Will Venezuela Survive Low Oil Prices?

Why would we care?

Canadian tar sands will replace the oil we got from Venezuela and Russia.

not the same stuff

It's close enough.

I thought it was higher sulfur content

Venezuela sealed their fate when they put a Marxist pig in charge. The same will come to the US.

Oil prices have nothing to do with it.

Did you hear that Barry wants to extend high school to grade 14?

Yeah...as long as school lunches remain in place, we can now provide a free GED to a bunch of 20 somethings. Ain't socialism wonderful?

These oil prices are being intentionally manipulated with the idea of putting Russia out of business. We are playing with fire, and we've got an amateur and coward at the helm.

This won't work out well.

What does your hatred of Obama have to do with any of this?

You should leave some serious threads untainted with your single minded contempt of the man. He did, after all get elected twice.

I'm not saying he did a good job, but...................................................give it a rest.

There are really big things happening right now...it's far too complicated for me to understand, much less try to explain them to someone like you that is mired in race.

I'll give it a rest...and you prepare yourself for an interesting future.

It goes soooo far beyond having a half black president, the truth would probably drive you insane.

Stick with what you know. That's what America does...blind trust.

How 'bout them Kardashians?

He's not behind the fall, but can predict the coming increase?

http://dailysignal.com/2015/01/09/leave-suv-take-prius-obama-warns-gas-prices-gonna-go-back/?utm_source=facebook&utm_medium=social

I'm gonna have to agree with you. Obama doesn't have the slightest clue what's going on outside of his single minded devotion to Marxist Utopia.

Bad presidents of the past?

As bad as Obama is, he hasn't come close to Bush's involvement in the false flag we call 911.
I'll start a thread in the breakroom soon, but at the moment I'm so sickened and disgusted by our supposed "leaders", that I'm almost speechless.

Finally, we agree.

We usually do...you just have this strange idea that black people are automatically trustworthy. I've got at least a hundred stories that say they aren't...nor are white people.

If the SOB is breathing, you'd best not turn your back on it....I don't give a sh*t if it's male, female, or what damned color it is.

And what sort of society has produced this lovely view of the world you have?

False flag!!! Remember a future S.o.S and the Lyin of the Senate both concurred. And as for Iraq, two future S.o.S' plus the Lyin of the Senate agreed with that move.

Obama's not behind the oil price drop. Shoot, he found out it was dropping by watching CNN, just like the rest of us.

I don't know the skinny on the games that are being played, but I've done enough research to know that they are dangerous.

I remember when CNN used to report the news, now they just try to create it

Two points it wasn't Clintons policies, it was Gingrich. As for unpopular Presidents, Andrew Johnson, as well as Jimma Carter. And of course one of the nicest people to ever grace the WH GWB. Course there is always a rose between to thorns!!

I wasn't around back then, but I bet Buchanan got some really bad press.

ya got to admit the Saudi's and Americans are putting the boots to Putin! the Europeans already had a bully in the neighborhood once that invaded sovereign countries and made them his own. this will not be repeated. you're seeing a united effort to crush! and I think the price of poker goes up daily

Yep. We're screwing Putin good.

The price of poker is going to start costing lives before too long.

Are you willing to bet on Barry the community organizer, against Putin, the Chinese, and maybe all of the BRICS?

Calm down! Calm down!

I'm faccing as fast as I can!

Well as fast as I can without actually doing any real work persae, but still my thoughts are in the right place. Well they are on how outrageously big my paycheck is and how it going in my bank account is the right place for me....

What are we pretending to care about now?

95%, talk about putting all your eggs in one basket....so they just have to produce more oil......much more....or they might think about economic diversification....this was an incident waiting to happen...I hope they aren't thinking of following Putin's lead and invading a neighboring country to expand their economic base....that I fear would be a fatal mistake....

Remember when we were out of oil in the 70's?

Price spikes. I was a kid in the back seat, but I sure didn't like waiting in line for the "even number" days.

I'm not even going to pretend to know the story behind the oil manipulation, but I fear that the people behind it are far more stupid, selfish and greedy than I am.

Eventually we will kill each other over dwindling and squandered resources. It's a shame.

C'mon now you're not stupid,, just paranoid and uninformed....The price of oil is controlled by supply vs demand, not sinister phantoms....

http://www.theoildrum.com/node/2899

http://www.eia.gov/finance/markets/demand-oecd.cfm

I have felt that for the most part that is true, but that the price is indirectly controlled not by production of oil, but the refinement.

A few year ago,(About 5 years ago), Saudi Arabia would ship more oil, but it would do no good, because our refineries were already running at capacity.

So you're saying that the price of gasoline controls the price of oil?? ...but wouldn't the oil supply backup, then reaching storage capacity, result in lower demand, thus lower prices?? I mean you can't just keep buying oil if you're just putting it in storage....check out our strategic reserve and our current rate of barrels per day purchased...storage capacity....the numbers don't work....all of this information is documented and available to the public....in fact it's very closely followed by industry analysts....besides that, the effect would be across the entire product line of oil derived products...the companies would lose billions and the management would be voted out and probably prosecuted...

Strategic oil reserve...

" the United States imports a net 12 million barrels (1,900,000 m³) of oil a day (MMbd), so the SPR holds about a 58-day supply (when accounting for domestic production). However, the maximum total withdrawal capability from the SPR is only 4.4 million barrels (700,000 m³) per day, so it would take over 160 days to use the entire inventory."

" The total value of the crude in the SPR is approximately $43.5 billion. The price paid for the oil is $20.1 billion (an average of $28.42 per barrel).^[5]"

^"On August 17, 2005, the SPR reached its goal of 700 million barrels (110,000,000 m³), or about 96% of its now-increased 727-million-barrels (115,600,000 m³) capacity. Approximately 60% of the crude oil in the reserve is the less desirable sour (high sulfur content) variety. The oil delivered to the reserve is "royalty-in-kind" oil-royalties owed to the U.S. government by operators who acquire leases on the federally owned Outer Continental Shelf in the Gulf of Mexico. These royalties were previously collected as cash, but in 1998 the government began testing the effectiveness of collecting royalties "in kind" - or in other words, acquiring the crude oil itself. "

http://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

http://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%28United_States%29

Supply and demand determines oil prices...You can add market sentiment and futures traders to that, but that's more a short term effect....

No, as I said prior, when gas prices were so high, Saudi Arabic would have shipped us more crude, but the reason they didn't is that our refineries turning this crude into gasoline were already running at maximum capacity already.

i.e. I'm saying the ability to refine oil into gasoline affects the price of oil, because of a lack of refining facilities.

If you can't refine enough gas to supply demand, it creates higher gasoline prices.

There is a lot going into this, but to be able to control this refining process. It's the derivatives that can be controlled to indirectly control the price.

Strong EPA laws, every enjoys the a clean environment. To build a refinery the environmental impact study are huge. I don't have the requirement, I believe it was brought up here before.

So its not really, controlling the actual supply of oil from the oil fields, it supplying the ability to refine it. Cars don't run on crude, they run on gas. when there is a demand for gas, That create the demand for oil.

It's my opinion, that it's not so much now as to controlling the crude oil supply, but the ability to refine into gasoline that has the biggest derivative impact on the price of crude oil.

So don't look at crude oil supplies, but the ability to refine the crude oil is my point.

a link on our refineries capacity.

http://www.factcheck.org/2008/05/us-oil-refining-capability/

You honestly don't believe that OPEC has been manipulating oil prices for decades?

Interesting. I think I'll stick with paranoid and uninformed.

https://eointernational.wordpress.com/2014/10/13/falling-oil-prices-and-the-manipulation-of-the-opec/comment-page-1/

Out of oil in the 70's. We sure were - I was there - in the oil field at that time. What we were out of was easy to drill and produce oil that cost less than $35/barrel to produce. Get the price up to where it is economically feasible to produce, and now we have a good reserve. The oil was there back then, and the oil field knew it - they just weren't going after it until it was worthwhile. Most people have no idea what it costs to drill for this stuff. I was a well analyst and tied up the drilling rig while I tested the well and I had the customer on my ass the moment I arrived asking if I was done yet - telling me what the rig was costing him just sitting there idle. I got run off a couple times for taking too long to do my job.

This current glut is a play to get the small producers in stripper well areas and the producers of tight sands and other expensive to develop reservoirs out of the market for a while. The OPEC countries still have the cheapest oil to produce.

That was the time of independent gas stations having gas price wars.

Price wars??? I remember having "odd and even" days. If my license plate ended in 1, 3, 5, 7, 9, I could go in on Monday, Wednesday, Friday for fuel this week, and the other days the next. The independents didn't have gasoline to have wars with. I carried two 5 gallon containers of gasoline with me when I went out of state in case I wasn't allowed to buy any there.

gas price wars right before the rationing. circa 1972.

After the oil embargo, Remember when they had to change out the gas pumps, because the pumps mechanical tumblers couldn't register the higher price per gallon.

even though, I was at a gas station in the north woods of Wisconsin that what ever the price reflected on the pumps, you had to double it.

And that was in 1980.

my dad owned over a dozen stations through the years, I saw it all

well, I'll tell you something your don't know......

Let me get back to you.

29 cents for regular. That's outrageous. It used to be eight gallons for a buck (according to my best friend's dad when he first got his license).

highway robbery

I see it as less of a conspiracy than opportunistic serendipity.

I think the system (oil as well as financial) is much too complex to simply manipulate or be controlled by any one group; at least not reliably.

No doubt that actors try to do this, but it is like a giant multi-player chess game with each player having their own agendas and sometimes working with others and sometimes against. No one player is omnipotent in the game.

a quote from my link above from the kingpin of Iran Khamenei, who blamed the freefall in oil prices on "enemies,"Our common enemies are using oil as a political weapon and they definitely have a role in the sharp fall in oil price."

Yes, Russia says that, just like anyone else that is negatively impacted says it.

Meaningless chin wagging chatter - A.K.A rhetoric.

Oil prices dropped to about $12/barrel in 1998 and less than $60 in 2009. They survived that - what is their problem now? This drop to $50 is so recent it's hard to believe their economy is wrecked already. Not saving for a rainy day?

pretty telling story.http://latino.foxnews.com/latino/news/2015/01/10/venezuela-maduro-has-dropping-oil-price-on-mind-during-visit-to-iran/ its not long ago Venezuela was claiming to have more proven reserves than Saudi Arabia. now their chief clown is over there begging them to turn off the spigot. I'm enjoying this show while it lasts

We are a genetically defective species fit only for survival in the jungle. We've never left the dark ages, emotionally and are on a fast train to extinction. We are monkeys with guns and money.

And oil.

Jan 27..oil falls 3% more. now trading in the 46's. this is crushing oil Dependant economies

and also our own,

This will have a trickle down effect in the U.S. employment. Large Companies such as Halliburton already have a hiring freeze on.

Alberta has sent many packing as well

My girlfriends youngest daughter just graduated in December with degrees in GeoScience and Environmental

She was pretty excited that Halliburton wanted to fly her down to Texas for an interview. I told her 3 months ago, that she'd better have a plan 'B'.

Halliburton now has a hiring freeze on.

This is going to have a devastating effect on employment, but it's only going to be temporary.

If I was cynical, which I am, I'd say, another war would take care of this.

They have a bit of other industry, as we just sent a pharmaceutical process skid down there. However, they are WAY TOO MUCH dependent on oil. Live by oil - die by oil.

This is a squeeze to get all the expensive oil producers out of the game. OPEC has the cheapest to produce oil. The glut was being caused by oil that requires $95/barrel pricing to be economically feasible to produce. The question we should be asking is:

Will our small producers and drilling companies in the USA survive this? We have quite a few small producers in the NW corner of Pa that are deep in debt, having just up-graded facilities and well sites and now worrying about insolvency. We also have drilling companies and field service companies cutting people. I have friends laid-off with no end in sight until oil goes back above the magic $95 mark.

Oh yeah - my oil and gas based mutual fund just sunk, and just before retirement - bummer.

oil was their economical savior, if you could call it that.

Remember the term "quantitive easing"? The devaluing of the dollar by the "fed", a group of bankers who loan our government money, which is/was being used to purchase oil around the world is being phased out by many gov'ts. We, as Americans, should be just as more pissed a the dollar is devalued. Russia, China, and the BRICS are poised to "shove it in", better brace yourself!

I just read that Qutari banks are going to provide Venezuela billions of dollars to weather the slumping oil prices.

Venezuela president Nicolás Maduro has been making the rounds with various OPEC countries since January 9th and next on his list is Algeria. He did not say exactly how much money has been pledged, just that the funds would be going to important development projects.

I am not clear if these pledges will help the more immediate basic living needs of Venezuelans or if they will keep civil unrest in check. It will be an interesting balancing act for Maduro, as Venezuela is one of the most vulnerable countries to oil cuts.

Politics; a two part word;

Poly,which means many,and Ticks,which is a blood sucking parasite.

How appropriate the word.

Here's another:

A flock of geese,

A pack of wolves

A herd of cattle

A murder of crows

A CONGRESS OF HYENAS

Look it up.

To say that I have a low opinion of politicians is an understatement, but this feeling

of distrust and disgust goes back to infinity in history.

Some may reflect on remembering the days when politicians were honest and

trustworthy,but it is due to Alzheimer's,not facts.

Big business used to influence Government, but now it IS the government.

Look around.You will see.Voting is just a pacifier for the people,to give the illusion of control.

Stalin said:"It is not the people that vote that are in control.

It is the people that count the votes that are in control"

or words to that effect.

We have an illusion of freedom.

We can have 100 flavors of ice cream, 50 contestants for Miss America,but only 2 for

president,each of whom have been vetted by big business to achieve their goals.

The American people have lost whatever minor control they once had.

The pipeline from Canada to the Gulf will not provide a single drop for our use,it will all be shipped overseas.

Dang the environmental impact and the taxpayer's money, to hell with what the

people want.We know what is best for them.

We (big business) have to have a ROI,and what is good for us, is good for them.

Trickle down economic ring a bell?

They sit in their ivory towers and if anything goes wrong,they simply "..Want their life back."

Do you think the 6 men that were killed on the BP rig would want their life back?

And their families?

Do you know how Shell and BP treat the locals while they rape the land of oil,and

destroy the environment?

Well, before I get off on a rant, I will just shut up.

I am too old to worry much,but my grand kids will live in a different world,a world of

no privacy,no freedom of speech or thought.

The will simply be cattle.Consumers.Controlled by Big Business aka:Big Brother.

The Internet of everything will see to that.

Orwell was right, we are just a little behind.

IMHO.

No manipulation here...just supply and demand issues.

https://en.wikipedia.org/wiki/1973_oil_crisis

http://money.cnn.com/2015/01/02/news/economy/Russia-rescues-companies/?source=yahoo_hostedbetter pump more oil!!!!....its getting ugly

..............45'sthe vise tightens

there's always a need for petroleum. give it time to find the balance.

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