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joshcryer

(62,536 posts)

44. OPEC used to slow production with slowed demand.

Reply to Spider Jerusalem (Reply #29)

Mon Dec 15, 2014, 01:00 AM

Dec 2014

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Crude is below $60. Literally everything you've been told before about energy is wrong right now. [View all] Recursion Dec 2014 OP

I think the sheiks have decided to cash out and forget it. MohRokTah Dec 2014 #1

267 billion barrels of proven oil reserves in Saudi alone makes your claim doubling entertaining. Fred Sanders Dec 2014 #9

Says who? The Saudis? CanonRay Dec 2014 #34

You're correct JonLP24 Dec 2014 #37

Definitely a tipping point for global climate change Fumesucker Dec 2014 #2

Literally everything? I was told E=mc2. That is wrong right now? DesMoinesDem Dec 2014 #3

Yes, those are also wrong. Recursion Dec 2014 #4

The latter has been known to be wrong since the Manhattan project. Donald Ian Rankin Dec 2014 #25

There are probably a lot of families that are making good use of the savings on gas prices. Travis_0004 Dec 2014 #5

Meaning what? oberliner Dec 2014 #6

there is another OP around here Mosby Dec 2014 #7

Actually it is Saudi Arabia trying to kneecap the shale oil producers hack89 Dec 2014 #14

makes sense Mosby Dec 2014 #16

Venezula and Russia are fucked hack89 Dec 2014 #17

No, that just makes it a twofer for the Saudis Nevernose Dec 2014 #33

And like I said in Nov, it makes no sense. joshcryer Dec 2014 #20

It makes sense in that the prices going back up is exactly what Saudi Arabia wants JonLP24 Dec 2014 #38

Actually, the Saudis may be more interested in knee-capping Iran and maybe Russia. amandabeech Dec 2014 #39

It was a bubble market. hunter Dec 2014 #8

So all that stuff about "peak oil" was nonsense? (nt) Nye Bevan Dec 2014 #10

In fairness, I did say that years ago (nt) Recursion Dec 2014 #11

All a bunch of lies to justify the artificially high prices. Jesus Malverde Dec 2014 #41

Yes well I rolled my eyes long ago on the oil FUD bullshit. Rex Dec 2014 #12

The spotted owl killing off the timber industry in the West theory was bullshit, too. Major Hogwash Dec 2014 #32

Is it really? Spider Jerusalem Dec 2014 #13

You've always struck me as a guy who knows his shit. If what you're saying is true. We're gonna Guy Whitey Corngood Dec 2014 #40

Yeah, it's a grenade. I don't think anybody knows what the effects will be. bemildred Dec 2014 #57

People said the same when oil plunged into the $40/barrel range during the Great Recession NickB79 Dec 2014 #15

That happened during a global recession with low demand. joshcryer Dec 2014 #19

... Spider Jerusalem Dec 2014 #22

The point is the trigger. joshcryer Dec 2014 #26

The trigger is the economic slowdown in China and Europe. Spider Jerusalem Dec 2014 #29

OPEC used to slow production with slowed demand. joshcryer Dec 2014 #44

Except when they didn't. Spider Jerusalem Dec 2014 #49

Do you think that's happening again? joshcryer Dec 2014 #50

I think it's certainly a possibility, considering the recent tensions with Russia over Ukraine. Spider Jerusalem Dec 2014 #53

I would be surprised if the US or Kerry had that influence anymore. joshcryer Dec 2014 #54

The US supplies Saudi Arabia with their military hardware. Spider Jerusalem Dec 2014 #55

China and Europe do not profit from high oil prices NickB79 Dec 2014 #42

The EIA report explicitly mentions Russia. joshcryer Dec 2014 #45

We're currently seeing falling demand from Europe and China as their economies slow NickB79 Dec 2014 #23

No, the lower forecast is due to projected economic slowdown. joshcryer Dec 2014 #24

A recession next year would be real convenient doc03 Dec 2014 #35

It's crazy land. joshcryer Dec 2014 #18

The Saudis are doing us a huge favor. Vinca Dec 2014 #21

It's killing Putin. dawg Dec 2014 #27

It's being manipulated Warpy Dec 2014 #31

Thanks. First one here to get it. n/t truth2power Dec 2014 #56

Any need now for the XL pipeline has vanished in to thin air!! Major Hogwash Dec 2014 #28

It's going to kill off the tar sands for a while Warpy Dec 2014 #30

Renewable energy relies more on natural gas. joshcryer Dec 2014 #46

I don't get it JonLP24 Dec 2014 #36

This guy obviously gets the credit.... Adrahil Dec 2014 #43

I see this as is a temporary political ploy herding cats Dec 2014 #47

The real danger is that declining prices will lead to increased use bhikkhu Dec 2014 #48

Everything except that current price is 'actual demand' House of Roberts Dec 2014 #51

Crude at $60/bl isn't a tipping point; dosn't change anything in the long run. Albertoo Dec 2014 #52