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originally posted by: Agent_USA_Supporter
a reply to: DrJunk
Yes Thank the Saudis for the creation of the ISIS and the fact that they are ones still backing them with finical support and lets thank the Saudis even more and why not lets give them there Syria to make Sure Saudi's Sunni influence is spread thorough the region.
Is that how you want to thank them? lets ignore what can be at stake at here.
www.informationclearinghouse.info... This did not happen because it would have to be the bankers (Rothschild / Rockefeller ] that are working with their plan and only using their political puppets as couriers . a reply to: Agent_USA_Supporter
“John Kerry, the US Secretary of State, allegedly struck a deal with King Abdullah in September under which the Saudis would sell crude at below the prevailing market price. That would help explain why the price has been falling at a time when, given the turmoil in Iraq and Syria caused by Islamic State, it would normally have been rising.”
WTI was at about $65.84 per barrel Friday, its lowest close in more than five years and nearly 40 percent below its June peak. The latest leg down came after OPEC last week followed the lead of Saudi Arabia and declined to cut production in order to stabilize prices. Saudi Arabia has said it would not go it alone with production cuts and is aiming instead to hold on to market share during the price slump, while shaking out the weakest producers.
"No matter how low oil prices go, there will be no (shale) production shut in. The cash component (cost) will be, say, $15, $20, $25," Gheit said, noting the expenditure for land and drilling has already been made. "Oil prices will have to go below $30 for some of these wells to be shut in, and even then the owners need the cash to survive. They will milk the cow until the cow drops dead."
Morse said one factor that could keep the U.S. shale industry drilling is that there are a high number of incomplete wells that could easily be turned into productive wells. He estimates that there are thousands of such wells in Texas, Oklahoma, North Dakota, Ohio and Wyoming.
Read MoreSorry, Iran—lower oil prices are a win for America
"There are a very large number of incomplete wells that have been drilled, and they're the cheapest ones to bring on. So, if companies are going to be strapped for cash, the best way to get cash is to complete wells ... the average for that completion is $5 a barrel to complete a well that's already been drilled," he said.
They've been at war with OPEC and basically trying to show eachother whose is bigger.
originally posted by: DrJunk
What exactly are we blaming the Saudis for? Lowering my gas bill?
Sounds more like he doesn't want to give credit to Obama for the lower prices. These same kooks were blasting him when gas was over 4 dollars a gallon, but now that it's low... umm... THATS BAD TOO!
originally posted by: Agit8dChop
For years the world has struggled with high prices because of an apparent lack of supply.
Now, when it favors them, the price halves on a moments notice.
Its becoming obvious how much the government is screwing us over!