hipresr Report post Posted January 14, 2015 Seeking alpha had an interesting article and theory on the Kings land foresaw this coming to an end with all the new energy sources taking place now. So its a rush to get whats out of the ground before there is no need for it..... Link to article: http://seekingalpha.com/article/2815215-ev...-of-opec?page=2 Quote Share this post Link to post Share on other sites More sharing options...
Fortitude Report post Posted January 14, 2015 Seeking alpha had an interesting article and theory on the Kings land foresaw this coming to an end with all the new energy sources taking place now. So its a rush to get whats out of the ground before there is no need for it..... Link to article: http://seekingalpha.com/article/2815215-ev...-of-opec?page=2 That's not what the article is referring to. Its referring to the more expensive to extract oil sources. Pretty much all the easy to extract oil has been found, they are exploring for oil out there that would require much hire oil price to be considered viable. Saudi Arabia is doing this to hurt exploration on top of other energy sources in the short term. Saudi Arabia and the US government are colluding on this. Obama gets to take his credit for it and also gets to be able to push economic sanctions on the energy sector of Russia as a viable thing after European countries rejected it originally because it would hurt them. Quote Share this post Link to post Share on other sites More sharing options...
hipresr Report post Posted January 14, 2015 I am referring to this: But in a world where a producer sees the end of its market on the horizon, then every barrel sold at a profit is more valuable than a barrel that will never be sold. Current Saudi oil minister Ali al-Naimi had this to say about production cuts in late December: "it is not in the interest of OPEC to cut their production whatever the price is," adding that even if prices fell to $20 "it is irrelevant." Implied, if not explicitly stated, is that Saudi Arabia wants its oil out of the ground, regardless of how thin its profit margin per barrel becomes. Quote Share this post Link to post Share on other sites More sharing options...
HannibalACP82 Report post Posted October 26, 2015 Bump for an interesting article: http://money.cnn.com/2015/10/25/investing/...east/index.html Saudi Arabia, the world's largest oil producer, needs to sell oil at around $106 to balance its budget, according to IMF estimates. The kingdom barely has enough fiscal buffers to survive five years of $50 oil, the IMF said. Vs The IMF said the UAE has enough fiscal buffers to withstand $50 oil for nearly 30 years. Qatar and Kuwait can sustain cheap oil for almost 25 years. I continue to be very impressed with certain aspects of the UAE and how their government runs the country. Their smart government initiatives are very interesting and their constant city expansion plans seem well thought out. I am not ready to give up my US citizenship (not that the UAE is giving out citizenship) but I think the US could learn a lot from SOME of the things they do over here. Quote Share this post Link to post Share on other sites More sharing options...
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