Schwab: Oil Plunge Is Positive For US Economy, Stocks - Business Insider
just like what I said China and America r Yin Yang on the Pacific Rim - "the seemingly contradicting powers r interdependent and give rise to each other."
How is the Ukraine-Russian conflict affecting oil prices? The West are sanctioning specific sectors, companies and Russian personalities but they are not controlling World oil prices.
As usual, tunnel vision. The West (EU and US) are laughing all the way this Christmas, together with the rest of net energy consumers in the World, on depressed oil prices. The only ones crying are oil producing countries and multinational energy companies.
By wanting to 'punish' Russia, the West along with Saudis have gone into an overdrive to cut prices. It is rock bottom these days.
Oil is a 'weapon of war', OPEC is dominated by the Saudis and US controls the Saudis. Once there is no control of oil production, there will be a glut in the market and the prices will drop QED.
Who lose with the glut?
This is pure speculation. There's no proof that Saudi's and Americans are coordinating to punish Russia. Maybe on the part of Saudi they may be targeting Iran.
Iraq is an OPEC country...
Haven't you considered that the worst hit by the declining oil prices is Iraq? They have to pump oil because they desperately need money more than the otehr OPEC countries.
The rise of Canadian and American shale oils have vastly eroded the power of OPEC to dictate World oil prices. Besides, I don;t think the Saudi's are completely under the control of the Americans (reminds me of the 70's oil shock by OPEC).
And all oil producing countries and private energy companies (a lot of them are American companies).
Sir, EU is laughing all the way to Christmas because lower oil prices means plus for European balance of account and Billions of Euros in savings to European consumers and non-energy companies, which translates to more disposable money, which translates to more consumer spending which is good for business.
Speculation for those who are myopic about the world and unidirectional.
Speculation for those who are myopic about the world and unidirectional.
As expected, another ad hominem. It is always better to be honest, especially when you are wrong.
You have to study more the US energy business, in particular the entrepreneurial shale drillers. They are not being controlled by the US government.
The US economy is in shambles and it is the only developed economy that is able to increase its GDP this year... I suggest you read more on this.
In case you don't know, China is the biggest beneficiary of the Iraq War and Iraqi oil... But yes oil has always been the major reason for the US invasion of Iraq, that's why there was massive opposition then against it, especially in our country.
U.A.E. Sees OPEC Output Unchanged Even If Oil Falls to $40 - Bloomberg
we find only Indian Rupees strong at present :ranger:
If US can impose anti dumping duty on Chinese solar panel companies then why can't they do the same on oil imports? Why can't US Govt. help shale oil companies by imposing huge tax on oil imports and using that money for subsidising petroleum products? That will help shale oil companies without causing problems to consumers.
That would be against trade agreements. The US is only able to impose duties on Chinese solar panels is because the Chinese government is subsidizing its solar manufacturers to have an unfair advantage against US private solar manufacturers.There's no similar charge of dumping on oil imports to the US. Besides, I don't think it's in US' long term interest to be subsidizing oil producers.
I regret that quite a few do not understand the meaning of English words and instead gives in to their insecurity by stating that it is 'ad hominem'
Why Saudi is selling oil at lower rate to US compared to rate at which they sell oil to Asian countries? This discount is the main reason why US WTI crude is trading at lower rate compared to brent crude. I never support subsidising petroleum products using tax payers money. But what is wrong with subsidising petroleum products using extra tax earned from oil imports?
