Saudi & USA oil -conspire against Russia

[Sir X]

Did the U.S. and the Saudis Conspire to Push Down Oil Prices?

Irreversible Decline?

By Mike Whitney
Global Research, December 29, 2014
CounterPunch
Region: Middle East & North Africa, Russia and FSU, USA
Theme: Global Economy, Oil and Energy
1529 7 0 1655



“Saudi oil policy… has been subject to a great deal of wild and inaccurate conjecture in recent weeks. We do not seek to politicize oil… For us it’s a question of supply and demand, it’s purely business.” – Ali al Naimi, Saudi Oil Minister

http://www.globalresearch.ca/did-the...prices/5421890

[Willi]

Hummutch time mi haffi quote Sheik Yehmani when dem ask him in bout 2000 why him raise hile price the the 70s and cause global recession?

Him answer, dont ask me ask the PN…sorry wrong person…Him seh dont hask mi, ask Kissingjah as him did want the high price and ah him engineer it.

[Sir X]

Ask Sass, im say a shale , dem a fight gainst..lol....The geo politics of oil is international,The saudi are against Russia not only because the USA is against them but they back their enemies in Iran and Syria, to launch an economic oil war ,even though it puts a defecit in their budget is calculated thinking.

[Willi]

I am wary of paining the wounded Russian bear in a corner.

Russia has the best troops on the planet STILL!

[Sir X]

Not many options but the economic one ,in fact the only one I see.The Bics will prosper.Some will suffer, as long as China and the USA a bathe,its a 365 billion stimulis to the US economy if it last the year,imagine how so the world.

[HL]

I am wary of paining the wounded Russian bear in a corner.

Russia has the best troops on the planet STILL!

>>>>>

[Willi]

U are thinking conventionally. Putin nuh think suh!

[Sir X]

"Did you know there's an oil war? And the war has an objective: to destroy Russia," he said in a speech to state businessmen carried live on state TV


http://www.reuters.com/article/2014/...0K802020141230

[Willi]

On the other hand, oil prices should nevre have gone above $50 a barrel at the extreme, so they are just victims of the greed. the real war is against us, the consumer.

[Sir X]

With you on that , 60 sounds reasonable,spoke to friend and he remarked ISIS took control of Iraq and oil prices dropped further ,keep in mind he said we have sanctions against Iran,and when we invaded , had control,prices went through the roof.BTW libya is in a civil war.


Shale my ass.

[Sir X]

Putin ‘not so smart’ after all – Obama.Russian economy attacked through oil prices – Obama.

http://rt.com/usa/218731-obama-npr-interview-russia/

[Sir X]

2h ago
06:25
Oil is heading for its biggest annual price decline since 2008.

Brent crude oil is down 49% over 2014 on the back of weaker demand and a supply glut. It is currently trading at close to $56 a barrel, after hitting a peak of $115 in the summer.

The annual decline is the biggest since 2008, when the demand plummeted in response to the global financial crisis. Prices at the time were eventually propped up by OPEC’s decision to cut production.

This time around however, OPEC has refused to cut production, opting instead to preserve market share.

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2h ago
06:02
The US opens the door to oil exports

President Obama has signalled an end to a 40-year ban on domestic crude oil exports.

Reuters reports:

The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets.

The Bureau of Industry and Security, or BIS, which regulates export controls, said it had granted permission to “some” companies to sell lightly treated condensate abroad. Condensate is a form of ultra-light crude.

Some two dozen energy companies had asked the agency for clarification on permissible exports earlier this year, but until Tuesday those requests had been put on indefinite hold.

The BIS also released guidance in the form of frequently asked questions, or FAQs, to explain what kind of oil was generally allowed under the ban, the first effort by the administration to clarify an issue that has caused confusion and consternation in energy markets for more than a year.

The two measures are clearest signs yet that the administration is ready to allow more of the booming U.S. shale oil production to be sold overseas, where drillers have said it can fetch a premium of $10 a barrel or more.

They follow a year of murky messages and widespread uncertainty over what is or is not allowed under a trade restriction that critics say is a relic of a bygone age, when oil was seen as scarce after the 1970s Arab oil embargo.

A domestic drilling boom of the past six years has transformed the United States into an energy powerhouse, boosting U.S. production by more than 50 percent and reversing decades of decline.

Output of very light oil has been especially strong, leading to a glut that threatens to overwhelm domestic demand.

http://www.theguardian.com/business/...r-shrinks-live

[Sir X]

Russia inna serious prablems- neoconsumer geo political liberalism is unleashed on the Bear .


Look like dem out fi gi im mange.

[Karl]

Musings...mmm?

Unthinkable! - shouts the GOP.
Obama's strategy against Russia and in the Middle East is 'nonsense'. All that is happening is mere chance. It is a mere fortunate occurrence and has nothing to do with the inept and weak Obama.

[Sir X]

Thats what they are saying, its a shale boom ,keep in mind , Libya has a civil war and ISIS took control of Iraqi oil fields , Iran has a oil ban, speculators would argue oil should be at 150 or 200 a barrel , instead we have it falling and the Saudis flooding the market.

Coincidence ?...Obama ave dem like fools.