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Economy

Llllllithuania is joollining the Eurozone in a few days, after Estonian and Latvia recently joined.

oh wait i searched up. this is old news. i cant add that :toofunny:

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Woolfsmck

i dont think its just a "smoke screen". Its true neither the US and Saudi Arabia are fans of Russia or Iran and that may encourage them to push for low prices

But we have an oversupply atm so prices would have fallen regardless. And OPEC has good reasons not to have cut production seeing as they have a smaller market share than they used to and if they cut production they would simply support prices for booms elsewhere and loose even more market share

I believe the whole killing Russias economy incentive is just a cherry on the top. OPEC still wouldnt have cut production regardless of Russia and the energy boom in North America is also irrelevant.

For simple market and economic interests, prices of crude would have fallen regardless :shrug:

i think you have a good understanding of global economics ... The Saudi's in the past would cut production to get higher prices, but realized this forced the market to look for and develope alternate supply sources diminishing their over all influence on the market. Keeping their supplies steady squeezes the upstart competitors more than established producers.
like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true

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Jonna Lee

omg not so many greaat countries being lost to the eurozone :messga:

i like it when u treat me mean it turns my mood from black to blue

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Economy

i think you have a good understanding of global economics ... The Saudi's in the past would cut production to get higher prices, but realized this forced the market to look for and develope alternate supply sources diminishing their over all influence on the market. Keeping their supplies steady squeezes the upstart competitors more than established producers.

yeah. like OPEC used to supply 2/3 of the worlds oil at one point. Now that number has fallen down to 30%

 

So first of all, in order to get the same effect, they would have to cut production more than they did in the past in order to have the same effect on prices since they make up a smaller percentage of worlds supply than before

 

Secondly, the energy booms in North America + Brazil which played a part in the current oil glut, would only be supported further with higher prices and OPEC would end up loosing even more of the worlds market share

 

In the past it was always in OPECs best interest to cut production a little to drive up prices... But circumstances have changed and they have less power. Its no longer worth it for them to try to manipulate the market cause they will only be hurting themselves. So OPEC chose this time they werent going to cut production and I can see why

Edited by Economy

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Miker

I really hated OPEC and the way they used to manipulate the world money markets by price fixing. I would like them to lose even more of the world oil market share than they have.

Mars..........or bust!

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Economy

I really hated OPEC and the way they used to manipulate the world money markets by price fixing. I would like them to lose even more of the world oil market share than they have.

with the energy booms going on outside OPEC if they cut production they would prop up prices, encourage more production and they would loose even more market share

They are no longer in a position to try to manipulate prices

Their "strategy" to try to squeeze out shale and oil sands producers is more desperation than anything else because they have no other Options

By continuing production to fight for market share, they are now being swayed hy the free market and behaving as a private company would. The free market is playing them, they are no longer the ones playing the free market :coffee:

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Woolfsmck
I really hated OPEC and the way they used to manipulate the world money markets by price fixing. I would like them to lose even more of the world oil market share than they have.
i agree , but alternative oil supplies are even worse..Iran , Russia, Iraq, ect.... 8-/
like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true

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Computer

I was starting to think I would never hear bad news out of North Dakota :sick:

💚💛💕❣⭕💢💢 | ⓜⓔⓡⓡⓨ ©ⓗⓡⓘⓢⓣⓜⓐⓢ

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Economy

I was starting to think I would never hear bad news out of North Dakota :sick:

i dunno if i fully agree with the article... North Dakota has the lowest cost producers of shale so activity/investment there shouldnt slow down as much as in other places

Then again, their economy has grown so much from the energy sector

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Economy

i agree , but alternative oil supplies are even worse..Iran , Russia, Iraq, ect.... 8-/

ok Canada has the worlds 3rd largest reserves at 170 billion barrels and they estimate new technologies soon could raise recoverable reserves up to 315 billion barrels

But our boom is slower than its full potential thanks to the lengthy process of pipeline approvals

Environementalists slow down growth in the only stable, ethical and reliable Country to be among the top in reserves :MANiCURE:

Edited by Economy

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Luc

ok Canada has the worlds 3rd largest reserves at 170 billion barrels and they estimate new technologies soon could raise recoverable reserves up to 315 billion barrels

But our boom is slower than its full potential thanks to the lengthy process of pipeline approvals

Environementalists slow down growth in the only stable, ethical and reliable Country to be among the top in reserves :manicure:

Honestly, all oil and gas will at some point be used - whether it be 2050 or 2200, which means that the CO2 emission will at some point happen, and that in the very long term there's no real benefit of lowering CO2 emission so much besides giving animals and plants more time to evolve along with the changing climate.

 

 

omg not so many greaat countries being lost to the eurozone :messga:

There's a reason they got into the Eurozone, and that is that investors trust Eurozone countries more than other countries (lower interest rate, higher credit rating), they'll be more powerful in Europe (don't all countries have veto for important decisions in the eurozone?), it gives an anti-Russia statement (useful in the current 'war'), and the countries will be more attractive for businesses and tourists because there's no more exchange rate and it will be cheaper to go from Euro to their valuta and back (no extra fees for that).

 

For imports and exports it doesn't even matter, considering their valutas were already taped along with the Euro (if the Euro went up 0,11585%, so did their valuta - talking about Baltic states). So they're not really losing anything with this step.

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Economy

Honestly, all oil and gas will at some point be used - whether it be 2050 or 2200, which means that the CO2 emission will at some point happen, and that in the very long term there's no real benefit of lowering CO2 emission so much besides giving animals and plants more time to evolve along with the changing climate.

 

well, if u burn it over a period of 200 years it would do less damage than if it was burned in 50 years simply because a slkower changing climate would gives plkants and animals more time to adjust...

 

Also the Earth cleanses itself so in a longer span of time, the Earth could clean a higher percentage of CO2 emmissions than if its burned all at once

 

But my point is the world is consuming oil... and i hate to sound cocky... but of the top oil producers/exporters and top reserves Canada is the best to get from...

 

Were politically stable so wed never risk getting supplies cut off for stupid political non-sense, were an ethical free country not a regime that opresses its people so customers wouldnt be supporting some evil dictatorship

 

But environmentalists fight Canada and US oil industry cause its all they can target. The rest of the major producers are filled with Government owned companies run by Government who dont listen to their peoples opinions and they know they cant do squat so we have to put up with all the noise :shrug:

Edited by Economy

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Woolfsmck

ok Canada has the worlds 3rd largest reserves at 170 billion barrels and they estimate new technologies soon could raise recoverable reserves up to 315 billion barrels

But our boom is slower than its full potential thanks to the lengthy process of pipeline approvals

Environementalists slow down growth in the only stable, ethical and reliable Country to be among the top in reserves :manicure:

I am with the pro Canadian oil group as well, its closer, Canadian radicals usually means they had too many Labatts last nite and nobody gets killed. Hurrrumph to the enviromentalists...8-/
like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true

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Economy

I am with the pro Canadian oil group as well, its closer, Canadian radicals usually means they had too many Labatts last nite and nobody gets killed. Hurrrumph to the enviromentalists...8-/

ikr?

 

I hate to sound cocky but who are the other Countries in the top 10 in reserves that have lots of time of oil left? Lets look at the top 10 Countries by proven and recoverable oil reserves in order

 

#1 Venezuela

#2 Saudi Arabia

#3 Canada

#4 Iran

#5 Iraq

#6 Kuwait

#7 UAE

#8 Russia

#9 Lybia

#10 Nigeria

 

Besides Canada, everyn single other Country in this list i can think of something seriously wrong with them whether it be in terms of political instability, terrorism threats (Lybia just had a major oil attack) or they are lacking in human rights whether it be to women, LGBT or human rights in general

 

Every single Country in the list besides Canada has at least 1 major ethical issue i listed above. So why is getting oil from Canada so bad?

 

On the other hand there is a lot of division within Canada. 2/3 of the main Federal Parties dont even support oil sands developement

 

And even tho the one currently in power does support it, many Provincial Governments do not. For instance The Federal Government approved Northern Gateway to bring oil to the pacific and ship it to Asia. But Because British Columbia refuses to approve the construction permits in their land until their conditions are met, The Federal Government cant do anything about it

 

Energy East to bring it all the way to Eastern Canada also has to cross 4 Provinces and likely at least 1 wont approve it. And thats not counting individual environmentalists who legally challange everything. :fail:

Edited by Economy

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Luc

Minimum wage of 8.50€ in Germany from today on! This will probably make Germany more attractive for east-European immigrants, and have a positive effect on my country because there'll be less east-European immigrants, which will result in less seats for populist parties :laughga:

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