OPEC btfo

If you've had your fill of rage headlines today, take a look at this one and smile

archive.is/OFMZN

STOP BLUMPFING OIL SLUMJPER BERUMP

HAHAHA FUCK THOSE CRYPTO KIKES

BUMP

whatever happened to "peak oil"?

shh, we don't like talking about that anymore.

The world is going to run out of oil 10 years in the future.

No matter what year it is you're starting from.

THANKS OBAMA

...

please keep these up gives me a hearty chuckle each thread

Too bad Ahmed.

RIP the last remnants of Venezuela's economy

American engineering killed it.
That was climate science bullshit, We in the Trump timeline now Mr.Burger

>thanking Obama for being too inept to cut oil production the way he wanted

I bet you think he secretly WANTED all those people to buy guns, too

what goes around comes around

No, thank Fracking.

Obama tried to stop it. Trump has embraced it.

>thanking obama for oil
>meanwhile, obama issues moratoriums
Leaf, don't even fucking try. Fucker killed the local economy for years.
Oil was the only thing saving us from the housing bubble too.

Obama tried to help his gay buttbuddies in Saudi.
He was always a Muslim Brotherhood agent

We've been out of oil for over a decade now from the last projections I remember.

Seriously please stop. You've destroyed our entire economy. I thought we were friends. Also you'll run out soon at this rate.

I love how Obama is actually credited with anything that happened despite him trying to fuck it up.

Until we figure out how to get the trillion barrels out of shale in the interior west. Then we're chillin for a while

Yep, fresh outta oil. All gone.

That was only 20 billion barrels. Just Kuwait has over 100 billion and they'll be out in less than 50 years even though they dont pump as much as the usa.

>leaf in charge of math
Canadian education, everyone.

U.S to OPEC : please stop funding terrosim. we know the saudi royal family funded 9/11 its in the fucking 9/11 commission report

Maybe he was just trying to stop peoples tap water from burning

What ever

>The cartel has in the past fought fiercely for its market share. Starting in 2014, it pumped relentlessly in order to squeeze higher cost American producers.
The strategy pushed prices well below $30 per barrel and forced many U.S. producers to scale back in 2015 and 2016.
But it had a disastrous effect on the government budgets of OPEC members, forcing them to implement austerity measures.
It also forced U.S. producers to become more efficient, and they can now withstand much lower prices than just a few years ago. Analysts at UBS estimate that U.S. producers can now make money as long as prices remain above $40 per barrel, down from $65 in early 2014.


OPEC BTFO
THEY WENT AND SHOT THEMSELVES IN THE FOOT. SIMPLY EPIC.

How does one elevator contain so much texas?

Also we have 150 billion. Youre whole country has less than 60 billion barrels with the newly discovered oil included. You pump 11 million barrels daily.

>huffing leftist propaganda

Why do you hate progress?

Shit the major US oil companies (can't speak on other non-OPEC companies) have prospects out the ass. The big ones are in northern Alaska and Texas. We also have a tremendous amount of natural gas and "old" reservoirs that we can "jumpstart" using new techniques.

OPEC has been shitting themselves for a while now because of the west's clear technological superiority

t. petroleum engineer

They should have known better than to mess with the best.
Imagine if we had a Republican President when they were doing this.
But this is also factually wrong. The fuck are you smoking, leaf?
Getting on the internet and lying like that. For shame.

What did I say that was wrong?

In your post? You obviously have no clue what you are talking about.
Its pretty funny, honestly.

>Flood the market in an attempt of economic warfare aginst the US and Russia
>back fires and gas is no 1.50/gal where I live with no signs of slowing and market actually growing with a need for domestic energy growing as well.

>p-pls stop...

select all gas stations.

Yet your white country lives off of corruption money. Canada is a non country at this point.
Australia at least has the union jack in it's flag.

Corruption money from chinks*

Businesses are organisms, they applied stress to the American ones so they adapted.

>bragging about how much oil your massive, sparsely populated and lightly defended country has
>when you share a border with fucking America
day of the rake soon

Where do you live that gas is $1.50? Gas where I'm at is a whole dollar more per gallon.

Lol
You can always count on Japan to bring the heat

hello Sup Forums process engineer here who works at a polyethyelene plant in Freeport, TX for Dow Chemical here are my two cents.

One of the reasons why OPEC cut production a while back is because they inflated the market with oil which caused them loose billions of dollars. This is because at the same time, we kept on increasing production via fracking and other methods. The Saudi's plan backfired due to American ingenuity and hence why they lost billions of dollars. BUT, I promise you that if keep over producing to the same levels the Saudi's did we will be in the same boat as they are and loose billions of dollars. The moment oil gets below $40 a barrel we essantially fucked and OPEC will begin to make money once again. We must play our cards right and not fall into the same trap as the Saudi's did.

Glorious Dixie

We figured out how to get more and all we had to do was poison the groundwater

Fuck off Russia

Thats hilarious. You realize Russia doesn't have the industrial capacity to compete with OPEC + US let alone one of us individually? I am just stating what is likely to happen. Everything happens in cycles, oil prices will go down eventually if we overproduce just like the Saudis.

Wtf lol
OPEC takes advantage of shortages literally every single time they occured to line their pockets.
Truly the muslim jews.
That's at least why I tenatively support the Iran deal. Letting Iran glut the market with oil keeps prices low (good for me). Keeps the Saudis honest (good for me). And keeps American produces efficient (good for me).

I remember when people flipped their shit when Brent was down to $25 a few years ago. Going forward I think we will begin to flux the production and the US stock piles for stabilizing the market and buying a lot less OPEC oil.

But I could be entirely wrong.

link?

He's right though, we need it to be over $40 per barrel or we don't make money when producing

>whatever happened to "peak oil"?
we're very close to peak oil. frack wells fizzle out quickly. That is why so much oil is being produced - the small independent fracking companies must keep drilling to replace wells that are often less than 12months old.

Does OPEC make money when oil is under $40 a barrel?

There are 13 layers of oil in the Permian Basin...13 oceans of oil yet to be exploited.

Last I checked oil was down to $43. It's up to $47.

Yes...on lifting costs of $7/bbl. But their social programs demand $100/bbl

Turns out oil is actually renewable.

this is blatant bullshit, no proof whatsoever

House of sauds are Jews ask any Arab outside Saudi Arabia

there is no such thing