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Only in America..

Steve

Well-known member
right now huge swaths of the middle east are in flames..

in the past that would have meant a huge oil shock with each chapter of bad news..

today with the world economy stagnating and private oil ventures pulling out staggering capacity despite Obama's fight against them..

Oil resumes slide with Brent in bear market

“Although the return of significant Libyan production has been an important factor putting downward pressure on the Brent price, weakening global demand, particularly in Europe and Asia, is also important,” the U.S. EIA said in its latest report.

well thankfully Obama's War on Oil is just another of his long list of failures.. :roll: :roll:
 

Brad S

Well-known member
We are facing reduced work in the Bakken because EOG (Enron) has closed off some production due to low price. Cop in Bakken is @ $70, and Bakken oil pays a 17$ basis.
 

hypocritexposer

Well-known member
A few years ago the upheaval in the ME would have had created more pressure on the price of oil...but, because of inovation and development in fracking, it is having less of an impact.

If R and D had have been restricted through higher taxes, as the left was pushing for, you would not have seen such business development in the private sector.
 
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