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JimDandy

(7,318 posts)

11. Cheap Saudi oil prices are also hurting US shale oil production

Reply to Thinkingabout (Reply #6)

Thu Oct 30, 2014, 12:29 PM

Oct 2014

A large portion of US oil is locked up in shale rock and it becomes un-economical to extract if oil goes below $82 a barrel. Whatever Saudi's stated reason, their real reason is likely different.

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They told us the cost of living was so high because of gas prices [View all] J_J_ Oct 2014 OP

good point. nt raccoon Oct 2014 #1

Only because telling it was because of greedy unions causing inflation Warpy Oct 2014 #2

also speculation on our commodities driving costs for excess profits J_J_ Oct 2014 #14

+1. I'm sick of that canard too Populist_Prole Oct 2014 #15

Don't worry, when gas prices go back up, they'll raise everything else. Again. Scuba Oct 2014 #3

the prices of many goods are "upward sticky", prices at the pump being the most notorious example. unblock Oct 2014 #4

My heat went down strawberries Oct 2014 #5

The world oil prices have gone down for a reason, Saudi is flooding the market with crude Thinkingabout Oct 2014 #6

Cheap Saudi oil prices are also hurting US shale oil production JimDandy Oct 2014 #11

It is in the interest of the US also, we have placed sanctions on Russia, their economy is hurting. Thinkingabout Oct 2014 #12

The "unconventional" costs have a lot of hot air built into them Sen. Walter Sobchak Oct 2014 #13

I love it how.... sendero Oct 2014 #7

Not going to happen. William769 Oct 2014 #8

The electricity used to heat my house comes mostly from hydro Bluenorthwest Oct 2014 #9

My heating bill will be much lower Travis_0004 Oct 2014 #10