The Real Reason Behind the Oil Price Collapse

  • metta

    Posts: 39134

    Mar 16, 2015 4:24 AM GMT
    The Real Reason Behind the Oil Price Collapse


    It’s not overproduction in shale fields, and it’s not global economic stagnation. It’s something far more threatening to Big Oil’s business model.


    http://www.thenation.com/article/201249/real-reason-behind-oil-price-collapse


    (fixed. Thanks bobbobbob icon_smile.gif )
  • bobbobbob

    Posts: 2812

    Mar 16, 2015 6:35 AM GMT
    No doubt you forgot to add on a link.

    http://www.thenation.com/article/201249/real-reason-behind-oil-price-collapse#
  • Posted by a hidden member.
    Log in to view his profile

    Mar 16, 2015 12:03 PM GMT
    metta8 saidThe Real Reason Behind the Oil Price Collapse


    It’s not overproduction in shale fields, and it’s not global economic stagnation. It’s something far more threatening to Big Oil’s business model.

    What? This suspense icon_mad.gif
  • tj85016

    Posts: 4123

    Mar 16, 2015 3:58 PM GMT
    wrong, it's overproduction, economic stagnation and futures trading in London and New York

    you can't just blame it on Exxon and Shell when there are about 200 pretty big oil companies around the world
  • roadbikeRob

    Posts: 14354

    Mar 17, 2015 2:58 AM GMT
    Not only is oil in a price slump. Natural gas is also more than plentiful and there is a glut of it in the marketplace.
  • tj85016

    Posts: 4123

    Mar 17, 2015 4:18 AM GMT
    roadbikeRob saidNot only is oil in a price slump. Natural gas is also more than plentiful and there is a glut of it in the marketplace.


    yep, and iron ore, used for making steel, has gotten destroyed recently
  • Posted by a hidden member.
    Log in to view his profile

    Mar 17, 2015 6:18 AM GMT
    It wont last long the prices have been climbing back up the past couple weeks.
  • tj85016

    Posts: 4123

    Mar 17, 2015 6:19 AM GMT
    bk11789 saidIt wont last long the prices have been climbing back up the past couple weeks.


    what? WTI dropped back to $43
  • Posted by a hidden member.
    Log in to view his profile

    Mar 17, 2015 5:29 PM GMT
    I was happy at a buck a gallon. Easy math. U knew how much it would cost to take long riadtrips.
  • Posted by a hidden member.
    Log in to view his profile

    Mar 17, 2015 8:13 PM GMT
    Last night on ABC news financial they were discussing this same topic as well in view of current talks the USA/Iran is having. If an accord is struck which they presumed will occur. They are predicting that oil flooding the market as well as Iran tries to recoup some of its loses from the embargo. Hence they noted oil prices could reach $20.00 a barrel which would be unheard of.