Trump vs. MbS

[Tom Kirkman + 8,860]

25 minutes ago, Epic said:

I'm sure someone around here has seen pictures of Jamal holding his RGP back when he fought for the mujahideen.

 

[Osama + 248]

On ‎10‎/‎20‎/‎2018 at 3:37 AM, Gerry Maddoux said:

I've said it before and I'll say it again: Crude oil at these prices is ridiculously low!

I think the opposite...why?

May be ...I am a bear..

 

However, as many memebers here have said, there is nothing like "the right price" of crude...it may go up and down..depending on the whims of the traders. I didn't use to think like this but now I have experienced the same.

[Osama + 248]

What Jamal Khashoggi’s death could mean for oil markets---https://www.ft.com/content/424bc532-d399-11e8-a9f2-7574db66bcd5

 

@Tom Kirkman, @ATK, @Dan Warnick

[Osama + 248]

Saudi Arabia Has No Plans to Repeat 1973 Oil Crisis, Falih Says---https://www.bloomberg.com/news/articles/2018-10-22/saudi-arabia-has-no-plans-to-repeat-1973-oil-crisis-falih-says

• Kingdom may pump 11 million barrels a day soon: Falih to Tass
• World should handle Khashoggi political crisis with ‘wisdom'

@Top Oil Trader---So we can take the Kashoggi case out of the potential news that may cause another rally?

Edited October 22, 2018 by Osama
Had to mention someone

[Top Oil Trader + 469]

Osama good article.

Edited October 22, 2018 by Top Oil Trader

[Osama + 248]

17 minutes ago, Top Oil Trader said:

Osama good article.

Thank you..

Kashoggi's case...is/was indirectly related to oil prices as in the Trump's sanctions and KSA's reaction...but recently it seems they will.opt a much nuanced and wise way to solve this....in this context..?

[Top Oil Trader + 469]

Thanks Osama.

[Dan Warnick + 6,100]

1 hour ago, Osama said:

What Jamal Khashoggi’s death could mean for oil markets---https://www.ft.com/content/424bc532-d399-11e8-a9f2-7574db66bcd5

 

@Tom Kirkman, @ATK, @Dan Warnick

That link goes directly to the subscription page of FT.  No use.

[Dan Warnick + 6,100]

9 hours ago, Osama said:

What Jamal Khashoggi’s death could mean for oil markets---https://www.ft.com/content/424bc532-d399-11e8-a9f2-7574db66bcd5

 

@Tom Kirkman, @ATK, @Dan Warnick

Like I said, I didn't see the article.  But I did tell you guys that the Saudis are going to open the taps all the way and assure the world they can pump even more.  That's payback to Uncle Sam for bailing them out of another brilliant political dissent move.

EDIT: I should correct my statement.  The Saudis are not going to open the taps all the way; they are going to tell the markets they have opened the taps all the way.  What they are NOT going to do is leave the impression that the taps already are open all the way and there's no more left.  In other words, they are going to continue supplying the markets and leave no shortages.  Demand will be met, and there's more where that came from.

Edited October 22, 2018 by Dan Warnick

[Dan Warnick + 6,100]

1 hour ago, Osama said:

Saudi Arabia Has No Plans to Repeat 1973 Oil Crisis, Falih Says---https://www.bloomberg.com/news/articles/2018-10-22/saudi-arabia-has-no-plans-to-repeat-1973-oil-crisis-falih-says

• Kingdom may pump 11 million barrels a day soon: Falih to Tass
• World should handle Khashoggi political crisis with ‘wisdom'

@Top Oil Trader---So we can take the Kashoggi case out of the potential news that may cause another rally?

Like I said, what, a week ago?

[jaycee + 348]

22 minutes ago, Dan Warnick said:

That link goes directly to the subscription page of FT.  No use.

Trick with FT articles is copy the headline google it then open from there going straight to the FT with a link does not work

[Dan Warnick + 6,100]

11 minutes ago, jaycee said:

Trick with FT articles is copy the headline google it then open from there going straight to the FT with a link does not work

Brain fart.  Forgot.  Thanks for the reminder.

[George Pestik 0]

What is FT?

[Glenn Ellis + 57]

~ Knowing what I know about "intelligence agencies" (take your pick, {ABC }including the Mossad) Each will have their own version of what happened.

Most will miss the mark. Only the deceased and MBS know the real answer.

[Dan Warnick + 6,100]

18 minutes ago, George Pestik said:

What is FT?

Financial Times (what the link is supposed to go to)

[Osama + 248]

ALL: Apologies for I can see many wrre unable to access the Financial Times' link. I will, in future, try to post some relevant lines summarizing the whole article whenever posting anything from FT.

[Mehrdad Nematollahi + 4]

On 10/20/2018 at 2:07 AM, Gerry Maddoux said:

I've said it before and I'll say it again: Crude oil at these prices is ridiculously low! The problem is that the world has gotten hooked on cheap prices. The Saudis are lazy and haven't had to do much of anything to sell their oil. And then, like a monster truck, here came shale oil. When you look at the toll effected upon the planet in order to get oil out of the ground, not to mention refining it and using it, we are at unbelievably low prices. At the risk of being redundant, the proper amount of pressure and heat has to be exerted against organic material for over a million years to make a mere cup of oil. At 47 gallons a crude oil barrel, and 12 cups a gallon, if one were to compare Starbucks coffee to oil, a barrel of Starbucks would run you about $3800. Coffee beans, last I checked, are easy to grow annually and any fool can roast them and grind them. 

Every president has toadied up to the Saudis: the Bushes were the worst; Prince Bandar was almost a member of their family. They made scads of money from the Saudis, as did their pals. I can't prove it but I rather suspect the same is happening now. 

While it may seem that everybody in the oil business is getting rich these days, only about one in ten companies operating in shale oil are actually making a profit. I don't want to insult anyone, but if you haven't seen what is involved from start to finish in getting a shale oil well on line, go to the Permian, or the Bakken, or the D-J Basin, or SCOOP-STACK, or the Eagle Ford. You can watch land being scraped for the pad, the drilling rig brought in, the GPS direction of the lateral, then the fracking. By God, the fracking! 

In doing all this, we're taking billions of gallons of water from the life cycle and sequestering it away in non-recycle disposal wells. There are going to be hundreds of thousands of wells that soon have to be plugged, to the tune of $30,000 each. These things are parabolic. But wait, the Saudis don't have a free ride any longer either, for they're now having to pump billions of gallons of seawater into their wells--waterflooding if you will--in order to make them chug along at their advanced rate . . . these are for the most part old wells in decline. 

When you consider global warming, accentuated no doubt by the greenhouse emissions, the unknown of removing a huge amount of water from the life cycle, the NOX, etc., my gosh it gives me a pain in my behind when I hear about how we must keep the price of oil low. In full disclosure, I have lived all my life off the proceeds of oil and gas, and still do at the ripe old age of 74, so I have a vested interest in a higher price, but I have seen prices ratchet up, then plunge, up and down, and we--America!--still don't have an energy policy. In spite of having a guy in as Secretary of Energy from an oil-producing state--even though the department was one that he planned on eliminating when he became president, or so he said during the campaign--we still don't have an energy policy. For example, every refinery could be made to handle light sweet shale oil, and we could produce it. But it would take about a billion a refinery to get there. Why haven't we converted one at a time. A billion is peanuts in this kind of world. 

Anyway, I apologize, but this saved me a psychiatrist's fee. The price of oil is VERY LOW! Let the free market decide it, but for God's sake, I haven't heard anyone complaining about spending $300/month on Starbucks. 

 

[Mehrdad Nematollahi + 4]

Thanks Maddoux

Your  opinions are sound.

But other guys are sticking to politics and have expressed their aims and not ready to accept the real situation.

One guy relate  the relations of mohammad bin salman and Iran  and turkey to price of oil .

The thing is that oil has an integrated market  and Trump did not know that. He acts like an owner that order to the labors in a tower project.

He is not intelligent enough to understand how complicated and sensitive the oil market is!

Rex Tillerson could be a right guy for him  but he could not continue with him.

A new  think Tank should help trump .

Me and you must be in the think tank!!

👍👍👍

[Harvey Golembleski + 1]

Here in Alberta we need the go ahead for some new pipe lines  We in Canada need to get our oil across the ocean.

[Dan Warnick + 6,100]

1 minute ago, Harvey Golembleski said:

Here in Alberta we need the go ahead for some new pipe lines  We in Canada need to get our oil across the ocean.

You think?  Canada needs to get its head out of its ass when it comes to energy across the board.

[Osama + 248]

On 10/22/2018 at 4:52 PM, Dan Warnick said:

Like I said, what, a week ago?

Indeed, @Dan Warnick!! 

[Keven Tan + 85]

On 10/18/2018 at 12:51 PM, Keven Tan said:

Great, WTI is falling under $69 now. We shall see a $65ish at the end of this month if no more shits would happen. 

WTI downs significantly to $67.50! Awesome. There is a high chance to hit $65 before goes up. 

[Osama + 248]

9 minutes ago, Keven Tan said:

WTI downs significantly to $67.50! Awesome. There is a high chance to hit $65 before goes up. 

Yes...API and EIA's report will decide it. But $65 looks quite possible as @Top Oil Trader had mentioned as well. 

 

[Bilal Zaidi + 13]

On 10/20/2018 at 10:38 PM, Leko said:

I suspect that we need at least $75-$80 oil consistently to encourage oil companies to find and develop new reserves. We know that at $40 all new projects stopped immediately. We have not yet paid the price for that. In the U.K we are paying £1.45p per litre or £6.90 ish per gallon at the pump,around $9 per gallon. If I was in the U.S paying around $2.50 per gallon or $0.40 cents per litre I think I would keep qiuet.

Yes I agree if the price hang around $75 to $80 per barrel the companies will stick around, the same problem is faced by Pakistan which have 9 billion barrels estimated reserves by EIA and proven reserves of 400 million barrels but the companies are not coming here to take up exploration, however previously corrupt governments and their unwillingness contributed hugely. The oil refineries are also setup in the country restricted to 19 MTPA refining capacity since 2015. I see after christmas oil jumping more than $100 per barrel as the US implementing stringent sanctions on Iran, the 3 million bpd if thrown out of market the demand pressure will push the price in global market.

[Bilal Zaidi + 13]

20 hours ago, Mehrdad Nematollahi said:

Thanks Maddoux

Your  opinions are sound.

But other guys are sticking to politics and have expressed their aims and not ready to accept the real situation.

One guy relate  the relations of mohammad bin salman and Iran  and turkey to price of oil .

The thing is that oil has an integrated market  and Trump did not know that. He acts like an owner that order to the labors in a tower project.

He is not intelligent enough to understand how complicated and sensitive the oil market is!

Rex Tillerson could be a right guy for him  but he could not continue with him.

A new  think Tank should help trump .

Me and you must be in the think tank!!

👍👍👍

i am not sure if any think tank can help Trump administration most of his decisions seems abrupt without any thought process, the US sanctions will definitely hurt US economy coz the sanctions on Iran will impact 60% oil imports of US. No matter how strong is US economy it has to face the dent when 60% of oil needs met with imports. It will impact all economic factors.