Political Crossfire Forums

is the cartel crumbling?

saudi arabia is no longer willing to risk losing market share as oil prices continue to drop... and may reach down to 40 a barrel. this is causing fractures in the cartel, all frakked up

http://www.telegraph.co.uk/finance/news ... ollow.html

russia won't cut either, but this is really hurting them

http://online.wsj.com/articles/russia-w ... 1416942810

opec, by allowing prices to be driven by north american oil production, is now putting worse economic hurt on the russians that the western world did with sanctions. of course, this is not without hurt on american oil companies either: at 40 a barrel it's flirting with being economically unfeasible to continue mining operations, and certainly unfeasible to start anything new.

still, filling up for a car for 23 dollars the other day was nice

What kind of car did you fill up for $1.25 per gallon?

I'm not sure if they are directly trying to screw us over, or if they are colluding with us to screw over places like Iran, Russia, and Venezuela. It sounds like Venezuela was pretty much crying, screaming, and stomping their foot at the OPEC meeting. The real victim is Nigeria.

it's bad for shale oil. otherwise it's not too terrible.