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[Makai]

http://www.usatoday.com/story/money...audi-prince-alwaleed-oil-100-barrel/21484911/

That works out to about $3.25 per gallon.

Saudi billionaire businessman Prince Alwaleed bin Talal told me we will not see $100-a-barrel oil again.

Saudi Arabia and all of the countries were caught off guard. No one anticipated it was going to happen. Anyone who says they anticipated this 50% drop (in price) is not saying the truth.

Although Saudi Arabia and OPEC countries did not engineer the reduction in the price of oil, there's a positive side effect, whereby at a certain price, we will see how many shale oil production companies run out of business.

But I'll tell you Saudi Arabia and Russia are in bed together here. And both are being hurt simultaneously. And there's no political conspiracy whatsoever against Russia. Because we are shooting ourselves in the foot if we do that.

I haven't seen much support for the idea that Saudis are dumping to kill off competitors, and he's right to dismiss it as a conspiracy theory.

 

[whatever77]

* It's not up to Saudi to decide

* Saudi's mega wells probably will have too much water in them to stay productive. Saudi is not publishing the numbers anymore. So it's possible the production will drop within a couple decades

edit, I forgot to mention China has planned major decrease in domestic oil production next year. They want to use up the cheap oil first.

 

[Makai]

* It's not up to Saudi to decide

* Saudi's mega wells probably will have too much water in them to stay productive. Saudi is not publishing the numbers anymore. So it's possible the production will drop within a couple decades

Good chance demand will drop during the same period.

 

[faridmon]

* It's not up to Saudi to decide

* Saudi's mega wells probably will have too much water in them to stay productive. Saudi is not publishing the numbers anymore. So it's possible the production will drop within a couple decades

edit, I forgot to mention China has planned major decrease in domestic oil production next year. They want to use up the cheap oil first.

No its not and he is not doing that exactly is he? maybe you should read properly

Anyway, I think Saudis Economy and their wealth is gonna dry up since they haven't invested alot in other things. Qatar and UAE have been smarter and started to diversify. Its interesting to see how it affects the social standings over there.

 

[Orbis Tabula]

Is that a threat?

 

[jamesinclair]

* It's not up to Saudi to decide

* Saudi's mega wells probably will have too much water in them to stay productive. Saudi is not publishing the numbers anymore. So it's possible the production will drop within a couple decades

edit, I forgot to mention China has planned major decrease in domestic oil production next year. They want to use up the cheap oil first.

The US.and the drill baby drill stuff was idiotic.

Buy cheap from abroad now, sell your own product expensive later.

 

[Einhander]

Russia on suicide watch. =P

 

[Deleted member 231381]

Is that a threat?

...no?

 

[nilbog21]

I was really enjoying watching all the people who bought unnecessarily big gas guzzling tanks suffer though

 

[The Albatross]

That'd be nice.

I was really enjoying watching all the people who bought unnecessarily big gas guzzling tanks suffer though

Yeah, thank god nobody else other than them suffered. Like people who eat food.

 

[Scrooged]

...no?

The low price of oil is really hurting the US fracking business. Also, Russia.

So it can be seen as a threat in a way.

But this pretty much confirms that the US is going to raise gasoline taxes.

 

[whatever77]

The US.and the drill baby drill stuff was idiotic.

Buy cheap from abroad now, sell your own product expensive later.

Maybe the huge ass SUV will come back? Who owns the HUMMMMER brand now?

 

[Einhander]

I'll never buy an SUV. Cheap gas + my sedan engine that burns less gas is perfect.

The idea of owning a pickup truck is attractive, though. But I don't haul things around.

 

[DOWN]

America can't afford it's oil selling for that cheap. The jobs and new facilities cost too much here to handle the low barrel prices.

 

[Loofy]

Dammit 70 cent canadian dollar here we come.

 

[RustyNails]

When Al Waleed talks, the entire world listens. The guy basically controls the world oil. He also recently divorced Princess Ameerah.

Now's your chance gaf.

 

[Dennis]

When Al Waleed talks, the entire world listens. The guy basically controls the world oil. He also recently divorced Princess Ameerah.

Now's your chance gaf.

The shades on the guy to the right looks they are photoshopped in.

 

[NYCmetsfan]

That's actually a really good interview all around guy seems smart as hell.

 

[NYCmetsfan]

When Al Waleed talks, the entire world listens. The guy basically controls the world oil. He also recently divorced Princess Ameerah.

Now's your chance gaf.

LOL I love this guy

Al-Waleed owns the 54th largest private yacht in the world, the 85.9-meter (282 ft) yacht Kingdom 5KR, originally built as the Nabila for Saudi arms dealer Adnan Khashoggi in 1979. In 1983, whilst in Khashoggi's ownership, the yacht posed as the Flying Saucer, the yacht of James Bond villain Largo in the film Never Say Never Again. It was later sold to American business magnate and investor Donald Trump, who renamed her Trump Princess. Al-Waleed bought back the yacht after Trump's second bankruptcy.[44]

 

[RustyNails]

That's actually a really good interview all around guy seems smart as hell.

There's talk that he pushes the kingdom to the left, and even floated the idea of him being the first Prime Minister in the kingdom.

 

[Lactose_Intolerant]

The shades on the guy to the right looks they are photoshopped in.

deal with it

 

[Paskil]

The shades on the guy to the right looks they are photoshopped in.

Deal with it.

Edit: Whoops, should have refreshed before posting. Heh.

 

[bomb]

That's actually a really good interview all around guy seems smart as hell.

The guy is an expert on oil. Lives it, breathes it.

 

[Naked Snake]

The shades on the guy to the right looks they are photoshopped in.

deal with it

edit: of course I'm too slow

 

[whatever77]

The shades on the guy to the right looks they are photoshopped in.