KSA - Iran tensions boiling over?

[taxman]

what can we do? look whats happened to all the other countries weve tried to "help" or bring into line in that region

 

For a starter we could stop buying their oil and stop selling them weapons.

 

A bit ago we could have just taken their silly oil and done them over but now we've sold them so many planes and taught them how to kill us we can't even do that.

[Anna B]

For a starter we could stop buying their oil and stop selling them weapons.

 

A bit ago we could have just taken their silly oil and done them over but now we've sold them so many planes and taught them how to kill us we can't even do that.

 

Mmm... Personally, I neither buy oil, nor sell weapons. So by 'we' I take it you mean the government. But since when did any government give a toss about what we think. You may not have noticed but these days governments of all persuasions are a law unto themselves and will stay that way until we change the voting system.

[taxman]

Mmm... Personally, I neither buy oil, nor sell weapons. So by 'we' I take it you mean the government. But since when did any government give a toss about what we think. You may not have noticed but these days governments of all persuasions are a law unto themselves and will stay that way until we change the voting system.

 

I noticed that. I work for them.

[Margarita Ma]

Mmm... Personally, I neither buy oil, nor sell weapons. So by 'we' I take it you mean the government. But since when did any government give a toss about what we think. You may not have noticed but these days governments of all persuasions are a law unto themselves and will stay that way until we change the voting system.

If you buy anything you buy oil by proxy, as if you buy anything unless it is from a market garden that you walk to and from our transport depends on it, even then you may find the market gardener uses machinery for some part of the operation and buys in seed or plant plugs that depend on oil in some way.

[unbeliever]

Mmm... Personally, I neither buy oil, nor sell weapons. So by 'we' I take it you mean the government. But since when did any government give a toss about what we think. You may not have noticed but these days governments of all persuasions are a law unto themselves and will stay that way until we change the voting system.

 

 

You're kidding right?

Plastics, pharmaceuticals, fertiliser, transport and much more.

Most of these things can be made without oil, but at far greater cost.

Don't buy oil my foot!

 

---------- Post added 03-01-2016 at 07:45 ----------

 

Shale oil is a big deal.

 

The production cost for shale oil is about $50/barrel. It's widely available in North America, and soon to start flowing out of China.

The likes of Iran and Saudi can no longer hold the world to ransom and they don't like it. If OPEC tried now to set the price of oil to over $100 as they did a few years back, they'd fail. OPEC is finally breaking.

[JFKvsNixon]

If you buy anything you buy oil by proxy, as if you buy anything unless it is from a market garden that you walk to and from our transport depends on it, even then you may find the market gardener uses machinery for some part of the operation and buys in seed or plant plugs that depend on oil in some way.

 

Then there's the electricity generated by oil, and the byproducts used in everyday life such as plastics, cosmetics, fabrics, cleaning products and medicines.

 

I struggle to see any current alternative to relying upon Saudi, Russia is far to unreliable and their human rights aren't any better and fracking is to expensive and environmentally damaging. The thing is Saudi this and for now that they have us over an oil barrel.

 

Maybe we should invade an oil rich country to secure our supplies - oops that's been tried as well and we all know how that turned out.

[unbeliever]

Then there's the electricity generated by oil, and the byproducts used in everyday life such as plastics, cosmetics, fabrics, cleaning products and medicines.

 

I struggle to see any current alternative to relying upon Saudi, Russia is far to unreliable and their human rights aren't any better and fracking is to expensive and environmentally damaging. The thing is Saudi this and for now that they have us over an oil barrel.

 

Maybe we should invade an oil rich country to secure our supplies - oops that's been tried as well and we all know how that turned out.

 

We don't have to. Shale oil has broken the OPEC monopoly.

[JFKvsNixon]

We don't have to. Shale oil has broken the OPEC monopoly.

 

As I said in the post that you quoted, fracking is currently too expensive and environmentally challenging.

[unbeliever]

As I said in the post that you quoted, fracking is currently too expensive and environmentally challenging.

 

Shale oil costs typical $50/barrel. The current oil price is hovering around $50/barrel because OPEC is engaged in a price war with shale. This is a good thing for anybody not employed or heavily invested in the oil business.

A couple of years ago, the oil price went well over $100/barrel.

 

Shale oil is the reason we're not still paying OPEC's gouging rates for oil.

 

In the context of these figures, in what way is shale oil "too expensive"?

[JFKvsNixon]

Shale oil costs typical $50/barrel. The current oil price is hovering around $50/barrel because OPEC is engaged in a price war with shale. This is a good thing for anybody not employed or heavily invested in the oil business.

A couple of years ago, the oil price went well over $100/barrel.

 

Shale oil is the reason we're not still paying OPEC's gouging rates for oil.

 

In the context of these figures, in what way is shale oil "too expensive"?

 

I've seen figures that quote prices of $60/$100 per barrel to for shale oil to break even, so the current $50 a barrel for shale oil may be being sold at a loss, which will put pressure on any future investment into the sector.

 

It's also worrying that this pressure may lead to the fracking industry cutting safety corners in an effort to cut costs and maintain a profit much like the nuclear industry did in the USA.