The Great Oil Crash 0f 2014
- Thread starter Warstud
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Originally Posted By: NHGUY
Makes one wonder why it couldnt have happened long ago.Remember,gas didnt explode in prices really until 2005,thats almost 10 years ago.10 years of price hikes.And now its down this much from a threatened 4-5 bucks a gallon? just goes to show its rigged.They know everyone NEEDS oil and gas,so they WILL pay for it no matter what.
Gas isn't made instantly you have to produce it over time. Chine uses a lot of oil but due to thier current housing situation they have less then expected demand. Not only that but when you consider the recent boom in US shale oil the global production if far ahead of the global demand. When you have to much its only natural for prices to drop.
I believe O.P.E.C. is now trying to push the US shale oil into the unprofitable zone. Since US shale isnt cheap they need a $85-$90 a barrel for it to be profitable.
How it stands the US will cut back on shale oil production.
Its best in O.P.E.C's to help lower prices to help them. They are mostly rich country's that can afford keep prices low for awhile.
Makes one wonder why it couldnt have happened long ago.Remember,gas didnt explode in prices really until 2005,thats almost 10 years ago.10 years of price hikes.And now its down this much from a threatened 4-5 bucks a gallon? just goes to show its rigged.They know everyone NEEDS oil and gas,so they WILL pay for it no matter what.
Gas isn't made instantly you have to produce it over time. Chine uses a lot of oil but due to thier current housing situation they have less then expected demand. Not only that but when you consider the recent boom in US shale oil the global production if far ahead of the global demand. When you have to much its only natural for prices to drop.
I believe O.P.E.C. is now trying to push the US shale oil into the unprofitable zone. Since US shale isnt cheap they need a $85-$90 a barrel for it to be profitable.
How it stands the US will cut back on shale oil production.
Its best in O.P.E.C's to help lower prices to help them. They are mostly rich country's that can afford keep prices low for awhile.
who knows i personally dont trust most of them.
As said above what your seeing is a forced cooling off of Russian and Iran, along with ISIS and every other despot who needs oil over $90 to balance their joke of a budget.
Expect the Russian economy to implode over the next few months and they will be more than willing to become reasonable in the east.
Expect the Russian economy to implode over the next few months and they will be more than willing to become reasonable in the east.
I think T.B. Pickens is correct. Some people are going to make a lot of money buy oil related stocks, beginning very soon.
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Originally Posted By: Vern_in_IL
Now is the time to top off everything.... even if it is winter blend.
It *will* go up next summer, I just don't see it going below $2.50, and that is a FAIR price.
So got some empty gas cans, fill up NOW. It will be good next summer.
I filled up for 2.27.. first time i have filled my truck for under $50
Now is the time to top off everything.... even if it is winter blend.
It *will* go up next summer, I just don't see it going below $2.50, and that is a FAIR price.
So got some empty gas cans, fill up NOW. It will be good next summer.
I filled up for 2.27.. first time i have filled my truck for under $50
Originally Posted By: Warstud
Does anyone else here feel that this Oil Crash is being orchestrated? Thoughts.
Yes; orchestrated by OPEC as a device to keep their near monopoly.
They are getting killed by the fracking in the Bakken(now producing almost 1/2 of Saudi's production) and the oil sands in Alberta, among others. By increasing their production they are driving the price down, which eventually will cause those other methods to operate at a loss to sell the oil.
Does anyone else here feel that this Oil Crash is being orchestrated? Thoughts.
Yes; orchestrated by OPEC as a device to keep their near monopoly.
They are getting killed by the fracking in the Bakken(now producing almost 1/2 of Saudi's production) and the oil sands in Alberta, among others. By increasing their production they are driving the price down, which eventually will cause those other methods to operate at a loss to sell the oil.
Originally Posted By: Finz
This...
Originally Posted By: JetStar
I read it was to put the frackers out of business. Will also fool people into buying big gas guzzling vehicles
Then the prices will go back up.
That's not the main reason but one of the perks I think. Just look at sales of the big SUVs and PU trucks climb. Then when gas hits $4 a gallon again watch people start crying and dumping them. The car makers are loving this. JMO
This...
Originally Posted By: JetStar
I read it was to put the frackers out of business. Will also fool people into buying big gas guzzling vehicles
That's not the main reason but one of the perks I think. Just look at sales of the big SUVs and PU trucks climb. Then when gas hits $4 a gallon again watch people start crying and dumping them. The car makers are loving this. JMO
Originally Posted By: Turk
Get poised to buy Oil related Stocks/ETF's on the rebound.....
+1!!!!!!!!!!!!!!!!! Just be patient.....
Get poised to buy Oil related Stocks/ETF's on the rebound.....
+1!!!!!!!!!!!!!!!!! Just be patient.....
I have on old 1996 V-10 Dodge 2500 pickup that I don't drive very much. (gets about 12 MPG on a good day). Since gas is getting more reasonable, guess I will dust it off and drive it again.
Just for the heck of it, might just add some MM Oil in gas tank. LOL
Just for the heck of it, might just add some MM Oil in gas tank. LOL
Originally Posted By: demarpaint
Originally Posted By: Turk
Get poised to buy Oil related Stocks/ETF's on the rebound.....
+1!!!!!!!!!!!!!!!!! Just be patient.....
VDE ?
What stock / ETF do you guys like ????
Originally Posted By: Turk
Get poised to buy Oil related Stocks/ETF's on the rebound.....
+1!!!!!!!!!!!!!!!!! Just be patient.....
VDE ?
What stock / ETF do you guys like ????
Orchestrated?... Someone from the US visits Saudi Arabia and cuts a deal (war on terror related). Days later oil drops and Iran and Russia find out they are basically screwed due to low oil $$ just the same as the frackers and oil sand guys. Now WHO has a vendetta against Russia, Iran and the Keystone pipeline/frackers? Seems like lots of birds got killed with one stone when these prices dropped! That's my conspiracy theory.
Originally Posted By: Blaze
Orchestrated?... Someone from the US visits Saudi Arabia and cuts a deal (war on terror related). Days later oil drops and Iran and Russia find out they are basically screwed due to low oil $$ just the same as the frackers and oil sand guys. Now WHO has a vendetta against Russia, Iran and the Keystone pipeline/frackers? Seems like lots of birds got killed with one stone when these prices dropped! That's my conspiracy theory.
The Saudi's are one of our best allies and are doing us a favor.
One aspect of what your seeing now is a bit of muscle flexing on our and by our I mean US, NATO and our Middle Eastern allies parts.
At the end of the day we all control the worlds oil supply and Saudi Arabia is rich enough to be able to take losses for a long time. Our own industry is vibrant enough to be able to make money regardless of the price of oil. So what if a few of our wells are capped for a year or two, who cares the money is already invested, its like putting money in the bank.
Within 24 months oil will be over $100 a barrel again, everyone knows this.
But before that happens Russian and Iran's economies will collapse, they simply cannot hold on that long. Saudi Arabia will get to defund the ISIS guys who want them all dead, and we will get to defund and cool off Putin before he decides he wants a bit more land. The icing on the cake is Iran will be screwed and might be more willing to enter fruitful nuclear talks, or at the very least be broke and the lack of money will slow down there bomb and rocket program.
This is how you solve problems geo politically without ever firing a shot.
Orchestrated?... Someone from the US visits Saudi Arabia and cuts a deal (war on terror related). Days later oil drops and Iran and Russia find out they are basically screwed due to low oil $$ just the same as the frackers and oil sand guys. Now WHO has a vendetta against Russia, Iran and the Keystone pipeline/frackers? Seems like lots of birds got killed with one stone when these prices dropped! That's my conspiracy theory.
The Saudi's are one of our best allies and are doing us a favor.
One aspect of what your seeing now is a bit of muscle flexing on our and by our I mean US, NATO and our Middle Eastern allies parts.
At the end of the day we all control the worlds oil supply and Saudi Arabia is rich enough to be able to take losses for a long time. Our own industry is vibrant enough to be able to make money regardless of the price of oil. So what if a few of our wells are capped for a year or two, who cares the money is already invested, its like putting money in the bank.
Within 24 months oil will be over $100 a barrel again, everyone knows this.
But before that happens Russian and Iran's economies will collapse, they simply cannot hold on that long. Saudi Arabia will get to defund the ISIS guys who want them all dead, and we will get to defund and cool off Putin before he decides he wants a bit more land. The icing on the cake is Iran will be screwed and might be more willing to enter fruitful nuclear talks, or at the very least be broke and the lack of money will slow down there bomb and rocket program.
This is how you solve problems geo politically without ever firing a shot.
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