That's it folks. They win. The cartel's strategy of pumping as much oil as it can to force other producers out of the market appears to be working.
9 replies (most recent on top)
Since Big Shale was an underdog going into the tournament, it came as a surprise to nobody to see them exit in the first round of the playoffs. OPEC is highly favored to win their Southern Conference semifinal match against Western Division rival Latin America. Going into the finals, however, may be a different story. Northern Conference rival Russia was seeded No. 1 going in. Altough they got off to a slow start, they continue to build momentum and have added a lot of depth in key positions. Ultimately winning may come down to a "Hail Mary" but neither team has this in their playbook.
I don't believe OPEC "has won", either. As to Russia and Iran,... yeah, Iran will bring more oil into the market, but that can, and most likely will, be "corrected" by eventually forcing Saudi production down, perhaps with thousands of rabid ISIS turds, rampaging across the border into The Kingdom, either destroying, or taking over, all the production they happen to find. THAT is the usefulness ISIS serves to Putin, which is why he hasn't actually done them much harm. Yet. Make no mistake,... Russia's presence in the M.E. is the start to their fulfillment of a long time goal, and as the Russian economy is dependent upon crude prices, what better way to insure robust prices than to be able to control as much of the supply as possible? Iran is currently of use to Russia, but there can be no doubt as to which of the two is "in charge". Russia's presence in the M.E., and the influx of M.E. refugees into Europe are possibly the two greatest "currents" that will shape world events, for decades to come. Thank you, Barry Satoro, you faggot. The Saudis are watching their world start to crumble.
OPEC has not won. Shale definitely lost though.
The shale industry dug it's own grave. Being greedy has it's consequences.
The faster the shale industry collapses, the faster we can all get back to work. (Except the shale sector)
You are forgetting that Iran will be pumping one million barrels of oil in a day. This will be in the year 2016
Maybe the Saudis have won. For now. But, Vlad and Iran are THERE, and it ain't to prop up the Assad regime.
You can't win with the Saudis. To much oil. Easy to drill and produce.
This is when our government should step in and buy oil from our USA producers to show the Saudi's we're going to protect the USA companies. Maybe then the Saudi's will back off trying to decimate our production companies, which is causing the energy unemployment.