Oil is going under $30 a barrel now

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The Something Awful Forums > Discussion > Debate & Discussion > Oil is going under $30 a barrel now

BabelFish: Jul 20, 2013; Fallen Rib

JeffersonClay posted:

SA is squeezing out economic competitors--giving them a good sweating like Carnegie said. It also serves their regional interests because it cuts into Iran's coming post-embargo and Isis' current oil profits.

Sustained high oil prices also cause investment in alternatives, something SA would like to avoid for as long as possible.

# ¿ Jan 13, 2016 03:28

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# ¿ May 22, 2024 07:09

BabelFish: Jul 20, 2013; Fallen Rib

tsa posted:

Wow a lot of people seem to think this is SA's doing when really they don't have a choice at all in the matter. Cutting production would accomplish nothing for them, it's not the 80s anymore. They need cash and they can pump profitably at just about any price, pump and pray is about the only choice they have right now.

This much is true, it's a combination of factors on both the supply and demand side. However, OPEC pretty much falling apart when SA said it wouldn't cut output (for a variety of reasons) was one of the initial dominoes on the the supply end of things.

# ¿ Jan 13, 2016 03:56

The Something Awful Forums > Discussion > Debate & Discussion > Oil is going under $30 a barrel now