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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.Venomous posted:So will this gently caress over Hillary in the general? Not as much as Trump will schlong her. Trabisnikof posted:The other thing, besides fracing that's driven down the price is climate change. The realities of climate change means that there becomes a point in the out-years where the future value of oil reserves approaches 0. That's why you see aramco thinking about selling shares and the Saudis pumping like no tomorrow. Because they recognize that there will only be a few decades left to pump their oil before it becomes worthless. Better to sell barrels at $30 or $20 than not at all. Where in the hell do you get this from? There's no way in hell CC drives oil to 0 that doesn't make any sense whatsoever. Gas is an incredibly useful resource and so long as someone can profitably extract it there will be someone who wants to burn it. tsa fucked around with this message at 03:40 on Jan 13, 2016 |
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Jan 13, 2016 03:36
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Aeka 2.0 posted:http://www.fox2detroit.com/news/local-news/76375172-story It's funny that after all the doom and gloom of PEAK OIL we are seeing, quite literally, the cheapest gas prices the country has ever seen in 2016.
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Jan 21, 2016 01:32
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