Won't phase the US, but Putin won't be happy.


Saudi Arabia plans to increase oil output next month, going well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.

The world's largest oil exporter started a price war on Saturday by slashing the prices it sells crude into foreign markets by the most in at least 20 years, offering unprecedented discounts in Europe, the Far East and the U.S. to entice refiners to purchase Saudi crude at the expense of other suppliers.

At the same time, Saudi Arabia has privately told some market participants it could raise production much higher if needed, even going to a record of 12 million barrels a day, according to people familiar with the conversations, who asked not to be named to protect commercial relations. With demand being ravaged by the coronavirus outbreak, opening the taps like that would throw oil market into chaos.

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war?sref=5F8Ao01j

Oh wow..........

Street vendors will be selling barrels of oil with a free windshield cleaning by the side of the road....

Quote from: taxed on March 07, 2020, 10:12:09 PM
Oh wow..........

Street vendors will be selling barrels of oil with a free windshield cleaning by the side of the road....

Putin will have the police shaking them down, he's going to need every Ruble he can get, this is going to kill his economy.
Why do I get the feeling trump had something to do with this?

Quote from: Solar on March 08, 2020, 05:51:58 AM


Putin will have the police shaking them down, he's going to need every Ruble he can get, this is going to kill his economy.
Why do I get the feeling trump had something to do with this?

Also further squeezes Iran.

Quote from: supsalemgr on March 08, 2020, 06:37:36 AM
Also further squeezes Iran.

Yep, the entire M/E as well as Venezuela. All of these nations rely solely on oil for their income, and that just took a huge hit.
Trump most definitely is involved.

If the price gets too low it will eventually have an impact on American production. There is a break even point on keeping wells running. I witnessed this in the 70's when the price soared and everyone and their brother got into the lease and drilling business. It is pure supply and demand.

Quote from: supsalemgr on March 08, 2020, 09:19:16 AM
If the price gets too low it will eventually have an impact on American production. There is a break even point on keeping wells running. I witnessed this in the 70's when the price soared and everyone and their brother got into the lease and drilling business. It is pure supply and demand.

No doubt, but in this economy, if you get laid off, finding work in the interim is a breeze, not to mention these people are making damn good money, so most could easily weather a downturn.

I doubt it will be an issue, I think Trump has his hand in all of this. It was designed to show Putin who is in charge of the world oil mkt, and if Putin wants to participate, he'll back out of Syria.
Anyway, I think that is one of the issue most important at the moment, that, and knocking Putin off his high horse and back into his high chair like the petulant child he is.

Quote from: Solar on March 08, 2020, 09:35:11 AM
No doubt, but in this economy, if you get laid off, finding work in the interim is a breeze, not to mention these people are making damn good money, so most could easily weather a downturn.

I doubt it will be an issue, I think Trump has his hand in all of this. It was designed to show Putin who is in charge of the world oil mkt, and if Putin wants to participate, he'll back out of Syria.
Anyway, I think that is one of the issue most important at the moment, that, and knocking Putin off his high horse and back into his high chair like the petulant child he is.

Kinda makes you think every president from carter thru obama was a dumb ass. To think of all the years we paid high prices for gas, and all the lies we kept hearing. these are the little victories Trump does not get enough credit for.

Quote from: s3779m on March 08, 2020, 05:43:21 PM
Kinda makes you think every president from carter thru obama was a dumb ass. To think of all the years we paid high prices for gas, and all the lies we kept hearing. these are the little victories Trump does not get enough credit for.

Oh man, I know what you mean. and hindsight being 20/20, it's obvious the swamp liked the little deal they had worked out for kickbacks.

Quote from: Solar on March 08, 2020, 05:49:04 PM
Oh man, I know what you mean. and hindsight being 20/20, it's obvious the swamp liked the little deal they had worked out for kickbacks.

Nailed it.

Excellent thread...

https://threadreaderapp.com/thread/1236435333593653248.html

Gas continues to drop...

https://www.gasbuddy.com/GasPriceMap?lat=38.822395&lng=-96.591588&z=4

Quote from: taxed on March 08, 2020, 09:53:19 PM
Excellent thread...

https://threadreaderapp.com/thread/1236435333593653248.html

Where have you heard that before? Oh, and I knew from the start Trump had his hands in all of this. He wanted to slap Putin down for agitating in the M/E, so he sent a solid message, that if you don't dump Syria and Iran, I'll pull a Reagan on your ass and collapse your economy.

Putin just got his ass spanked in front of the entire world! Xi, turns blind eye, snickers at Putin, then quickly gains composure, knowing he could easily suffer a worse fate.

I love this man, he isn't afraid to use his powers for good!

Quote from: Solar on March 09, 2020, 06:09:30 AM

Where have you heard that before? Oh, and I knew from the start Trump had his hands in all of this. He wanted to slap Putin down for agitating in the M/E, so he sent a solid message, that if you don't dump Syria and Iran, I'll pull a Reagan on your ass and collapse your economy.

Putin just got his ass spanked in front of the entire world! Xi, turns blind eye, snickers at Putin, then quickly gains composure, knowing he could easily suffer a worse fate.

I love this man, he isn't afraid to use his powers for good!

By now even the left should realize Trump is crushing our enemies without firing a shot. That is, if russia and china are considered enemies by the left. 

Quote from: Possum on March 09, 2020, 06:12:43 AM
By now even the left should realize Trump is crushing our enemies without firing a shot. That is, if russia and china are considered enemies by the left.

It's amazing, Trump saw our potential in killing off commies. He knew it was mostly the left in this country who were in charge of the corruption, the selling us out for their own gains.
But Trump knew this could all be reversed by bringing them to justice, then with a strong economy, bring our enemies to their knees.
Every time I hear an idiot lib blame Trump for something, all I see is one more ignorant fool, a willful idiot/tool of our enemies.

Watch war come to a halt in the M/E, as they all return to the negotiating table.