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Edited by SKEP
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As the article states, the drop is due to over-building (housing bubble) more than due to instability or the oil price. Same as in Kuala Lumpur.

 

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(edited)

7 hours ago, SKEP said:

SKEPtical - Nowhere in the article does it mention the price of oil, it refers to the global financial crisis. You are polluting this forum with false information, flippant titles and a "cocktail" of information/data as you see fit to post based on your mood, its a an open forum but would just like to ask you to base your "reporting" on fact and not some modern day crusade to plunder King Solomon's Temple.

Could you do that for us?

If you had been to Dubai you would understand....

Edited by James Regan
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(edited)

On 8/26/2019 at 12:53 AM, Douglas Buckland said:

As the article states, the drop is due to over-building (housing bubble) more than due to instability or the oil price. Same as in Kuala Lumpur.

 

Maybe they are right. 

I differ. I doubt over building.  

Brent is under $60. It will be very volatile over the next year.  But in my opinion heading to a sustainable $50 Brent.  Middle East is a conflict just waiting to happen. Mideast is toast when oil avg goes to $50 bbl.

I think all the oil states will be under pressure with  decreased stability.

The government's had their chance but preferred to spend there money to support terrorist, fight wars, kill disidents, build nukes, continue century old Shiite/Sunni fight and buy extravagant luxury items.

Housing has dropped the most in 10 years. A great deal in the last 6 months

I wouldn't invest any of my money in the region.  Most of the housing in Dubai was purchased by expatriates. I think they are rethinking the security situation and leaving town.  

UAE just abandoned Saudi Arabia regard Yemen conflict.  They're out. Now getting cozy with Iran.

Look at MBS's Saudi Vision 2030.  It's DOA. Am I wrong ?

Its like oil  .  .  .  .  more sellers than buyers. UAE tells you it's overbuilt I think it has nothing to do with being overbuilt. What do u think they are going to say.

Just like OPEC says pricing problem is  all demand. Not a supply problem. Of course not. What do you expect them to say.

Let's compare notes in 18 months.

Edited by SKEP
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5 minutes ago, SKEP said:

Maybe they are right. 

I differ. I doubt over building.  

Brent is under $60. It will be very volatile over the next year.  But in my opinion heading to a sustainable $50 Brent.  Middle East is a conflict just waiting to happen. Mideast is toast when oil avg goes to $50 bbl.

I think all the oil states will be under pressure with  decreased stability.

The government's had their chance but preferred to spend there money to support terrorist, fight wars, kill disidents  and buy extravagant luxury items.

Housing has dropped the most in 10 years. A great deal in the last 6 months

I wouldn't invest any of my money in the region.  Most of the housing in Dubai was purchased by expatriates. I think they are rethinking the security situation leaving town.  

UAE just abandoned Saudi Arabia regard Yemen.  They're out. 

Its like oil  .  .  .  .  more sellers than buyers. UAE tells you it's overbuilt I think it has nothing to do with being overbuilt. What do u think they are going to say.

Just like OPEC says pricing problem is  all demand. Not a supply problem. Of course not.

Let's compare notes in 18 months.

SKEPtical - Nowhere in the article does it mention the price of oil, it refers to the global financial crisis. You are polluting this forum with false information, flippant titles and a "cocktail" of information/data as you see fit to post based on your mood, its a an open forum but would just like to ask you to base your "reporting" on fact and not some modern day crusade to plunder King Solomon's Temple.

Could you do that for us?

If you had been to Dubai you would understand....

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(edited)

On 8/26/2019 at 3:03 AM, James Regan said:

SKEPtical - Nowhere in the article does it mention the price of oil, it refers to the global financial crisis. You are polluting this forum with false information, flippant titles and a "cocktail" of information/data as you see fit to post based on your mood, its a an open forum but would just like to ask you to base your "reporting" on fact and not some modern day crusade to plunder King Solomon's Temple.

Could you do that for us?

If you had been to Dubai you would understand....

I'm in a good "mood" now. Thanks for asking.

The forum is to post ones opinion and debate positions. Please put me on ignore if you can't handle the debate.

What's this, " .  .  .  modern day crusade to plunder King Solomon's Temple"  ?  or "flippant titles" 

Huh ?

Edited by SKEP
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17 minutes ago, SKEP said:

The forum is to post ones opinion and debate positions. Please put me on ignore if you can't handle the debate.

SKEP- You won't have noticed but a lot of good people have recently left this forum over the last three months, you will have been too busy spouting off about the USA to notice, its really tedious and has infact turned me into a troll, to ignore you would not be the answer as there would be no threads visible on my community page.

Unfortunately this forum has been trolled by the Chinese and Shale Groupies who have just jumped on the tour bus.

(Currently strapping on suicide vest)

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3 hours ago, SKEP said:

Maybe they are right. 

I differ. I doubt over building.  

Brent is under $60. It will be very volatile over the next year.  But in my opinion heading to a sustainable $50 Brent.  Middle East is a conflict just waiting to happen. Mideast is toast when oil avg goes to $50 bbl.

I think all the oil states will be under pressure with  decreased stability.

The government's had their chance but preferred to spend there money to support terrorist, fight wars, kill disidents  and buy extravagant luxury items.

Housing has dropped the most in 10 years. A great deal in the last 6 months

I wouldn't invest any of my money in the region.  Most of the housing in Dubai was purchased by expatriates. I think they are rethinking the security situation leaving town.  

UAE just abandoned Saudi Arabia regard Yemen.  They're out. 

Its like oil  .  .  .  .  more sellers than buyers. UAE tells you it's overbuilt I think it has nothing to do with being overbuilt. What do u think they are going to say.

Just like OPEC says pricing problem is  all demand. Not a supply problem. Of course not.

Let's compare notes in 18 months.

So, let's get this straight. YOU posted an article that you don't agree with....so that you can disagree with it on this forum.

I would have to agree with James that you are doing a fine job of destroying the credibility of this forum.

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(edited)

On 8/26/2019 at 3:03 AM, James Regan said:

 you to base your "reporting" on fact and not some modern day crusade to plunder King Solomon's Temple.

Could you do that for us?

If you had been to Dubai you would understand....

Jamie you own a home in Dubai ?

Edited by SKEP

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(edited)

On 8/26/2019 at 3:38 AM, James Regan said:

SKEP- You won't have noticed but a lot of good people have recently left this forum over the last three 

Readership has increased.

Oil Price has increased their advertising rate.

If some of the disenchanted might have left they probably saw the light, they realize the oil industry is in a transition. 

Just my opinion. 

Edited by SKEP
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3 minutes ago, SKEP said:

Readership has increased.

If some of the disenchanted might have left they probably saw the light, they realize the oil industry is in a transition. 

Just my opinion. 

No SKEP, the ones who have left are those who valued educated discourse on the relevant issues which were formerly posted on this site prior to the recent members who go off topic to incite others and who are so arrogant as to assume that their opinion is more valid and inherently correct.

That is NOT an uninformed opinion if you look at who has left and, historically, their contribution.

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(edited)

On 8/26/2019 at 6:18 AM, Douglas Buckland said:

So, let's get this straight. YOU posted an article that you don't agree with....so that you can disagree with it on this forum.

I would have to agree with James that you are doing a fine job of destroying the credibility of this forum.

I agree Dubai housing prices are at lowest point in last 10 years.

I just have some reservations as to the articles stated reason for the decline.

If I am an expat and I read about limpet mines on tankers, drones downed, Yemen bombings increase, Saudi pipelines attacked and U.S. choking off Iran's oil exports. . .   and then I look out my homes front door at the beautiful Gulf of Oman and see a new U.S. aircraft carrier, new warships from Britain and France escorting tankers and I hear China is considering sending military warships to join in . . . . I might evaluate the security implications.

Everyone has an agenda.

We all heard Saudi Oil Minister Khalid al-Falih tell the world diring the first half of this year that inventories were down and the market is tight.   Orbital Insights satellite survey showed the opposite.

Can't take anything from the region at face value.  Need to do your own due diligence. 

 

Edited by SKEP

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9 hours ago, SKEP said:

Maybe they are right. 

I differ. I doubt over building.  

Brent is under $60. It will be very volatile over the next year.  But in my opinion heading to a sustainable $50 Brent.  Middle East is a conflict just waiting to happen. Mideast is toast when oil avg goes to $50 bbl.

I think all the oil states will be under pressure with  decreased stability.

The government's had their chance but preferred to spend there money to support terrorist, fight wars, kill disidents  and buy extravagant luxury items.

Housing has dropped the most in 10 years. A great deal in the last 6 months

I wouldn't invest any of my money in the region.  Most of the housing in Dubai was purchased by expatriates. I think they are rethinking the security situation and leaving town.  

UAE just abandoned Saudi Arabia regard Yemen conflict.  They're out. 

Look at MBS's Vision 2030.  It's DOA. Am I wrong ?

Its like oil  .  .  .  .  more sellers than buyers. UAE tells you it's overbuilt I think it has nothing to do with being overbuilt. What do u think they are going to say.

Just like OPEC says pricing problem is  all demand. Not a supply problem. Of course not. What do you expect them to say.

Let's compare notes in 18 months.

The government's had their chance but preferred to spend there money to support terrorist, fight wars, kill disidents  and buy extravagant luxury items.

Monkey see monkey do!

 

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Dubai is a financial center that oil money flows thru, but doesn't actually have oil itself. A lot of Russian, Indian, and Iranian currency as well. A great place convert whatever to dollars.

It's not just Dubai with lower values. Khobar, in the Eastern Province next to Aramco. Property values are really hurting, largely through deliberate efforts to lower the expat population, which was captive to whatever rent someone could charge. Typically not oil and gas people, but folks who live off people who are there because of oil and gas, the indirect side of things. Expats repatriate a lot of money, but they also spend silly amounts where they live. Just look at the malls in Dubai, OMG.

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16 hours ago, SKEP said:

SMART MONEY IS LEAVING THE MIDEAST. 

The article blames it on over building. I say lower oil prices = increased instability. Mideast is a war waiting to happen.

Always has been. Always will.

Should have built economy while the $100 bbl oil was there to fund it. UAE did the right thing, but unfortunately the neighborhood is in for some tough times in my opinion. 

Will be interesting to see how the Mideast Oil Countries handle $50 Brent.  We will know in a couple of years.

https://www.mansionglobal.com/articles/dubai-villa-prices-fall-to-lowest-point-in-a-decade-205042?mod=cx_picks&cx_navSource=cx_picks&cx_tag=mgrt&cx_artPos=7#cxrecs_s

Perhaps people have haven finally woken up to the fact that Dubai is a heavily polluted, autocratically run, blast furnace? 

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4 hours ago, NickW said:

Perhaps people have haven finally woken up to the fact that Dubai is a heavily polluted, autocratically run, blast furnace? 

Dubai/UAE is second in the world when it comes to Surveillance of their population. Second only to China.

UAE crime rate is zero.  Quite an accomplishment  . . . .  but comes at a high price to ones freedoms and liberties (especially if you are an expat)

Example: if you fall behind and don't pay your car loan you go to jail.

I'm not complaining .  They can run their country as they see fit.  I won't go back. 

 

 

Edited by SKEP

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(edited)

5 hours ago, Douglas Buckland said:

No SKEP, the ones who have left are those who valued educated discourse on the relevant issues which were formerly posted on this site prior to the recent members who go off topic to incite others and who are so arrogant as to assume that their opinion is more valid and inherently correct.

That is NOT an uninformed opinion if you look at who has left and, historically, their contribution.

Demonize anybody that doesn't agree with you.  Call them names. Say they are a Trump lover without any basis for the claim.  

(For a historical perspective read Mein Kampf.  Hitler's Nazis used similar propaganda tactics)

If you want a mutual admiration blog just put me on ignore .  Simple.

If you want to "think" then engage in the debate.

THE OIL INDUSTRY IS TRANSITIONING BEFORE OUR EYES.  ADAPT AND PROSPER.  NEW WINNERS AND NEW LOSERS.

THE GLORY DAYS ARE GONE

Bruce Springsteen "Glory Days"

https://m.youtube.com/watch?v=6vQpW9XRiyM

 

Edited by SKEP

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(edited)

9 hours ago, Douglas Buckland said:

I would have to agree with James that you are doing a fine job of destroying the credibility of this forum.

I respectfully disagree.  I think I have done a fine job of representing a realistic assessment of the changes taking place of the oil industry.  Of course that's my personal opinion.

Some People, Some Companies and Some Countries don't like that. 

So let's agree to disagree. 

Edited by SKEP

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1 hour ago, SKEP said:

Dubai/UAE is second in the world when it comes to Survelence of their population. Second only to China.

UAE crime rate is zero.  Quite an accomplishment  . . . .  but come at a high price to their ones freedoms and liberties. 

Example: if you fall behind and don't pay your car loan you go to jail.

I'm not complaining .  They can run their country as they see fit.  

 

 

Because Emirati's are virtually immune from prosecution*

Rape and beat your Filipino maid - no problem. At worst UAE will make them pay her medical bill and air fare home. No prosecution. 

Drive your car dangerously into an Expats - no worries as bent courts will simply conclude that had the expat not been there it wouldn't have happened so its the expats fault. 

*I know an Emirati policeman who basically told me this. As soon as he has enough money his wife (Australian - Iranian) will go to live in Oz. He hate the system as well due to its inequality. 

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9 hours ago, SKEP said:

Demonize anybody that doesn't agree with you.  Call them names. Say they are a Trump lover without any basis for the claim.  

(For a historical perspective read Mein Kampf.  Hitler's Nazis used similar propaganda tactics)

If you want a mutual admiration blog just put me on ignore .  Simple.

If you want to "think" then engage in the debate.

THE OIL INDUSTRY IS TRANSITIONING BEFORE OUR EYES.  ADAPT AND PROSPER.  NEW WINNERS AND NEW LOSERS.

THE GLORY DAYS ARE GONE

Bruce Springsteen "Glory Days"

https://m.youtube.com/watch?v=6vQpW9XRiyM

 

You have just proven my point beautifully. Thanks for the assist.

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(edited)

10 hours ago, Douglas Buckland said:

You have just proven my point beautifully. Thanks for the assist.

You are welcome.  Anything I can do to help let me know. .

Edited by SKEP

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(edited)

On 8/26/2019 at 3:38 AM, James Regan said:

SKEP- You won't have noticed but a lot of good people have recently left this forum over the last three months, you will have been too busy spouting off about the USA to notice, its really tedious and has infact turned me into a troll, to ignore you would not be the answer as there would be no threads visible on my community page.

Unfortunately this forum has been trolled by the Chinese and Shale Groupies who have just jumped on the tour bus.

(Currently strapping on suicide vest)

James your posts are getting weird. This is just a blog.  Relax.  The website is called "Oil Price".  It is for people to post their opinion about things related to energy and oil.  Your comment about "suicide vests", "plunder King Solomon's tomb"and " "forum trolled by Chinese" are scary. It's just a blog. chill dude.

 

 

Edited by SKEP

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23 minutes ago, SKEP said:

James your posts are getting weird. This is just a blog.  Relax.  The website is called "Oil Price".  It is for people to post their opinion about things related to energy and oil.  Your comment about "suicide vests", "plunder King Solomon's tomb"and " "Chinese groupies" are scary. It's just a blog. chill dude.

 

 

Attaching a Bruce Springsteen video is not 'scary' as well?

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13 minutes ago, Douglas Buckland said:

Attaching a Bruce Springsteen video is not 'scary' as well?

" Glory Days" bud

You prefer another music genre ?

Edited by SKEP

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You missed the point.

You scold James for his choice of comments then post a music video.

Same can, different wrapper.

That said, the genre was perfect!

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