Saudi Arabia to lower oil prices, the houston boom is over

Sarcasm much?

I've heard Bill Gates say as much. I'm convinced that if the entire unoccupied/unused portions of the US were covered in solar panels (which is a lot of land), you still wouldn't have enough energy to meet demand.

 

Ever heard of Moore's law? Go right ahead and be dense.

 

Apples to oranges when you're comparing things to crude oil. At some point, demand will be larger than supply. That's just inevitable.

Technology is big in the industry.. No doubt. I'm now working for a company that specializes in R&D so I'm excited to learn things from a different angle.

 

Moore's law has to do with semiconductors. It really isn't a law its just an interesting observation.Making computers faster is a byproduct of being able to do more work with the same area which running cooler. In this case we are talking about energy storage.

https://en.wikipedia.org/wiki/Energy_density

Gasoline engines aren't all that efficient, but gasoline has more energy than pretty much any other material other than nuclear sources.

 

I agree. Of course it will be over $100 at some point but it will definitely be a while. I've been hearing the late 2017/2018 rebound as well and I tend to think that seems about right but boy, it gets a little scary when you hear the rhetoric from the Saudis. It's definitely an interesting case study though. In 8 year we may be back to $100+ oil and then they pull the exact same stunt.

 

Glad you found work again bud. Clutchfans prayers worked!

 

Thanks man! I feel very thankful to get employment at an established firm in a tight market. Thanks to everyone that showed me support here and in my rep!

 

Isn't that the truth! Congrats! You must have had something they liked

 

Yes, I have heard of Moore's law and my knowledge is very dense - there's just so much of it!

 

Congrats man! I feel anther major reduction hitting us son. Hoping to last through it

 

Somehow I think this is a ploy to bankrupt the small shale producers so big oil can swoop in an get the resources for pennies on the dollar. The majority of shale producers are smaller and very leveraged. Either that or the Saudis think the end is near for oil and they are trying to get as much as possible before their oil becomes near worthless.

 

Spoiler

 

Spoiler

Moore holds the ABA records for the most personal fouls in a season (382 in 1969-70), the most personal fouls in an ABA career (1,348), and the most disqualifications in an ABA career.

Spoiler

 

That and f-ck over the Russians as much as possible.

 

Pretty cool stuff... The company I work for staffs a few operations where pressurized gas is stored in salt domes.

This is nothing new though, they've done this for decades.

 

1. "Big Oil" companies don't control enough of the world oil to affect price, the state run companies own most of the resources, not public corporations.

2. It's the Saudis that want to knock out the shale producers, but it has been more difficult than expected. Many of the shale producers are actually pretty quick on their feet and efficient.

3. If you study the science, we are stuck with oil for the next 50 to 100 years at least as a primary energy producer.

 

but we all agree that the price of oil is artificial correct? manipulated and speculated but not due to data. more specifically, demand hasn't fallen the same %'s as the price has in the last two years correct?

 

Demand has gone up. Supply has gone up even more. Its a trillion dollar industry. Only a country like saudi has the power to just change the price.

 

so i'm correct. it's not economics, it's manipulation. now, what's the motive?

 

A few posts above yours.

Pretty simple.