SIGforum
We'll get right on that, OPEC

This topic can be found at:
https://sigforum.com/eve/forums/a/tpc/f/320601935/m/4440090424

May 11, 2017, 03:31 PM
MNSIG
We'll get right on that, OPEC
http://money.cnn.com/2017/05/1...-s-supply/index.html

We've got those one trick pony terrorist supporting idiots by the throat. Don't let go.
May 11, 2017, 03:36 PM
LS1 GTO
Competition breeds innovations in efficiency.





Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.



"If dogs don't go to Heaven, I want to go where they go" Will Rogers

The definition of the words we used, carry a meaning of their own...



May 11, 2017, 03:41 PM
roberth
quote:
Originally posted by LS1 GTO:
Competition breeds innovations in efficiency.


I love capitalism.



May 11, 2017, 03:53 PM
Fenris
If US producers complied, it would be criminal anti-competitive behavior. The DoJ frowns on price rigging.



God Bless and Protect our Beloved President, Donald John Trump.
May 11, 2017, 03:56 PM
Russ59
Some the oil rich nations (most revenue comes from oil and gas) are unwilling to cut production because they need the revenue, but they're own short term thinking continues to drive down prices (and revenues!). Cut production baby! While the US is a big player, we aren't dependent upon oil and we aren't nearly as big as the other oil-dependent nations.

Waa haaa.


P229
May 11, 2017, 03:57 PM
bigdeal
quote:
Originally posted by Fenris:
If US producers complied, it would be criminal anti-competitive behavior. The DoJ frowns on price rigging.
Only when its done without the government getting a cut and having a say.

Our own tatortodd is the man I want to hear input from on this topic...


-----------------------------
Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
May 11, 2017, 04:01 PM
Il Cattivo
Hmmm, "please don't pump so much oil, please don't pump so much oil....."

Weren't these the douchebags that ramped up their own production a few years ago to force oil prices down in order to shut down US petroleum producers and US frackers in particular?

Hmmmm.
May 11, 2017, 04:04 PM
MNSIG
quote:
Originally posted by Il Cattivo:Weren't these the douchebags that ramped up their own production a few years ago to force oil prices down in order to shut down US petroleum producers and US frackers in particular?

Hmmmm.


Those would be the ones.
May 11, 2017, 04:07 PM
Perception
quote:
Originally posted by Il Cattivo:
Hmmm, "please don't pump so much oil, please don't pump so much oil....."

Weren't these the douchebags that ramped up their own production a few years ago to force oil prices down in order to shut down US petroleum producers and US frackers in particular?

Hmmmm.


Always nice to see capitalism working in its purest form. Instead of killing our producers, the competition forced them to become more efficient, and now they can compete at much lower prices.



"The people hate the lizards and the lizards rule the people."
"Odd," said Arthur, "I thought you said it was a democracy."
"I did," said Ford, "it is."
"So," said Arthur, hoping he wasn't sounding ridiculously obtuse, "why don't the people get rid of the lizards?"
"It honestly doesn't occur to them. They've all got the vote, so they all pretty much assume that the government they've voted in more or less approximates the government they want."
"You mean they actually vote for the lizards."
"Oh yes," said Ford with a shrug, "of course."
"But," said Arthur, going for the big one again, "why?"
"Because if they didn't vote for a lizard, then the wrong lizard might get in."
May 11, 2017, 04:13 PM
220-9er
The last several decades they were rolling in the dough and could have diversified their economies and educated their people so a downturn in oil prices wouldn't have tanked their economies.
Instead they financed our enemies all over the world, and the ones at the top of the economic food chain acted like the gluttons they are. All the while the common folks there lived in poverty, helping to create the terrorist problem we have now.
Now we have them by the balls, for a while. Russia, Venezuela, and the middle eastern producers are having their power threatened so no wonder they want prices up.
Drill baby, drill. Bring them to their knees and lower if at all possible.


___________________________
Avoid buying ChiCom/CCP products whenever possible.
May 11, 2017, 04:54 PM
Il Cattivo
Well, ya gotta give the Saudis that (whether it was intentional or not) - when they flooded the market, they hosed Russia even worse than they hosed us.
May 11, 2017, 05:07 PM
BBMW
That was an attempt by the Saudis to punish the other producers and get them in line. It may have worked to some extent, except of course, with us.

quote:
Originally posted by Il Cattivo:
Hmmm, "please don't pump so much oil, please don't pump so much oil....."

Weren't these the douchebags that ramped up their own production a few years ago to force oil prices down in order to shut down US petroleum producers and US frackers in particular?

Hmmmm.

May 11, 2017, 06:03 PM
saigonsmuggler
Read somewhere that between offshore and fracking, the US has more oil than the Saudis (though not all of it can be extracted at $40-60/bl) and also some rumor that the Saudis are pumping like 35-40% seawater these days.

I think Saudis' cost is really low though - like $10-17 a barrel?
May 11, 2017, 06:16 PM
bubbatime
Drill baby drill! That article brought a smile to my face.


______________________________________________________
Often times a very small man can cast a very large shadow
May 11, 2017, 06:19 PM
just1tym
quote:
Originally posted by saigonsmuggler:
Read somewhere that between offshore and fracking, the US has more oil than the Saudis (though not all of it can be extracted at $40-60/bl) and also some rumor that the Saudis are pumping like 35-40% seawater these days.

I think Saudis' cost is really low though - like $10-17 a barrel?


Hell...if they invented a car that runs on sea water, I'd never move from here Razz


Regards, Will G.
May 11, 2017, 06:20 PM
downtownv
I don't think President Trump will be bowing to these basturds any time soon!


_________________________
https://www.facebook.com/reel/2177215486049695
May 11, 2017, 06:41 PM
shovelhead
I still remember 1973. Screw them.


-------------------------------------——————
————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
May 11, 2017, 07:17 PM
Opus Dei
quote:
Originally posted by saigonsmuggler:
Read somewhere that between offshore and fracking, the US has more oil than the Saudis (though not all of it can be extracted at $40-60/bl) and also some rumor that the Saudis are pumping like 35-40% seawater these days.

I think Saudis' cost is really low though - like $10-17 a barrel?
Probably they are injecting salt water to lift the oil. This is pretty certain the field is in decline. Tatortodd could elaborate, if he sees this.
May 11, 2017, 07:30 PM
Icabod
quote:
Originally posted by shovelhead:
I still remember 1973. Screw them.


Amen!


“ The work of destruction is quick, easy and exhilarating; the work of creation is slow, laborious and dull.
May 11, 2017, 07:31 PM
Russ59
quote:
Originally posted by saigonsmuggler:
Read somewhere that between offshore and fracking, the US has more oil than the Saudis (though not all of it can be extracted at $40-60/bl) and also some rumor that the Saudis are pumping like 35-40% seawater these days.

I think Saudis' cost is really low though - like $10-17 a barrel?


Their fields are declining and that's not alarming. That's still a low water cut and low lift costs. In Long Beach, water cut is upwards of 98% and lift costs is $25+ per barrel.


P229