Citi: Oil Could Plunge to $20, and This Might Be 'the End of OPEC'

[Timothy Marley]

Isn't this dealing with the Keystone Project as well?

 

[Domingo Halliburton]

Isn't this dealing with the Keystone Project as well?

well the reason Obama doesn't want to do it is environmental. but yes, the oil drop is certainly affecting the Canadian tar sands industry that the Keystone pipeline would have transported.

 

[Type Username Here]

This is the United States trying to stifle the Russian economy. This is just a tool that the US is using temporarily to destabilize Russia. Once Russia learns its lesson oil will go back to being $5 per gallon. This is a collusion betweenthe United States and Saudi Arabia.

And it's a brilliant move in all honesty. This is economic warfare in the highest order.

 

[Domingo Halliburton]

This is the United States trying to stifle the Russian economy. This is just a tool that the US is using temporarily to destabilize Russia. Once Russia learns its lesson oil will go back to being $5 per gallon. This is a collusion betweenthe United States and Saudi Arabia.

But does the United States not hurt themselves doing that? They would be essentially destroying the shale industry that has been one of the biggest drivers of growth and employment in this recovery.

 

[Family Man]

But does the United States not hurt themselves doing that? They would be essentially destroying the shale industry that has been one of the biggest drivers of growth and employment in this recovery.

If there is any hurt it will only be short term. They just need to apply the pressure long enough to make Russia (and Iran) suffer. This is just a geopolitical move.

 

[TLR Is Mental Poison]

But does the United States not hurt themselves doing that? They would be essentially destroying the shale industry that has been one of the biggest drivers of growth and employment in this recovery.

Yea the more I think about it the more the whole "economic war" thing is BS

The world is in a low key recession masked by credit. The price drops are from low demand and wild oversupply. Watch China.

 

[dtownreppin214]

I never thought WTI would hit 50 but here we are....

Will back up the truck on OIH when WTI hits $35

Can't say I'd care if they did.

it's amazing how many in the industry make six figures in that industry. they've ate well the last few years, can't say I'm feeling too guilty either.

 

[unit321]

Gas prices are rising again. It did hit a low of $1.71/gal but now it's back up to $1.99/gallon of 87 octane

 

[THASTUNNA]

gas prices here in Houston went up .20 cents in last week. Me and my wife are in the oil and gas industry. It's hurting my job right now but our back log is still strong.

 

[FaTaL]

lies

the only reason the price of oil is going down is to collapse the russian economy

 

[shonuff]

its only a slight increase and thats only because the refineries are about to switch the type of fuel they are making and the oil they use to make it for the spring and summer season

in other words the price is going up because more refineries are swtching their facilities

there is a small action in the dakotas over worker conditions but that is unlikely to result in a strike

teslas are only becoming popular because the pricepoint is moving closer to what it costs for a a car that is considered affordable

not because the technology for them is so great -

 

[Wild self]

its only a slight increase and thats only because the refineries are about to switch the type of fuel they are making and the oil they use to make it for the spring and summer season

in other words the price is going up because more refineries are swtching their facilities

there is a small action in the dakotas over worker conditions but that is unlikely to result in a strike

teslas are only becoming popular because the pricepoint is moving closer to what it costs for a a car that is considered affordable

not because the technology for them is so great -

They need to put more Teslas on the road with higher efficiency and lower pricepoints. End the dependency on foreign oil.

 

[Trajan]

US shale oil producers would go bust at $20/gallon oil. Very unlikely to happen.

Ya diiiig

 

[Ghost Utmost]

I mean this shyt is one of the things that make the world go round and all the major players...the US...it's allies...the Saudi's

Their money is all intertwined. I feel like there's way too much money involved in that shyt for it to all of a sudden become incredibly inexpensive while the supply is increasingly dwindling and the alternatives are not in place.

I wonder about the idea of running out of oil. I guess we'd have to eventually but they never imagined doing some of the things we can do now to extract it.

Let's say we will. We'll switch to the alternatives when we have to, so they can basically ride oil til the wheels fall off then switch.

 

[Cynic]

question is whose buying up oil stock and exploration companies right now ? :pharrell: