Originally posted by Platypus
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Reply to: Winners and Losers
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Previously on "Winners and Losers"
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Long term oil price is 20 bucks per barrel, it's been crazy overpriced all these years and now it's going back to normality (one would hope).
Before OPEC it was 15 bucks.
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Originally posted by Batcher View PostThe fact it's harming other allies like UK is a price worth paying for our bestest friends over the pond.
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Originally posted by EternalOptimist View PostIt might also be an indirect attack on the US shale oil industry which is not exactly fledgling, but is in its technological infancy
I do hope that we (UK) are gobbling up lots of cheap oil while we can.
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Originally posted by tractor View PostI hate to reopen the wound but Salmond had a lot of faith in his future oil revenues ISTR? I wonder what the current situation would have done to his spreadsheet?
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Originally posted by EternalOptimist View PostThe USA and the Saudis are 'sort-of' on the same side, in the same camp. There may be a bit of jostling, but they are mostly singing from the same hymn sheet.
Saudis reluctance to support the oil price might be due to one of the conspiracy theories ^^
but it might equally be simply keeping their OPEC buddies in line, showing them who is boss
who knows ? I dont
As for Scotland, the oil industry will survive but will shrink for a bit. It was always said it was a bonus and we would have had an oil fund set up to cover eventualities like this low oil price rather than spunking it up a wall like Westminster has done.
Also, independence wouldn't have happened until 2016 so it would still be a UK problem at the moment even after a Yes vote.
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Won't even try to guess which way this will bounce, fortunately I am diversified across the globe so not worried about BP and Russian index allocation currently tanking.
Holding nerve has always worked in the past so I will just do that and if either goes completely bump, they represent only a small part of my portfolio.
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Originally posted by NickFitz View PostI'm no expert on the international oil markets, but I understood that the Saudi's have been flooding the market too, to the annoyance of the Americans. One theory is that the Saudis would benefit long-term from US oil companies going under due to a collapse in the oil price. The Americans can't do a lot about it because they need the Saudis on their side against Russia.
But this is all based on something I half-read after coming in from the pub around New Year, so maybe I misunderstood. (Mind you, this is General, so that shouldn't matter.)
Saudis reluctance to support the oil price might be due to one of the conspiracy theories ^^
but it might equally be simply keeping their OPEC buddies in line, showing them who is boss
who knows ? I dont
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I'm no expert on the international oil markets, but I understood that the Saudi's have been flooding the market too, to the annoyance of the Americans. One theory is that the Saudis would benefit long-term from US oil companies going under due to a collapse in the oil price. The Americans can't do a lot about it because they need the Saudis on their side against Russia.
But this is all based on something I half-read after coming in from the pub around New Year, so maybe I misunderstood. (Mind you, this is General, so that shouldn't matter.)
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Originally posted by original PM View PostAs I understand it there is an increase in oil available on the market - which is driving prices down.
But this is all to do with embargoing Russia so that they cannot sell their oil at a competitive price (mainly because it costs more to extract from Siberia apparently).
So OPEC are allowing the price to drop to price the Russians out of the market.
But it is all manipulation!
So generally until Russia withdraw from the Ukraine oil prices will remain low.....
So do we want Russia to withdraw from the Ukraine?
It might also be an indirect attack on the US shale oil industry which is not exactly fledgling, but is in its technological infancy
who knows. I dont
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Originally posted by eek View PostIt's a real shame they didn't vote Yes so we could watch it play out..
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Robin Allan, chairman of the independent explorers' association Brindex, says it is "almost impossible to make money" with the oil price below $US60 a barrel and there will be no new investments.
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As I understand it there is an increase in oil available on the market - which is driving prices down.
But this is all to do with embargoing Russia so that they cannot sell their oil at a competitive price (mainly because it costs more to extract from Siberia apparently).
So OPEC are allowing the price to drop to price the Russians out of the market.
But it is all manipulation!
So generally until Russia withdraw from the Ukraine oil prices will remain low.....
So do we want Russia to withdraw from the Ukraine?
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Originally posted by tractor View PostI hate to reopen the wound but Salmond had a lot of faith in his future oil revenues ISTR? I wonder what the current situation would have done to his spreadsheet?
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Originally posted by tractor View PostI wonder what the current situation would have done to his spreadsheet?Originally posted by Salmonds 'Scotland economy' spreadsheet
#VALUE!
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