What if oil prices tumble to $59/barrel?

[Georgesoros]

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Then all bets are off. Drilling will be curtailed in most areas for another maybe 10yrs until prices make a comeback. Some areas like in the Middle East will see a catastrophic downturn in their economies. These monies will flow into other areas; like......
Alternative enegies?

[RV Pundit]

Parkerpen..what is the context of this. Have the prices dropped below 100 dollars.

[RV Pundit]

Okay seem it been slidding. Good news for Oil exporters like us ..bad news for oil producers like Nigeria and Angola.

Look like Saudi attempt to crash the US's shale production...

http://www.nytimes.com/2014/10/14/business/energy-environment/oil-prices-fall-as-opec-members-fight-for-market-share.html?_r=0

[Georgesoros]

Pundit,
I know the four year old is keeping you busy, but stay on top of news bwana. Drilling and explorations will stop if the prices drop to that point. It will become uneconomical, so will Fracking too. Producers will suffer because they cant keep doing it at that level.

[RV Pundit]

Yes the 4 yr old can be handful..she will be 5 yrs next month.Time flies. Anyway Oil will be do just fine. Demand and Supply will sort out the correct prices. Unless we find alternative source of energy to oil..for now oil is safe.

Pundit,
I know the four year old is keeping you busy, but stay on top of news bwana. Drilling and explorations will stop if the prices drop to that point. It will become uneconomical, so will Fracking too. Producers will suffer because they cant keep doing it at that level.

[Olekoima]

Then all bets are off. Drilling will be curtailed in most areas for another maybe 10yrs until prices make a comeback. Some areas like in the Middle East will see a catastrophic downturn in their economies. These monies will flow into other areas; like......
Alternative enegies?

This cannot happen. Most producers will cut production in order to increase demand. This has happened in the pastn thro' OPEC.

[Mr Mansfield.]

Putin is in trouble,Russia economy is already bleeding too much,

Without Prejudice

[RV Pundit]

Russia have build up impressive reserve from their oil. Folks who will bleed are Nigeria and other such countries. Otherwise Saudis,Russia,Norway and such countries keep part of their oil money for the future. For now Russia will just deep into their reserves to smoother oil prices.

Worry about Nigeria.

Putin is in trouble,Russia economy is already bleeding too much,

Without Prejudice

[Mr Mansfield.]

No Russia i the main focus,growth has slowed to 0.7%,inflation is at an all time of 8% while currency is down i think over 20%..they cannot keep propping the currency using the $200BN cash reserves (Rest $250BN in gold and oil funds)..they already wasted $54BN cushioning the economy this year...all this is due to NATO allies sanctions,Now if the FED raises the interest rates after ending tapering this month,global economy will slow down which inturn means commodity n oil prices will fall,economy will slow down,budget cuts and revolution will knock on the door,

Without Prejudice.

[RV Pundit]

Maybe you need to check what is happening in Europe..Italy,France and Germany...are in recession.Russia have sweatheart deals with China..so they are busy building cushions...part of deal with China..including pre-purchase of oil and gas..and the yuan curreny swaps lines worth billions.

And stop regurgitating fed bla de bla..the days when US economy determine the global economy is LONG GONE. Heck why would FED tapering be an issue anymore when US economy has recovered...update your knowledge...tapering was only an issues during 2013..not any more...US economy on it's feet.

No Russia i the main focus,growth has slowed to 0.7%,inflation is at an all time of 8% while currency is down i think over 20%..they cannot keep propping the currency using the $200BN cash reserves (Rest $250BN in gold and oil funds)..they already wasted $54BN cushioning the economy this year...all this is due to NATO allies sanctions,Now if the FED raises the interest rates after ending tapering this month,global economy will slow down which inturn means commodity n oil prices will fall,economy will slow down,budget cuts and revolution will knock on the door,

Without Prejudice.

[Mr Mansfield.]

Nonsense.....you still have scattered not uniform knowledge like back in the days,check this post six months from now and if am wrong ill give you $10,000,

Without Prejudice.

[Georgesoros]

Prices might settle mid $70s.

[Olekoima]

Prices might settle mid $70s.

I though so.