the world's largest producer at the moment, cutting oil price belse the cost of production has threatened their economy.

    The us gets hurt by this overall because many small producers don't have near infinite sums of money, but will barely touch the big guys.

    Let's not forget either that this "glut" of oil reflects just an extra day or two of world consumption and so the price could jump back relatively quickly... If it's desired.

    Final note, cartels are good only for the members of the cartel, any benefit to the "customer" of a cartel is coincidental.

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by BmanMcfly View Post
    I think the drop in oil is a power play.

    Russians are dependant on oil money, and as the world's largest producer at the moment, cutting oil price belse the cost of production has threatened their economy.

    The us gets hurt by this overall because many small producers don't have near infinite sums of money, but will barely touch the big guys.

    Let's not forget either that this "glut" of oil reflects just an extra day or two of world consumption and so the price could jump back relatively quickly... If it's desired.

    Final note, cartels are good only for the members of the cartel, any benefit to the "customer" of a cartel is coincidental.
    Though it will inflict some damage, it will not be a fatal blow for the big guys. I was talking to a person who has an executive position in the oil industry last month and he told me that the major players see it as an opportunity to get some of the minor ones out of the market.

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    They made their money, now our leadership wants to tax it back up to where we are used to paying.

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by Luftwaffe View Post
    We need to grow some balls and start investing heavily into alternative energies.

    The second we become independent of oil is the second we can flip all the insignificant sand fleas the finger.
    Find something as efficient as oil, and you'll be gold. The transportability, producability and energy density of oil is difficult to beat. That's why it's still around, and partly because a well oiled (no pun intended) infrastructure has been around for it.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by MildSteel View Post
    Though it will inflict some damage, it will not be a fatal blow for the big guys. I was talking to a person who has an executive position in the oil industry last month and he told me that the major players see it as an opportunity to get some of the minor ones out of the market.
    Exactly my point.

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