The price of crude oil..... my jaw dropped

Court Jester said:
Australia does produce oil but gas would be a better fuel source its a pity it has lost its populrity
Click to expand...

Lets be realistic Australia produces jack stuff of oil.

So this is great news that Russia and Saudi are increasing oil production to go mid $30 per barrel
 
Ipv6Ready said:
Lets be realistic Australia produces jack stuff of oil.

So this is great news that Russia and Saudi are increasing oil production to go mid $30 per barrel
Click to expand...
they could be working together to kill oil shells competitors
remember when oil was above $150 fall to $50...we heard not much about oil companies going buzz
this move is the second bullet on the head of oil companies
 
Shaddam IV said:
Australia needs it's own refineries again after the Australian unions that work for Beijing made sure that they were shut down. A supply from the USA might not be a bad idea because currently all of our refined fuel comes from Singapore via tanker and the Chinese Communist Party could cut our complete national fuel supply with ease.
Click to expand...

yer we gave up allot of self reliance with the closure of our refineries.
But imagine the protests from the greenies if we opened a few new ones up.
Although maybe a big recession where these greenies find the value of their trust funds have dropped down in value big time and as result put them back in the real world where they will find out what its like to struggle with every day issues.
As a result They may Just get a chance to find out what its like to live in a country running with out fossil fuels. I bet they wont like it very much and finally shut up about it.
30 years with out a recession is a long time to forget what one feels like, so it will be interesting to see how quickly this Green craze lasts once People feel the pinch from a recession.

As for gas in cars, it was great when it was cheap eg 30cents when Petrol was $1, but these days the price of the shit is just stupid.

Ipv6Ready said:
Lets be realistic Australia produces jack stuff of oil.

So this is great news that Russia and Saudi are increasing oil production to go mid $30 per barrel
Click to expand...

it would be fine, if you believed once they killed the competition they wouldnt just jack the prices to stupid levels once they have a full blown monopoly.

short term might be fine, long term you have to be very suspect on it
 
Last edited:
Jason1 said:
As for gas in cars, it was great when it was cheap eg 30cents when Petrol was $1, but these days the price of the shit is just stupid.



it would be fine, if you believed once they killed the competition they wouldn't just jack the prices to stupid levels once they have a full blown monopoly.

short term might be fine, long term you have to be very suspect on it
Click to expand...

They can jack it up to $100, but the US shale production will sky rocket above $60. So Saudi and Russia could coordinate to keep oil at $55.
US banker won't invest at $55 break even, once they have learned their lesson, they are not stupid

As for 30c petrol, this would be great
 
alor said:
they could be working together to kill oil shells competitors
remember when oil was above $150 fall to $50...we heard not much about oil companies going buzz
this move is the second bullet on the head of oil companies
Click to expand...

50% US shale breaks even at $50
25% US shale breaks even at $35

If fundamentals were at play US should be pumping 5 to 6 million barrels not 13 million at 50 usd oil
 
You must log in or register to reply here.
Back
Top