North Sea oil companies "close to collapse"

jjlandlord

pop_gun wrote: »

But in time the U.S. will weaken Russia financially and incentivize China to allow them to invade Iran.

"Invade Iran": That's not unrealistic, that's madness.

cells

They are pleading poverty to con the government and the public. Inflation adjusted crude brent prices in dollars since 1990


1990 23.73
1991 20.00
1992 19.32
1993 16.97
1994 15.82
1995 17.02
1996 20.67
1997 19.09
1998 12.72
1999 17.97
2000 28.50
2001 24.44
2002 25.02
2003 28.83
2004 38.26
2005 54.52
2006 65.14
2007 72.39
2008 97.26
2009 61.67
2010 79.50
2011 111.26
2012 111.67
2013 108.66

note the 1990s price of $20...they expanded production and did a lot of investment with $20 oil as their assumption. Only since 2007 has oil got expensive. Hopefully we are returning to the normal that was $20-50 which held true for pretty much a hundred pre 2005

Thrugelmir

pop_gun wrote: »

Oil prices are artificially low because the U.S. has asked Saudi Arabia to pump more oil in a bid to collapse the Russian economy. So far it's working as the Russian central bank has twice raised rates, from 9.5% to 10.5% and now 17%. The U.S. is doing this partly because of the troubles in Ukraine, but mostly to pave the way for military action in Syria and then Iran.
China and Russia oppose intervention in Syria and Iran.

If Russia's foreign reserves can hold out, internal political pressure within America and Saudi Arabia will force them to abandon this phase of the oil manipulation.

The Saudi's are at at risk as well. As they need the American market.

Venezuela, Iran and Nigeria require higher oil prices than Russia.

Graham_Devon

99p a litre for petrol soon though!

Quite bizzare that there appears to be a furore brewing now though over fuel tax. As the price of fuel drops, the perentage take in tax increases.

We will be running at 72% tax if petrol falls to 99.9p a litre. Although we will be paying less for a tank of fuel, some believe that the anger over such a high percentage level of tax may force a reduction with an election looming.

Jersey are now selling a litre of Petrol for 98p a litre.

Thrugelmir

Graham_Devon wrote: »

some believe that the anger over such a high percentage level of tax may force a reduction with an election looming.

Which political party is making the noise?

Joe_Bloggs

Pop gun said:-

It will happen. The U.S. can't do it just yet, because of the opposition from Russia and China. But in time the U.S. will weaken Russia financially and incentivize China to allow them to invade Iran.

Iranian forces are working within Iraq to conduct air raids against ISIL Iran is also pro Assad .
http://www.nytimes.com/2014/12/04/world/middleeast/iran-airstrikes-hit-islamic-state-in-iraq.html?_r=0

I think the US is more likely to invade Canada than take over Iran again.
J_B

carslet

99p a litre is great news, lets hope it comes and stays for a good few years.

ruggedtoast

pop_gun wrote: »

It will happen. The U.S. can't do it just yet, because of the opposition from Russia and China. But in time the U.S. will weaken Russia financially and incentivize China to allow them to invade Iran.

More likely to happen through their proxy military base in the region (Israel) than under an American flag. The Americans dont really want to occupy Iran, and after Iraq probably can't anyway; but bombing it back to a pre-industrial state periodically would suit them fine.

They no longer need its oil, they just need it not to use its own supplies to undermine their control of OPEC.

pop_gun

ruggedtoast wrote: »

More likely to happen through their proxy military base in the region (Israel) than under an American flag. The Americans dont really want to occupy Iran, and after Iraq probably can't anyway; but bombing it back to a pre-industrial state periodically would suit them fine.

They no longer need its oil, they just need it not to use its own supplies to undermine their control of OPEC.

I agree Israel could act as a proxy, but that doesn't explain why the U.S. wants to destabilise Syria. The only explanation is to prepare for a military invasion of Iran.

I disagree, the U.S. does want Iranian oil. It wants the oil to be traded in dollars, which it isn't at present. The U.S. (N.A.T.O.) assassinated colonel Gaddafi because he was going to create a gold backed dinar for oil exports. Saddam Hussein began trading Iraqi oil in euros, so had to go.

Without the petrodollar the U.S. would lose it's world reserve currency status and it's deficits would overwhelm it.

War with Iran is a certainty.

cells

pop_gun wrote: »

I agree Israel could act as a proxy, but that doesn't explain why the U.S. wants to destabilise Syria. The only explanation is to prepare for a military invasion of Iran.

I disagree, the U.S. does want Iranian oil. It wants the oil to be traded in dollars, which it isn't at present. The U.S. (N.A.T.O.) assassinated colonel Gaddafi because he was going to create a gold backed dinar for oil exports. Saddam Hussein began trading Iraqi oil in euros, so had to go.

Without the petrodollar the U.S. would lose it's world reserve currency status and it's deficits would overwhelm it.

War with Iran is a certainty.

The USA doesn't need ME energy it is a coal exporter and soon a big NG exporter and its foreign oil needs have been much lowered (most its foreign oil imports are now from canada and Mexico not the ME and Africa)

Also if the USA wanted to !!!!! slap nations to take their resources Africa is vast and very very poor they could buy/bribe/take over half that continent at half the effort and twice the return.

also USA is slowly switching from oil to NG where it can. Eg building are switching to much cheaper NG from heating oil. Some larger distribution and train companies are doing the same. If Boeing pushes its LNG aircraft into commercial production all domestic flights could swich from JetA fuel to LNG at a fraction of the cost of oil.