| Author | Message | ||
     Coolmac Megastar Username: Coolmac Post Number: 29550 Registered: 05-2007 Posted From: 96.255.8.51 Rating: N/A |
Not true.. US onshore gas drilling is entirely done by private companies like Devon, Exxon etc... and they are investing heavily in this year and next year as the US is giving tax credits on their investment on shale gas drilling. So, They can manage these low prices until they get those tax credits till end of next year. kani Saudi,Iran, Iraq oil drilling is 99% by Govt in those countries.. and its not shale either.. Shale gas drilling is expensive than regular drilling.. Regular one costs them just 4-8$ per Barrel..flip side is their govts are depending heavily on the profits come from the oil for bread and butter of country..where as US has nothing to do with the income from shale gas, its all private... | ||
| Nobody Junior Artist Username: Nobody Post Number: 129 Registered: 01-2012 Posted From: 70.116.54.35 Rating: N/A |
Russian oil companies earn dollars abroad for their exports, but spend rubles domestically. That means that their extraction budgets remain unaffected and, additionally, it ensures that government tax receipts won't drop precipitously. Production actually rose to 10.6 million barrels per day in September, close to the highest monthly figure since the collapse of the Soviet Union. Russia's 8 million barrels of daily export account for 15% of the total oil moving in world markets. Ironically, Obama's sanctions could have worse consequences for the US. If Russia ramps up production in order to raise revenues, that will lead to an even bigger fall in oil prices. And one of the primary victims will be US shale production. US fracking operations-which are more costly than conventional Russian (or Saudi) drilling-begin to get uneconomical below $70 per barrel. If the price drops to $60, many US unconventional wells will have to shut down and imports will rise once again. Thus, the slide in oil prices threatens American energy independence and emboldens rather than weakens Russia. | ||
| Royyala_nayudu Side Hero Username: Royyala_nayudu Post Number: 3070 Registered: 04-2014 Posted From: 99.108.228.169 Rating: N/A |
For Shale oil 96% of it is profitable if the price of oil is above $45/barrel. Moreover this is additional income for US unlike Saudi, Iran and Iraq which are solely dependent of Oil income. For Russia, Venezuela and Nigeria most of the money comes from Oil. Compared to them USA revenue from Oil is much lesser compared to overall economy. | ||
| Firehawk Junior Artist Username: Firehawk Post Number: 551 Registered: 02-2014 Posted From: 64.121.41.86 Rating: N/A |
yes, saudi ko iran se Dar hi.. they can not take them in battel field instead they are waging war in oil field. 2 birds 1 shot.. both russia and iran , depend on petrol dollars..but it was saudi who has more than 200 billion on cash pile... they can sustain for next 1 year like this.. but not iran or russia.. russia looses are expected to be around 100 billion | ||
| Emc2 Legend Username: Emc2 Post Number: 37290 Registered: 03-2008 Posted From: 71.246.232.89 Rating: N/A |
Pochi u can pay higher prices When they are charging 150 barrell they made enough profits | ||
| Gringo Junior Artist Username: Gringo Post Number: 339 Registered: 10-2014 Posted From: 72.15.229.180 Rating: N/A |
Article says the USA is a winner, that isn't entirely true. The entire shale boom will go bust at these prices. They need to have $70 oil or they no longer are profitable. I believe this oil plunge is temporarily but if it stays this low for a while you will see many oil companies going bankrupt, job losses, and massive bank losses as loans and derivatives are going to blow up because of the massive malinvestment in the sector. http://i.imgur.com/eI7517s.jpg?1 | ||
| Gringo Junior Artist Username: Gringo Post Number: 338 Registered: 10-2014 Posted From: 72.15.229.180 Rating: N/A |
http://nypost.com/2014/12/14/saudi-arabias-oil-war-against-i ran-and-russia-2/ http://i.imgur.com/eI7517s.jpg?1 |
