this should be interesting
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this should be interesting -
My question is... didn't we use to buy oil from Saudi Arabia?
Who do we buy from now?Comment -
Lol if u guys think Saudia Arabia will be brokeComment -
Notice it says they are running out of money. Not oil.
They aren't running out of money either. Just not as much money from oil pumping as their used to be and the Saud royals ain't taking any cuts. That only leaves their population to take the hit.Comment -
The Clash was light years ahead of their time!...
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iran will crush them straight up in a conflict. line @5dimes iran -210Comment -
Y'all must not know why gas prices are so low..they have been purpously flooding the market to drop oil prices below 60 a barrel so they will close shop here..those folks have an unlimited supply..Comment -
don't we get 40% of our oil from Saudi Arabia?Comment -
SA's economy is built around pressuring oil prices up - and the price of oil collapsed.
Who is dumb enough to think that $36 oil won't have a bad effect on that country?Comment -
They purposely flooded the market but that was a risky move and things didn't break their way. They did not foresee or intend to have oil down to $50 and lower (in the 30s now); did not foresee drop off of Chinese demand; did not foresee having to finance military campaigns - which is expensive as shite.
We covered all this somewhere on SBR about a month ago, actually.Comment -
I heard the Royal family will be dining only on golden plates now instead of platinum. Rough times.Comment -
One can only hope they all kill each other. These people are completely incapable of being peaceful.Comment -
not in our lifetime but in 10 more they will be well on their way. A white man is the reason Saudi Arabia is where it is today but once they run out of oil they will truly have nothing to sell to the world. They sure as hell don't create or innovate outside the scope of oil production.Comment -
They have pumped so much oil out now - wasted a lot - broken dikks might be the least of their worries. Oklahoma has so many earthquakes now because of "fracking" which will keep getting worse. North Dakota might have the same problem.
I still think anything America can do to be totally independant of foreign oil is worth it but, that being said energy of any kind needs regulation to avoid these manipulation issues. Just like the power companies.Comment -
All Saudi Arabia need to do is put everything on the Packers this weekend. Double profits. You're welcome SaudiComment -
$31 oil and not rising any time soon.
Hello broke dikk fukks.Comment -
Saudis have always known it couldn't last. Broke dikk desert dwellers from the beginning only hooked up by Europeans who knew how to get their resource ... they'll be riding camels again around sand covered ghost towns, yes, that means you too UAE
The only Arabs ever worth a sh*t were the Christian ones and they are almost all killed or exiled, more proof that the bedouin moonrock worshippers get what they deserve. When you can't give your people that stipend, haha, watch what happens --- better ask Uncle Owen and Aunt Beru how to harvest moistureComment -
Now Iran will flood the market will oil and Saudi stocks taking a beating. Say hello to broke dikk fukks, as suddenly the guys who've been talking oil in the teens are taken seriously.Comment -
these people were eating on the floor 50 years ago, using their camels to keep them warm at night.
They used gasoline to clean their hands..
they are a rags to riches over night story 100%.. and when that shit happens.. its very possible for it to be undone..
its a country with little leadership. and zero diversification..
Lets not forget they have managed to piss off everyone ...Comment -
Where are all the oil speculators? Any arab that sneezed, the market went up. Now we have Iran and Saudi Arabia fighting and oil is going down?
See what happens when speculators abandon a market? It goes to where it's suppose to be. Supply and demand.
Why the price of oil going down is affecting the markets is beyond me. China's market crashing is a monkey see,
monkey do thing, more so than the price of oil.Comment -
Saudi Arabia has 265 billion barrels of oil underneath itComment -
I have no idea what you're trying to get at here.
Who are the speculators who've left the oil market? It's a massive market with no more or less speculators now than ever. You think there haven't been shorts who got killed in the past or longs not getting killed today?
The only reasons oil is down is precisely because supply/demand issues. Soft international demand and a glut of supply. Producers not acting in harmony and all want to maximize output. The shite is going to $20 ($29 now).Comment -
Speculators are a good thing, risk takers providing liquidity in a market place.
OPEC is (was?) coalition of oil producing nations that cooperated output to keep prices artificially high. That cooperation is in tatters today. Pity. http://www.businessinsider.com/afp-g...an-deal-2016-1Comment -
Crazy stuff is going on. This should be a 3-day weekend but I know some energy traders/analysts and traders in international securities called in to work today (Sunday) and tomorrow because sh*t is going down. Dubai real estate crash, big Russian recession, and oil will continue to tank.
While we do get cheap gas prices, everything else - is not so good.Comment
I grew up there...absolutely no way this country will be broke
