OPEC declared war on Texas ...

[fzappa13]

Also, Saudi Arabia and Kuwait do not stand to gain or benefit from a strong Iran or Venezuela. Both of which want OPEC to do what they can to get oil at 100-150 a barrel. Those countries are on a faster track to collapse than even the US.

Venezuela figured that out and had a plan b:

http://www.bloomberg.com/bw/article...-falling-venezuela-needs-china-more-than-ever

A strong US economy is in the best interest of Saudi Arabia and Kuwait.

How so?

 

[rocketman]

Well, you are wrong. This is not about Democrat/Republican, because that is a fake issue. It is in fact left and right. The opposite of right being both left and wrong.

I can agree with that...

The left does not want a strong thriving free middle class. They want a ruling class of which they belong, and the servant class. That is the agenda to which Obama and Boehner both want.

Now your talking...and to call most of these republicrat RINO's "Right Wing" is just a bad joke, they are just as left wing & progressive as their Demoncrat brethren.

 

[Nick M]

How so?

View attachment 21245

View attachment 21246

 

[Nick M]

Also, Saudi Arabia and Kuwait do not stand to gain or benefit from a strong Iran or Venezuela.

Saudi Arabia executed 47 jihadists in one fell swoop.

Most of the 47 killed in the kingdom's biggest mass execution for decades were Sunnis convicted of al Qaeda attacks in Saudi Arabia a decade ago. Four, including Nimr, were Shi'ites accused of involvement in shooting policemen.

The executions took place in 12 cities, four prisons using firing squads and the others beheading. In December, al Qaeda in the Arabian Peninsula threatened to retaliate against Saudi Arabia for any execution of its members.​

 

[Nick M]

And Iranians have set the Saudi Arabian embassy on fire in Iran.

 

[User Name]

Saudi Arabia executed 47 jihadists in one fell swoop.

Saudi Arabia may be headed for war. Iran is now calling for "Divine retribution" against the Saudi regime because they just murdered a prominent Shiite cleric who was a critic of the royal family, who are Sunni. Also, a Saudi prince was recently caught trafficking cocaine and other drugs out of Lebanon. Simultaneously, another Saudi prince was arrested in Los Angeles amid charges that he procured drugs, solicited homosexual prostitutes, and threatened to kill at least one woman. The Saudi regime may be heading for a swift and sudden downfall.

 

[OCTOBER23]

Dubai is running out of oil.

AND THAT IS WHY THE MIDEAST WAR IS SOON GOING TO EXPLODE

WHEN ISRAEL CONQUERS LEBANON, SYRIA , IRAQ AND EGYPT

AND RUSSIA COMES DOWN TO TAKE OVER JERUSALEM IN A FEW YEARS.

 

[Nick M]

That link is not working.

Not sure how that happened....fixed it.

 

[fzappa13]

Russia moves to protect its oil market as a country while America ... is apparently West Texas as it concerns oil.

http://russia-insider.com/en/business/russia-wants-launch-its-own-oil-market/ri12115

 

[fzappa13]

... and those poor Canucks.

http://www.zerohedge.com/news/2016-01-13/canadians-panic-food-prices-soar-collapsing-currency

 

[fzappa13]

Looks like Tom O's concern might well have been the more pertinent ... but then, he doesn't live in Texas. I guess the final arbiter of that discussion will be the amount of reserves involved per country and it's overall part in their economy.

http://www.economist.com/news/finance-and-economics/21688446-why-oil-price-has-plunged-20-new-40

 

[Ktoyou]

Also, Saudi Arabia and Kuwait do not stand to gain or benefit from a strong Iran or Venezuela. Both of which want OPEC to do what they can to get oil at 100-150 a barrel. Those countries are on a faster track to collapse than even the US.

A strong US economy is in the best interest of Saudi Arabia and Kuwait.

Very true. While crude prices pleases consumers, the price of crude, being as low as it has been suffers energy, particularly at home.

They do indeed depend on the US economy.

 

[fzappa13]

I just went to fill up my truck which had an 1/8th of a tank. Being a cash kind of guy I gave the gal behind the counter $30 to fill it up. I had to go back inside and get $5 back. $1.59 per gallon.

And sanctions against Iranian oil have just been lifted.

http://fuelfix.com/blog/2016/01/16/west-lifts-sanctions-against-iran-crude-exports-expected-soon/

 

[fzappa13]

Not a fan of CNN but this one is a must read.

"I don't think it's fair to ask OPEC" to unilaterally cut production, said Suhail Mohammed Al Mazrouei, the UAE energy minister. He added that OPEC's strategy is "working."

Led by Saudi Arabia, OPEC decided in 2014 to wage a price war with low cost producers in the U.S. and elsewhere in a bid to defend market share.

http://money.cnn.com/2016/01/12/news/economy/oil-opec-emergency-meeting/

 

[fzappa13]

Is this a case of "cutting off your nose to spite your face" of a case of "If you're a sheikh you can take this kind of hit for a long term gain?"

http://www.telegraph.co.uk/finance/...k-markets-crash-as-Tehran-enters-oil-war.html

 

[fzappa13]

The Permian Basin in West Texas may be the second biggest field in the world after Ghawar in Saudi Arabia,” he said.

Zhu Min, the deputy director of the International Monetary Fund, said US shale has entirely changed the balance of power in the global oil market and there is little Opec can do about it.

“Shale has become the swing producer. Opec has clearly lost its monopoly power and can only set a bottom for prices. As soon as the price rises, shale will come back on and push it down again,” he said.

http://www.telegraph.co.uk/finance/...s-will-not-destroy-the-US-shale-industry.html



What troubles me is the buzzards that are in bed with the Sheikhs (The Carlyle Group etc.) are just waiting to pick up a goodly number of these assets for pennies on the dollar and it's hard to view that as an accident for some of us.

 

[fzappa13]

Following up on an earlier thought, Here's a look at what it costs some of the major players to produce oil. The astute observers will notice that West Texas crude is conspicuously absent (being an article about OPEC, of course). $60 to $65 is the magic number for comparison purposes.


http://money.cnn.com/2015/10/25/investing/oil-prices-saudi-arabia-cash-opec-middle-east/index.html

 

[fzappa13]

... and for those of you who think the IMF isn't in cahoots with Saudi Arabia on this play, here is the IMF offering Saudi Arabia public a fig leaf telling the world that Saudi Arabia (remember this is their play) must institute austerity measures and prop up their currency ... and maybe sell a personal jet or two.


http://www.telegraph.co.uk/finance/...-embrace-austerity-as-debt-defaults-loom.html

 

[fzappa13]

One of the more sober and well balanced looks at this situation I've seen yet. Saudi Arabia is in danger of breaking up OPEC pursing their own self interests (i.e. control of the world oil market) and will wish they hadn't as they later come to need the partners they are in the process of offending as their OPEC partners are now beginning to reconsider the wisdom of following Saudi Arabia's lead in this endeavor. It's not working out quite the way they were told it would.


https://consortiumnews.com/2015/01/13/behind-the-saudi-oil-price-gambit/

 

[Nick M]

What is funny is when oil was up high, the Arabs drove the price up to hurt America. When it is low, the Arabs drove the price low to hurt America. Leave it to the left to use their global warming tactics in all debates now.