Economy 53,088 Posted December 11, 2016 Share Posted December 11, 2016 https://www.google.ca/amp/www.cnbc.com/amp/2016/11/30/leaner-and-meaner-us-shale-greater-threat-to-opec-after-oil-price-war.html The private sector has innovated during the oil price crash to survive and it has improved technologies and techniques to lower cost of producing oil permanently In Canada Oil Sands production used to cost over $70/barrel and now costs vary from $30 to $45/barrel In USA Fracking shale used to cost $80/barrel and depending on the region it now costs $25 to $40/barrel Simply put, North America can withstand lower prices now than OPEC and they have cracked (why they finally gave up on price war and agreed to produce less oil for higher prices). North America will also prevent prices from ever getting too high in foreseable future Link to post Share on other sites More sharing options...
DrewStevens 5,249 Posted December 11, 2016 Share Posted December 11, 2016 Interesting. Wasn't Russia trying to sabotage Germany? Link to post Share on other sites More sharing options...
DeanWinchester 41,390 Posted December 11, 2016 Share Posted December 11, 2016 OPEC had waaay too much control for so long. It's about damn time. Flyin' like a 1000 Doves Link to post Share on other sites More sharing options...
Fatigay 21,232 Posted December 11, 2016 Share Posted December 11, 2016 Still the price everyone pays hasn't dropped Link to post Share on other sites More sharing options...
Economy 53,088 Posted December 11, 2016 Author Share Posted December 11, 2016 1 minute ago, thierryrreiht said: Still the price everyone pays hasn't dropped What? How old are u??? when i started driving gas prices were at least 30% to 40% higher than they are now Link to post Share on other sites More sharing options...
melodichard 3,769 Posted December 11, 2016 Share Posted December 11, 2016 2 minutes ago, Economy said: What? How old are u??? when i started driving gas prices were at least 30% to 40% higher than they are now lol I know right. It's so cheap now compared to when I was in high school Link to post Share on other sites More sharing options...
Morphine Prince 109,926 Posted December 11, 2016 Share Posted December 11, 2016 7 minutes ago, thierryrreiht said: Still the price everyone pays hasn't dropped Where do you live? Where I live the prices are $1 something or $2 something. Back in like 2008-10 they were like $3.50 and even close to $4 In other states $5!! Link to post Share on other sites More sharing options...
MarryTheKnight 2,181 Posted December 11, 2016 Share Posted December 11, 2016 Canada & the US be like Link to post Share on other sites More sharing options...
Radio Ga Ga 5,671 Posted December 11, 2016 Share Posted December 11, 2016 8 minutes ago, MarryTheKnight said: Canada & the US be like Im like picturing Us and Canada like gaga in GUY video shooting money at Russia and OPEC and then killing them in their offices Link to post Share on other sites More sharing options...
Luc 4,776 Posted December 11, 2016 Share Posted December 11, 2016 19 minutes ago, Morphine Prince said: Where do you live? Where I live the prices are $1 something or $2 something. Back in like 2008-10 they were like $3.50 and even close to $4 In other states $5!! in the Netherlands it's €1.70 per litre atm that's €6,44 per gallon. Under normal EUR:USD rates (1:1,40 like in early 2014, aka pre-Draghi) that would equal $9 I think I'm glad about this. It puts some extra pressure on regimes like Russia and Venezuela. Scared for Saudi Arabia's future though they're pretty much the most important country in the Middle East. Link to post Share on other sites More sharing options...
Economy 53,088 Posted December 11, 2016 Author Share Posted December 11, 2016 2 minutes ago, Luc said: in the Netherlands it's €1.70 per litre atm that's €6,44 per gallon. Under normal EUR:USD rates (1:1,40 like in early 2014, aka pre-Draghi) that would equal $9 I think I'm glad about this. It puts some extra pressure on regimes like Russia and Venezuela. Scared for Saudi Arabia's future though they're pretty much the most important country in the Middle East. Thats a crazy price for gas And im glad too. For starters it doesnt mean the death of the oil industry in my Country as i feared. Our oil was simply so expensive Actually even with the drop in costs, its still among the most expensive. Deep Sea Drilling is probably the only more expensive one As for Saudi, more pressure to get women working so they can be productive! Link to post Share on other sites More sharing options...
StarstruckIllusion 53,671 Posted December 11, 2016 Share Posted December 11, 2016 Whew we did that 👏 Russia is evil. 👏 Catch these Canadian hands 👏🇨🇦👏 Link to post Share on other sites More sharing options...
Luc 4,776 Posted December 11, 2016 Share Posted December 11, 2016 8 minutes ago, Economy said: Thats a crazy price for gas And im glad too. For starters it doesnt mean the death of the oil industry in my Country as i feared. Our oil was simply so expensive Actually even with the drop in costs, its still among the most expensive. Deep Sea Drilling is probably the only more expensive one As for Saudi, more pressure to get women working so they can be productive! Well the thing with Saudi Arabia's regime is that they're more progressive than the people living in the country the Saudi royal family is actually really liberal (look at what they do in foreign countries: partying, drugs, sex, etc.) compared to the country. In a country like Russia, however, 'family values' were forced on a moderately progressive, atheist population by the government. All in all I think Saudi Arabia's government is better, because in relation to their population they try to be as progressive as possible without having some kind of Islamic revolution (like in Iran) happen. Putin tries to be as conservative as possible in relation to their population. but yeah basically all oil-producing countries are eternally screwed up capitalism wins again I guess and yeah the price is crazy but let's remember that here it's already considered far away if you take more than an hour to commute to work. The distance between the two biggest cities here (Rotterdam and Amsterdam) is probably smaller than two random rural Utah towns. Link to post Share on other sites More sharing options...
Morphine Prince 109,926 Posted December 11, 2016 Share Posted December 11, 2016 19 minutes ago, Luc said: in the Netherlands it's €1.70 per litre atm that's €6,44 per gallon. Under normal EUR:USD rates (1:1,40 like in early 2014, aka pre-Draghi) that would equal $9 I think I'm glad about this. It puts some extra pressure on regimes like Russia and Venezuela. Scared for Saudi Arabia's future though they're pretty much the most important country in the Middle East. Those prices Link to post Share on other sites More sharing options...
Fatigay 21,232 Posted December 11, 2016 Share Posted December 11, 2016 1 hour ago, Economy said: What? How old are u??? when i started driving gas prices were at least 30% to 40% higher than they are now 1 hour ago, Morphine Prince said: Where do you live? Where I live the prices are $1 something or $2 something. Back in like 2008-10 they were like $3.50 and even close to $4 In other states $5!! I'm from Montreal, and the highes we got is $1.39 in like 2008. now it's like $1.05-$1.20 Link to post Share on other sites More sharing options...
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