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

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

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


    Some very interesting comments from this Saudi prince on oil.

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

    Hello,

    Frankly I'm in favor of lower oil prices in the long term. Oil is a primary fuel for the U.S. engine and reduced prices have a strong upside for the American economy. This translates into an upside for the world economy. Admittedly, there will be a loss of jobs in the U.S. shale oil sector but I expect this will be easily offset by increased employment in other areas of industry. Ultimately there is a finite supply of oil and I'd rather see it extracted at a lower cost which benefits the economy than at higher costs which regard it.

    Garion

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

    Quote Originally Posted by Garion View Post
    Hello,

    Frankly I'm in favor of lower oil prices in the long term. Oil is a primary fuel for the U.S. engine and reduced prices have a strong upside for the American economy. This translates into an upside for the world economy. Admittedly, there will be a loss of jobs in the U.S. shale oil sector but I expect this will be easily offset by increased employment in other areas of industry. Ultimately there is a finite supply of oil and I'd rather see it extracted at a lower cost which benefits the economy than at higher costs which regard it.

    Garion
    Why we should use this reprieve just start developing more alternative energy.

    I also think we should subsidize the fractures to keep the infrastructure on warm standby I don't trust the Arabs.
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    Re: Saudi prince: $100-a-barrel oil 'never' again

    Quote Originally Posted by DA60 View Post
    Saudi prince: $100-a-barrel oil 'never' again


    Some very interesting comments from this Saudi prince on oil.
    Oil as a commodity has had booms and crashes before and will again. The Prince is both wealthy and rich. He probably would love to pick up some shale properties on the cheap.

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

    Quote Originally Posted by DA60 View Post
    Saudi prince: $100-a-barrel oil 'never' again


    Some very interesting comments from this Saudi prince on oil.
    It's an interesting perspective. Though those who might be unfamiliar should know that Talal is not tied into the actual apparatus of the Saudi state. He holds no cabinet positions and is considered to be an outsider with little popularity or relevance within the inner circles of the royal family. Instead his reputation is due to his status as a businessman with massive holdings and his familial relationships which allow some unique (though not always accurate) commentary on Saudi issues which are often extremely opaque.

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

    Maintaining market share over price control reads to me as "Crap. If they do not need our oil, they might start thinking about bombing us too." With oil accounting for 30-40% of some of these nations' GDP, and so many peole dependent on the government for services, I could see low oil prices further radicalizing the region.

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

    Quote Originally Posted by Declan View Post
    Maintaining market share over price control reads to me as "Crap. If they do not need our oil, they might start thinking about bombing us too." With oil accounting for 30-40% of some of these nations' GDP, and so many peole dependent on the government for services, I could see low oil prices further radicalizing the region.
    You have to remember that Saudi has a national wealth fund of something like $750 billion. So they would have to eat into it by an estimated 30-50 billion per year at $50 oil, but they could sustain that for quite a while. Russia, Iran and Venezuela may have much more trouble.

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

    Quote Originally Posted by washunut View Post
    You have to remember that Saudi has a national wealth fund of something like $750 billion. So they would have to eat into it by an estimated 30-50 billion per year at $50 oil, but they could sustain that for quite a while. Russia, Iran and Venezuela may have much more trouble.
    But given all the extra agent hooker parties, that might be a "best case" (for them) scenario.

    Aside from that, I would tend to agree.

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

    Quote Originally Posted by EMNofSeattle View Post
    Why we should use this reprieve just start developing more alternative energy.

    I also think we should subsidize the fractures to keep the infrastructure on warm standby I don't trust the Arabs.
    You don't trust the Arabs, really? Hey, if you can't trust them, who can you trust? Next, you'll say you don't trust our very own federal government either.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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

    Quote Originally Posted by washunut View Post
    You have to remember that Saudi has a national wealth fund of something like $750 billion. So they would have to eat into it by an estimated 30-50 billion per year at $50 oil, but they could sustain that for quite a while. Russia, Iran and Venezuela may have much more trouble.
    Which was why Iran supported OPEC cutting production to maintain higher prices but SA balked.

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