Posted on Mar 11, 2020
Saudi Arabia Books Supertankers To Flood U.S. Markets With Oil | OilPrice.com
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Saudi Arabia is using soft power!.
Saudi Arabia looks like it wants to take out/put out of business American, Canadian, Russian and Iranian producers by flooding the market with oil. Alberta has already lost 50,000 jobs in the last 5 years due to low oil prices.
Saudi Arabia looks like it wants to take out/put out of business American, Canadian, Russian and Iranian producers by flooding the market with oil. Alberta has already lost 50,000 jobs in the last 5 years due to low oil prices.
Saudi Arabia Books Supertankers To Flood U.S. Markets With Oil | OilPrice.com
Posted from oilprice.com
Oil and Energy
Saudi Arabia
Russia
Iran
Defense
Posted >1 y ago
Responses: 8
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The thing is, oil is lucrative and doesn't go anywhere. Producers in the USA can simply turn pumps off and delay new exploration until Saudi Arabia returns to normal operation.
Places like Iran, Russia, and Venezuela don't have that option, and this action hurts them badly.
Watch Iran for a potential response.
Places like Iran, Russia, and Venezuela don't have that option, and this action hurts them badly.
Watch Iran for a potential response.
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Sgt Jim Belanus
took a little trip this winter, about 4500miles, much of it through oil country. Lots of rigs not pumping those that were ,not going with any speed
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LTC (Join to see)
Sgt Jim Belanus Thank you for your feedback. The Canadians of cut back sharply on their outlay for looking for new oil sources and Alberta.
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On the plus side, them driving down oil prices hurts the hell out of Iran, and most likely will hurt Russia's economy as well since oil is a big part of their income.
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1SG (Join to see)
Both of them will blink long before this has deleterious affects in America.
Mostly, we consume our own supply.
Mostly, we consume our own supply.
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