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Thread: $1.97 a gallon

  1. #21
    Awww, jeez Monello's Avatar
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    Williamsburg, VA area had regular for $1.78 this week.
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    Monello thinks he is king of the forum, now. Just keep that in mind.
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  2. #22
    Brandywine Wawa $1.92 12/17/2015

  3. #23
    Quote Originally Posted by Larry Gude View Post
    What does 'winning' look like?

    I presume we're talking, primarily, about Saudi Arabia. While we, generic we, certainly not you, think everything is about us, all the time, Saudi has local concerns and that is Syria which means Russia and it is Iran, both VERY dependent on oil income.

    Saudi wants Syria more conservative and that probably means Assad gone and that means Russia would have to go along which isn't likely. But if they hurt enough due to low oil prices, maybe so? And Iran is Shia which is not Sunni.

    You know all of this. Just wanted to throw it out there.
    Sure, Saudi Arabia has concerns beyond the price of oil and which the price of oil can affect. And they likely think that low-priced oil might further their interests on some of those fronts.

    But in this context I was only referring to their desire to see some of the more marginal new production abandoned so that, hopefully from their perspective, the oversupply would dwindle away and prices would go back up. So winning would look like this: Enough non-OPEC production would stop (not really meaning that existing production would be turned off, but that enough new production wouldn't be developed) such that barrel prices would return to $60 or $80 without OPEC having to cut production itself.

    OPEC would like to see prices higher, something it could probably cause to happen pretty quickly if it were determined to. But it would also like to maintain its market share. Winning, for OPEC, would be getting both of those things. It's sacrificing prices for now hoping to be able to have both things going forward.
    Nearly all success in electoral politics boils down to convincing people that you recognize that they are not the problem, that someone or something else is.

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