OPEC Sweats: How Low Can Oil Prices Go?
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  • Pait

    Interesting. It would be interesting to see where Venezuela is in the graph.

    Just one correction: the fall of oil prices since 2008 has at least as much to do with the recession in the rich countries as with increased production. Geopolitically, shale gas is a “good thing”, but not all sources of energy are the same, and in the short run prices are controlled more by supply and (in this case more importantly) demand than by technological changes.

    • Patrick Carroll

      My God! So that’s why The Won is laying waste the American economy!

      That’s … brilliant!

      I mean, he sees his job as to manage American decline. American decline means less to go around for everyone. American experiences a decline, the world experiences the dark ages.

      That’s not brilliant. That’s … AWESOME!

      • Pait

        WRM, I am sorry that you have to moderate comments again. I’d rather grade exams 😉

  • rheddles

    Cutting production won’t help unless the revenue effect of the volume decrease is more than offset by the price increase. And as a price increase is likely to cause a recession with consequent reduction in demand, this is unlikely to happen.

    This is a real shame, as the countries that will be hurt are such upstanding members of the international community. Drill, baby, Drill.

    • Bob_from_Ohio

      Yeah, look at the Iran line.

      Too bad for them.

  • Pete

    I wonder if any OPEC countries are channeling money in someway to the environmental kooks in the U.S.

    • Fred

      I’m not aware of any evidence to that effect, but it certainly sounds plausible.

    • Misanthrope

      You can start with the movie “Promised Land,” which was largely funded by the UAE.

      • Pete

        Bingo!

  • Pete

    And say, wasn’t it that ‘genius’ Henry Kissinger who manipulated oil prices higher in the 1970s to keep Iran stable?

    There it is. By hook or by crook, the our elite — the masters of the universe — think U.S. citizens are suppose to subsidizes the entire world so those globalists can move the world’s chess pieces around to their satisfaction.

    No wonder the Jacksonians despise Washington so.

  • ljgude

    It couldn’t happen to a nicer bunch of blackmailers. Now lets put someone in the White House in 2016 who will appoint Ms. Palin to run the Department of Energy. Then we’d see the arms and legs really fly.

  • Rich K

    The gulf states are sitting very pretty even at $70 a barrel so this is a rather hyped premise on Walters parts for those states.The big worry is Iran trying a Saddam like move on those states.

  • Patrick Carroll

    What’s the break-even point for oil from the North Sea – from the UK and Norway? How about Nigeria? Mexico? The world does not revolve around the Middle East and the ‘stans.

    I say push the price down to $95 in the short-term, to cause the nutters to implode, and then let’s see a graph with all the oil producers and their break-even points, and decide who to starve next.

  • SDN

    Don’t worry, Obama’s EPA will keep his co-religionists happy.

  • Funny how the price of “oil” can go down, but the price of GASOLINE can keep going up. Funny how that works, huh?

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