The 1973 oil embargo was over US help to Israel during the Yom Kippur war.GoIllini wrote:We threatened that in the '70s and they embargoed us.
The 1973 oil embargo was over US help to Israel during the Yom Kippur war.GoIllini wrote:We threatened that in the '70s and they embargoed us.
dorlomin wrote:The 1973 oil embargo was over US help to Israel during the Yom Kippur war.GoIllini wrote:We threatened that in the '70s and they embargoed us.
Does it now.GoIllini wrote:No, what I'm saying is the fact that Saudi Arabia is a swing producer keeps oil prices about $5 higher than they otherwise would be-
Yes, I am sure it was.GoIllini wrote:And also the nationalizations of US oil company assets and the decline of the USD. It was a dare by OPEC to invade them.
dorlomin wrote:Does it now.GoIllini wrote:No, what I'm saying is the fact that Saudi Arabia is a swing producer keeps oil prices about $5 higher than they otherwise would be-
So if the price is higher than it should be, buyers would drop out of the market because they cannot afford it. The oil price is set by what consumers are prepared to pay. If you dont want to pay a price for oil but another consumer does, the market shifts the supply there. If no one wants to pay that price a glut builds up and people have to supply at a lower cost to entice a buyer into the market.
That buyer maybe a tupperware box, an airtravel ticket or petrol at the station.
dorlomin wrote:Yes, I am sure it was.GoIllini wrote:And also the nationalizations of US oil company assets and the decline of the USD. It was a dare by OPEC to invade them.
No it wouldn't.GoIllini wrote: Back then, we knew an invasion of Saudi Arabia would have meant war with Russia.
dorlomin wrote:No it wouldn't.GoIllini wrote: Back then, we knew an invasion of Saudi Arabia would have meant war with Russia.
You dont even realise that you are just making this up. From a mush of half understood history of Soviet support for Egypt you have baked a fairy tale of Soviets being prepared to intervene in Saudi.GoIllini wrote:dorlomin wrote:No it wouldn't.GoIllini wrote: Back then, we knew an invasion of Saudi Arabia would have meant war with Russia.
Of course it did. And a war on two fronts. And international condemnation. They were backing a lot of these regimes while we were backing Israel.
dorlomin wrote:You dont even realise that you are just making this up. From a mush of half understood history of Soviet support for Egypt you have baked a fairy tale of Soviets being prepared to intervene in Saudi.GoIllini wrote:dorlomin wrote:No it wouldn't.GoIllini wrote: Back then, we knew an invasion of Saudi Arabia would have meant war with Russia.
Of course it did. And a war on two fronts. And international condemnation. They were backing a lot of these regimes while we were backing Israel.
Cog wrote:I can't believe you let a cornie troll take you down a 3 page thread. The whole concept of Saudi selling oil at $50, because we want them to, is retarded in the extreme.
Shame on you guys for not calling him out earlier.
SeaGypsy wrote:Not if you keep track of the conversation on here. The USA's situation could really be a hell of a lot worse. Many regulars here have accepted that the USA/ rest of the world/ is not going down the toilet next week because of peak oil. The situation is fluid and dynamic, reflected in an adult conversation on the subjects involved.
Heads in the sand here we go again...salute from heaven....
As opposed to the OP which is basicly flat out trollery.
thisisit wrote:eXpat wrote:thisisit wrote:The fact remains that I don't care about Saudi's neither do you, so let's not extrapolate how they could accept to sell their oil at 50 or 35...I am beeing generous when I offer a 50 dollar target...I'd rather get it free and when I say free I mean free I only presume they would find it a right price at 50 in their infinit kindness...
How would you do that? Threaten then with nukes?
I have the answer to your question but I'm afraid it is a defense security matter, my hope is intelec in the decision office find it by them self...I suppose they are smart enough,...
ian807 wrote:And short of seizing their entire country as well as all their other customers willing to pay more, how would such a thing be enforced?
GoIllini wrote:We tried that in the 70s. Back then, they only had to spend a few hours in line. Given that we import much more of our oil today and that you've just priced the Bakken Shale out of production, try more like days instead.
The best solution to high oil prices... is high oil prices. High oil prices get people to buy smaller cars, get oil companies to drill more places (like the Bakken Shale) and bring more to market, and ultimately force the price of gasoline (or a replacement energy) back down.
Cog wrote:I can't believe you let a cornie troll take you down a 3 page thread. The whole concept of Saudi selling oil at $50, because we want them to, is retarded in the extreme.
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