Trump Renews Attack On OPEC Ahead Of Group's Production Meeting

[AMR + 6]

Trump very much aware that common man impacted in America with high gas prices at pump because of sanction on Iran and benefiting only Saudi’s, he will make sure it would not be the case prior to further going hard on Iran. At this moment Iran pumping more Oil and feel like sanction on America.. 

[Diamondbit88 + 2]

Great place with news and info to keep ourself abreast in the oil industry. Thank you for creating this forum.

[chan k k 0]

When is shale oil start pumping in USA ? will it affect oil price near term ? how much ?

 

[CMOP + 227]

15 hours ago, Diamondbit88 said:

Great place with news and info to keep ourself abreast in the oil industry. Thank you for creating this forum.

@Diamondbit88 great to have you onboard!

[GeoSciGuy + 74]

17 hours ago, AMR said:

Trump very much aware that common man impacted in America with high gas prices at pump because of sanction on Iran and benefiting only Saudi’s, he will make sure it would not be the case prior to further going hard on Iran. At this moment Iran pumping more Oil and feel like sanction on America.. 

So higher gas prices are 100% Trump's fault and OPEC had nothing to do with it?  

Prices are still lower today than they were from 2014 and prior, and the economy is in much better shape.  

You should be happy Trump is shinning the spotlight on OPEC instead of all the Democrat Governors that raised your gas tax.

[Independence1776 + 1]

As early as 2021, but no later than 2025.

Key questions:

1)      Are EV’s better than ICE vehicles?  I answer yes, they are safer, faster, more comfortable,  Tesla has quickly gained over 30% market share in luxury sedans, no more proof than this is necessary.    

2)      How fast will competition ramp up for EV’s across all vehicle segments, pickups, SUV’s, trucks?  Auto manufacturers have set themselves to invest about 100 billion over the next 5 years bringing EV's to market.  Tesla's success of controlling over 30% of market share in luxury sedans have driven them to realize the public see's EV's and better than ICE vehicles.  In the next 5 years consumers will have plenty of choices and therefore EV's are set to take market share in all segments.

3)      How fast will prices drop?  We are right on the cusp of the cost curve to start rapidly declining (5 to 10% per year) due to volume driving

economies of scale, increased competition and increased investment from auto manufacturers, and the fact EV's are much simplier than ICE vehicles, 10,000 parts compared to 30,000 parts of cars that requires engines, complex drive trains, coolant and exhaust systems, etc.

 

If you would like to see detailed analysis on why this transition is likely to happen quickly to EV's and Energy to renewables, see Stanford Prof. Tony Seba's you tube videos on the topic.  He's dead on in my opinion.  By 2030, the world will look a whole lot different than it does today.

 

[jose chalhoub + 388]

Is it OPEC too important now? I mean with the hysteria and wide development of EV's, TESLA, and the positive outlook for these energies, and also with the majority of global oil production held by non OPEC's, whats the hype with OPEC still and the United States giving it still too much importance? In my view, OPEC is just surviving

[Bhimsen Pachawry + 72]

16 hours ago, jose chalhoub said:

Is it OPEC too important now? I mean with the hysteria and wide development of EV's, TESLA, and the positive outlook for these energies, and also with the majority of global oil production held by non OPEC's, whats the hype with OPEC still and the United States giving it still too much importance? In my view, OPEC is just surviving

How will you make the following with EVs-

1) paints

2) fertilizer and pesticides

3) synthetic clothes like nylon, rexine

4) sulphur and organic solvent for lead acid and lithium battery. Sulphur is also needed for common match-sticks

5) PVC, plastics, LED, LCD for electric cables and electronics like phone, computer etc

6)ink and dyes for pens and clothes

7)detergent, preservatives, packaging materials, deodorant, make up material etc

8)medicine and related organic compounds

9) Many other petrochemicals used in other places like bionics, rockets, shoe polish etc

 

In addition, the EVs require massive quantity of Lithium which is scarce. The refining of the materials to make batteries require lot of energy. The recharging of EVs also require heavy energy supply from coal/gas electricity. The charging time if EVs is too long for it to be suitable for commercial vehicles. A lot of carry space and weight will have to go into keeping the batteries itself which lowers volume for other items and also increases the weight of the vehicle

[Dr. Abelatif Hamza + 4]

In fact i believe OPEC is one of the already very expired international org.

The more it stays to more toxics result to its members in particularey..

We need to re-organize: how to manage world crude oil in better means and values and leaders , in order every international party/ i.e. country , would become more secured longely saver plus in the whole each party brcome trusting the others , as the crude oil is in reality meaning the :fuel of the world system"  similar to the water in our body.. we need better org than OPEC and its immature leadership!

OPEC origionally established to manage oil prices, but now there so many new complicated issues  emerged while OPEC never could be qualified for them.. its just wasting salaries on huge expensive OPEC staff and expenses, such money could be better used for projects employing the suffering youghts ...