Gas is the cheapest it has been in a long time.
I read this week that we are exporting more then OPEC, is this true and how long has this been going on?
Does USA have enough oil to power our own country and for how long could we do that?
Is there things going on in Middle east that is responsible for this oil prices right now and what are they?
How does Venezuela factor into oil prices right now
Does Wall street have any effect on this and what is it?
any other redpills in regards to oil?
Other urls found in this thread:
forbes.com
archive.is
bloomberg.com
bloomberg.com
en.wikipedia.org
oilprice.com
youtu.be
twitter.com
Our oil reserves were
1) wealth
2) tactical advantage in a conflict
Especially as the stores of other countries ran dry after "peak oil".
This is just a guess, but I'm thinking globalists dislike that and are doing something about it.
The U.S. is creating a glut of oil right now in an effort to destabilize Russia. We're practically selling oil at a loss, but we keep pumping it into the market.
This is to hold Russia back from becoming EU's primary supplier of oil so that Syria can be destabilized enough for the world to think the Israelis are more civilized than the rest of the Arabs (they are not) and let Israel annex large portions of Syria.
ISIS is, of course, working for Israeli-Saudi interests to destabilize both Iraq and Syria as Israel sees Iraq as its prize as well.
Meanwhile, Venezuela has an economy also based on oil, so these actions are having a direct effect on the Venezuelan economy, which is exacerbated by the fact that gas sold to Venezuelans is heavily subsidized and Venezuelan people are lazy and entitled and just want the gibs.
Also, forgot to mention - Communist (((Kurdistan))) will become a thing unless Turkey has their say.
Of course, Greater Israel will then enter the oil market with the reserves they steal from Syria/Iraq, giving them the cash flow to start building Imperial Zion, and they will close down access to Palestinian territories in the West Bank that they have been encircling with settlements for the past few decades. Poor Palestinian goat farmers will struggle to get grain and supplies for their herds, which will result in famines. Israel will actively block aid to Palestine so that Palestinians will die from starvation. They see this as payback for the Jews who starved to death in Nazi camps.
NET
OIL
EXPORTER
We fought in iraq to get that oil but would have been better off spending the money on subsidizing fracking and the like.
>We're practically selling oil at a loss
No. Most US producers can make a profit at 40 a barrel.
forbes.com
Please archive it
archive.is
Yes, and it hit $42 a barrel last week. If Trump "unleashes" American energy like he says he will, that price will go down even more.
Fracking still costs a little more than that, too.
THANKS OBAMA
Don't worry tho, Trump will get that oil price back up to help his buddy Putin. Just like Bush sent oil from $30 to $140
long oil boys. you'll thank me later
THANKS OBAMA
...
>this is fucking real
god damn
No, not through central planning, if anything Bo did his best to slow domestic.
You'd think, but not subsidizing fracking actually made fracking about $25/bbl cheaper. MARKET FORCES
yes
Obama put caps on exploration. What drove the prices down was the sauds dumping oil on the market in 2014-2017(jan) to try to break the wells of the indie fracking producers that had boomed from 2009-2014. I get you are probably the same leaf shit poster that makes all the lefty posts, but dude, read some fucking financial news if you want to talk about oil, instead of projecting your internal bias.
My thoughts are that;
1)We've discovered huge reserves never thought possible. There's a great parable about Bakersfield, CA. By the early 00's it was a dying city, 100 years of oil production and Mobil had run the wells dry. A little company named Oxidental Petroleum offered to buy the fields. Mobil thought they were offloading a dry field that required loads of environmental cleanup so they sold it to them. Oxi's ace was carbon injection, high pressure HFracking (2007). They reassessed the field at 1.5X the amount mobil had taken out over 100 years. Bakersfield now has a Maserati dealership, Atlanta doesn't even have one. Also huge reserve discovered in Texas.
2)The typical left position is to be Green, and surprisingly working in green tech for many years, I am very supportive of green. I also understand that it'll take years for us to transition, and the fastest path is going to be through non subsidies, so that green tech follows moores law, instead of subsidies which don't provide an incentive to lower the cost of the tech. The other side to the coin is I'd rather the US use petroleum, because when we do it and manufacture with it, we do so at a fraction that the same process produces in pollution as china / india. At this point, we've gone "green" in the US and EU, but offloaded 7x the pollution to Asia. We all live on the same planet, so what was the point?
3)Security. Fuck the Sauds. Fuck the Qatari's. The sooner we can be free of them, the less we fund them, the sooner they'll be bank to tent living goat hearders, that can barely scrape together enough money for a couple of Chinese AK's.
can you elaborate more on this?
Why would Trump do this and how?
I dont recall bush doing that, did he halt oil production in the states or did the war do it?
1. Basically the US and Canadian shale and fracking is going bezerk- lots of oil is available and infrastructure is developed enough to get a lot of oil. It's not the cheapest in the world to make, but the point is that if OPEC or other countries try and jack up the price (much above $40-$50+), then the US will ramp up production to compensate and keep the price down. There are a ton of rigs in the US and Canada, but a lot of them are idling because the price of oil is too low. If the price spikes up again, they can be back online and pumping in a matter of weeks.
2. A LOT of OPEC countries are totally dependent on oil to sustain their economy and lifestyle. Fucking Saudi royalty has lived for decades in a world where they don't have to do shit and just drive Bugattis and Lambos living off of oil profits. Now they're in a shitty position where holding tight on their supply and jacking up their price of oil DOESN'T mean more money for them.
3. So a lot of OPEC countries want to agree to hold supply down, but the math is shitty. If you hold supply down, but the US and Canada just drills more oil, then the price stays pretty low and you don't make more money overall. Meanwhile, your country has bills and bonds to pay- there's a strong incentive for each country just to drill as much fucking oil as possible. Even if it's at a slight loss you can kick the can down the road a bit. On the other hand, if EVERY OPEC country did that, oil would plummet to nothing.
4. So OPEC is basically trying to pretend they'll cut production (because every time they pretend to the price spikes a little). There's loads of oil in container storage just because a lot of investors think the price will go up, but most areas are even running out of containers to store all the extra oil. That's where Wall Street has been coming in on this-since traders have been buying up and storing this much oil it's stopped the price from going down as much as it could
instability in the middle east cause the price of gas to go up. the price of gas went down because the new technology the oil industry rolled out called fracking produced a bunch of oil.
it has nothing to do with obama. obama did his best to slow it down and stop it. obama made the middle east even more unstable than bush did somehow as well. that cancuck retard doesn't have a clue what the fuck he's talking about
what realistically is green energy right now?
What is greens future and in what form?
I read that nasa used algae for power in some of it's equipment, is this true?
In regards to electric cars... they are powered by lithium right? We dont have any lithium mines here in the us do we?
In lithium a finite resource and how many years of lithium power exist in the world?
Thank you for the info. Its nice to learn things here instead of shitposting.
>What drove the prices down was the sauds dumping oil on the market in 2014-2017(jan)
No it wasn't. Lol you fucking retards, the Saudis have been forcing OPEC to cut production. You absolute fucking nimrods need to update your talking points.
>obama made the middle east even more unstable than bush did somehow as well.
Bush invaded and occupied Iraq with hundreds of thousands of troops at the cost of trillions of dollars.
You fucking retards are too young to even know what happened during Bush's presidency.
We have shitloads of rare earth metals in the US and would have no problem mining them, the issue is environmental regulatory compliance. Rare earths, despite the name, are not particularly rare.
That's the ultimate end game. Putin needs higher oil prices. How Trump will get that done exactly I don't know. That's the trillion dollar question. Obviously starting up wars and political instability all over the place will help Trumputin in this. Trump won't cut US production, but what these right wing retards (not saying you) never understand is that there is more to oil prices than production. They are too brain dead mentally to be able to understand this
When Wall Street buys oil... do they actually buy it and store it in facilities?
What is the shelf life of oil?
How common is trading in oil? do big dogs it or smaller firms to? Do both get to physically store it or are they just buying rights?
When they buy oil... do they buy it from like shell, bp, etc... who is the biggest oil company they buy from.
T. guy who was never taught much and has to get it from internet.
thank you again
Green Energy is a political profiteering initiative. Ask yourself why so many Democrats personally invest millions of dollars into green energy companies, then push to provide/expand subsidies for "green energy".
Not sure what's going to come of legit green energy, but that is what the free market is for.
Electric cars are powered by batteries. The batteries contain lithium, but they can be recharged. They don't last forever, though, and disposal is a bitch. The manufacture of batteries also creates a lot of CO2 output, though, so if the environment was really what they were concerned about, they wouldn't push something that produces as much or even more than gasoline. It's all about profiteering. They also get tax dollars from those who work hard to earn their money and it goes straight into the pockets of those politicians and the companies they pushed you to buy from.
Lets assume that trump is not a closet neocon or that the neocons are not advising him and giving him orders.
Lets assume that Trump is trying to stay out of Syria...
The MSM def wants war with Syria and even maybe Russia...
A war would cause a up tick in oil prices and that would help Putin would it now?
Doesnt that conflict? Or do the big guys win either way.
I was reading online about this stuff circa 2002 so I have a general understanding of it.
Trump is a neocon tho
so is his party
Republicans do as they're told. Billionaire globalists command and Republicans obey.
premium is still $3.50. The cheaper gas gets the more the increase for premium they make
fuck me
Musk is basically funded this way is he not?
I have seen lithium mines and they look like a nuke bombing... actually way worse.
I always thought it odd that electric car batteries dont get a lot of bad press.
So it's basically the hustle of the left and therefore, they ignore covering the consequences of lithium mining.
Is lithium mining dangerous to the human body like a life time of coal mining?
How do you do this every fucking time?
Fuck off the only reason oil is cheap is because fracking scared the saudis. The president has next to no influence on gas prices.
We still should've taken the oil.
The whole world expected us to take the oil and we didn't take the oil.
It was a big mistake.
>washington post poll
cheap money has funded a fracking boom. Production at fracked wells declines rapidly after 1 year, so fracking companies must keep drilling and fracking to stay in business.
So we have a temporary oil glut, due to fracking.
This will end soon. Fracking is unique to the usa. It's difficult to do it anywhere else and still make money.
Yes, every single one of Musk's businesses was designed to siphon billions in taxpayer subsidies. Space-X wants to sell contracts to governments for orbital services. Tesla sells cars and receives massive subsidies for every car they sell. TBC provides public works services. Hyperloop aims to provide transportation services. SolarCity wants to sell overpriced solar roofs and the Democrats were going to provide subsidies for home energy initiatives under their updated platform.
Every single one of these efforts is designed to siphon from the taxpayer. Elon Musk is a fraud.
that's not an argument
>The president has next to no influence on gas prices.
How quickly Republicans change their tune
>its pathetic
Ok so the article is obviously biased thanks for pointing that out. Show some sources besides a fucking poll leaf.
I remember the pre-millennium days of gas and it was pretty cheap but taking inflation into account, the gas now is super fucking cheap.
>REPHUBPHILCUNS
That's literally you right now. You realise politics isn't just two parties right?
>Trump: bombing a practically unmanned airbase as a show of force during your lunch with the President of China, successfully convincing him to side with the US against China and end all coal purchases from them, buying from the US instead.
>Obama: bombing Syria because your Iranian muslim friends want you to
Is this article suggesting these things are the same? That's why you lost the election. No depth.
Obama bombed the shit out of ISIS in Syria and u right wing retard terrorist lovers hated him for it
>MUH REBUPHILCUNs
Lithium and Cobalt are both finite resources the Chinese have done a good job to get a corner on in Africa. Blame the Dutch and English for capitulating to the USSR/US cold war and pulling out, letting the Chinese in to buy it up.
Solution, Sodium Ion batteries. The 90+ y/o inventor of the Lithium (though that's contested by the CIA), says about 2 months ago his Uni has proofed them, with 10x capacity, no rare earth, and no risk of thermal runaway (explosions that you see in vapes, cell phones, laptops etc).
So you are the lefty leaf. Always. You do notice that I put very clearly that they stopped dumping in January of 2017, you even quoted it. I guess to elaborate on the point more of what their strategy was all about.
Aramco has worked as consultants to Venezuela gas works. Many of the VZ wells got upgraded with HFracking tech from the US. When the fields and assets of the US companies were reclaimed through mucho Chavismo, we banned exports of fracking tech to VZ / US companies didn't do business down there because the government had stolen their assets. Sauds / Russians / Chinese tried to insert their own staff / help / tech to keep the fields online, but they couldn't. So they had to start capping wells, hoping to take loans against the assets in the ground, until trouble with the US blew over, so the VZ government could finance itself. What they found when they capped these wells is that they lost 20-60% of the strike.
Aramco (sauds) seeing this figured that if they dumped enough, they could force the smaller producers (of which new fracking strikes are about 90%) to cap their wells, permanently taking offline new american discoveries, and reposition the Sauds as the market makers. What they found out was that we have new Valve tech, that lets them turn the wells on / off at the flick of switch essentially, without losses or overpressure damage.
Where did I say anything about Republicans in this post? Are you mentally handicapped?
So when the Sauds brought Opec to bear at the beginning of the year to bring prices up, they quickly found out that as prices went up, American frackers came back online and stabilized prices back down. The more they cut, the more americans come online to fill the market losses. That price is about $40/bbl. Trumps plan is to lower regulatory costs, to drop that by $10/bbl along with more tech imporvements, that would get the US to $25/bbl long term in 2017 dollars. Sauds can still make money as their cost is about $7/bbl, but with Aramco's IPO, we're finding out that maybe they have mismanaged their fields, and they may not have as much "easy" oil to get, and either they have less proven reserves left, or what they do have will be very costly to get.
you fell for the premium jew, unless you have something that can keep up on a racetrack.
lol you retarded shills are so fucking stupid. Saudi Arabia didn't flood the world with oil in 2015. You retards are just fucking morons who make things up in their head. They've been calling for cuts way before Jan 2017 as well.
Oil prices fell after Obama sanctioned the shit out of Russia.
We was looking for weapons of mass destruction
...
Ok. Like I said read some fin news. Also, that's a chart of the US/RBL, of course it's going to crash after harsh worldwide sanctions.
Here's an article you might want to read.
bloomberg.com
...
LOL AHAHAHAHHHAH you retards really are fake news.
Now here is a chart showing the oil price falling by more than half in late 2014.
Wow what a coincidence The Saudis didn't magically all the sudden flood the world with oil. How retarded do you have to be to believe this?
Trump pulled the presidential gas price lever.
>implying federal regulatory agencies aren't used to manipulate oil supply/demand in order to affect prices.
It's almost like the only thing propping up the Ruble is Russia's oil production and in concert with the sanctions, the sauds dumped oil in a pretty genius geo strategic move. I don't even know what point you are trying to make.
Is it that the sanctions on Russia lowered the global oil prices?
Here's the quick rundown
>USA developes hydrolic fracturing technology (otherwise known as Fracking)
>Fracking gives us access to massive oil reserves previously inaccessible
>at same time, natural gas is being used more because it's cleaner and cheaper than oil was
>also fracking gives us access to a shit ton of natural gas
>Gracking starts getting cheaper
>massive boom in US oil industry
>OPEC realizes they're losing market share (and power)
>crank up oil production to destabilize US fracking
>oil prices plummet
>US keeps producing though because prices still cover variable costs of producing and whittle at fixed costs
>venezuela ends up getting fucked harder than US and has to lower its own production because it can't pay the workers
>a lot of other OPEC countries struggling
>fracking companies struggling to pay their debt
>no one knows who will break first
Tl;dr US and OPEC are essentially in a pissing match for supremacy in the oil market
>the sauds dumped oil
Except they didn't. You retards just literally made this up. I want to know why.
>Is it that the sanctions on Russia lowered the global oil prices?
yes
Fracking, Oil sands, boomers retireing.
>boomers retireing.
they're not retiring. they're long term discouraged. how dare you
I believe he's referring to the practice of trade dumping which is essentially flooding a market with your shit to devalue the product and destablize competition
its because the opec countries are competing with russia to outsell oil and will do whatever it takes to not let putin flood the market with russian oil
The neo-con kikes have launched economic war upon oil dependent countries sometime, 2 years? before Trump
Anyway, full story:
Arab spring was unplanned, accidentally caused by china; this led to many costly mistakes by neo-cons
They have it under control now and are planning to completely destabilize the arab gulf countries
With everyone drilling to their maximum capacities, it creates a game of attrition - oil countries have to rely on foreign reserves to survive the duration of the hit of low ass prices; while usa keep prices low as long as possible as pressure
Qatar is the beginning of opec cracking - in times of trouble, you eliminate your weakest link
Venezuela is more likely just splash damage, considering no one cares about them and their shitty socialist state
Russia is the ultimate target, being an oil country as well - would be nice to remove the only other nuclear opposition, won't it?
Here's an article from 2014 about saudi production boosts and price cuts, otherwise known as dumping.
bloomberg.com
Russia is a net oil exporter, they supply almost all of Europe with NatG through Gazprom. Even at the height of the cold war, great moves were made to keep the gas flowing. Typically when you restrict the supply of a good (sanctions), you increase its price, because it is more scarce. Is there some other basic econ I'm missing in this?
compare with
>Here's an article from 2014 about saudi production boosts
AHAHAHAHAHAHA
Here's a chart of those 2014 Saudi production boosts
and now look at oil prices falling by half in 2014 you're claiming it was caused by this do u feel stupid?
> would be nice to remove the only other nuclear opposition
Not possible. Russia will be living in shit, but the army will be fed.
What does this prove? Someone flooded the market with oil and people didn't predict chinese demand drying up
we were told that we passed peak oil more than a decade ago
>the rise in oil prices over the last decade was a result of the peak oil crisis
>shale oil utilized, price does not decrease
>already way past peak oil and Saudi declares it will dramatically increase oil supply, indefinitely
>shale business goes bust
>oil prices decline rapidly
all of a sudden peak oil propaganda magically disappears. we can close all the shale business and just rely on Saudi increased production once more.
i heard that the gov't actually subsidized production and purchase of gas-guzzling SUVs that get 10 miles per gallon. it is ironic that the increase in production and purchases of SUVs coincided with the peak oil crisis with dramatic rise in gas price.
it is absurd to see US going to war "for oil" because of "peak oil", "oil shortages", "oil price increases" and yet, at the same time they increase production of gas-guzzling SUVs, becoming the most common car on the road. The gov't even funded and subsidized purchases of SUVs for the population.
and at the same time: magically stop shale oil production, magically increase Saudi oil production, magically have dramatic oil price declines..
The bastards are at like 80% storage capacity in the Cushing storage facility despite shutting down almost 800 rigs. They've tried to keep those prices up, hard, shutting down rigs, "refinery maintenance", labor strikes, the works. Fuel prices are still up compared to crude.
All of this without even considering all the new crude found and the abandoned projects.
It was all a ruse and the Saudi's showed they're willing to fuck everyone over market share.
Oil/Energy Crisis ruse
California electricity crisis, also known as the Western U.S. Energy Crisis, was a situation in which the United States state of California had a shortage of electricity supply caused by market manipulation by big corporations like Enron
*someone else. That's just saudi Arabia
The oil price fell to cap American shale oil to below the cost of extraction to make it unprofitable. Iirc it costs $50-$60 a barrell to extract
At this point you're just (you) farming.
so u just made my point. that saudi arabia didn't flood the world with oil. that was me entire argument
Now down into the $40 range. Tech improvements because of pricing pressures.
>88
Odd to say but sometimes (((they))) are pretty bad ass.
Hope greater Israel happens
>Iirc it costs $50-$60 a barrell to extract
lol there's no such rule
different field have different costs
Pioneer Boasts $2 Per Barrel Production Costs
oilprice.com
It was literally 50 cents cheaper not even 6 months ago you fucking retard
wait. you're claiming that green arrow in 2015 caused the oil price to fall by half in 2014?
are you deliberately trying to be deceptive?
$2.85 a gallon isn't cheap, when it's back down to 1.70 THEN it'll be cheap
faster than a new ferrari bub
What is the futures market?
where is this massive oil dump i keep hearing about?
Saudi Arabia didn't. The rest of Opec did though. Opec production is still extremely high. Also you have to take into account the US energy boom and Iran being allowed back into global markets
that goes against your argument LOL AHAHAHAHA. oil is priced going forward, not going backwards
2014 prices aren't set in 2015. LOL is this what you thought?
>Gas is the cheapest it has been in a long time.
Obama admin created artificial energy crisis to cripple American economy. It's part of what his (((masters))) paid him to do.
>lol ahahaha
Fuck off reddit
>Also you have to take into account the US energy boom and Iran being allowed back into global markets
Thanks Obama.
I'm glad you agree with me that I debunked the saudi meme tho
It is low because last year was an election year. It will go back up to 5 soon enough
>being this retarded
...
...
Nah Saudis are smart. They know they're fucked if oil stays low which is why they tend not to cheat like other countries on OPEC agreements
The problem with American oil is it's really only competitive because of subsidies, so we aren't really making money off of it. It's harder to get out of the ground than Russian gas or Saudi oil. The US won't be able to keep it up forever, all the Russians and Saudis have to do is cause a market panic if the prices get too low. They may be losing money now but Russia is okay with seeing our government going into debt to rig the price. If the price gets too low they'll cause a market panic by the expanding their military effort in Syria.
Look at the first green arrow. Dumping starts in late 2013, priced for futures for delivery in April 2014.
Sauce? Im pretty involved in the energy industry and I haven't heard this. Green energy is subsidized like crazy but I dont think oil is
So presidential.
lol you honestly can't be this fucking retarded can you?
what you keep calling "dumping" is just production returning to normal. Production dropped off probably for repairs and then bounced back to where it was. You cut this part off. Why?
This is what cut global oil prices in half? That's what you're claiming. Consider how retarded you are.
>My thoughts are that;
>1)We've discovered huge reserves never thought possible. There's a great parable about Bakersfield, CA. By the early 00's it was a dying city, 100 years of oil production and Mobil had run the wells dry. A little company named Oxidental Petroleum offered to buy the fields. Mobil thought they were offloading a dry field that required loads of environmental cleanup so they sold it to them. Oxi's ace was carbon injection, high pressure HFracking (2007). They reassessed the field at 1.5X the amount mobil had taken out over 100 years. Bakersfield now has a Maserati dealership, Atlanta doesn't even have one. Also huge reserve discovered in Texas.
It was prophesied by the singing prophet Kim Clement before his death. America will bring forth oil. It's part of his Trump prophesy.
youtu.be