« previous next »
Pages: [1]   Go Down

Author Topic: Remember that oil war that was supposed to sink America?  (Read 953 times)

0 Members and 1 Guest are viewing this topic.

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 64006
  • Alea iacta est! Libertatem aut mori!
Remember that oil war that was supposed to sink America?
« on: August 11, 2015, 08:46:08 AM »
It's been spanking the oil kingdoms harder...and it is especially beating the Russian Oligarchy hard!



http://www.bloomberg.com/news/articles/2015-08-10/russian-economy-shrinks-4-6-as-oil-slump-risks-deeper-recession

Yeah, that's a fricken shame.

Maybe some more territorial aggression is the answer?  Yeah, stealing sh*t is good for GDP! 

Because there isn't enough hookers and caviar to make up for the massive drop in oil profits.

Oh, and don't worry about sinking America, Dear Leader Obama, the Progs, the feckless Pubbies and cronies and drones galore are doing a good enough job on that score, so...have a nice day!
Logged
We are now where The Founders were when they faced despotism.

Online Pandora

  • Administrator
  • Conservative Superhero
  • *****
  • Posts: 19529
  • I iz also makin a list. U on it pal.
Re: Remember that oil war that was supposed to sink America?
« Reply #1 on: August 11, 2015, 08:57:25 AM »
North Dakota's boom has cratered because the friggin totalitarians in the regime will not repeal the law that makes it illegal to export oil.  There's nowhere left to store it, so further pumping is futile.

I hate these people.
Logged
"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

"Let us assume for the moment everything you say about me is true. That just makes your problem bigger, doesn't it?"

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 64006
  • Alea iacta est! Libertatem aut mori!
Re: Remember that oil war that was supposed to sink America?
« Reply #2 on: August 11, 2015, 09:05:35 AM »
Yup, and when prices drop this much it is smarter to cap and wait, but that only works in the short run if you have other sectors in the economy that can pick up the slack during the wait (provided your company stashed cash and didn't over expand during the good times)...and Obamunism has been at war with just about every legitimate and necessary enterprise...all except crony-run eco-scammers like Solyndra that is.
Logged
We are now where The Founders were when they faced despotism.

Offline IronDioPriest

  • Administrator
  • Conservative Superhero
  • *****
  • Posts: 10829
  • I refuse to accept my civil servants as my rulers
Re: Remember that oil war that was supposed to sink America?
« Reply #3 on: August 11, 2015, 09:32:00 AM »
I read somewhere a few days ago that even with the slowdown of US production (the article I read said the slowdown was the result of the price of crude dropping below a sensible profit margin for frakking), the presence of this (relatively) new source on the world market and the infrastructure to extract it will continue to threaten OPEC going forward.
Logged
"A strict observance of the written laws is doubtless one of the high duties of a good citizen, but it is not the highest. The laws of necessity, of self-preservation, of saving our country when in danger, are of higher obligation. To lose our country by a scrupulous adherence to written law, would be to lose the law itself, with life, liberty, property and all those who are enjoying them with us; thus absurdly sacrificing the end to the means."

- Thomas Jefferson

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 64006
  • Alea iacta est! Libertatem aut mori!
Re: Remember that oil war that was supposed to sink America?
« Reply #4 on: August 11, 2015, 09:39:39 AM »
Yes, I believe that to be true.  And I think because the geology and nature of the available reserves of North America and the OPEC (mostly Gulf nations) is so different I do not believe they can use this technology, so once those kingdoms run dry...they're just an empty sandbox.
Logged
We are now where The Founders were when they faced despotism.

Offline Glock32

  • Conservative Superhero
  • *****
  • Posts: 8747
  • Get some!
Re: Remember that oil war that was supposed to sink America?
« Reply #5 on: August 11, 2015, 10:01:46 AM »
The Arab oil kingdoms have proven how visionless they are.  They had decades of oil wealth pouring into their countries, which they should have used to fund diversification of their economies.  But I guess they thought it was easier to live in the lap of luxury and buy off their malcontent population with Islamic fundamentalism.

Should be real interesting to see what happens to those Arab princes when their radicalized populations no longer have hush money from oil revenues.
Logged
"The Fourth Estate is less honorable than the First Profession."

- Yours Truly

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 64006
  • Alea iacta est! Libertatem aut mori!
Re: Remember that oil war that was supposed to sink America?
« Reply #6 on: August 11, 2015, 11:41:32 AM »
Those populations are going to go nuts...and much of the desert will go back to the way it was centuries ago...


They're (those oil nations) like idiots from the hood that make it to pro sports...and promptly squander their newfound wealth on toys and their posse...and when the gravy train ends are left to selling off memorabilia or whatever assets they have to live.


Logged
We are now where The Founders were when they faced despotism.
Pages: [1]   Go Up
« previous next »