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Post by AztecBill on Jan 7, 2015 10:25:09 GMT -8
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Post by aztecwin on Jan 7, 2015 13:22:22 GMT -8
Pretty interesting graphic presentation. I will venture to9 say that the falling prices and increased supply will change things again. We need oil prices to be high enough to keep production in the US going higher and low enough to keep the Saudis hurting so that they will try to keep their revenue stable by pumping more oil even at lower prices. It is a challenging balancing act that is really important to us.
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Post by AlwaysAnAztec on Jan 7, 2015 14:02:50 GMT -8
Pretty interesting graphic presentation. I will venture to9 say that the falling prices and increased supply will change things again. We need oil prices to be high enough to keep production in the US going higher and low enough to keep the Saudis hurting so that they will try to keep their revenue stable by pumping more oil even at lower prices. It is a challenging balancing act that is really important to us. The Saudis not cutting production is already hurting. They can produce oil at $10.00 per barrel whereas our cost is 40 - 70 per. |
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Post by AztecBill on Jan 7, 2015 15:16:26 GMT -8
We need to export oil. Hopefully the new congress will remove that restriction. We can currently export refined oil as gasoline (for instance), but that requires sufficient refineries for more than we consume and it is more dangerous. The Saudis take advantage of our stupid law by selling us oil below the world market price. Being able to export oil will stop that practice, which will be good for all - in the long run.
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