What a load of crap! Fracking is more than just oil. It's also the reason were the top exporter of natural gas.
Go ahead Russia and OPEC, believe this nonsense at your own peril.
I sense fear amongst the players that never saw the US taking over production.


OPEC policy on crude production will ensure a crash in the U.S. shale industry, a Russian oil tycoon said.

The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year's slump in the oil price caused by surging supply from U.S shale fields.

American producers risk becoming victims of their own success. At today's prices of just over $70 a barrel, drilling is close to becoming unprofitable for some explorers, Leonid Fedun, vice president and board member at OAO Lukoil (LKOD), said in an interview in London.
http://www.bloomberg.com/news/2014-11-27/opec-policy-ensures-u-s-shale-crash-russian-oil-tycoon-says.html

Quote from: Solar on November 27, 2014, 02:11:30 PM
What a load of crap! Fracking is more than just oil. It's also the reason were the top exporter of natural gas.
Go ahead Russia and OPEC, believe this nonsense at your own peril.
I sense fear amongst the players that never saw the US taking over production.


OPEC policy on crude production will ensure a crash in the U.S. shale industry, a Russian oil tycoon said.

The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year's slump in the oil price caused by surging supply from U.S shale fields.

American producers risk becoming victims of their own success. At today's prices of just over $70 a barrel, drilling is close to becoming unprofitable for some explorers, Leonid Fedun, vice president and board member at OAO Lukoil (LKOD), said in an interview in London.
http://www.bloomberg.com/news/2014-11-27/opec-policy-ensures-u-s-shale-crash-russian-oil-tycoon-says.html

The real reason is to limit Iran's revenues which impacts Syria. It also, has an impact on Russia is supporting Syria.

Oil is down over $6 today. Russia's fragile economy cannot handle this level of oil pricing for an extended period of time.

Quote from: supsalemgr on November 28, 2014, 10:22:39 AM
Oil is down over $6 today. Russia's fragile economy cannot handle this level of oil pricing for an extended period of time.

That's some seriously bad news for an black mkt economy, with virtually only oil and military production supporting a socialist economy.
Putin is going to be feeling the heat real soon. And they have the audacity to claim our Free Mkt system can't handle the price drop?

Quote from: Solar on November 28, 2014, 10:53:17 AM
That's some seriously bad news for an black mkt economy, with virtually only oil and military production supporting a socialist economy.
Putin is going to be feeling the heat real soon. And they have the audacity to claim our Free Mkt system can't handle the price drop?

Isn't it ironic what Obama hates, lower oil prices, actually helps the U.S.? This is also bad news for ISIS with their stolen oil.

Quote from: supsalemgr on November 28, 2014, 11:22:41 AM
Isn't it ironic what Obama hates, lower oil prices, actually helps the U.S.? This is also bad news for ISIS with their stolen oil.

I know, the only ones benefiting from our oil production, is US.

Quote from: Solar on November 27, 2014, 02:11:30 PM
What a load of crap! Fracking is more than just oil. It's also the reason were the top exporter of natural gas.
Go ahead Russia and OPEC, believe this nonsense at your own peril.
I sense fear amongst the players that never saw the US taking over production.


OPEC policy on crude production will ensure a crash in the U.S. shale industry, a Russian oil tycoon said.

The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year's slump in the oil price caused by surging supply from U.S shale fields.

American producers risk becoming victims of their own success. At today's prices of just over $70 a barrel, drilling is close to becoming unprofitable for some explorers, Leonid Fedun, vice president and board member at OAO Lukoil (LKOD), said in an interview in London.
http://www.bloomberg.com/news/2014-11-27/opec-policy-ensures-u-s-shale-crash-russian-oil-tycoon-says.html

Not trying to gloat, but this exactly -- almost to the penny -- what I warned about weeks ago here. I had no idea it might happen so fast. 

EVANS-PRITCHARD: Saudis risk playing with fire in shale-price showdown  http://www.telegraph.co.uk/finance/oilprices/11263851/Saudis-risk-playing-with-fire-in-shale-price-showdown-as-crude-crashes.html

Oil at $40 seen possible as uncertainty reigns 
http://www.bloomberg.com/news/2014-11-30/oil-at-40-possible-as-market-transforms-caracas-to-iran.html

Russian Money Suspected Behind Fracking Protests
http://www.nytimes.com/2014/12/01/world/russian-money-suspected-behind-fracking-protests.html 

Russia Predicts It Will Tumble Into Recession Next Year

The Russian government has acknowledged that the country will fall into recession next year, battered by the combination of Western sanctions and a plunge in the price of its oil exports.

more @
http://www.nbcnews.com/business/economy/russia-predicts-it-will-tumble-recession-next-year-n259866

 
Never saw that coming.

Quote from: Solar on December 02, 2014, 03:10:09 PM

Never saw that coming.

That why I did not start a new thread. 

Quote from: walkstall on December 02, 2014, 03:14:40 PM

That why I did not start a new thread. 

Just marries with my point in the OP.

"Go ahead Russia and OPEC, believe this nonsense at your own peril.
I sense fear amongst the players that never saw the US taking over production."

Quote from: Solar on December 02, 2014, 03:44:41 PM

Just marries with my point in the OP.

"Go ahead Russia and OPEC, believe this nonsense at your own peril.
I sense fear amongst the players that never saw the US taking over production."

I am sure b o is on the RED phone seeing what he can do to help them out. 

Quote from: walkstall on December 02, 2014, 04:07:14 PM
I am sure b o is on the RED phone seeing what he can do to help them out.

Ya know, there's a lot of truth in that.
I have no doubt the Marxist is dealing from a point of weakness, and Putin will play it till the end.