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When the USSR collapsed a barrel cost $6, given modern technology we can assume the same price...
from the point of view of optimisation, this is retarded.
ZS: no wonder the world economy is in a tailspin
The Saudis are supposed to have a monopoly on selling only to the US, and the US is winging it for it.
So the US has only one supplier, the Saudis? and they want to dump their patron?
Again, it is not clear what the gimmick is.
Or has the US lost leverage over the Saudis?
ZS: in general, it is not clear who is dumping.
The best way is to sell Saudi oil in Europe, not shale oil.
At least based on the cost of supply.
Although Europe is where they are told to buy it, there is no other way to explain this idiocy.
Or Europe does not want to take oil from the Saudis based on European values?
The Saudis and the US are strategic partners. This is already geopolitics. Besides, the US market is much bigger than the European one and there is more competition in the European market since the oil pipeline was launched under Khrushchev. Since the 50's most European refineries have been built for heavy Soviet oil.
A strategic partner who wanted to derail the shale revolution in the US? What kind of partner is he then?
so who is dumping?
A strategic partner who wanted to derail the US oil shale revolution? What kind of partner is he then?
so who is dumping?
The US has always and at all times needed a low oil price because the US is the largest oil consumer in the world. The shale industry employs a tiny fraction of american workers
are the production volumes significant?
So, the US has a shortage of oil, so much so that they need imports and the price is falling (when has the price ever fallen in a shortage???)
they've lifted the export embargo because the price is too low on their market
"We need cheap oil, but we don't want to sell at such prices ))
why should they open exports and save "shale oil" if there is little there?
THIS DOES NOT MAKE SENSE!!!
always and at all times, the US has needed a low oil price, because the US is the largest oil consumer in the world. The shale industry employs a tiny proportion of American workers
are the production volumes significant?
So, the US has a shortage of oil, so much so that they need imports and the price is falling (when has the price ever fallen in a shortage???)
they've lifted the export embargo because the price is too low on their market
"We need cheap oil, but we don't want to sell at such prices ))
why should they open exports and save "shale oil" if there is little there?
THIS DOES NOT MAKE SENSE!!!
Oil shale companies are mostly small companies. As one expert used to say, three lawyers chipped in and opened a well. They are out of the market now.