Doesn't anyone keep up to date with the latest science? The earth produces its own oil - abiotic oil. http://www.viewzone.com/abioticoilx.html
Nando.
Doesn't anyone keep up to date with the latest science? The earth produces its own oil - abiotic oil. http://www.viewzone.com/abioticoilx.html
Nando.
John you don't understand the drivers behind oil prices. For this drop in prices, the gloomy INTERNATIONAL economic outlook is responsible. The pussies on Wall street are getting out of energy stocks and the speculators in oil futures are betting that oil consumption will flatten as the global economy contracts.
On the horizon, there is going to be an oil glut if the laws against exporting crude are not reversed. We are rapidly approaching the point where we will be producing more than we can refine, and with more borrels chasing only so many refineries the price of domestically produced crude will go down.
Oh I understand all to well. Production will be cut in the middle east, blown up in Iraq and the refiners will switch from summer to winter blends and throw much more cpacity at heating oil hence reducing supply and escalating prices. Probably be a good time for half the refiners to do some refinery repairs and shut down half the capacity. There maybe an oil glut but don't expect that to directly effect prices.
I hope I am wrong but not betting the farm against higher prices. BTW I paid $2.79 per gallon today. Will Obama get credit for lowering prices? No so why did he get blamed a few years ago?![]()
Yep and as oil prices drop the sources that need $100 a barrel oil to be profitable will start producing less and less. US Shale oil comes to mind. The Saudis, Russians, Iraq, Iran. Nigeria, Venezuela and Libya need oil prices over $100 a barrel to break even, ok the Suadis only need $93 a barrel, but how long do you think they will go before they cut production?
I'll wait and see.
The Saudis need 20 dollar oil to break even...
WOW!!! 450HP!!!
You are killing the IS black market as well, mind you and the Saudis are themselves betting that Europe and China will pick up the slack so they can work on VOLUME. This also puts heat on the Russians.
I am not sure you have this all figured out and that it's probably working for Obama, although in the opposite way you think it is.
Don't get on all those Hasenpfeffers losing their minds.
Your avatar runs forever and never gets anywhere....