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posters pick on each other all day long, but the iron law of spurstalk is that everyone picks on boutons.
You're wasting your time.....it doesn't fit his narrative.
posters pick on each other all day long, but the iron law of spurstalk is that everyone picks on boutons.
ordinarily, the unanimity would pique my skepticism.
nah
so you BigOil suckers give us the number for US exports of crude and LNG that have crashed the world price of oil
You still dont get it.
Our oil import is the lowest in 25 years.
"Booming output has reduced the need for crude imports. Foreign barrels account for 43 percent of the oil in U.S. refineries, the lowest level since 1992."
http://mobile.bloomberg.com/news/201...put-booms.html
We are still the world's largest oil importer....any move we make to reduce imports as dramatically as we have creates the reaction we see from the Saudis today.
Its really not that hard to figure out....of course alternet.borg and the moonbat echo chamber can't be bothered.
My comment was about RG's:
"The US becoming a net exporter..."
Of course, the US is importing less oil, but that wasn't RG's point.
Also helps that not only US demand for oil imports is down, but world-wide oil consumption is also down.
The PRECIPiTOUS drop in world oil price was due to Saudi reaction to the world wide oil glut.
BIG US/UK Oil would have been deliriously happy to keep selling/using $100+/barrel oil.
They them selves did NOTHING to lower the price of oil. It was the Saudi anounced decision and action to keep pumping into a glutted, declining market. BigOil been reluctantly forced, against their profit ojectives, to $50/barrel by the Saudis, not by their own intentions.
Stick you narrative up your ass.
Its production that matters. This is what underpins the article.
Production, period. You drag your export strawman into a discussion of huge production increases because your are so intellectually dishonest that, like Wild Cobra, you simply can't admit when you are wrong.
Go ahead and hang on to your idiotic worldview of "because republicans". It serves your shallowness.
Crude Oil Inventory Surges to 80-Year High
http://247wallst.com/energy-economy/...F7+Wall+St.%29
Despite declining oil prices, $45 billion Alaska LNG export project moves forward
You still dont get it.
Our oil import is the lowest in 25 years.
"Booming output has reduced the need for crude imports. Foreign barrels account for 43 percent of the oil in U.S. refineries, the lowest level since 1992."
http://mobile.bloomberg.com/news/201...put-booms.html
We are still the world's largest oil importer....any move we make to reduce imports as dramatically as we have creates the reaction we see from the Saudis today.
Its really not that hard to figure out....of course alternet.borg and the moonbat echo chamber can't be bothered.
http://fuelfix.com/blog/2015/01/12/d...moves-forward/
GOP divided over oil export ban
http://www.politico.com/story/2014/0...ns-111404.html
US importing 2m b/d less in a world market of 80m+ b/d, ie -2.5% reduction in WORLD consumption, hasn't caused the huge drop in the world price.
Production.
I never said it was the sole reason. It certainly is a large factor as has been stated by virtually anyone that knows the OG market.
Former Saudi oil boss says it can handle low price
Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's minister of petroleum's former senior adviser has told the BBC.
Mohammed al-Sabban said the country's policy was to defend its current market share by enduring low prices.
"You need to allow prices to go as low as possible in order to see those marginal producers move out of the market," he said.
Mr al-Sabban advised the ministry for 27 years, leaving last year.
Saudi Arabia, the largest producer within the Opec oil producers' cartel, has repeatedly said that it will not cut output to try to boost the oil price.
Mr al-Sabban said Saudi Arabia's "huge financial reserves" would enable it to cope with the low oil price.
The country is now in the process of cutting government spending.
Without these cuts, Mr al-Sabban said, Saudi Arabia could not cope with low oil prices for more than four years.
http://www.bbc.com/news/business-30876920
Iraq pumps crude at record level amid plummeting prices
Iraq is pumping crude at a record pace and will continue to boost exports this year amid a supply glut that’s pushed prices down, Oil Minister Adel Abdul Mahdi said.
“The average for Iraqi crude output is 4 million barrels a day, which is a historical record,” Abdul Mahdi said at a news conference after meeting his Turkish counterpart, Taner Yildiz, in Baghdad. Exports from Iraq will rise to 3.3 million barrels a day this year, boosted by oil from the Kurdish region, Abdul Mahdi said.
The Middle East nation, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions. The central government reached an accord last month with the Kurds to allow increased oil exports through Turkey. Oil prices have fallen about 56 percent since June amid a supply surplus on global markets.
Iraq will ship 60 crude cargoes, equivalent to 3.3 million barrels a day, from the Basrah Oil Terminal in the Persian Gulf in February, according to a preliminary loading program obtained by Bloomberg News today. The whole country exported 2.94 million barrels a day in December, the most since the 1980s,
http://fuelfix.com/blog/2015/01/19/i...meting-prices/
Crude Oil Inventory Soars by 10 Million Barrels
Read more: Crude Oil Inventory Soars by 10 Million Barrels - 24/7 Wall St. http://247wallst.com/energy-economy/...#ixzz3Pa031R9b
http://news.yahoo.com/us-running-roo...--finance.htmlThe U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months.
For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week.
If this keeps up, storage tanks could approach their operational limits, known in the industry as "tank tops," by mid-April and send the price of crude — and probably gasoline, too — plummeting.
"The fact of the matter is we are running out of storage capacity in the U.S.," Ed Morse, head of commodities research at Citibank, said at a recent symposium at the Council on Foreign Relations in New York.
Morse has suggested oil could fall all the way to $20 a barrel from the current $50. At that rock-bottom price, oil companies, faced with mounting losses, would stop pumping oil until the glut eased.
refinery strike over, let's see if gas goes back well under $2
Count on it.
lol "well under".
The plunge is kicking the holy out of royalties tho.
That should make the moonbats happy.
Last edited by TeyshaBlue; 03-15-2015 at 08:16 AM.
Damn.
Nailed.
Its good to know some events have consistency. It's sort of a comfort; if that makes any sense.
Last edited by pgardn; 03-15-2015 at 12:52 AM.
You really don't get how difficult markets can be.
Can you possibly break free and want the truth?
Just take a step back and pile on the variables.
For your own sanity.
Last edited by pgardn; 03-15-2015 at 12:52 AM.
you really don't have a ing clue, nutjob
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