Saudis want Oil at $70.00

avb3 · #1 08-19-2011, 12:59 PM

Very interesting study by a U of A researcher who quotes a Saudi oil rep saying that if oil is kept at $70, then the west would not be inclinded to develop alternative energy sources.

Article in the Science Daily here

Fisherpeak · #2 08-19-2011, 04:52 PM

Well that`s gotta be B.S because OPEC wants to curtail production if oil hits 80$ a barrel.

boone052 · #3 08-19-2011, 08:06 PM

Would that be so bad for m e; the average consumer? prices at the pump would surely be lower at $70/barrel than at $100/barrel?

hal53 · #4 08-19-2011, 08:14 PM

Quote:

Originally Posted by Fisherpeak

Well that`s gotta be B.S because OPEC wants to curtail production if oil hits 80$ a barrel.

HUH?????...this entire world would be better off, if we got rid of Wall Street and their so called investors and speculators that run and hide every time CNN in their infinite wisdom broadcast another story from a "reliable" source"....and oh yeah , cancel CNN's broadcast license as well. You guys don't like the boom and bust cycle????... get rid of depending on oil from 3rd world uneducated dictators...don't blame the oil companies. they get paid for their oil what the world market dictates.......

tonyflyfish · #5 08-20-2011, 10:22 AM

Hopefully you were not referring to the Saudis as third world uneducated.......they have highly educated persons but I personally think the Saudis still take direction from Uncle Sam.

I personally wish that Canada would use their "weight" in this global market but we to seem to be at the mercy of the Americans.
Do you think the Americans would have invaded Iraq if they were the seconde largest export of carrots?

I am excited that the Chinese are interested-that would create a market!

just personal thoughts.

T

Big Daddy Badger · #6 08-20-2011, 11:21 AM

Sure.

Anybody want to buy a bridge?
It in a prime location right in the middle of London England.

The only reason that this might be considered would be to allow them to dominate the alternative energy market cause all they have once the oil is gone is sand, corrupt oppressive government and an increasingly irritated citizenry.

jackz · #7 08-20-2011, 11:23 AM

Quote:

Originally Posted by tonyflyfish

Hopefully you were not referring to the Saudis as third world uneducated.......they have highly educated persons but I personally think the Saudis still take direction from Uncle Sam.

I personally wish that Canada would use their "weight" in this global market but we to seem to be at the mercy of the Americans.
Do you think the Americans would have invaded Iraq if they were the seconde largest export of carrots?

I am excited that the Chinese are interested-that would create a market!

just personal thoughts.

T

Canada is listed sixth as worlds oil producers with Russia first !

32-40win · #8 08-20-2011, 12:04 PM

The oilfield well service companies are on a buying spree at present, where they are going to work what they are buying, is something of a mystery yet, but a lot has been going to the US to work down there. The fabricators are going to be a happy bunch for the next year or two. One source say they are short 1000 cementers for what is needed. We are back to 2004-2006 levels on booked builds at present.

winged1 · #9 08-20-2011, 12:45 PM

Alternate energy is a long way off, anything that's going to compete with oil. China is a huge investor in Canadian oil. For the US, it's not about dirty oil, but about dirty funding.

Grizzly Adams · #10 08-20-2011, 01:25 PM

Quote:

Originally Posted by tonyflyfish

Hopefully you were not referring to the Saudis as third world uneducated.......they have highly educated persons but I personally think the Saudis still take direction from Uncle Sam.

I personally wish that Canada would use their "weight" in this global market but we to seem to be at the mercy of the Americans.
Do you think the Americans would have invaded Iraq if they were the seconde largest export of carrots?

I am excited that the Chinese are interested-that would create a market!

just personal thoughts.

T

Saudis are the closest thing to a friend the West has among the Arabs.

The big reason we overlook all their foibles, like supporting the extreme religious schools in Pakistan, which breed Haters of western culture and their country's Human Rights record. Vicious circle, with no way out.

Grizz

NoKlu · #11 08-20-2011, 09:14 PM

The Saudis need 52 a barrel just to cover costs. They built an extravagant production and distribution system that controls every drop of oil from one room. It costs them $2 to get it out of the ground and the system costs them $50.

Tikka300 · #12 08-20-2011, 09:20 PM

Would be nice if Canada put the choke on the states a bit... Especially when they get on their dirty oil kick. Just close the valve half way and see what happens. Guaranteed if the states doesn't want it there are other markets out there.

hal53 · #13 08-20-2011, 09:21 PM

^^^ HUH????,,, this thread may have to be changed to another forum....$ 50 a Bbl. to run????? hope u are not serious....

hal53 · #14 08-20-2011, 09:29 PM

OK...... before I give up on this nonsense,,, can anybody here tell me how much oil daily the US imports from
1) Afghanistan
2) Iran
3) Iraq
4) Canada
5) Russia
intersted in hearing the responses.....

NoKlu · #15 08-20-2011, 09:34 PM

I saw a documentary on Saudi oil last year and that was the claim. Every drop of oil is controled by this room. From the second is comes from the well,untill the time it's loaded on ships, it's movement is tracked and managed by this system. Every well, pipeline, and refinery in Saudi is wired in. To cap it off,almost everything in the room ,including the bathrooms, is gold.

NSRfishing · #16 08-20-2011, 09:39 PM

usa Crude Oil and Total Petroleum Imports Top 15 Countries

Crude Oil Imports (Top 15 Countries)

CANADA

SAUDI ARABIA

MEXICO

Total Imports of Petroleum (Top 15 Countries)

CANADA

SAUDI ARABIA

MEXICO

http://www.eia.gov/pub/oil_gas/petro...nt/import.html

i showed that list to an american he could not beleive it he thought iraq was number one source of oil he did not know canada was a oil exporting country

ganderblaster · #17 08-20-2011, 09:51 PM

Doesn't it take like four litres of gas to make one litre of ethanol or something? I says let em at it good for business.

nanuk-O-dah-Nort · #18 08-21-2011, 01:30 AM

Quote:

Originally Posted by tonyflyfish

Do you think the Americans would have invaded Iraq if they were the seconde largest export of carrots?

T

Yes.... I believe they would have

Gonehuntin' · #19 08-21-2011, 08:19 PM

Quote:

Originally Posted by Tikka300

Would be nice if Canada put the choke on the states a bit... Especially when they get on their dirty oil kick. Just close the valve half way and see what happens. Guaranteed if the states doesn't want it there are other markets out there.

True.If the U.S. doesn't want it someone else does.however-they have "dibs" on as much or as little of our wonderful, ethically produced,North American oil/gas that they want.They are our largest,closest (both geographically and culturally), most valuable market currently. It's been American investment dollars that have developed a huge part of "our" oilfield industry.

There will be no touching of "the valve", no pinching it back.There are some anti "dirty oil" idiots getting a lot of press, but they are just a dry fart, all noise, no substance.Do you really think that our oil reserves are in any danger of not seeing the U.S. market?Our oil happens to be neither "dirty" nor worse, bloody. You may notice many panty waisted whining Euro trash lib types (as well as American) decrying our oil as dirty, as they fill up with oil products produced in places like Libya, Sudan, etc.Hypocrites.As they fill up with factually bloody and dirty oil.These places have no where near the environmental regs and responsibilities we do here.Let alone the crimes perpretrated b
y some of the tinpot dictators and gov'ts that they buy oil products from.They have some nerve to talk trash about our industry and products.

IMO there are other markets for our hydrocarbon products.We should look to deveoping more customers, yes, but let's not forget the U.S., our greatest ally and friend in the world.As they go, we go.

WCTHEMI · #20 08-21-2011, 09:08 PM

That makes no sense, when you are selling anything, is the idea not to get as much money as you can for it? I question the reliablity of the source of that quote greatly.

avb3 · #21 08-21-2011, 09:44 PM

Quote:

Originally Posted by WCTHEMI

That makes no sense, when you are selling anything, is the idea not to get as much money as you can for it? I question the reliablity of the source of that quote greatly.

The source came from a researcher right here at the U of A. And published in a credible scientific paper.

BeeGuy · #22 08-22-2011, 12:17 AM

Quote:

Originally Posted by NoKlu

The Saudis need 52 a barrel just to cover costs. They built an extravagant production and distribution system that controls every drop of oil from one room. It costs them $2 to get it out of the ground and the system costs them $50.

This is a ridiculous statement.

Please provide a source.

IR_mike · #23 08-22-2011, 01:42 AM

Quote:

Originally Posted by BeeGuy

This is a ridiculous statement.

Please provide a source.

Yup dirty alberta crude dont even cost that.....total bs.

NoKlu · #24 08-22-2011, 12:14 PM

Quote:

Originally Posted by BeeGuy

This is a ridiculous statement.

Please provide a source.

You don't know it to be true so it's ridiculous? I told the source in the post. If you don't believe it don't be so lazy and look it up for yourself. Prove me wrong.