PDA

View Full Version : Oil at $20



EternalOptimist
14th January 2015, 22:56
Last week, I was on about the dramatic fall in the oil price, down towards 50

I was talking about the various implications and the possible reasons. But I don't have a clue.


Now it looks like oil is on its way towards 20, and I am starting to get a clue.

It's starting to look like it's a deliberate attempt to wipe out the frakking industry. esp in the USA.
(apologies to those who saw this straight away)

In my Opinion - If a monopoly wants to wipe out the fledgling competition, we need to smack the monopoly, not the new players

Lockhouse
14th January 2015, 23:00
I think it's more an attempt to destabilise Russia and Iran.

EternalOptimist
14th January 2015, 23:03
I think it's more an attempt to destabilise Russia and Iran.

all good stuff imho

plus, it works the greens over, which makes me ver happy

anonymouse
14th January 2015, 23:26
If it drops production, then somebody else will produce more, which won't save the price per barrel, so we'll keep our market share and will pocket the cash. If that affects anybody else, then tough.

Oil prices and Saudi diplomacy: Kemp | Daily Mail Online (http://www.dailymail.co.uk/wires/reuters/article-2883702/Oil-prices-Saudi-diplomacy-Kemp.html)

AtW
14th January 2015, 23:39
I think it's more an attempt to destabilise Russia and Iran.

Disarm and that's not a bad thing.

ZARDOZ
15th January 2015, 00:06
Last week, I was on about the dramatic fall in the oil price, down towards 50

I was talking about the various implications and the possible reasons. But I don't have a clue.


Now it looks like oil is on its way towards 20, and I am starting to get a clue.

It's starting to look like it's a deliberate attempt to wipe out the frakking industry. esp in the USA.
(apologies to those who saw this straight away)

In my Opinion - If a monopoly wants to wipe out the fledgling competition, we need to smack the monopoly, not the new players

Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

AtW
15th January 2015, 00:09
Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

A small group of people with too much time on their hands will stop fracking from happening in this country.

fullyautomatix
15th January 2015, 05:40
Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

I think the current freehold covenants already include all sorts of restrictions on claim of landowner for natural resources under the land. If a gold vein is found on your land the crown has the right not the land owner.

MarillionFan
15th January 2015, 07:44
all good stuff imho

plus, it works the greens over, which makes me ver happy

Not really. It's how wars start.

suityou01
15th January 2015, 08:37
Not really. It's how wars start.

WHS

NorthWestPerm2Contr
15th January 2015, 09:20
all good stuff imho

plus, it works the greens over, which makes me ver happy

Why is that? Because of your blind western biased? Saudi are a rich ISIS funding all the terrorists around the world and thinking it has some kind of influence on the region. The reality is that Iran is far superior in terms of it's politics and influence on the region and ISIS Bedouin Saudi is just jealous.

DaveB
15th January 2015, 10:04
Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

The Crown already owns the mineral rights for Coal, Oil, Gas, Gold and Silver for the whole of the UK. The Govt. sells licenses to extract whatever it happens to be to the highest bidder.

For anything else the land owner holds the rights but extraction must be approved in the form of planning permission from the relevant mineral planning authority.

Platypus
15th January 2015, 10:55
the Marquess of Bute profited in the 19th Century from coal.

Funny you should mention him, I was at his (old) house the other day. Nice place it is too. Lucky barsteward.

petergriffin
15th January 2015, 14:34
There is an oil+currency war going on between USA on one side and China/Russia/Iran on the other.

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business. If then the US decided for war, Russia and China have enough nuclear weapon to retaliate.

GlenW
15th January 2015, 14:43
There is an oil+currency war going on between USA on one side and China/Russia/Iran on the other.

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business. If then the US decided for war, Russia and China have enough nuclear weapon to retaliate.
And Neil Armstrong did not go to the moon.

MyUserName
15th January 2015, 14:44
The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business.

Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.

petergriffin
15th January 2015, 14:46
Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.
Which one? The currency part or the oil part?

GazCol
15th January 2015, 14:48
It's probably a lot to do with ensuring ISIS cannot distribute oil for profit rather than any geopolitics between Saudi Arabia & Iran.

TestMangler
15th January 2015, 14:49
Funny you should mention him, I was at his (old) house the other day. Nice place it is too. Lucky barsteward.

Where ? Mount Stuart ??

petergriffin
15th January 2015, 14:49
Those who have the time and the brain power can read this (LONG!!):
http://www.atomcapital.co.uk/wp-content/files_mf/1416418354AR_1114.pdf

You might not agree but what John Butler says makes sense.

Platypus
15th January 2015, 15:00
Where ? Mount Stuart ??

Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

Platypus
15th January 2015, 15:50
Last week, I was on about the dramatic fall in the oil price, down towards 50

I was talking about the various implications and the possible reasons. But I don't have a clue.


Now it looks like oil is on its way towards 20, and I am starting to get a clue.

It's starting to look like it's a deliberate attempt to wipe out the frakking industry. esp in the USA.
(apologies to those who saw this straight away)

In my Opinion - If a monopoly wants to wipe out the fledgling competition, we need to smack the monopoly, not the new players

EO, article here:
Falling Oil Price slows US Fracking (http://www.oil-price.net/en/articles/falling-oil-price-slows-us-fracking.php)

written by Steve Austin. I wondered what he was doing these days. I wonder if his bionic arm lets him type really quickly?

TestMangler
15th January 2015, 16:23
Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

His 'main' residence is only a couple of miles from me. The current marquis spends about three weeks there a year too. House and grounds is about the size of a small city centre. Did manage to make him spit a drink once with a very poor motor racing gag :eek

barrydidit
15th January 2015, 16:29
His 'main' residence is only a couple of miles from me. The current marquis spends about three weeks there a year too. House and grounds is about the size of a small city centre. Did manage to make him spit a drink once with a very poor motor racing gag :eek

Oh, was that the famous front page on The Buteman with a picture of you looking disappointed and the headline Marquis Spits not Swallows?

Pondlife
15th January 2015, 16:29
Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

There's a number of places named after him/them around cardiff. If you go to the end of Bute St you arrive at Mount Stuart Sq.

TestMangler
15th January 2015, 16:30
Oh, was that the famous front page on The Buteman with a picture of you looking disappointed and the headline Marquis Spits not Swallows?

Unlike you mate, I've never appeared in The Buteman :laugh Even if your name was spelled wrong :smile

OwlHoot
15th January 2015, 16:35
Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

They don't have to pass any legislation. In the UK even large landowners who have mineral rights, can't claim ownership of precious metals or hydrocarbons under their land. The latter, such as coal and gas, have been vested in the Crown since the 1930s, when they were in effect nationalised.

barrydidit
15th January 2015, 16:37
Unlike you mate, I've never appeared in The Buteman :laugh Even if your name was spelled wrong :smile

It was a stealth operation. You ain't seen me, right? :glasses

ZARDOZ
15th January 2015, 19:20
They don't have to pass any legislation. In the UK even large landowners who have mineral rights, can't claim ownership of precious metals or hydrocarbons under their land. The latter, such as coal and gas, have been vested in the Crown since the 1930s, when they were in effect nationalised.

Government confirms plan to let fracking firms drill under homes | Environment | The Guardian (http://www.theguardian.com/environment/2014/jun/04/plan-fracking-firms-drill-homes-queens-speech)

Zero Liability
15th January 2015, 21:00
Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

Yup, hardly shocking though in this country, I guess...