A look at oil production | Watts Up With That?
. ever since. This graph suggests that the market changed from inherent over-supply to inherent tightness in June 2004: Figure 1: World Oil Production and Oil Price 1994 ��� 2011 World���. The decline in US production began over four decades ago in 1970, as predicted by King Hubbert in 1956... Are you claiming that the reason we arent drilling in ANWR, off the Florida and California coasts, is because oil costs too much, and not that the politicians wont let us?
Did The Saudis And The US Collude In Dropping Oil Prices.
The Saudis and other OPEC members have, of course, used the oil price for the obverse effect, that is, suppressing production to keep prices artificially high and member states swimming in ���petrodollars���.. As far as the non peak oil folks Ill believe it when i see us stop drilling holes under 2 to 3 miles of water - though alot of those contracts are being vacated just now theyll likely be back.. one last kick the can down the road to jump start the dead US economy?
Check out Bostons glowing, futuristic Olympic bid logo
The Boston 2024 Executive Committee is calling this shining blue octagon a beacon. Its relatively innocuous in its 2D form, if slightly similar to the Chase bank logo, but in its official promo video the logo is transformed into a glowing hologram.
Biking With the Bard
That the kingdom announced his ascension so quickly appeared to be an effort to assuage fears that the oil-rich country would become unstable in the wake of the kings death. ���His Highness Salman bin Abdulaziz Al Saud and all members of the family and .
Oil Hits New Lows, Brent Crude Nears $50
On Monday, the kingdom lowered the price of its benchmark light oil in the U.S., a sign that it may be trying to regain market share by pushing prices low enough that U.S. shale-oil production becomes unprofitable. On Tuesday, Saudi Arabias King.
Oil Price Blowback: Is Putin Creating A New World Order.
. rests, the dollar. Up to now, of course, Russia, Iran and Venezuela have taken the biggest hit from low oil prices; but what the Obama administration should be worried about is the second-order effects that will eventually show up.. World prices have halved to less than $60 a barrel since the summer as top exporter Saudi Arabia, once a staunch defender of $100 oil, refused to cut production in the face of surging U.S. shale output and tempered global demand���
Saudi King Delays More Flogging of Blogger Raif Badawi.
So now Badawi may (may) avoid those final 950 lashes, which is basically death by torture. However, even if that happens, it likely wont keep him out of prison and not seeing his three children until theyre fully grown���all for��.
Why Americas going to lose the oil price war | Financial Post
Its time to heed it, because Saudi Arabia and other major Middle Eastern oil producers are unlikely to blink and cut output, and the price is now approaching a level where U.S. production will begin shutting down.. enough; they would keep producing even at very low sale prices because the marginal cost of pumping from existing wells was even lower; OPEC would lose because its members social safety nets depends on the oil price; and anyway, OPEC was dead.
Saudi King Abdullah Hospitalization Sends Stocks Tumbling.
As Emad Mostaque of EC Strat, accurately observes: Oil prices are now at levels that cause real concern on the streets of Saudi Arabia, with the prospect of succession the icing on top that has caused retail investors to take the. Summary: King could change, new King can do (almost) anything he wants, including changing oil policy The Saudi market collapsed 6.5% today on Saudi Press Agency reports that King Abdullah was admitted to hospital for medical tests.
UK inflation rate falls to 0.5% in December
Martin Beck, senior economic advisor to the EY Item Club, said a negative reading in February is now looking more likely than not as the impact of further oil price falls had yet to feed through.. It will be an environment, most likely, that.
Saudi Arabia Ready For $20, $30, $40 Oil | Zero Hedge
Among the non-OPEC low-efficiency producers, Saudi Arabia aims to squeeze out Russia ��� who they mentioned specifically ��� and particular plays across North America, where non-OPEC growth has been most rapid.. The idea that investors wont dive in again is laughable. Look at the housing market.. Just today, Saudi and UAE have said that oil price decline is because everyone else is producing more oil so why should only OPEC cut oil production. This clearly��.
Morning MoneyBeat: Will This Be a Lost Year for Earnings?
Despite lowering its earnings outlook, Bank of America maintains its year-end 2200 target for the SandP 500 as a reallocation to U.S. stocks from other regions and asset classes could power major averages to records this year. Still if stock prices.
US scientists will soon test Ebola vaccines in West Africa
The National Institutes of Health is launching a clinical trial of two different vaccines in partnership with the Liberian government, USA Today reports. In Sierra Leone, the Centers for Disease Control and Prevention researchers will test one vaccine.
Thai lawmakers impeach ex-Prime Minister Yingluck Shinawatra
On Friday, Thailands parliament retroactively impeached former Prime Minister Yingluck Shinawatra, accusing her of a scheme involving overpaying farmers for rice. Shinawatra was removed by Thailands top court last May, days before a military junta.
Happy birthday, Edgar Allan Poe! Check out some of his creepiest stories and.
Its been nearly 200 years since Edgar Allan Poe established himself as one of the worlds all-time great horror writers ��� but his tales of the macabre have lost none of their mesmerizing power. Today ��� which would have been Poes 206th birthday.
How to stop the torture of oil prices - CNBC.com
Addressing Americas oil glut, Mad Money host Jim Cramer says oil companies will eventually stop drilling and energy prices will ultimately fix themselves, but that may not happen anytime soon.. Oils going lower. It virtually has to because next year well be pumping much more than forecast���we always exceed forecast, while I suspect that Iran will be doing the same thing, too, Cramer said. Only the Saudis can let up.. But it certainly wont happen in 2014.
Saudi Arabia is playing chicken with its oil - Reuters
The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil���which requires higher prices to remain competitive with conventional production���out of the market. More broadly, the. PHOTO: Saudi King Abdullah bin Abdul Aziz al-Saud sits before a meeting with U.S. Secretary of State John Kerry at the Royal Palace in Jeddah September 11, 2014... It wont work, neither has a foreign policy that can be driven by short term economic concerns.
Whats Going On With Oil Prices? Triads and Consequences.
John Kerry, the US Secretary of State, allegedly struck a deal with King Abdullah in September under which the Saudis would sell crude at below the prevailing market price. That would help explain why the price has been��.
US Secret Deal With Saudis Backfires After Oil Minister.
The U.S. is a big producer too now. Should they cut? As Reuters reports, OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer groups meeting this week,��.
DreamWorks is cutting 500 jobs
The change comes as part of restructuring its feature film business, CNBC reports. The study will also focus on producing two feature films per year from now on, instead of three. With all the changes implemented, DreamWorks estimates theyll save $30 .
A Richer World. but for whom?
One benefit from that is that we are living longer. In the middle of the last century a new-born baby could expect to live 50 years. Now the figure is 70. Once again there are large variations between countries but the favourable trend in that period.
Saudi Prince Warns We Will Not See $100 Oil Again, Calls.
As USA Today reports, the prince of the Saudi royal family said that while he disagrees with the government on most aspects, he agreed with their decision on keeping production where it is, adding that if supply stays where it. On the theory that the US and the Saudis have agreed to keep prices low to pressure Russia, the prince exclaimed, that is baloney and rubbish, adding that, Saudi Arabia and Russia are in bed together here. both being hurt simultaneously.
Saudi Arabias King Abdullah dies
Saudi Arabias King Abdullah bin Abdulaziz al Saud has died at the age of 90, according to Saudi state TV. The next king will be Prince Salman bin Abdulaziz. Weeks earlier, it was reported that Abdullah was hospitalized for pneumonia, CNN reports.
Will Falling Oil Prices Destroy Tesla? | Alternative Energy.
That being said, low oil prices are not a death sentence for electric cars ��� despite a lot of wishful thinking from those who have cursed Elon Musk since proving to the world that an electric car can be more than a glorified golf cart.. Because the U.S. economy is so directly tied to the price of oil, and because the U.S. government is so reliant upon royalties from oil production, I find it hard to believe that the state wont devise a plan to manipulate the price of oil in an effort��.
Saudi Kings death wont likely change the course of oil prices
Crude oil prices are up in early trading following the death of Abdullah bin Abdul Aziz, king of oil-rich Saudi Arabia. Abdul Aziz death isnt expected to slow the flow of oil from worlds biggest oil exporters and a key leader in the Organization of.
Death of King Unlikely to Alter Saudi Oil Policy
Saudi Arabia has charted a long-term course to drive down oil prices and maintain its major share of the global market���and a change of who is on the throne in Riyadh wont likely alter this course, energy experts said. Even after the death of King.
Kobe Bryant has a torn rotator cuff, could sit out the rest of the season
. princes from different branches of the family, many analysts are expecting a dynastic struggle. In the short term, with trouble at the kingdoms borders and low oil prices, Saudi watchers dont expect King Salman to change many policies of his.
The Saudi king is sick, and markets are watching - CNBC.com
Experts predict a smooth succession if Saudi King Abdullah were to die, but future transitions could prove problematic.. Still, those concerns pale in comparison to the current succession worries in Oman, Saab said.. It is highly likely that the 79 yr old Salman wont be the next Saudi King, due to the high pressures of that position brought on by the sharp drop in Crude Oil price to $55 per barrel, compared to $100 per barrel in March 2014 when Salman was��.
Pres. Obama to visit Saudi Arabia amid worry over Iran deal.
Saudi Arabia and the United States are longtime allies, having been bound by mutual military interests and Saudi Arabias oil supplies. The alliance has been shaken, however, by the U.S. deal with Saudi Arabias regional��.
Markets Live: ASX through 5500
Fortescue, on the other hand, continued its descent, down another 1.8 per cent today. Arrium plunged 8.9 per cent after announcing it would shut a mine. Energy shares gained as the death of the Saudi King pushed oil prices higher. Woodside added 2.3.
Why Oil Is Plunging: The Other Part Of The Secret Deal.
The Organization of the Petroleum Exporting Countries, which is the technical arbiter of the price of oil for Saudi Arabia and the 11 other countries that make up the group, wont be able to affect Saudi Arabias decision, Abanmy maintained... Saudis as being the king of supply. Part of the Deal for sure. Petrobas will most likely not happen in our lifetimes and forget piping sand, (LOL), from Canada to U.S.A. because nobody will fund it now. The Peak Oil Party is over.
Watch the bone-chilling first trailer for Hannibal season 3
There are few shows that pull off a cliffhanger with more panache than NBCs Hannibal, which gutted most of its major characters at the end of its second season without revealing which ��� if any ��� would survive. Fans wont find many hints in this.