Oil is cheap because ISIS
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full production of their fields dumped on the "black@ market at a discount. think about it.
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There is an oversupply because Isis has the spigots wide open.
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There is an oversupply because Isis has the spigots wide open.
There is an oversupply because Isis has the spigots wide open.
From the article:
Why has the price of oil been dropping so fast? Why now?This a complicated question, but it boils down to the simple economics of supply and demand.
United States domestic production has nearly doubled over the last several years, pushing out oil imports that need to find another home. Saudi, Nigerian and Algerian oil that once was sold in the United States is suddenly competing for Asian markets, and the producers are forced to drop prices. Canadian and Iraqi oil production and exports are rising year after year. Even the Russians, with all their economic problems, manage to keep pumping.
There are signs, however, that production is falling in the United States and some other oil-producing countries because of the drop in exploration investments. But the drop in production is not happening fast enough, especially with output from deep waters off the Gulf of Mexico and Canada continuing to build as new projects come online.
On the demand side, the economies of Europe and developing countries are weak and vehicles are becoming more energy-efficient. So demand for fuel is lagging a bit.
Be sure to keep that tinfoil hat tight on your head, and be sure to let us know when you make contact with the extraterrestrials who perpetrated 9/11. #thetruthisoutthere
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or, you could eat YOUR tinfoil hat, and learn to read more. The price of oil keeps isis funded,
and the Saudis are worried about that...
they have no desire to cut production. That would raise prices for iran and isis.
Which, obamao has opened the doors to iran to profit from it.
the moron.
http://www.firstthings.com/blogs/firstthoughts/2014/12/oil-and-isis
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Lol I don't care what the article says. Learn to read between the lines and see things for what they are. ISIS is selling a shitload of oil on the black market at discount prices. That increase the supply elsewhere. Simple economics dictate an oversupply drives down prices. So do firms with the Ability to sell goods for less.
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Pumpkin Eater...is...correct? Wow, I managed to get that out. Yes, ISIS has been flooding the market with cheap oil, and (believe it or not) it affects prices not just in the US. For example, petrol here has come down from a peak of about £1.50/litre to under £1 in the last couple of years.
Blame Turkey for your cheap oil, it's the main driving factor.
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In other words... isis is selling a lot of oil. The Saudis are too, and they don't want to
cut production to raise prices, because that helps their enemy, too.
The Saudis can afford to not make much money right now, but all those countries fear
isis terrorism.
But we doubled our production? Jblu, you have to stop emotionally knee jerking long enough
to look in the mirror at your own "tin foil" dunce cap.
We also still IMPORT oil. Why? Because of refineries. They run at 100%. That means that they
can't run faster or more often, Jblu.
So, it's actually true - because opec doesn't want to fund isis out the wazoo, they are not cutting production.
Too bad you wanted to be a smart ass so much that you end up looking like a dumb ass.
Jblusies gots regretsies ? lol
https://stateimpact.npr.org/texas/2014/10/28/why-is-the-u-s-still-importing-so-much-oil/
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Almost all of the oil Isis sells stays in Syria - they sell it back to Assad and FSA areas.
Turkey is likely a buyer as well but nobody seems to be too worried about it for some reason...(except Russia)
But prices haven't dropped because we're buying oil from Isis.
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nobody said that. Regardless who they sell to, they still make a lot of money for their
terrorism.
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