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Saudi Prince Warns "We Will Not See $100 Oil Again", Calls Anti-Russia Conspiracy "Baloney"
Speaking to his favorite money-honey, billionaire Saudi Prince Alwaleed bin Talal told Maria Bartiromo that the negative impact of a 50% decline in oil has been wide and deep. As USA Today reports, the prince of the Saudi royal family said that while he disagrees with the government on most aspects, he agreed with their decision on keeping production where it is, adding that "if supply stays where it is, and demand remains weak, you better believe it is gonna go down more. I'm sure we're never going to see $100 anymore... oil above $100 is artificial. It's not correct." On the theory that the US and the Saudis have agreed to keep prices low to pressure Russia, the prince exclaimed, that is "baloney and rubbish," adding that, "Saudi Arabia and Russia are in bed together here... both being hurt simultaneously."
Q: Can you explain Saudi Arabia's strategy in terms of not cutting oil production?
A: Saudi Arabia and all of the countries were caught off guard. No one anticipated it was going to happen. Anyone who says they anticipated this 50% drop (in price) is not saying the truth.
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%.
Having said that, the decision to not reduce production was prudent, smart and shrewd. Because had Saudi Arabia cut its production by 1 or 2 million barrels, that 1 or 2 million would have been produced by others. Which means Saudi Arabia would have had two negatives, less oil produced, and lower prices. So, at least you got slammed and slapped on the face from one angle, which is the reduction of the price of oil, but not the reduction of production.
Q: So this is about not losing market share?
A: Yes. Although I am in full disagreement with the Saudi government, and the minister of oil, and the minister of finance on most aspects, on this particular incident I agree with the Saudi government of keeping production where it is.
Q: What is moving prices? Is this a supply or a demand story? Some say there's too much oil in the world, and that is pressuring prices. But others say the global economy is slow, so it's weak demand.
A: It is both. We have an oversupply. Iraq right now is producing very much. Even in Libya, where they have civil war, they are still producing. The U.S. is now producing shale oil and gas. So, there's oversupply in the market. But also demand is weak. We all know Japan is hovering around 0% growth. China said that they'll grow 6% or 7%. India's growth has been cut in half. Germany acknowledged just two months ago they will cut the growth potential from 2% to 1%. There's less demand, and there's oversupply. And both are recipes for a crash in oil. And that's what happened. It's a no-brainer.
Q: Will prices continue to fall?
A: If supply stays where it is, and demand remains weak, you better believe it is gonna go down more. But if some supply is taken off the market, and there's some growth in demand, prices may go up. But I'm sure we're never going to see $100 anymore. I said a year ago, the price of oil above $100 is artificial. It's not correct.
Q: Wow. And you said you are in agreement with the Saudi government to not give up market share?
A: This is the only point I'm agreeing with the Saudi Arabian government on oil. That's the only point, yes.
Q: Should the Saudis cut production if they get an agreement with other oil producing countries to take oil off the market?
A: Frankly speaking, to get all OPEC countries to approve and accept it, including Russia and Iran, and everybody else, is almost impossible You can never have an agreement whereby everybody cuts production. We can't trust all OPEC countries. And can't trust the non-OPEC countries. So it's not on the table because the others will cheat. The past has proven that. When Saudi Arabia cut production in the '80s and '90s, everybody cheated and took market share from us. Plus, remember there is an agenda here also. Although Saudi Arabia and OPEC countries did not engineer the reduction in the price of oil, there's a positive side effect, whereby at a certain price, we will see how many shale oil production companies run out of business. So although we are caught off guard by this, we are capitalizing on this matter whereby we'll live with $50 temporarily, to see how much new supply there will be, because this will render many new projects economically unfeasible.
Q: What about the theory of the pressure on the Russians? There's a theory that the U.S. and the Saudis have agreed to keep prices low to pressure Russia because of what Putin has done in Ukraine.
A: Two words: baloney and rubbish. I'm telling you, there's no way Saudis will do this. Because Saudi Arabia is hurting as much as Russia, period. Now, we don't show it because of our big reserves. But I'll tell you Saudi Arabia and Russia are in bed together here. And both are being hurt simultaneously. And there's no political conspiracy whatsoever against Russia. Because we are shooting ourselves in the foot if we do that.
Q: You said the price of oil will dampen the shale revolution in America. How?
A: Shale oil and shale gas, these are new products in the market. And we see big ranges. no one knows for sure what price is the breaking point for shale. Wells have a higher production cost. And very clearly these will run out of business, or at least not be economical. At $50, will it still be economically feasible? Unclear. This is a very much developing story.
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Dup. But it bears repeating:
They do that with gold (repay), at a level that's never seen (unreported, darkest pool).
Got this from a Chechen site:
RUSSIAN POLITICAL SCIENTIST: It's the KGB who killed 12 Jewish 'humorists' in Paris!
http://www.kavkazcenter.com/eng/content/2015/01/08/19840.shtml
--------------
This is common knowledge...
North Caucasus jihadists’ money traces back to Saudi Arabia and Osama bin Laden
https://moneyjihad.wordpress.com/2013/04/19/north-caucasus-jihadists-mon...
==============
I have no doubt that the KGB (FSB) had anything to do with it and feel that israel/US/Saudi have been behind a lot of this shit.
Memo to the downvoters:
Fascist Aggression in Ukraine: Saudi Arabia Sending Takfiri Fighters to Kiev?http://www.globalresearch.ca/fascist-aggression-in-ukraine-saudi-arabia-...
On May 4, Fars News headlined “S. Arabia Relocating Takfiri Fighters from Syria to Ukraine.”
It sent extremist militants against Eastern Ukrainian freedom fighters. An unidentified Arab security official told Fars News:
“A large number of terrorist Takfiri fighters in Syria, who bear Saudi and Chechnian nationalities and receive financial and military backup from the Saudi intelligence agency, have been transferred to the Ukrainian capital, Kiev, on several planes to help the Ukrainian army in its fight against the pro-Russian population.”
“The forces have been immediately dispatched to Kramatosk city in Eastern Ukraine, and are now fighting beside the Ukrainian army forces against the pro-Russians under the name of militias who support the government.”
Saudi Arabia seeks revenge, said Fars News. It wants Moscow punished for supporting Syria’s Bashar al-Assad.
Last July, Saudi Prince Bandar bin Sultan visited Moscow. He tried bribing Vladimir Putin.
In return for billions of dollars in Russian arms purchases and other economic incentives, he wanted him to stop supporting Assad.
He chose the wrong leader. Putin isn’t for sale. He rejected Bandar’s blood money. He diplomatically said no deal.
http://www.globalresearch.ca/paris-shooters-just-returned-from-natos-pro...
Shooters were radicalized in Europe, sent to Syria, returned, have been previously arrested by Western security agencies for terrorism and long on the watch-list of French and other Western intelligence agencies. Yet “somehow” they still managed to execute a highly organized attack in the heart of Europe.
In an all too familiar pattern and as predicted, the shooters involved in the attack in Paris Wednesday, January 7, 2015, were French citizens, radicalized in Europe and exported to Syria to fight in NATO’s proxy war against the government in Damascus, then brought back where they have now carried out a domestic attack. Additionally, as have been many other domestic attacks, the suspects were long under the watch of Western intelligence services, with at least one suspect having already been arrested on terrorism charges.
Knowing they had been fighting in the ME, WHY were they allowed to return???
On the road, traveling dolt?
This is Putin's is fault!
If your car right now aflame,
This is Putin is to blame!
Bonus losing in the banks?
This is Putin's cunning plans!
You're fired been recently?
Putin did it secretly!
Yesterday she has a mocked?
This is Putin is dirty joke!
You are lose the your luck?
Putin made did this a muck!
Sometime Google translate just doesn't cut it.
to lumberjack.
i have not downvoted you but i want to let you know that site kavkacentar is a very unreliable source of information. they come up with the most weirdest stories about anything that is against russia.according to their artiicles russia should of been destroyed 1000. it makes the onion news look real.
I was showing what the guys causing russia problems in chechnya put out there. These are the "folks" that the cia/mossad et. al. love to work with.
I think that everything this greedy Saudi have said is " baloney and rubbish"
Yep.
He basically explains why cartels always fail. No one will ever agree to cut production. And if they do agree, you can't trust them. So why bother? It always been true.
In the end, this guy doesn't know what the right price of oil is. Never see $100 again? Why not? Is that "overpriced"? And what was all that shale production? Is that over supply now or was it over supplying the market at $100 as well?
Feels to me like the Euro and Yuan are dying. The euro is about the burst at the seams. Held together by Mario statements. And the Yuan is letting massive wave after wave of suckers enter their equity markets... The dumb money rolling in to get burned.
I maintain that $100+ oil was an expression of monetary inflation and speculation by financial terrorists.
The price of oil was never above $40 pre 2005.
Petro-Dollar demise?
-Please explain how a US dollar buying thrice as much oil as last year can be construed as Dollar weakness.
IMO, the US Dollar suffered under FED printing and this coupled with ( now collapseing ) speculative leverage/carry boosted the price.
Did no one bother to notice that the tripling of broad US equities and the tripling of oil happened in a cooincident time frame.
-Now that the Oil bubble has burst and oil is reverting towards the pre-bubble median one might also expect the coincident equities bubble to do so as well..
I'm with ya Throxx. It's so obvious.
The FED achieved it's desired inflation as intended: in equities and in oil.
How hard is it to believe the preponderance of evidence of achievement of an inflation bubble in one asset class with the explicit purpose of funnelling obscene profits to a self-damaged financial industry, and not in another, highly correlated, asset class?
Fucking Citi owned PhiBro.
GS was involved in oil speculation.
JPM leased and filled oil tankers and parked them in the Gulf of fucking Mexico.
None of this was hidden...
It was just gouging. People got ripped off by the Banksters speculating with TARP money and FED largess. That's it.
Nice to see you Duc888. I hope you are well. Give my best to any of the renegades still rocking the boat over at TF...
Ha, I got the banhammer from the gate keeper a while back. Too mucn "troof" is not allowed over there.
Any hoo, I enjoy your posts Throxx.
TF sure made $$ getting readers from ZH.
Well friend, you have some pretty good company...Shill, ewc58, BackSeatDriver and yours truly among others that were kicked to the curb.
Why Turd let some "moderator" almost singlehandedly ruin his site is a real mystery to me.
That's easy. A lot of debt isn't going to get repaid and some bankers are going to see some of their paper get closer to its actual value. Then the Fed will panic.
AND the dollar is needed around the world to buy oil.
If the world needs fewer of them to buy oil, people ditch them and hold something else.
why would anyone ditch anything that's just demonstrated its ability to double its energy buying power in just 7 months? seriously, what color is the sky in your world, that's crazy talk... that's like saying people would ditch ounces of gold because they are worth more per ounce than previously, so now you need fewer of them to buy oil than you did 7 months ago... c'mon, for real?
When the value of your investment goes up, you want to sell, so since the dollar has increased in price people might be looking to sell and capitolize their gains. That's the nature of investing.
Exactly.
Furthermore, oil is the only thing that HAS to be bought with USD. The buying power of USD in terms of everything has gone up, but it still costs countries real goods and services traded in deficit to get hold of USD; if they can buy other goods via currency swaps with trading partners that would be prefereable for them. So if the price of oil has gone down, they need fewer of them to get what they need (oil).
If oil stays < $60 for an extended period of time, QE will restart. i) because fewer petrodollars will be recycled into USTs, and ii) to bail out shale junk debt holders.
so when all the gold everyone here is apparently swimming in doubles in value in 6-7 months, I should expect all of them to dump it for something else... right... probably for dollars, right? right...
Oil may be coming down yes. But when will large cans of coffee go back to 48 oz? Or half gallons of ice cream go back to half-gallon from 1.5 quart?
Or when will sales taxes go down? Property taxes? Income taxes? Registration fees? Health insurance? Doctor bills? Education?
The USD is a worn out piece of shit. The oil price volatility is part of larger chess game IMO. If it was the strengthening dollar as you claim, wouldn't the price of EVERYTHING be going down instead of just oil?
This is a move by the Saudis and the US to destroy Russia and its ability to threaten the Petrodollar Ponzi. A user posted here some weeks back (and I agree with him) that this is like a chess game where you sacrifice your knight (shale industry in US) to kill the opponent's queen.
Spin it however you want but the death of the Petro Dollar Ponzi scheme will be the death knell of the United States Goverment (registered trademark) corporation.
Then we will have a chance to live without the chains of debt, usury, and badged thugs putting guns to our heads and demanding money for imaginary crimes with no victims.
Sometimes it helps to zoom out from individual trees so you can see the whole foreset.
YMMV
we will go Mad Max for a while.
Prepare.
don't hold your breath like I've said before... indeed it may turn out that way but man oh man do you have a long wait for it coming...
Maria Bartiromo
tit fuck. really, after that she's a waste of 02.
Check this out (with no kids around).
http://www.lairofluxlucre.net/celebrity-fakes/Maria-Bartiromo-nude-money...
and the real deal:
http://thenypost.files.wordpress.com/2013/11/spl653235_005.jpg
Perhaps the Prince invited her to Vegas...
I love squeezing fresh melons...umm, pick them up in your hands (at the grocery store) and heft them...
"Demand remains weak". Global oil consumption has RISEN between 2013 and 2014. In mbpd, it is forecast to be moderately higher in 2015.
Is it me, or has everyone on the fucking planet gone stupid? Why would oil prices be halved on weak demand when consumption/demand has not moved down at all?
http://www.indexmundi.com/energy.aspx
Why should we trust data published by the United States Energy Information Administration?
The data you reference is through 2013. Unless I missed it, there is no data from this source that says "Global oil consumption has RISEN between 2013 and 2014." Nor, "In mbpd, it is forecast to be moderately higher in 2015."
You're entitled to your opinion, but unless you cite reliable data (or, in this case, any data) that supports your assertions, you calling everyone stupid is a bit of an overreach.
Thanks for taking offence, but really it was directed at the msm narrative and this prick Saudi "prince".
http://www.eia.gov/forecasts/steo/report/global_oil.cfm
"EIA expects global consumption to grow by 1.0 million bbl/d in 2014 and 0.9 million bbl/d in 2015." - 9th Dec 2014
Happy now? Please do your own search for "Global Oil Consumption 2014". Here's one:
https://www.iea.org/oilmarketreport/omrpublic/
"(Demand) is now seen reaching 93.3 mb/d next year, from 92.4 mb/d in 2014."
http://www.ogj.com/articles/2013/09/iea-global-oil-demand-to-average-92-...
"Global oil demand is forecast to average 92 million b/d in 2014, up from 90.9 million b/d in 2013" - Sept 2013.
Demand has NOT fallen. To obsfucate matters, demand growth rate is forecast to be, but actual demand in mbpd has not fallen. Work it out. The main reason cited by the msm for the price is lack of demand. That clearly is not true from the global oil consumption figures.
IMO It's not that demand has fallen, it just hasn't increased at the pace that production has. I think that the supply of dollars has been contracted to exacerbate the problem. The Fed is no longer pumping 85B a month into the stock market/economy, and there probably is a concerted effort by central banks to contract the dollar. The prince is right that they are fighting for market share, but those barrels of oil represent the reserve currency the US dollar. We know Russia and Iran are not selling in US dollars so which ever side slows production, that will be the side that loses the opportunity to sell in their respective currencies. The US must protect their status otherwise there will be a drastic reduction in the demand of dollars, and no more unlimited printing. JMO
Bingo! for the price of oil to drop over 55% in 6 months, suggests that there is more than one fundamental at play here, i think its a mixture of all fundamentals including the non conventional QE which inflated the asset price of Oil and the cheap oil ISIS is funnelling through the market at $25 - $35 per barrel.
A perfect storm of shit hitting the oil market.
The Saudis must be pissed with the US, the unlimited printing over the last 8 years has brought about a shale revolution that has brought in a glut of supply to challenge there main revenue as a country. Yet everyone is looking at them to cut the production.....The US cheated the system by artificually establshing a market (shale) to challenge markets such as the GCC and Russia which are reliant on oil and gas revenue.
I agree with some here, that US and Saudi are not colluding together, this is a real trade war following on and in conjunction with full economy warfare.
I noticed yesterday that the US are going to be exporting LNG at the back end of this year.
Thanks mate. That makes a lot more sense. In other words, producers are fighting for market share in terms of the composite mix of commodity and currency. So, when the Saudis/msm talk about reduced demand, they're referring to reduced demand in the petro-dollar. When they deny any attacks on the other (non-dollar) oil producers, they are talking out of their arse.
I've been gagging on the bullshit of explanations in the msm citing fundamentals for the price. Not that I'm complaining about cheap fuel at the pumps! But their silly, insulting outright half truths spouted for public consumption. You've no idea how much time I wasted trying to reconcile their statements with price as a function of demand and consumption.
I know how you feel, thats why I quit watching the news and then eventually tv altogether. It used to make me irritable.
Production and consumption via eia.
http://www.eia.gov/forecasts/steo/report/global_oil.cfm
Try this YHC http://www.zerohedge.com/news/2013-04-06/these-charts-better-not-represe... though its not precisely the article i am/was looking for. There is another somewheres that came out in the summer of 2013 or so - EIA indicating that oil and gas consumption at levels not seen since the 1970"s. I think its a bit of both, but, if it were just a supply problem, the price would not remain at the $48 level for long. However, I think its a demand problem with all economies reporting sub 2 and 3% GDP. Therefore, I think wecould remain mired at this price level for some time to come - all else equal.
cheers
Thanks mate. I'll take a look. My own take on the price is blatant manipulation, but I'm open to any theories that tallies with data.
Cheers.
I agree - blatant manipulation.
Oil accounted for 33 percent of all the energy consumed in the world in 2013. Globally, oil demand increased by 1.4 million bpd over 2012 to 91.3 million bpd, keeping upward pressure on crude prices throughout the year. After two years of declines, US consumption increased by 397,000 bpd – a 2 percent increase from 2012. While much has been made of a slowdown in China, oil demand there still increased by 390,000 bpd (following a 500,000 bpd increase from 2011-2012). Despite the slowdown in the rate of growth from the previous year, this represented a 3.8 percent consumption increase for China, 2.5 times the global increase of 1.4 percent.
Together the US and China were responsible for 56 percent of the global increase in oil demand in 2013. The big difference between the two countries is that US oil production was up far in excess of our increase in consumption, while oil production in China edged up by only 24,000 bpd. This means that while US oil imports declined and finished product exports (e.g., gasoline, diesel, jet fuel) increased, China’s dependence on oil imports continued to increase.
Double-digit percentage increases in oil consumption were recorded by Pakistan, Venezuela, and Azerbaijan from 2012 to 2013, and over the past five years double-digit percentage consumption increases were recorded by Central and South America (15.2 percent), the Middle East (18.3 percent), Africa (12 percent), Asia Pacific (17.4 percent), and the former Soviet Union (12.8 percent). Oil demand in the developed countries belonging to the Organisation for Economic Co-operation and Development (OECD) decreased 5.3 percent over the past five years, while demand in non-OECD countries increased 20.3 percent.
http://www.energytrendsinsider.com/2014/07/10/world-sets-new-oil-production-and-consumption-records/
and then there's this (2014)
China's Crude Oil Imports Surge Despite Slow Demand
http://www.rfa.org/english/commentaries/energy_watch/cloud-10272014105620.html
also this
Global oil demand Q3 2014
Jadwa Investment (JI) reports that according to OPEC data, global demand in Q3 2014 increased by 1.4 million bpd, year on year, with 1.5 million bpd of increases from non-OECD countries and a drop of 0.1 million bpd in OECD countries.
http://www.energyglobal.com/downstream/refining/19112014/World-oil-demand-1643/
keep in mind as production gets more energy intensive (and expensive) and populations increase, oil producing countries will have to keep more and more of their production which means less and less for the rest (See Saudi Arabia's stats). Overall, the emerging countries are driving this demand - more and more people are using the stuff
Thanks mate! Those are exactly the figures I was looking for, while I was posting a reply last night. Been awhile since we shared a thread, but I'm always watching out for your posts. Hope you're doing well this year and wishing you and your loved ones all the best.
As I posted above, I wasted a lot of time trying to reconcile the statements in the msm with price as a function of demand and consumption, just to see if any of their bullshit made sense - to no avail. :). I know it's a waste of time, but I like puzzles that can be solved with data mining.
you too sir, good to hear from you
I have always thought I was being ripped off on the price of gas. Now if we can just get rid of that fucking ethanol and stop fucking up carburetors.
Ethanol is the Progressive Scourge intended to gain votes ... The Only Reason for most every insane government initiative
Something is out of balance
in 1980 a gallon of gas was $1.25, Gold was $850 and the Dow was 900 and the national debt was appx. 900 billion.
Today a gallon of gas is $1.90appx, Gold is $1200 and the DOW is 18,000 and debt 18 trillion.
You forgot the value of real estate, LOL....
So now you know where QE debt money went. Into the pockets of the banksand Wall Street.
Just to put things in perspective, if you adjust for inflation from 1980:
$1.25 = $3.58
$850 = $2436.02
$900 = $2579.32
$900,000,000,000 = $2,579,320,000,000
So, gas is a deal, gold is under value, the Dow is in a bull run and the national debt is a little out of control.
Yes, I'd say there's a "balance issue".
All throughout the 1990s, gas prices were in the $1.20 range give or take a dime.
Using the BLS inflation calculator, it would be in the $1.90 range in 2014 dollars.
Wow, a station down the road from me just hit $1.89 a gallon.
that's what filled up the ride today... US$1.89 regular unleaded
As I mentioned above, paid 1.69 Thursday just outside Fort Worth.
On there being no deal to screw Russia = he's lying.
On oil never going back to $100/barrel = he's lying.
Instead of talking about 'where Oil is going', as if there wasn't a program of Dollar debasement or bubble blowing; you should focus on whether or not the US Dollar is being debased/counterfeited or whether speculative leverage levels at major financial institutions are rising or falling.
How do I vote for both?
Very good point. I didn't mean it to be one of those vote thingys.
I wish Iran shared a border with Saudi Arabia. The Saudis and their bullshit would last about 3 days. I can respect the Persians. I have no respect for the Saudis. Bin Tal or whatever his name is needs to be swinging from a lamp post along with Prince Bandhar Bush.
Aye. When the day of reckoning comes, we're gonna need a lot more lamp posts to deal with these vermin :-)
Saudi Prince Alwaleed bin Talal ... He's not exactly talking his book
Who's to say the Saudi's haven't been shorting the piss out of the oil futures?
Using a JPM trading desk no doubt.
He owns Citi. Produce oil at $40/bbl and short from $100/bbl.
Much as I hate to say it, that Citi Research chart is pretty useful. You don't see that level of data density often.
My takeaway is this is a giant game of chicken for oil producers, who are all betting they can be the last men standing after losing money for months/years and benefit from higher pricing.
I'd short the shit out of real estate in the US shale oil boom areas if it were possible.
"I'd short the shit out of real estate in the US shale oil boom areas if it were possible. "
I believe that some damage is already evident in NY where shale was shot down by the Governor, in PA where fracking is more a marginal play; and is going to suddenly show up in the form of some ugly retranchments of certain regional banks that were enticed to play in the space as their traditional real estate loan demand dried up do to localized overhangs of underwater owner occupied residential properties.
I'm keeping an eye on second tier lenders in NY, NJ and PA that were playing in this space.
Some parts of NY/NJ/PA are in abysmal shape.
http://www.njspotlight.com/stories/14/05/09/nj-still-drowning-in-underwa...
"The report comes on the heels of one showing the amount of underwater homeowners nationally has declined sharply over the past year, to about 10 percent. But again, the news was not good for New Jersey. Black Knight Financial Services of Jacksonville, Fla., put New Jersey at number two for mortgage delinquencies, after Mississippi. It classified almost 13 percent of the state’s mortgage loans as “non current.”
If banks, investment pools and hedge funds were willing to maintain and promptly re-sell foreclosed properties, that would resolve the need for most cities to act according to Baltimore City Councilman Bill Henry, who participated in a press conference with Dreier and Bhatti.
But through his own dealings with the finance industry, Henry determined “they have absolutely no interest in that. They just want to hold these properties off the market until prices rise, they truly want to be speculators.” "
Valley National Bank just dumped some prime retail banking space in NYC for reasons that were not rediliy apparent and the NY/NJ/PA region is where their RE loans are localized...
Take a look at the disasters in Elizabeth, NJ and Newark, NJ.:
http://www.zillow.com/visuals/negative-equity/#7/39.868/-75.212
Well at least it will slow down the free money speculators who have pumped the oil price for the last forever.
I hope JPM and the Squid's tankers have to stay afloat offshore for years.
There is no anti-Russia conspiracy. That's just the Obama adminbistration's way to cover up the real story. It's really an ANTI-US CONSPIRACY. The Obama administration and the left wing he wants desperately to show he's doing something for has two reasons for domestic oil production to fail: The environmentalist agenda and the anti-capitalist agenda. It fits in nicely with Obama's agenda and the Saudis will pay Obama handsomely to screw American oil industry and support them instead of being loyal to his country.
Saudi royalty just another branch of lying scum that plague world.
$200 oil in our lifetime, when Dollar collapses
I posted this earlier today
Just surfing oil prices and past artilces and read this from WSJ on October 29th-
http://www.wsj.com/articles/energy-boom-can-withstand-steeper-oil-price-...
Marianne Kah, chief economist of ConocoPhillips , said oil prices would need to fall to $50 a barrel “if you wanted to completely halt production” in U.S. shale basins. She said 80% of the American shale sector—in which ConocoPhillips is a major operator—is profitable at prices between $40 and $80 a barrel for benchmark West Texas Intermediate crude.
Oil been under 50 for how long now?? drill baby drill
Wait, wait a minute. bin Laden said back in 1998 that real oil price should be $144.
http://thinkprogress.org/politics/2008/07/05/25756/bin-laden-144-oil/
Oh where.. Oh where...
Is Bandar "Bush" bin Sultan these days?... Dead?!!!
How soon Prince Talal has forgotten!!! How can you "be in bed together " when you have friends like a towel headed whore that sucks Zionist Khazar Jew dick that tells you to bomb train stations for them?... Or else!
Just look at how they make those frogs bend over and take another "load"!
When was the last time anyone believed what a Semite had to say?
Lying is sport for these cocksuckers.
Those considering the Saudi/OPEC oil price war against Russia and Venezuela on behalf of the Zionist west, remember, the DC US shale industry is highly leveraged. When the companies can't pay, who is going to takeover the still valuable shale, oil and gas assets for a "printed" song? The Zionist banksters is who.
Though a twist could becoming: I would not put it too far out of the possible scenarios for China to show up as a "white knight" buying into these companies by taking on their debts for equity. Watch for it.
The banksters need to repay us.
Not in my lifetime anyway...
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
just wait'll another fucking bush gets into the fucking white house ... we'll see $200 oil for sure.
By admitting that Saudi Arabia has no control or influence over the falling price of oil, isn't he also admitting that Saudi Arabia would have no control over any higher bounce back in oil prices? And if that is the case, then how can he say $100 will not return?
And if he is concerned over lower oil prices, why would you announce to the world that you are NOT cutting production? Wouldn't it make more sense to announce a cut to drive UP prices, then do the usual OPEC trick of over producing anyway?
And why say in 2011 that you want $80 oil instead of $100 oil because you fear the West will develop alternatives?
And why say in 2013 that Saudi Arabia should be wary of US fracking?
And his price prediction today is full of 'if this and if that' - meaning that he is giving himself lots of wiggle room for when prices rise - such that he can say 'lower production' or 'greater demand'.
And if he admits that Saudi Arabia has no control over oil prices, then is he then admitting that oil prices are controlled by the TBTF banks? And dors he really expect those banks to not try to profit by going long oil and manipulating the price UP?
"how can he say $100 oil will not return?"... Isn't this just demoralizing propaganda?
He's just another of the ones saying random Tweet-sized shit...there IS no master plan for any of this. These folks really have no clue what they're doing, and most of them are probably amazed we've let them get away with it for so long...
They DO realize it's all gonna collapse at some point though, even the ones who aren't 'one of the Rothschilds' have got to see where this is all gonna end up.
If any of you were involved in this you'd be saying all kinds of random shit too I'm sure. I'm waiting for the real sphincter-tightening that's coming though, THEN I'll be paying attention to their funny little babblings...
"And if he is concerned over lower oil prices, why would you announce to the world that you are NOT cutting production? Wouldn't it make more sense to announce a cut to drive UP prices, then do the usual OPEC trick of over producing anyway?"
Apparently you missed their position on "market share". The point is precisely NOT to cut production while flattening the price to drive out others in the market. If you announced a cut to drive up prices before you pushed out other producers, you will collect less. Why am I explainign this - it's all in the article.
And an Arab would never lie... LOL.
Not more than your average Ameweekan punk, for sure, 100 years nat gas and all that, lol...
Global slow down
Economic crisis around corner
Red Flags.
http://ih.constantcontact.com/fs167/1104412490796/img/1458.jpg
Apparently there is a photo of prince raghead bent over a chair and Larry Kudblow is drilling drilling drilling.
Larry will drill till he sees the green shoots, dammit!
Saudi is going to wage this oil price war until it has destroyed both the Marginal High Cost Producers [Shale Oil, Tar Sands, Deep Water, Arctic} and layed waste to the Russian Federation. Really a win, win for the Saudi low cost producer.
The plunge has been dramatic, but oil is subject to supply and demand like few other products. Once the oil starts backing up in tanks and tankers, and the bid is not there for delivery, the price can and will fall hard and fast.
Saudi did not like the oil rush in the USA and Canada. Watching market share evaporate as these two prodcuers on the margine gained absolute share in North America. But marginal producers can be crushed by the Low Cost Producer in the Room, i.e. Saudi.
The USA has accepted the damage to US producers in Shale as the ultimate cost of waging an all out war on Russia, to allow the USA to then pivot to Asia and destroy China. We are talking about World War three being fought with economic means and by proxy wars. Soon China will see rebels in their western provinces come together around tons of money and arms supplied by the CIA.
We should stop kidding ourselves. The US Neoconservatives have decided they must move now, before China grows bigger, and before Russia modernizes it's economy. All aggressors know that you fight a One Front War, if you want to win. Thus congress declared war on Russia, and Obama is using every tactic short of a nuclear attack, or ground invasion, to destroy Russia. Once that enemy is a collection of EU and USA puppet kingdoms run by CIA members, like Ukraine today, then they pivot east for the real World War three. China.
Along the way, Russia has now woken up to World War three. I listen to sources inside their media and government, and many of them are saying that war can not be avoided, and Russia is putting it's military on notice that fighting will happen, either proxy or a full on NATO. China, I have no sources there I know or trust, what they think of all this, someone else will have to comment on!
Russia is ready. The bear is awake and pissed off. The recent push by Kiev in the Donbas is an obvious precursor to a large scale attack by Kiev to fully capture the Donbas. The attack from Kiev is expected within weeks, late winter or early spring and Russia will not let this happen. Russia understands that if the Donbas is lost to Kiev and NATO, the Crimea will be next and full scale war is inevitable. It is hard to understand the neo-cons, they either think Russia is going to blink or that they can survive the aftermath of WWIII. I am sure of one thing, the neo-cons are psychopaths.
I don't see it happening. I think the Ukie army will lose again in Donbas. They will get in another cauldron where Givi, Motoola and Mozgovi will chew them up.
Also Chechnya will send 20,000 volunteers if Kiev pushes on Donbas. I would guess most of the Ukrainians hate the Kiev govt. They had a protest against IMF ausyterity and then Porky pretty much banned any demonstrations. The young conscripts and other men in the Ukrainain Army do not want this war or any war. The Ukraine Army is the 6th largest army in the world and have been beaten soundly by a militia. In their defense - they don't want to fight their neighbors.
As far as fielding an army against Russia - who is going to fight? Germans? Poles? Americans? American soldiers are lower than illegal aliens - this is what Obama, Democrats and RINo Republicans said before Christmas in not stopping Oboma's amnesty. American troops are cannon fodder for Obala. I think many are waking up. . This is why the Pentagon wants illegals in the US Army. Just like Rome when it was imploding.
You are also seeing Germans rising up against Merkel-NWO-EU islamification. Marine LePen rising in popularity along with Geert Wilders.
I think the vermin in the background know Europeans are as fed up as Americans as are most Ukrainians. I think this whole thing in France was to distract the masses anger away from the criminal EU-USSA-NWO govts.
Russia and Putin are not going anywhere. God help anyone who decides to fight them in a ground war.
The solution for the young Uki conscript is to cap their commanding officer and trade his pistol for lift tickets in Sochi. Peace would break out quickly.
Kiev is desperate as are the puppet masters. The running joke, the US/NATO will fight Russia to the last Ukrainian. Expect one more big push late winter or early spring. I doubt that 20k Chechen fighter will find their way to Donbas in support of Novorussia, maybe a few thousand is more realistic. Just keep in mind Kiev is desperate and ruthless, they know if things go badly for them they will be hanging from the lamp posts.
Jack Burton:
"The USA has accepted the damage to US producers in Shale as the ultimate cost of waging an all out war on Russia, to allow the USA to then pivot to Asia and destroy China. We are talking about World War three being fought with economic means and by proxy wars. Soon China will see rebels in their western provinces come together around tons of money and arms supplied by the CIA."
My comments:
China´s weak spot is that they depend on exporting cheap junk and consumer electronics to the US and Europe. Everything they produce, except rare earth minerals, can also be produced in Taiwan, South Korea, Japan, Mexico and Eastern Europe. I just can´t understand why the Chinese build railroads in the Balkans in order to facilitate exports of even more cheap junk to Europe rather than build aircraft in China (instead of exporting cheap junk in order to be able to pay for imported aicraft). The Chinese do not seem very interested in minimizing the political risks that their export industries face. If they intend to depend on exports to Europe and the US they should also try to influence politics there by buying media and politicians. But they don´t do that. Instead they are building railroads in the Balkans. I guess that they will be very surprised if the US and Europe one day decide to produce cheap junk elsewhere in order bring jobs back home or to neighbouring countries.
Sorry but the Chinese already have the technology and the manufacturing lines and their machines. China can use NK to cause disaster in SK. Taiwan they can blockade. Japan is spiraling down the drain, and their shit is expensive. Mexico is falling apart, Eastern Europe are programmers, they dont have nimble hands.
Russia will not be destroyed by the US
I read the book
NWO will be clay and iron mixed
a weak coalition
stop feakn out about Russia being eliminated
the US will suffer just as much
You went right out on the limb there Jack.
I don't presume the US will go for war, direct or even indirect if it can avoid it. Everyone here seems to just presume that they will go for war. (the WH did say clearly there's no military solution in Ukraine, last I looked that had not changed, and yes, you can dispose of that claim, but why?)
I don't easily accept the zh commentariate 'consensus' assumptions on these things, as it's rarely to never accurate, let alone right.
It's suicide, the US and Europe and Israel (and many, many others) would be completely destroyed, I'm sure the Pentagon and NATO HQ, at the very least, know that.
And no need to destroy Russia anyway, we have lived with a deadly Russia for a very long time now, they have had at least the same or better restraint.
What on earth makes people think we won't just do that again? We could have said the same things about kerfuffles in Eastern Europe in the 50s and 1960s.
Yeah, I know many strange (and I think terribly warped) minds have bought into an extreme Zionist global-war plot conspiracy thingy. OK, whatever, I do not, it smacks of cheap populist bullshit spread by hopelessly deluded provocateurs.
But the idea that 'they' are gunning for a nuclear war is completely fucking absurd. I seriously don't think so.
If I were this wicked z-force and wanted a nuclear war, here's how I'd do it - I would launch one this very second - DONE!
You do not need a special setup, you put forces in place, with a plan, and you let it rip.
The idea that there's this deep subterfuge going on, as a swashbuckling preparatory setup plan of action towards a nuclear strike by the forces of the zatanic-what-the-fucks is a pretty clear-cut indication of the value of that muck.
Tell me, if the zio-dicks need to take out Russia, why didn't they do it when they had a joo Eisenhower White House and Master-Bastard General Curtis Lemay in SAC, and a massive thermonuclear plus delivery platform superiority against the Russians and Chinese?
The same reason they won't now.
Only it's even less likely, the US no longer has the political will, the unity, the surprise, nor the hardware advantage it once had to pull it off ... 'successfully' (ok, ok, let's call it 'acceptably' then).
Suggest you rethink your strategic matrix sans that stuff and see what you get.
"You do not need a special setup, you put forces in place, with a plan, and you let it rip."
Not saying I agree with the position you're arguing against, but it looks like you basically describe "a special set up" after you say that you don't need one. The argument further degrades with the nonsense about "zio-dicks" wanting to take our Russian. Ike wasn't a Jew and perhaps their goal back then wasn't to just nuke Russia.
I'm following the argument - criticism - at the beginning, and then it falls apart. Pretending that someone is "gunning" for nuke war is a pretty obvious strawman.
There's no 'setup' implied.
There's a strike plan, you fuel and arm aircraft, lauch some tankers, place sensors on alert, put various people, subs and aircraft where you want them, then launch. i.e. High Readiness posture
The "zio-dicks" remark is only highlighted in that way simply to refer to the way these things are commony being discussed in here, I could have said another term, like ZATO, or some other.
According to Eisenhower's own readily admitted words, plus his geneology, you are very clearly wrong about that.
http://www.jewwatch.com/jew-leaders-eisenhower.html
err ... but they nuked NO ONE, at all.
Therefore the evidence that exists is they had no intent to nuke anyone. QED
(they certainly had strike planning to strike scores of countries if need be but that's a different matter)
So the huge US arsenal buildup was in fact used only as a deterrent.
You apparently don't read too carefully, the 'gunning' for nuclear war is the general conspiracy-thesis that people in this place keep asserting to be so. All I'm saying is it does not stand up to analysis, it's completely speculative baloney that people keep effectively asserting to be fact. So who's making a 'Strawman'?
Well I'm sure not ... but it looks like you just did.
Prince Tellall is full of Bullshit. This is a pissing contest to get the small operators out of the way. We are starting to see a few small guys fall and for every month this pissing contest lasts will mean more insolvent and bankrupt companies being bought for pennies on the dollar. When the shake down is complete prices will go right back up. btfd.
That is pretty much what a friend of mine in the biz tells me as well.
Soros and big oil will buy them up for pennies. This is all part of the plan.
Isn't that basically what he said? Or is your oligarch-to-English translator broken?
This is an apology for the usual and customary energy commodity cycle. The drop in oil prices was predicted months in advance. And I'm willing ot bet 10^100 $$ that in the next couple of yers we will see oil well above $100. Before the next dip in the cycle...
$100 oil had been a Saudi construct for years. They simply cannot maintain the fasade any longer. Too fucking bad. I do feel for all the oil pepole who will lose their jobs but the price has been artifically high for a decade or more. The OPEC monoply is probably done for good. Just try to get with your fellow retailers here in the US and try to set prices on any goods or services. We have a name for that. Since it's a commodity that everyone has to have it was allowed. Such a wad of crap
Saudis aren't hurting as much as others. They already have their oil rigs. They do not have as high expenditures looking for new oil or things like shale oil. They are just pumping the wells they have.
Pumping them lower and lower, the day will come.
Just a question. Could the collapse in oil prices be the black swan that we are looking for? If the oil price drops so low could the USA unpeg from the petro dollar system to where the IMF will institute the petro SDR that also implements it's global carbon tax?
This could be where countries switch to their gold backing and nations will settle their balances via gold once it's revauled or default all at the same time.
Who the fuck knows. Szhust askiink kveschuntz.
Yes, the drop in the price of a barrel of oil may have begun as the Saudi 'flogging' of Russia at the command of "the nation that must be obeyed."
But it soon turned into something else. "What a clever girl am I", said Mickey 'Victoria Nuland' Mouse as she tried to halt the damage that her dual purpose broomstick had started to disseminate globally.
She had projected her own world class gluttony onto Putin and the Russians and consequently never thought that Russia would embargo 10's of billions of dollars of foodstuffs from Western Europe.
When Russia's cash payments to thousands of farmers and meat producers and flower growers in the west dried up, the EU's already rotten economies, began to reek.
And the demand for oil of Europe's community of 350,000,000 citizens fell.
The danger of a major European basket case threatened even Jabba the Hutt in the holy capital of the West, who was forced to call the king of Saudi Arabia and instruct him to cut the price of oil in half ($50) and give the Western European nations a discount on top of the oil cut, lest they all go Chapter 13.
"And the demand for oil of Europe's community of 350,000,000 citizens fell"
Sure you're not conflating 'demand' with 'consumption'?
Anyway, still waiting for your evidence that the global consumption of oil is now falling off a cliff, or "fast declining".
You're right. I should have said 'consumption of oil' and not demand.
Consumption and demand are occasionally different, occasionally the same.
And when they are different, demand is always the larger number.
I have no real evidence that global consumption is falling off a cliff. Just some anecdotal stuff about the economic hardship in Greece, Italy, Spain, and France. Slower growth in Germany and England.
And, yes, I conflated the weak economies of some of Europe's largest nations with falling consumption.
At zh some of us feel that the Saudis have driven down the price of a barrel of oil to punish Russia for their flagrant breach of Washington's Ukraine directive.
While others think the low prices represent the altruism of the House of Saud, keeping their long time customers afloat and able to remain customers in happier times.
Still others believe that the low Saudi prices are aimed at the American shale oil industry, as if the Saudis would attack an American business without the express approval of the Darkie in Chief.
dbl post
How dare you call me Anti-Russia!! That is, you will be beheaded, family will be thrown in jail, all your friends & relatives will get slashes. Don't you dare to draw cartoon on me.
Also, does the attack on shale not prove that the propaganda about shale being just bs and empty wells all a bunch of bs itself?
Read the stitches in the fastball gets easier and easier each day.
No, it just proves that they lied when they said what the break-even point for a barrel of shale was.
Yeah, big reserves really hurt.
If you have the ability to crash a market by flooding it with product, you have the ability to place your bets on that market as it goes down, and as it goes up
When you have big reserves in a world where currency is degrading, you might as well manipulate a market and increase your reserves, while you destroy your arch enemies
It also shows how the Saudis have been screwwing the West with artificial pricing.
Sad part of the story: average americans so destroyed they will be grateful for the cheap gas that signals another attack on the system. Like throwing corn cobs to the deer before you shoot them
This is what happened with Obama's solar slush funds. Bogus companies set up to build bogus product, brand new factories, overbuilt, sold to the Chinese for pennies on the dollar. Not sure they didnt ask the Chinese in advance what they wanted us to buy for them.
Chinese had been buying into US oil assets, at 30 percent ownership. Of course, now Russian oil becomes a lot easier for them
http://blogs.wsj.com/deals/2012/03/06/chinas-footprint-in-us-oil-a-state...
Oil will be back to $100/barrel, but Citigroup stock will NEVER see $100/share.
As I've been harping for weeks, KSA is in a position to induce the Bankruptcy and the Buyout of other Petrol Producers(, Renewable Providers, and Nation-States for that matter) - for the Ultimate Prize of being "The" Dominate Petrol Power.
They don't need the USD - they've plenty of it ;and the QE simply devalues their holding.
Their SWFund's growth and scope are self-sustaining.
They've plenty of Gold on their hands.
The Five-Eyes' MIC are at their beck and call...
Looks to me that they're positioning themselves for the Power Grab as a means to ride out any changes in the Petrol/Energy Status Quo - and any Domestic Peak Oil problems they may have been hiding. ^_^
the only thing he denied is the only thing that is true.
everything else is noise.
wow we are going to get an oil crash for sure
this is all part of Putins plan to make the shale reserves in Ukraine so unprofitable the west leaves it alone.
/sarc
The Prince is in bed with Citigroup~
Prince Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company. In 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
http://www.kingdom.com.sa/prince-alwaleed-receives-corbat-of-citigroup
Which just goes to show you can't bake your bailout and eat it too...
KHC is the largest foreign investor in the US and one of the largest investors in the Middle East region.
http://www.kingdom.com.sa/investor-relations/investor-facts
Right, no reason to not believe the largest holder of Shitigroup.
http://dealbook.nytimes.com/2015/01/11/as-oil-prices-fall-banks-serving-...
"Tumbling oil prices are dimming one of the few big bright spots that banks have enjoyed since the financial crisis.
Banks have been lending hand over fist to companies in the nation’s energy industry, underwriting bonds, advising on mergers, even financing the building of homes for oil workers. All of this has provided a boon to banks that have been struggling to find more companies and consumers wanting to borrow.
Yet with the price of crude oil falling below levels sufficient for some energy companies to service their huge debts, strains are being felt and defaults are likely. While it may take some time for the crunch in the oil industry to translate into losses, one thing already seems clear: The energy banking boom is over. "
Now, about Citi being forced to divest itself of PhiBro in order to access certain .GOV guarantees during the 2009 bailout phase...
http://en.wikipedia.org/wiki/Phibro
"The company was founded in 1901[2][3][4] as Philipp Brothers.[5] It was later acquired and became the Philipp Brothers Division of Engelhard Minerals & Chemicals Corporation. In 1981 the company was spun off as Phibro Corporation, and that same year the company subsequently acquired Salomon Brothers, creating Phibro-Salomon Inc.[6] Phibro Energy, Inc. was established in 1984, absorbing the oil department of Philipp Brothers. In 1986, the combined company removed the Phibro name from the parent company.[7] In 1993, Phibro Energy, Inc. became the Phibro Energy Division of Salomon Inc.[8] It was renamed to simply "Phibro" in 1996, and in 1997, Salomon was acquired by Travelers Group, which merged with Citicorp to form Citigroup in 1998.[7] With the merger, Salomon became an indirect, wholly owned subsidiary of Citigroup.
Phibro came to the notice of the public when its leader, Andrew J. Hall reportedly was seeking a $100 million bonus from Citigroup, which had been bailed out by U.S. taxpayers in 2009. Reportedly Phibro was the main source of the $2 billion in pretax revenue Citigroup received in commodities trading.[9]
In October 2009, Occidental Petroleum announced it would acquire Phibro from Citigroup, estimating its net investment at approximately $250 million.[10] Phibro is now part of Oxy's "Midstream, Marketing and Other segment", which includes Oxy’s gas plant, pipelines, marketing, trading, and power generation operations.[11] Hall continues to run Phibro and also heads Astenbeck Capital Management, of which 80% is owned by Hall and 20% by Occidental. "
http://www.nytimes.com/2009/02/28/business/worldbusiness/28prince.html
"For Prince Walid, the developments at Citigroup are a stinging embarrassment. In November, he made a public splash by increasing his Citigroup stake, thus becoming its largest shareholder when the government carried out its second financial rescue.
Asked in an interview on CNBC if he could foresee Citigroup requiring additional government money, and if he would invest again, the prince responded with his typical flair.
“I believe this is a very far- fetched situation,” he said, saying that in his many conversations with “Mr. Vikram,” as he called Vikram S. Pandit, Citigroup’s chief executive, he had been assured that the bank would have enough capital for the next 12 to 18 months. “This is cherry on the cream and we will take it.”
Prince Walid could not be reached for additional comment.
As befitting his status as a Citibank savior, the prince has received special investor care. For many top Citigroup executives, a ritual pilgrimage to see him was expected. Sanford I. Weill, who created today’s fallen colossus, was a frequent visitor to the prince’s tent in the desert. His successor, Charles O. Prince III, as well as his recently departed chairman, Robert E. Rubin, also met with the prince frequently.
Early this week, Mr. Pandit phoned Prince Walid to propose that he convert his preferred stock — which would no longer pay a dividend — to common. After speaking for a few minutes, the two put their top lieutenants on to discuss the confidential details, people close to the situation said.
From Citigroup’s Park Avenue offices, Gary L. Crittenden, the chief financial officer, reviewed the transaction for about 20 minutes with the prince’s head of business affairs. With Citigroup’s preferred stock trading at around 20 to 30 cents on the dollar, the bank held out the carrot that investors might be able to convert it at a premium to its current market price. "
Look at the UPSIDE ... at least Saudi will have less money to fund terrorists around the world !!!
guess the CIA will have to pick up the slack
lol
Hello, Janet. We need to talk - about those videos.
"Q: What about the theory of the pressure on the Russians? There's a theory that the U.S. and the Saudis have agreed to keep prices low to pressure Russia because of what Putin has done in Ukraine.
A: Two words: baloney and rubbish. I'm telling you, there's no way Saudis will do this. Because Saudi Arabia is hurting as much as Russia, period."
As much as I despise the Saudis, Alaweed is right about this.
The real question is who is more masochistic. It's a tough call really.
he is a shill to divert attention from the Kerry-kIng agreement - the Democrats will lose in 16' from the massive UE and BK's
Once Russia is attacked the price goes to 200 and they make up the loss
I dont think so wooten....Do your research in regards to how much saudi arabia needs oil to be for a profit and how much russia needs oil to be to make a profit....This hurts russia alot, but saudi arabia is still making a profit. That is why it wont go below 46 dollars a barrel, because then saudi arabia would lose money....And its saudi arabia that caused the drop in oil prices....the camel jockey is a liar.
maybe again this is targeted at US debt/ ECB.. ie US was improving and Germany reluctant to allow ECB to do QE.
Suddenly oil drops, so pressure is off the FED to raise rates (which could expose the debt issue) and the decline also makes it difficult for Germany to stop QE now. I wounder if after ECB announces QE (more bullets to support US/Japan debt) the US/Saudias will push oil back up majically..to help out the US producers.
The Saudi doth protest too much, methinks.
Ah, that is not entirely true:
A: Saudi Arabia and all of the countries were caught off guard. No one anticipated it was going to happen. Anyone who says they anticipated this 50% drop (in price) is not saying the truth.
Some crab-specialists on Twitter did see a drop to 50% (<>55-57) coming, month before it was there. We must admit that we saw some re-up to above 70 then but instead it dropped to and below 40%, that did surprise.Ahhhh, who gives a flying fark at a rolling shale hole?
[in my best Austrian accent] "Dis is getting better by de minute."
Cue the sexual tyrannosaurus' and slack-jawed faggots.
Bailiff, another bottle if you please.
Going to be a great week to be long UVXY
... re-arrange "SAUDI PRINCE" and you'd get ...
... "A PIS INDUCER" ... :)
runners-up are :
... "PURINE ACIDS" ...
... "DIP IN SAUCER" ...
... "IN DRIP SAUCE" ...
... "I'D RUIN SPACE" ...
... "SURE I'D PANIC" ...
..."CRUISED PAIN" ...
... "UNPAID CRIES" ...
... "RANCID US PIE" ...
... "RIDE US PANIC" ...
... "DIRE US PANIC" ...
... "UNRIPE ACIDS" ...
... "A DICIER PUNS" ...
... "URINE SAC DIP" ...
... "EPIC US DRAIN" ...
... "SAD URINE PIC" ...
"Saudi Arabia and Russia are in bed together here... both being hurt simultaneously."
More like "they are in the pool together, Russia's head is being held under and it's a matter of who can last the longest".
Both can last longer than the US, buddy.
http://investfts.blogspot.co.uk/2015/01/dont-be-bag-holder.html
Don't be the chump in these markets.
oil is still cheap
Oil is cheap.
A bottle of water is more expesinve than a gallon of gas.
I'm buying oil all day here. I'll hold it for 2 years or so.
Saud's can not mantain this price. PERIOID.
What is going on here? Nuclear blackmail ?
I guess we will find out soon enough
http://blog.smartmoneytrackerpremium.com/wp-content/uploads/cotd-1.png
Russia is the shining city on a hill compared to Saudi Arabia.
Their citizens are no better than negroid slaves in dresses and Daisy Mae keffiyeh.
They better not have an opinion about anything if they don't want a 1000 lashes. Even the demented English knew when the enjoyment of public punishment crossed the line.
There's also beheadings and chopping off hands, but we should save that for when the Prince returns for rebuttal.
Oh, with all tha human rights abuse, they are America's Best Friend Forever.
So is mike maloney right?
Part 1 - http://m.youtube.com/watch?v=uzef43gdupk
Part 2 - http://m.youtube.com/watch?v=0Wrrzsrb-wg
Who empowered these useless camel jockeys?
Wasn't there a movie about that?
I guess I'm in the minority here, but I think it is really Saudi Arabia vs Iran.
So one little rusty Oil Tanker, ( fully Insured of course ) filled with mostly water & enough crude to make a nice ass slick. get mysteriously Missled while in the Straits of Hormuz. bombed torpedoed or whatever, prices spike, Sauds collect insurance clean up their shore with American Volunteers and the whole world is happy again. as i see it there should be a race to see who is the first to get their tanker into position, hell go for three talk about Impact, or maybe that would be a little too obvious and hard to cover up. can't believe nobody mentioned this obvious scenario
We just had two refinery fires in the northeast yesterday.
One in Ohio and another in Philly.
Oil prices are like a fickle bitch.
A clock is correct twice a day. Deflation, or inflation? We may all die before the fiat currency system implodes like so many here say. I do believe that at some point it will cease, just not as soon as many of the readers of ZeroHedge think. If the Fed's don't want gold, we won't have gold as a replacement.
So, Mexican Standoff until players' arms are too tired to hold up their guns.
"Even in Libya, where they have civil war, they are still producing."
They sure are, some 200000 + bbls/day. Of course, that is down from 1.6 million bbl/day.
But hey, with the world 'awash' in oil, might as well light 'er up!
http://www.reuters.com/news/picture/photos-of-the-week?articleId=USRTR4KN1S
Is baloney even permitted where he is to?
"But I'll tell you Saudi Arabia and Russia are in bed together here. And both are being hurt simultaneously. And there's no political conspiracy whatsoever against Russia. Because we are shooting ourselves in the foot if we do that."
I told you so - Saudi and Russia are working together to trash U.S. shale.
And when that's accomplished, Saudi will join the anti-petrodollar axis. The U.S. didn't keep their side of the grand bargain concluded over the petrodollar - Russia has convinced Saudi to conclude a new Grand Bargain - against the petrodollar - put it down in writing in O'BlowJamma's legacy.
This is why Putin's Russia is so damn dangerous to the U.S.-centric OWO.