Saudi Oil

truby20

Fighting like a girl
Against my better judgment, I’m posting

Drone strikes against Saudi oil resources have taken out 50% of their oil production facilities


Saudi Arabia is the second largest oil producer, we’re #1


What is our omnipresent leader going to do? Hold on for the spike in gas prices.
 

littlelady

God bless the USA
Against my better judgment, I’m posting

Drone strikes against Saudi oil resources have taken out 50% of their oil production facilities


Saudi Arabia is the second largest oil producer, we’re #1


What is our omnipresent leader going to do? Hold on for the spike in gas prices.
:howdy: Good call to come back. But...are you kidding? I just said to hub tonight that gas prices will be sky rocketing. Not Trump’s fault. It would happen no matter who is prez. Now, that I think about it more, I think Trump was elected because his name is Trump. Our world has become a game of poker.

And, to add...Trump has no control over the tankers that have been seized by Iran, or others. God bless anyone involved in that shiat. I like you so much, but you need to wake up from your slumber. What are your thoughts about 9/11?
 
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Hijinx

Well-Known Member
Against my better judgment, I’m posting

Drone strikes against Saudi oil resources have taken out 50% of their oil production facilities


Saudi Arabia is the second largest oil producer, we’re #1


What is our omnipresent leader going to do? Hold on for the spike in gas prices.
What is our omnipresent leader going to do? Hold on for the spike in gas prices.

What would you have him do?

Pretty sure the price will go up,but if it can be proven that Iran made the attack, isn't it up to the Saudi's to deal with Iran?
Maybe you think the U.S. should fight for the Saudi's so you could blame Trump for fighting for oil.
Just what is your plan? You seem to think you are much more prepared to deal with this than Trump is.

One thing is certain---no matter what he does --you and others who hate him will say it's wrong.
 

GURPS

INGSOC
PREMO Member
Good thing the US is oil self-sufficient and actually an exporter now, huh?


yeah we really :sarcasm: should not see a spike at the pump but I know better than to expect the EVIL OIL Companies to leave the price the same
 

Gilligan

#*! boat!
PREMO Member
yeah we really :sarcasm: should not see a spike at the pump but I know better than to expect the EVIL OIL Companies to leave the price the same
Oh I fully expect to see a spike. Commodity traders won't miss that chance. But at least now the money stays here and spike will be good news for US companies. Things are still really slow in the gulf, for example.
 

This_person

Well-Known Member
He could invade Venezuela and turn it into an American colony, since the United States is all about wars for oil and imperialism.

Those are the charges against the US, right. So, NOT doing that to such a weak and destabilized country would kind of prove those charges wrong, and doing it would solve the problem and prove the charges are correct.
 
Reactions: BOP

Hijinx

Well-Known Member
Of course the spike will come.
We may be self-sufficient, but that doesn't mean that U.S,. oil companies won't sell to the highest bidder and short the U.S. market for profit.
 

gemma_rae

Well-Known Member
Of course the spike will come.
We may be self-sufficient, but that doesn't mean that U.S,. oil companies won't sell to the highest bidder and short the U.S. market for profit.
And if their CEO's are left-wing wackos, they will do it just to spite Trump.
 

transporter

Well-Known Member
Good thing the US is oil self-sufficient and actually an exporter now, huh?
Which means what, Ivy League Lite?

You do understand that oil prices are set on the world market? You know that right? And you know what that means right (comrade GURPS obviously doesn't)

Oil prices will rise when the first commodity markets open today. How much they will rise and how long the rise will be depends on how severe the damage is.

When oil prices rise, so do gas prices.
 

gemma_rae

Well-Known Member
"Not quite. The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date."
 

GURPS

INGSOC
PREMO Member
You do understand that oil prices are set on the world market? You know that right? And you know what that means right (Comrade GURPS obviously doesn't)
That is COMRADE with a Capitol C ya **** munch


and you are WRONG Once again ...


The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see "Economics Basics: Demand and Supply.")

Not quite. The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.

The following are two types of futures traders:


An example of a hedger would be an airline buying oil futures to guard against potential rising prices. An example of a speculator would be someone who is just guessing the price direction and has no intention of actually buying the product. According to the Chicago Mercantile Exchange (CME), the majority of futures trading is done by speculators as less than 3 percent of transactions actually result in the purchaser of a futures contract taking possession of the commodity being traded.


The other key factor in determining oil prices is sentiment. The mere belief that oil demand will increase dramatically at some point in the future can result in a dramatic increase in oil prices in the present as speculators and hedgers alike snap up oil futures contracts. Of course, the opposite is also true. The mere belief that oil demand will decrease at some point in the future can result in a dramatic decrease in prices in the present as oil futures contracts are sold (possibly sold short as well), which means that prices can hinge on little more than market psychology at times.
 

SamSpade

Well-Known Member
Evidently, while attacked - and shut down - they were not utterly destroyed, especially since they believe they can be back at full production in short order.
 
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