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Saudi War On Shale Goes Nuclear - "No Chance OPEC Will Cut Output" Even With Brent Under $50
For those hoping that the recent brief dip in Brent crude below $50 - most notably Venezuela's intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- debt capitalized shale companies - would mean that Saudi Arabia's vendetta against OPEC would finally be put on hiatus, we have bad news: the vendetta just wen nuclear because as Reuters reports, there is "no chance of OPEC output cut."
As Reuters further adds, Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, despite Brent's dip below $50 a barrel this week, where it is surely headed once again in the coming days. More:
Those misgivings have grown with a slide in oil prices to below half their level in June, hurting the economies of OPEC's smaller producers. Benchmark Brent dipped to $49.66 on Wednesday, its lowest since April 2009, before rising to $51 on Thursday.
OPEC has forecast an increasing surplus in 2015, citing rising supplies outside the group and lacklustre growth in global demand. But the Gulf members, who account for more than half of OPEC output, are not wavering, arguing lower prices will slow competing supplies, spur economic growth and revive demand.
One delegate from a Gulf OPEC member said there was "no chance" of a rethink while another referred to the view that non-OPEC producers were to blame for the glut. "Naimi made it clear: OPEC will not cut alone," the second delegate said.
So as the rest of the non-OPEC crude exporting world blames OPEC, and specifically Saudi Arabia, OPEC, and specifically its oil minister Ali al-Naimi, has said: OPEC will not cut alone, or in other words, as long as shale companies are out there pumping, kept alive thanks to the Fed's ZIRP policy forcing investors to keep them well capitalized even though bankruptcy may be breathing down everyone's neck in short order, expect the Saudis to keep pumping at the same feverish pace.
OPEC ministers and delegates have blamed non-OPEC producers such as Russia, Mexico and Kazakhstan, as well as U.S. shale and tight oil production, for the oversupply in the market.
U.S. oil production has surged from around 5 million barrels per day to reach a near 30-year record of more than 9 million bpd over the past six years, propelled by the sudden emergence of shale oil output from North Dakota to Texas.
Ironically, it may well end up as a showdown between the Fed and Saudi Arabia, the former doing everything in its power to keep otherwise insolvent companies well-capitalized, and on the other Saudi Arabia doing everything in its power to keep the cash flow drain as high as possible for High Yield debt-funded shale companies, and daring either the Fed, or rather junk bond investors who are scrambling for any source of yield, to back out.
Considering Charlie Evans' comments from last night, it will be a long wait on both sides.
How does Reuters know all this? "The OPEC delegates - government officials representing their countries who attend OPEC's meetings - spoke to Reuters after oil's brief fall below $50 on condition of anonymity as they are not authorised to speak publicly on the issue."
The question is which OPEC, considering the cartel is now officially split in two, with high-cost producers forming one camp, and very vocally opposed to their low-cost cartel-member peers. As a reminder, Venezuela, Algeria and Iran need oil above $100 to balance their budgets, according to estimates from the IMF and other analysts, higher than the Gulf members who can tolerate lower oil revenues for years.
Officially, OPEC agreed at its November meeting on keeping its output target of 30 million barrels per day (bpd) - a point the U.A.E oil minister reinforced on Wednesday although African members, as well as Iran and Venezuela, had wanted a reduction.
Iran and Algeria have both since called on OPEC to cut output in the face of the slide in oil prices. A delegate from Libya, one of OPEC's four African OPEC members, agreed.
"Something should be done by OPEC countries to reinstate its role to stabilize the market, ensuring a fair price for both producers and consumers," Samir Kamal, Libya's OPEC governor, told Reuters on Thursday, emphasising he was not speaking on behalf of the Libyan government.
"Or there is no need for it any more, especially if only one country is dictating its strategy while hurting other members."
Bingo. And since OPEC no longer technically exists with the lowest-cost producers calling the shots, the pain will continue until Brent drops to the lowest marginal production price, somewhere in the mid-$20s, just as previously forecast. At that point not even the most desperate yield-chasers will be willing to continue keeping otherwise insolvent shale companies, solvent. Expect that to take place some time in mid- to late-2015, although considering the epic pace of collapse in the front contract, it may well take place in the next month or two.
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And why can they do that. Because they know how the Bush dynasty was involved with the take down of the World Trade Centers.
Yeah, too bad for them (unless Barack is the AC) Jeb will be in office soon
This is what you do when you can't cut interest rates anymore. After Oil goes to $25/bbl, they'll think of something else to cut.
Reggie's balls?
Michelle's balls. It needs to be neutered.
q99x2...The Saudis were also involved. That is how they know...
Bin Laden Construction Company was powerful and is still in Saudi.
Gatekeeping today, Tommy?
HAHAHA. Take THAT you fracking assholes!! Fracking is EVIL and I won't rest until every fracking compoany is bankrupt! I live in the city, so I've never seen a fracking operation before. But believe me, if my friends and I lived near one we would storm those motherfuckers. Luckily the oil price is doing our job for us.
You mad bro?
you forget MDB's perpetually implied sarc tag?
Obama is taking credit for the low oil price ... this is long awaited opportunity coming to him in silver platter. a weakend president embattled by all the mess ups in healthcare, numerous adminitration stupidities in domestic and international affairs so, finally here is something he can take credit for.
in his eyes how can you lose? the electorate is getting cheaper gas, he looks stronger dealing with old foes like venezuela and russia ... how can he lose right? well, remember Texas ... all is coming to the expense of texans and there is an old saying: Dont Mess with ... you get it
Like her or hate her you cannot deny she is one audacious Woman!
http://www.barnhardt.biz/2015/01/07/the-one-and-only-way-to-deal-with-mu...
Barnhardts reply to Muslims, I just present it, obviously OT forgive me.
Send her to a real operation (like in Iraq) not just posing with an AK and her hands, to see if she can keep her "balls"...
Me too I can wave an AK and saying "kill them all" in my ranch...
Your right, where exactly can we all go to see you post your home address, burn pages out of the koran while using bacon for bookmarks while remarking on the pederasty of the prophet and the religion just like she did?
oh you won't do that, hmm must be too busy on ops, in the 'stan... Get to the choppa, drop da pm's too heavy.. BTW its an AR, MISTER TACTICOOL OPERATOR...
The Sauids are the worst of incenstuous scum. And their hidden ties to 9/11 are a well-kept secret. The day the true semites finally overthrow that corrupt family regime will be one for the history books.
Israel's ties are a better kept secret, though.
Saudi provided patsies - and blaming them, while leaving out Israel and the American traitors, is all part of the plan.
As you know, at a minimum, an absolute minimum, the arrests of dozens of Israeli spies, mostly decoys, warranted further investigation as to possible foreknowledge, if not actually running the op.
This doesn't happen because of Jewish political power and "Christian" Zionist stupidity.
What Did Israel Know in Advance of the 9/11 Attacks? - CounterPunch"WE were there to document the event." Mossad Agent on Late Night Israeli TeeVee.,.
I tried Tom I cannot find this. Is it silly to ask for a link to this?
No. Not at all silly or unreasonable.
It took me a minute. No problem...
https://www.youtube.com/watch?v=rStJ5BgadPs
It is at 6:10 in the video.
https://www.youtube.com/watch?v=tRfhUezbKLw
There ya go... 1:40
Thank you both
Isn't it funny that the people who argue the most strenuously that the official 9/11 narrative is true, and that bin laden and khaled mohammed were to blame, nevertheless refuse to ever discuss their purported motivations - because it implicates blind US support for Israel's apartheid occupation regime?
What motivated the 9/11 hijackers to attack the ... - Daily Kos
Ray McGovern: Shining Light on Roots of TerrorismThe usual, tedious, absurd rhetorical tricks were employed -
http://www.camera.org/index.asp?x_print=1&x_context=2&x_outlet=35&x_arti...
Even though bin Laden said it - it is "anti-Semitic" to blame Israel. Bin Laden certainly did it, but he was lying about why.
Israel never does wrong and is never to blame for the Cult of Yahweh.
It's not funny at all.
(I'm also aware that phrase was sarc.)
Still not funny. =)
Oh hell,
MDB is BAAAACK....
Gatekeeping today, Tommy?
Counterpunch...
Gatekeepping? Not at all.
Do you really believe that Saudi and Israel are not allied against Iran and the former Iraq?
It is not as simple as you'd believe.
I could blame our Mossad "Dancing Jews".
But as they said on Israeli Late Night TeeVee...They were there to document the event.
I can blame the Saudis whom were supposedly on the aircraft. But many of them just, inconveniently, turned up alive. So the Saudi Government provided those convenient passports to the FBI...you know...the ones that were not burned?
I can buy into the official story which I know is bullshit.
Yes Israel had their hand in it also. There is no doubt about that.
And so did Saudi Arabia.
I am more interested in the deeper comprehensive truth.
It is just too shallow just to blame Israel. There is more than enough guilt to be given.
Remember the USS Liberty.
I'll look at your links.
It's real simple...... all you have to do to find out who is responsible is to trace the THOUSANDS of puts bought a week before 911 in all the airlines. There were like 100x the normal average bought. How easy is it to trace back an account in the stock market? PIECE OF CAKE!!! But for some reason, poof.... case closed.
Then it is not that simple, is it?
Yes the US Gov't has done their best to cover this crime up...as they are involved as well.
bring on the deflation, i've been waiting for it all my life
Alcohol?
And after him maybe the "little brown one".
Ah democracy, King George I,II,III,IV....
True Cabalist saying: "When oil is low the blood will flow".
Scherff's = Bushes
I do not think so.
Right now, with this Bearish Statement released, the Price of WTI is advancing.
THe PPT, or the FED, is buying Oil.
(Yes the Plunge Protection Team still exists. Why are Stocks never allowed to decline more than 2% or 3%???)
It is a World where everything is fake, everything is a lie, and they cannot bother with keeping their facts straight any longer. It is truly a Land of Confusion.
That is the Goal of the Cabalist...It is not to depress the price of Oil, or, anything else for that matter. They depend upon unceasing growth. They are a Cancer..
The Goal is to spread confusion, make confusion pandemic, as the confused are much more easily led by those with a "clarity of vision".
Now when you get that clarity then you, also, can become a leader...for the Cabal...or AGAINST THEM, as I am.
"General Tom, cleanup on aisle 4."
I'll get right on it, massa.
Boehner keeping his House whip post is a great example of TPTB not caring if the strings are visible on the magic tricks anymore... they are getting downright sloppy but to borrow a phrase our next Presidenta, at this stage what difference does it make?
They are firmly ensconced beyond the rage of the pathetic Tea Partiers who were so excited at their seeming protest victory in November. LOL.
Its a repeat of the Anglo-Zionist deep state putting their gay muslim community organizer in power and giving him a Nobel Peace Prize - that is to say, its a show of force.
A true "hold my beer" moment which no doubt greatly impressed the other .0001% at the Bilderberg conferences, as in "...wow, you really *DO* have the entire US in your backpocket!"
Andrea Rossi on the testing of the 1 MW E-CAT
http://www.e-catworld.com/2015/01/08/1-mw-e-cat-plant-watch-thread-updat...
http://www.e-catworld.com/2015/01/06/rossi-domestic-e-cats-still-a-prior...
Rossi: Domestic E-Cats Still a Priority for Industrial HeatLet us know when someone "tests" it that had no hand in its creation or financing
Well most of their holes are already dug and paid for, and they make money at almost any price.
Nothing to lose for them really.
pods
The only real beneficiary in all of this is China.
And Japan.
Which allows the Fed to stay solvent, if the former does not dump US Debt, and the latter keeps buying it.
And don't forget the hidden beneficiaries, i.e. the Chosen Few, who are drooling at the prospect of buying the bankrupt Shale companies for pennies on the dollar. Same as always.
The was a special closed-attendance session at the 2012 Herzlya (Security of Israel) conference. The title of the session was 'If oil goes to $250 a barrel, should Israel sell or store its own oil?" - or words to that effect. Maybe the title was a typo and they meant $25 rather than $250.
If oil goes to $25 per barrel, you definitely should not sell, especially if it costs you $40 to produce it.
So, is the hypothesis that China has bedded the Saudis who are actively turning against the US? Without complicity or active participation, I just don't see how China could arrange for this collapse in oil unless they stopped buying on the open market and started drawing on strategic reserves.
I just think it unlikely that SA would jump ship on the US right now. The US has got to have "insurance" against that possibility. . .
no this is war on russia and everyone that took out loans to extract just about anything whatsoever, anyone that benefits aside from the trible, is merely coincidental
the US has the best insurance in the world, its called "regime change". The US wouldn't have to do much, the Wahabbis are despised by much of the population, and the serfs are kept in line(just barely) by bribes from oil revenues. Stop shipping them arms and just watch the fireworks. Or, maybe give ISIS a nudge in their direction, game over for the royal family. The US gov can, and will, make that happen, and quickly, if they get out of line.
India is a big benofactor in all this...maybe more then china
Sure thing Pods... CIASIS will show'em soon.
Trade Wars can turn into Hot Wars.
And more often than not, when they do, it is a conflagration with many casualties...
The Pale Horse Rider of Death beckons many....
Happening in a Theater close to you soon. You may even have a Front Row seat during Audience Participation Night if your ticket has been purchased.
I expect that I will be amongst the invited. It is, after all, an invitation which many wish to avoid.
I mostly agree. However, don;t forget about all the social services Saud provides in order to keep the natives from getting restless
Pods, true until Iran launches one missile, just one at this facility.
http://seaport.homestead.com/files/Ras_Tanura.html
Actually the Opec countries have huge free shit armys...and they get free goodies paid for by the oil and that keeps the isiots in power...they cant do that now...some have some savings...but most live off of the income....short term...and will not survive a long low price in oil
Saudi budget alone stands to receive 150 bil. less this year alone with oil below $60, nevermind $50.
well, maybe oil is like gold and silver, and you can drop the price to around the all-in cost of extraction, and still have plenty of supply forever?
Is it wierd that I'm in Texas and I'm cheering for the Saudis because I want the financial system to collapse?
Nice screen name dude
And dont forget the Bush/Clinton (same thing) dynasty stole all of thier gold. So they are going to get revenge. I wonder how many treasurys the Saudi's are holding now?
Hummers and Escalades for all.
I'm having a twin turbo kit installed on my new fully-loaded Escalade as we speak. I really do need 750 Horsepower to get me and the family around town.
The death of energy conservation (again).
NoDebt-
I have absolutely NO problem with you getting a twin turbo kit. It's your money and your choice. The problem is that the first step in getting it on the road will be supporting the Bureaucracy of Perceived Pollution Payments, followed by the Nanny State villifying your choices and making it illegal for anyone else to THINK about such kit (Except for the Chosen Few)...
Making the world safe for Fascism...
Not everywhere is like the People's Republik of Kalifornia. They're trying. But not yet.
And I don't actually own a twin trubo Escalade. But I do have my own home-built version of Mad Max's car- blower and everything.
Pictures or didn't happen.
If you do got it I'm sure your neighbors question your motives.
Would be a sight to see reeling down the street.
What did you use as the base vehicle?
h_h
Remember how we laughed mightily to that movie when it came out?...
Robocop is cult classic for that reason! When the time comes and the opportunity avails itself you might also want to post this one as Eastern Europe continues it's descent thanks to George Soros and friends!
Thanks for posting it.
I don't watch Hollywood's shit anymore but Dutch director Paul VerHoeven nailed it when he did the first Robocop. The corruption, lies and dishonest.
Me and my buddy just handcrafted our first "rocket car" using used lawn mower parts and a trubine this dude from the utility swiped from the local price gouger.
I just picked up a beat up freightiner for 8 grand and he's got an old reefer in the yard with fresh treads.
We'll be heading out to Bonnie this year to go full Indian on their ass...
how can you be disabled if you can build a rocket car and go full indian? theres a JOB for you somewhere.
my bad, if obama and hillary will give freebies, you vote for them and keep collecting and then rip the system posting on zero hedge
i thought people here weren't on the titty they so despise the bankers milking off of
@disabled vet--you should sing praise to the american system and shower our elected officials with love for their generosity towards you
or you have a mental disability and make up stuff online
Disabled does not mean unable.
I have wrote about this before.
So I will present this with my usual snark and SATIRE...
If it were UP TO ME...ALL OF THE MONEY handed out to the DISABLED would be used to SUE AMERICAN CORPORATIONS and SMALL BUSINESSES for discrimination against the Disabled under the Americans with Disabilities Act.
Yes. There should be absolutely INSANE PEOPLE working in America. Who cares if they have a DELUSION where they ACT and INJURE OR KILL MANY ABLE BODIED?
In fact ALL BUSINESS OWNERS SHALL BE COMPELLED to HIRE THESE NUTS under the ADA. (Really it is a Toothless Law...but...for this example...)
It is funny. People believe the Schizophrenic to be STUPID. Well they are NOT. They can actually think...and be very rational...at times.
They are NOT PSYCHOTIC ALL OF THE TIME. In fact they can seem quite normal most of the time. But UNDER STRESS, THEY BECOME DELUSIONAL.
But they are UNPREDICTABLE as you do not know who, what, when, where or why will set them off into a fantastic flight, into the depths of their thought disorder, their insanity.
I will tell you man...THESE ARE THE TYPES OF EMPLOYEES THAT I WANT. I will go out of my way to hire them....AND I'D BE BANKRUPT IN A WEEK.
You would have to be crazy, OUT OF YOUR OWN RABID ASS MIND, to employ them, wouldn't you?
So people, like you, treat your own Dogs and Cats better than you treat the disabled. In fact I will bet that you want them all killed...slowly...painfully...by starvation.
THAT IS WHAT IS HAPPENING.
And if you have them starve...THEN THEY WILL USE THEIR LUCID TIMES TO BOMB THE LIVING HELL OUT OF YOU.
But there is a good side to this...Maybe...If the karma shall fall upon you...IT WILL HAPPEN TO YOU. That will be JUST DESSERTS.
And with the oncoming collapse...I may get to see that happen to you.
And since many homeless fall into this category...I TEACH THEM HOW TO MAKE BOMBS. Whom needs a gun, anyway?
They already know where the Gated Communities are.
They are filled with resentment and hatred for their mistreatment.
They will make an EXCELLENT ARMY.
Tall Tom, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this thread is now dumber for having scrolled past it. I award you a red arrow, and may God have mercy on your soul.
TM - Stolen from a movie obvisiouly...
Enjoy...
https://www.youtube.com/watch?v=CH6GpXAXmx8
And whatsoever you do...do not take a sealed glass vial of Sulfuric Acid immersed in a sealed pipe with a solution of Nitric Acid and Glycerin and throw that pipe so that the glass vial breaks.
That might be explosive.
Land mine designs are even better than Hand Grenades.
Yes I will teach. I will even out the playing field.
Whom needs a gun?
It is all about the market share. Unless everyone cuts supplies, the market (i.e. Saudi/OPEC) will ensure the biggest cost producers will reduce their production, pronto!
As a by product, the whole world will be destabilized...well...that is not Saudi's problem..they have a trillion dollars to safeguard themselves, whosoever doesn't, well, bad luck for them!
If you are Venezuela, Russia or Argentina, don't worry, China is here to help with AIIB, BRICS bank, SCO, pipelines, swaps and whatnot!
http://www.voanews.com/content/reu-venezuela-maduro-20-billion-chinese-i...
Agreed, although world destabilization may manifest into something physical. Are these high cost producing countries going to accept there demise in a trade war.
Dubaibanker,
enjoyed your e-cat LENR posts on yesterday's article. that could turn really interesting.
I like to follow that e-cat and LENR stuff too. Some folks around here hate that talk though. Probably just shills though.
Also, if Gates is going to check it out and it is as real as I have been reading (I believe it is) then prepare for it to be shelved and/or people to die. Call me a pessimist or whatever but there have been plenty of other alternative energy devices over the years that provide better efficiencies that should have come to market and just disappeared with the inventor either shutting up or disappearing all together.
I think the best thing that could be done with that tech is to patent and release. Otherwise it will die quietly in a lab in Italy.
Am glad you enjoyed it.
I just wanted to get the thing out there so people can know, think, discuss and learn.
I hope it turns out to be true because it will solve a lot of world's problems from wars, inflation, control through oil, poverty, lack of water and hydro in remote and poor areas etc. It's a long list.
No one that is producing is going to reduce production. Maybe new drilling will go down but the only way production will decline is through normal well decline and right now, there are still plenty of new wells coming on line in West Texas with 20kbbl/mo + production that aren't going to give a rats ass about the price, they will pump and be paid, no matter what. So the Saudis better keep watching their bank account go down as they make up for their declining revenues and their increasing cost of staying afloat.
Wrs1
From all your previous distressed comments only person watching their bank account go down seems to be you.
Saudis and the majority of OPEC back the petrodollar.
Texas is forced too.
Don't get it twisted.
My bank account is going up, just not as fast. You have it wrong as do the people who think the Saudi's have control of the market, they don't, they just fucked it up for themselves and everyone else. My answer to getting my bank account to go up faster is to drill more and sell more.
Drill more and sell more?
Hmm with the market spread as close as can be now and rig counts dropping I highly doubt you'll be doing that anytime soon.
Drilling costs capital. No investor is gonna loan to you with out a good profit margin. So if you pay out of pocket your ROI at these prices is probably years out.
I'ma call your bluff cause you seem to be uneducated in the matter.
The one uneducated in the matter is you. If you have cash flowing wells and no debt, you can keep drilling and that is exactly the status of my lessee. With rig counts dropping, daily prices for rigs drop, fuel prices are already down and those are a big part of the daily cost of a rig as well as the cost of rig hands. The cost of drilling a well is dropping PDQ. Do you think no one was drilling for oil when it was $50/bbl a few years back?
Again you lease your wells meaning you have an agreement on how much you need to extract and how much they take %.
You're probably drilling what was already capped back when oil was $50 years ago.
No one will lease you rights to produce at these costs there is no margin in it when they can sit on it and wait.
Never forget that Saudis and each OPEC member has billions in cash reserves and secondly, all oil wells are Govt owned with no debt and lowest cost of production!
They can wait for a verrrrrryyyyyyy looooonnnnngggggg time!
You shouldn't forget that Saudi Arabia has 30m people that don't work for a living and exist off the oil income. That isn't the case for the private wells in Texas. Sure the companies that drilled some of them might be in debt but even if their debts get called, the ones that call the debts will still have to produce the wells or lose the mineral rights. It's different here in Texas and the US than it is in countries where the govt owns the resources. I don't have to support anyone with my oil royalties except my family, the Saudi govt has 30m people to keep happy. Their bank accounts won't last that long.
Again, you forget Saudi and OPEC are the backbone to the petrodollar.
You think the US government cares if you default on your obligations?
Saudi and OPEC aren't the same thing in case you haven't been paying attention and what obligations are you referring to?
Lol really dude? The majority of oil producers in OPEC back the petrodollar.
Kuwait, SA, UAE, Qatar
Obligations.. You're tellin me your rig has no overhead cost and is completely paid for and 100% profit?
Who you leased through, what oil rights do you have?
Seems to me you're just a rig deck operator and nothing more.
You stop producing after expenses pass income at some point...
banks aready cautious and not loan in OK and TX.
Wait maybe 4-5 month for problem to hit in real...May 2015
debt is stacked way more creative and deep than bust of 80's
If you do, you lose your lease and that is where the leverage is.
"If you do, you lose your lease and that is where the leverage is"
Certain terms such as "held by production" may not be familiar to those not holding their mineral rights. Could you post a standard "Producers 88" form for them to see? I'm sure you could find an example from Judon Fambrough on the Texas A&M Real Estate Center index page.
Ok, let's get this party started, bitchez!
The oversupply of oil was only about 1% or 1 million barrels a day. Now that oil is off more than 53% from its late June 2014 high, demand can easily go up by much more than 1 million barrels a day.
So Saudi Arabia can go nuclear as it wants. It is only firing blanks to talk down the price of oil in its US-sponsored war on oil prices against Russia and Putin.
Knock it off. Too much truth in that statement.
I'm curious as to what the world is supposed to use all this extra oil for?
Which productive enterprise with insatiable demand from an ever more prosperous global populace needs more oil to expand?
Per capita consumption of oil in China is only 13% of that in US. In India, it is 5% that of US.
Just those two countries could soak up all extra supply at $80 a barrel. The current fall is price manipulation by US with its mouthpiece Saudi Arabia to destroy Russia. The same technique worked well in 1986 when oil fell to $10 a barrel and the USSR broke up.
Shame its not the 80's anymore.Can't teach an old dog new tricks.
Where's the data to back all those claims?
"I'm curious as to what the world is supposed to use all this extra oil for?"
Muscle Cars
Have one...trying to do my part.
It gets around 6 mpg.
WAR.
Weapons producers will make a killing over this. PUN INTENDED.
Long "Defense" Industry.
I wonder if the Sauds understand how much better my Colorado life is now that they've taken this action? They have helped defeather the vultures of our society, and expose the rapists of our strategic reserves.
Vultures of our society=oil men?
I would say bankers myself, but to each his own.
pods
That's why I put them in two different phrases, the oil men fuck the earth (and beat our strippers after defecating in our streets), whilst another previously-unseen hand is exposed with the pinkish, vulnerable flesh of a plucked bird.
Fine with me
Correct the headline, should read "Saudi/US War on Shale..."
Saudi is facing off against its mortal enemy, and it ain't the Zionist entity.
The Fascist States of America has determined to conduct an economic war with Russia.
And the Obama Administration finds an economic war against the shale/oil producing states a fitting revenge for November 2014.
How long will this gone on? Long time GI.
"Saudi/US War on Shale..."
Please wake up. Since when is Brent pricing impacted by US shale? Are you suggesting that US lightly refined oil exports are impacting Brent pricing? The author is leading the readers in the wrong direction.
Fact: how does Saudi oil exports impact WTI pricing when Saudi oil exports today are lower than in 2008? ( About 0.2 mbpd less)
Fact: US +Canada oil production today is about +5 mbpd more than 2008. Oil is being exported under the guise of lightly refined crude.
Slowing world economy is the root cause and Saudi cannot fix. All indicators are that WTI pricing will remain low even if OPEC drops exports by 1-2 mbpd due to Cushing glut.
P.S:what happens to Japan when oil prices rise? - would it not be a black swan event imploding their economy? if oil prices have to go back to $80 again- USDJPY has to go back to <90.
Slowing world economy....BINGO
the US could cut all taxes in the production chain of petroleum-based goods that are sourced from domestic oil shale.
that would be the end of that argument. gas isn't everything, but nobody would pay $3/gal for foreign-sourced at the pump when they could have it for $1.75/gal domestic. the entire production chain would turn on a dime.
Nobody's talking about cutting taxes on energy production or products. And I mean NOBODY. It's all about how much MORE we can tax them now that the price has dropped so far.
Well we are fighting The Taliban (copyright, patented, trademarked, all rights reserved) and the are still UNDEFEATED!
Now with an extra 400 billion here I'm pretty sure....
Cutting taxes? Are you kidding? Clearly you did not read the other ZH article this morning:
“How You Can Tell If You Are Living under the Rule of Money Printers”
Please - the House of Saud is not going to oppose the Fed. They are part of the same Globalist Banking Matrix.
Those that own the Fed want low prices to punish and soften both Iran, and especially Russia, where the CIA, NED, and USAID are hard at work - unofficially, of course.
The US economy doesn't mean a thing relative to the drive for Greater Israel. - and this means using American blood and treasure to eliminate any chance of a rival power, i.e. Russia and China.
The AntiChrist, it is said, will be allowed to reign for a while from Jerusalem. Could well be Bibi. Or someone less - cough cough - "moderate" in his Talmudism.
All of this shit is so evil, rotten and sickening I don't know where to even start.
And most evangelical Christians in America are cheering the lies and deception on. Talk about enlightened and spiritually dead.
The Evangelicals have been deliberately fooled and deceived since Scofield was paid to concoct his Bible, which essentially was the Talmudization of the faith - an infection from the Pharisees.
Salvation is through The Christ {which may mean something different to me than to you, or you}, not any state, and not any people, no matter what rhetorical legerdemain they employ.
Jesus is a Myth.
The Jesus Birther Movement submitted a challenge for someone to provide proof that he existed, as well as submitting a list of writers and historians who lived from 1BCE-2CE (Common Era, instead of AD. The "A.D." System and its placement in RomanCatholic/Western History - was set up and back-dated arbitrarily by a Monk in the 6thCE - all Bullshit.)
Xianity was a formed by Constantine and Friends; and is a tool to harness the lives of the Upright.
Downvoter:
Do YOU have some evidence to present before the rest of us and the World?
I didn't think so...
Interesting video.
Gnosticism. I did listen to the entire video.
I will have to search out the parallels between the Khrishna Story and the Christ story.
I just have a difficult time with declaring myself God. It seems sacriilgious. I am too flawed and haven't that arrogance.
http://www.truthbeknown.com/virgin.htm
http://www.truthbeknown.com/virgin.htm
And the whole world was decieved.
How do you say "FUCK EVERYONE" in Arabic?
"allahu akbar"
Fuck'em...Fuck'em all.
How do you say "FUCK EVERYONE" in Arabic?...
I think you mean
How do you say "FUCK EVERYONE" in Hebrew!
What happened to the "Cheap Oil Is Truly Terrifying" retard?
Fuck that terrified paid Maduro shill.
OIL has much further to go to find a bottom, but it should find temporary support from its huge slide soon...
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
What's really happening to oil?
http://www.globaldeflationnews.com/whats-really-happening-with-oilthe-la...
10 things the media won’t be talking about after the Paris terror attack
Do NOT click on the above link!
(Ad for Vegan crap)
where do you see an ad for vegan crap? there actually aren't even ads on our page right now given that google decided to ban us from adsense without explanation.
I saw no such ad. I think it's a pretty good article. Not great. But worth a quick skim.
http://wtfrly.com/2015/01/07/10-things-the-media-wont-be-talking-about-a...
p.s. fuck Rand Paul
http://wtfrly.wpengine.netdna-cdn.com/wp-content/uploads/2015/01/randzio...
You just can't trust a man who throws his own father under the bus.
I agree. Fuck Rand Paul. He is just another politician asshole.
Dead Canary is just somebody who wants to quash Liberty.
If people want to be Vegan then how does that harm you?
Personally I am NOT into that..I eat Cow, Pig, Fish and Bird and I love Dairy. I like eating Fruit and Vegetables as well....AND JUNK FOOD TOO....lots of Junk Food with Mountain Dew.
So you wish to restrict Freedom of Press because you do not agree with somebody else?
What a fucking Fascist you are.
The United States of America
A division of the Saudi group of companies
How this all shakes out nobody knows, but it is going to get fuckan ugly, that much is certain.
Oh wait, the Dow is up 300 points on this great news....forget it.
If you are a levered shale co, you hopefully bot a metric ass ton of derivatives, just to amplify/spread the pain of a default. You might even get lucky to the point where the Fed has to bail your ass out with some conjured fiat. There is a level to the game pitting the Fed's printing desktop versus OPEC's pumps. I suspect the high-cost shale, oil-sand, and deepwater producers will get squeezed out first, but it is an interesting game of chicken. Provides OPEC with another reason to shift away from the dollar.
And hopefully the bank selling that levered product was levered to the hilt too...
Well the Chicoms and the camel humpers have been bumping uglies for a long time now.
The price drop surely suits the chicoms, they are sucking it into inventory tanker after tanker, they'll take all they can get.
Our "good freinds" in the middle east don't give a flying fuck what the good 'ol USSA thinks about it.
... >>> "Saudi War On Shale" ... re-arrange the letters and you'd get ... "A Sharia Sown Duel" ...
Off the top of my noggin also, "A lousier handsaw," a la Hamlet. As in a clouded perception.
Who said the Sauds weren't our friends? I love $1.65 a gallon gas. Seriously though, if you really believe the Sauds have this much influence on the price of oil, you're fooling yourself. There is something much larger going on.
it's called collapsing world wide demand...
Exactly, demand destruction and margin calls are what is killing oil. The Sauds have nothing to do with it. But, it makes them feel important again.
Oil demand down 50% in 6 months? Seems ridiculous. This is economic and financial warfare aimed straight at the head of oil producing countries like Russia and Iran. Seems like the game has gone nuclear now (currency wise).
At least the gold chart says so...ruble down 90% the past year.
http://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=1y...
It probably started that way.
Strange tactics to shoot yourself in the head as the opening gambit.
Only Ray Charles didn't see this coming.
Looks like the current scvore is: BRIICTS 6, USA 3, another US success will be fatal, if this one
already isn't.
Tick tock..
Agree, but like the sound of BRITICS better than BRIICTS.
No, demand has been falling for years. If you think the Saudi's with 10 MPD production (about one tenth world production) can get the price to fall 50%, that seems ridiculous to me...
http://www.wnd.com/2015/01/obama-cheers-his-rescue-of-car-industry-at-closed-plant/
I should not need additional commentary.
Credit implosion. The music stopped.
pods
Yep, and soon the fed will be adding oil fields to it's balance sheet.
War on shale? Really? A big part of the costs in fracking is due to oil, so cheaper oil means lower costs. Those low prices are there for one reason only. RUSSIA !!! Venezuela, Brazil and other small fish are a bonus, but if wasn't for Putin bravado, oil would be over 100 and climbing as the temperature plunges in America. I bet Obama is paying the Saudis the difference ( under the table) so expect oil to range in a lower band for a while. America has Putin's balls in its hands. lets see how long he will handle the squeeze : ) ) !!
"Better make that ship two thousand feet long, Bob."
Russia does not have to to frack for oil.
better worry about your own country
look debt asset on Chesapeake, and others..
will bail those out, with a bail in?
that won't be grabbed from Russian accounts...