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

I'm glad our more rightish friends are beginning to notice that FAUX and Newscorp are manipulating their "news" to serve their ownership.

 

nope, just a conventional 15-yr loan. Almost went through a credit union until Citi offered this. Put the typical 20% down.

 

you never responded, so I did some fact finding and your numbers are far off.

There are a few existing drill sites that do operate in this break even area, but the majority are significantly higher. And that's on existing drills. New drills are easier to calculate breakeven around $85/bl

 

http://www.oilandgaspeople.com/news/1363/opec-output-will-not-be-cut-even-if-price-hits-20/

International Monetary Fund (IMF) economists have speculated that the low oil price could boost the global economy by up to 0.7% in 2015.

"Overall, we see this as a shot in the arm for the global economy," said Olivier Blanchard, the IMF's chief economist.

Similarly, Opec producers believe the oil price could return to about $70 or $80 by the end of 2015 as global economic recovery boosts demand.

 

so your saying directing income away from a few high income companies and spreading over more middle income companies is good for the economy?

 

Not when it's my company!

 

If they say it in public that's means it's probably a lie but:
SAUDI OIL MINISTER: I Don't Care If Prices Crash To $20 — We're Not Budging
http://www.businessinsider.com/r-sa...cut-output-however-far-oil-falls-mees-2014-12

Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister Naimi as saying Saudi Arabia is prepared to increase output and gain market share by meeting the demands of any new customers.

"Given the lead time in permit approval and rig construction ahead of oil production, a sizeable negative U.S. supply response given the price drop is unlikely to take place until late 2015, which places further downward pressure on oil prices in the first six months of next year," National Australia Bank said in a note.

 

Careful there Mr Socialist we don't take kindly to your kind in these parts!

 

I filled my tank with $30! Merry Christmas!

 

I don't understand your point.

The mega/large oil companies the ones that can easily make it thru this oil price crash. Various middle and smaller oil companies will struggle.

 

that a wider distribution of income produces a more robust economy (be it industries or people)

 

Shell? BP?

Besides, higher oil prices spread the wealth around more than do lower oil prices. Since the decline in oil prices in the mid-1980s there was a 20 year period of large distancing between the rich and poor. The gap essentially stopped growing with the peak in oil prices.

 

what? what metric are you using to say the wealth income gap has stopped?

and you are saying this stopped in sept??

 

Same here!

 

It's high profit but moderate to low profit margin, partly because they're employing and paying tens of thousands of workers.

 

Like Cheniere and Exxon?

 

I have a feeling a lot more companies will anounce layoffs after New Years when people come back from the holidays.

 

I'd rather have high gas prices and a job to drive to than a full tank of gas and no income.