Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on July 22, 2016

Bookmark and Share

Saudi Arabia Declares Cease-Fire in Oil War

Saudi Arabia Declares Cease-Fire in Oil War thumbnail

The new Saudi oil minister, Khalid Al-Falih, says the oil glut is over. That means the kingdom’s war against U.S. shale producers is coming to an end, too. Who won it is a tough question to answer; on balance, it’s probably the Saudis, but they have paid a huge price, and the surviving U.S. frackers have also benefited.

In September 2014, Saudi Aramco, the kingdom’s state oil company, simultaneously increased output and discounts to Asian customers, making it difficult for producers with higher costs to compete. The U.S. shale industry responded with desperate bravado, cutting costs, perfecting technologies and pumping like crazy to avoid defaulting on its debts. Yet, according to Haynes and Boone’s Oil Patch Bankruptcy Monitor , 81 North American oil and gas companies have filed for bankruptcy since the beginning of 2015. In Texas alone, there have been 41 bankruptcies, representing $24.3 billion in debt.

As a result, U.S. oil production has declined to late 2014 levels, while Saudi Arabia has defended and indeed increased its market share. Last year. it maintained its export volume to the U.S., while sales to China grew by 4.5 percent and to India by 18 percent.

The North American shale industry knows now that it’s at the mercy of Saudi Arabia. The kingdom has more than two million barrels a day — perhaps even three million if necessary — of spare production capacity that it can use to flood the market again, drive down prices and render any ambitious American plans useless.

Al-Falih takes a long-term view and expects the oil market to grow, not decline, in absolute terms in the next two decades, despite adverse changes in the energy mix. “Even if the share of oil goes down from, say, 30 to 25 percent, 25 percent of a much bigger global demand means a much higher absolute number of barrels that will be in demand by 2030 or 2040,” he told The Houston Chronicle. So it makes more sense to fight for long-term market share rather than a momentarily high price. In that regard, the Saudis have won the oil war.

bloomberg.com



52 Comments on "Saudi Arabia Declares Cease-Fire in Oil War"

  1. Plantagenet on Fri, 22nd Jul 2016 11:31 am 

    The Saudis don’t seem to understand that oil is a finite resource and Saudi Arabia itself is very close to peaking. Once Ghawar peaks in the near future,, Saudi oil production will start to decline. At that point the current policy of intentionally creating an oil glut by pumping full out will be seen as a monumental mistake.

    Cheers!

  2. PracticalMaina on Fri, 22nd Jul 2016 11:32 am 

    Perfecting technology, what a load.

  3. shortonoil on Fri, 22nd Jul 2016 12:39 pm 

    If the glut is over Mr. Market did not get the memo. Oil is back to $43 today. There will be a cease fire when Saudi Arabia is back to selling camel turds, and sandbox filler as a primary source of income. The price of oil is heading lower:

    http://www.thehillsgroup.org/depletion2_022.htm

    and so is the Saudi dynasty. 28 million people starving on a sand dune are not going to be in the mood to discuss a cease fire; and cooking 5000 Saudi princes isn’t going take that much oil!

  4. penury on Fri, 22nd Jul 2016 1:00 pm 

    If SA, had 3 million barrel a day surplus, they would be selling 3 million barrels a day extra. If the U.S. was not financing the war with Yemen SA would be in deep doo doo at this point.

  5. Anonymous on Fri, 22nd Jul 2016 2:06 pm 

    JewBerg, still pushing the ‘saud’s at war with North American…..(wait, what, its NORTH American now?), shale\fakers. Lets amend that to just ‘amerikan’ frakers shall we. Anyhoo, Its not really clear if anyone believed that bullshit about the ‘saudi-war-on-uS-frakers’ fable from the start.

    Its widely understood the ‘war’ was against Russia, Iran, Venuzuala primarily, uS motherfrakers were just collateral damage, thrown under the bus as it were. Trying to cripple Russia w/o resorting to an actual war, was far more important in the short term than the sauds cash-flow, or the solvency of a pile of over-leveraged uS frakers.

  6. geopressure on Fri, 22nd Jul 2016 2:39 pm 

    Short on oil…

    The oil glut is over – 4 US refineries shut down today due to lack of crude oil to process…

    But the Market (the CME) is controlled by other forces that are more powerful than supply/demand…

    Forces like: “The SEC is going to investigate your firm if your traders hit the bid”, or “You get letters from the IRS if you sit on the bid…

    Why do you think that Russia has opened their own commodities exchange??? because the CME is a joke…

  7. jjhman on Fri, 22nd Jul 2016 2:40 pm 

    Anonymous:

    Please just go away. Nazi babble is so out of date.

  8. onlooker on Fri, 22nd Jul 2016 2:49 pm 

    Nazi babble. Hardly. He is speaking of the manner by which the Grand Geopolitical game has been always played with sleight of hand and deception as well as economic leverage. Not all wars are hot, some are cold wars. So please this has nothing to do with Nazi, Jews do have a strong influence in world affairs.

  9. shortonoil on Fri, 22nd Jul 2016 3:53 pm 

    “The oil glut is over – 4 US refineries shut down today due to lack of crude oil to process… “

    That statement is so off the wall it is not really even worth commenting on. US crude stock are at historical highs, and the world is flooded with finished product that is not selling. If they are shutting down it is because of excess finished inventory, collapsing crack spreads. or someone blew up a pipe line.

    http://www.zerohedge.com/news/2016-07-21/china-floods-world-gasoline-european-stocks-hit-all-time-high

    We are approaching the end of the oil age, and this hasn’t even started yet. The world now has to come up with $2.3 trillion a year to keep the oil flowing, and the credit card is getting pretty worn out.

  10. shortonoil on Fri, 22nd Jul 2016 4:18 pm 

    “Trying to cripple Russia w/o resorting to an actual war, was far more important in the short term than the sauds cash-flow, or the solvency of a pile of over-leveraged uS frakers. “

    The price of oil fell because it was just not worth to the economy what the industry was asking for it. It is the same reason that it will not go back up. There will always be an oversupply because there is no shortage of oil; there is 2,900 Gb of it still in the ground. There is a shortage of oil that the economy can afford to pay for. It is as simple as that, and no nasty Russians, phyco Saudis, or stupid frackers needed. The world has spent the last 150 years pumping the best that could be found; what remains is no longer the best. It is called depletion!

  11. geopressure on Fri, 22nd Jul 2016 4:22 pm 

    shortonoil:

    you do not understand how the world work… but you soon will…


    I like you, but all you “the hills group” research is like dead wrong…

  12. geopressure on Fri, 22nd Jul 2016 4:22 pm 

    shortonoil:

    you do not understand how the world work… but you soon will…


    I like you, but all you “the hills group” research is like dead wrong…

  13. geopressure on Fri, 22nd Jul 2016 4:26 pm 

    I like you, but all you “the hills group” research is like dead wrong…

    i”ve explained that to you before, but you did not seem to follow…

  14. geopressure on Fri, 22nd Jul 2016 4:38 pm 

    can we have a separate forum so that i can rip your findings apart???

    please give me that opportunity…

  15. geopressure on Fri, 22nd Jul 2016 4:40 pm 

    i’m just sick of your shit… I’m sick of “The Hills Group”… i’m ready to prove your research to be bullshit…

  16. ghung on Fri, 22nd Jul 2016 4:59 pm 

    One more time, Geo? Still didn’t get that.

  17. antaris on Fri, 22nd Jul 2016 5:22 pm 

    I Geo’s been in the sauce.

  18. Boat on Fri, 22nd Jul 2016 5:39 pm 

    geopressure,

    You have been living in a world of conspiracy theory. Try to produce some links and data to support your endless fantasies.

  19. Davy on Fri, 22nd Jul 2016 6:44 pm 

    Geo you are showing your true colors now that your unreality is crumbling into a reality that you were dead wrong. It has been some time now since you contributed anything meaningful and we know why. You were making some off the wall predictions that didn’t amount to squat instead they came to squat.

  20. Sissyfuss on Fri, 22nd Jul 2016 6:49 pm 

    Me no understand how Geo mind work.
    Help some could?

  21. Northwest Resident on Fri, 22nd Jul 2016 7:04 pm 

    After reading many of Geo’s posts over an extended period of time, I have come to the conclusion that Geo has no idea how the real world works, not even a firm grasp on how his own imaginary world works. Lots of Geo’s in this world. Just wait until the world they thought they understood dissolves into chaos. Then we’ll have lots of geo-zombies to contend with, and won’t that be something to see.

  22. rockman on Fri, 22nd Jul 2016 7:29 pm 

    What I continue to find amazing is why anyone thinks the KSA increasing its market share is any advantage to them.

    So let’s hear from the sharites: what did the KSA gain that’s of any practical value to them?

    A) Increased revenue? No…they suffered much lower revenue.

    B) Decreased the decline rate of their proved reserves? No…increased production leads to quicker depletion.

    C) Increased incentives for the KSA to develop new reserves? No…lower oil prices reduced the profitability of planned projects.

    D) Decreased their budget deficit? No…caused the largest deficit in Saudi history.

    E) Decreased tensions with their regional rival Iran? No…just the opposite.

    F) Pushed US companies (especially the shale players) to produce less from existing oil wells in the US? NO…increased pressure on US companies to produce as much as possible especially true for the heavily indebted shale players.

    G) Increased KSA oil imports to the US to offset our declining domestic production? No…according to the US govt from 2012 thru 2015 KSA oil exports to the US DECREASED 22%. The KSA may have increased its market share of exports to some countries but not to the US. The US which was supposed to be their targeted market. Or does anyone think the KSA forced prices down so they could loose US market share to Canada et al?

    And finally:

    H) Decrease development of US unconventional oil resources. Yes. And how did that materially benefit the KSA? Increased revenue…NO! Smaller KSA budget deficits…NO! Improved economics to develop new KSA oil projects…NO! Increased market share of US oil imports…NO!

    So again I need any sharite out there to explain to us exactly why the Saudis INTENTIONALLY forced the price of oil down. Or accept the fact that the KSA increased production to maximize revenue as a result of the global economy’s inability to continue paying RECORD HIGH oil prices. Prices, although much lower today, that are still higher then the historic average. A fact that so far seems to have stabilized prices at less the $50/bbl.

  23. Apneaman on Fri, 22nd Jul 2016 7:52 pm 

    Geo is far from being alone in his clinging to his version of reality. Look at my favorite topic, AGW and how people, like say residents of Houston can get record breaking (20″) daily rainfall (as predicted) and blame it on too much pavement and overdevelopment. Ya, pavement causes rain. The cause was completely ignored. That’s what the humans do. It’s the default not an exception. C’mon fellas how many of society’s problems are being addressed? Not just environmental stuff, but thing like infrastructure and education? All the leaders do is deny or make empty promises. Most humans live in a world of their own making. Here’s some shit to ponder.

    Why do we cling to beliefs when they’re threatened by facts?

    http://arstechnica.com/science/2014/12/why-do-we-cling-to-beliefs-when-theyre-threatened-by-facts/

    If We Can’t Be Honest, No Solution Is Possible

    http://charleshughsmith.blogspot.ca/2016/07/if-we-cant-be-honest-no-solution-is.html

  24. JuanP on Fri, 22nd Jul 2016 8:07 pm 

    Geo, I would be very interested in reading your comments trying to prove Short wrong. There is no need for you to do it on another forum. My guess is most of us would like to see you try. Everyone that has tried has failed so far. I think Short’s work makes a lot of sense to me, but I am not an expert in the subjects involved.

  25. Boat on Fri, 22nd Jul 2016 9:17 pm 

    short,

    “The price of oil fell because it was just not worth to the economy what the industry was asking for it. It is the same reason that it will not go back up. There will always be an oversupply because there is no shortage of oil”

    Oil was down to $27 then recovered to $53 and now around 47 a week ago. Why did it go up when you say it can’t?

  26. Boat on Fri, 22nd Jul 2016 9:45 pm 

    “Geo, I would be very interested in reading your comments trying to prove Short wrong. There is no need for you to do it on another forum. My guess is most of us would like to see you try. Everyone that has tried has failed so far”

    JuanP,

    I have shown many times where short has been very wrong. He makes some shyt up and distorts some of the data by cherry picking. To bad some of the elegant doomer writers are too lazy or thought challenged to do rigorous fact checking.
    He will be proved wrong in 2 1/2 years and oil will still be viable in an economy that is still functioning around the world.

  27. Boat on Fri, 22nd Jul 2016 10:45 pm 

    “What I continue to find amazing is why anyone thinks the KSA increasing its market share is any advantage to them.”

    The Saudi make a profit on their oil. They decided increased volume was in their best interests. More volume more money.

    F) Pushed US companies (especially the shale players) to produce less from existing oil wells in the US? NO…increased pressure on US companies to produce as much as possible especially true for the heavily indebted shale players.

    That’s just part of the story. Many shale producers have gone bankrupt and US production has dropped 700,000 bpd and still dropping. Pressure on the US oil producer? Of course.

    “The KSA may have increased its market share of exports to some countries but”

    There is no may to it. Their rig count is up along with their production.

    We will just disagree. It is easy to argue the Saudie upped oil production to kill off high cost producers. They knew 2 mbpd needed to come off the market. They added rigs and production.
    Maybe they thought they thought they could hamper Iran oil sales after sanctions. Maybe they wanted to hurt Russia for supporting Assad in Syria. Maybe they thought, holy camel shyt, we can do all three.

  28. GregT on Fri, 22nd Jul 2016 11:41 pm 

    “The Saudi make a profit on their oil. They decided increased volume was in their best interests. More volume more money.”

    You have now gone beyond the point of sheer stupidity Boat, more like completely fucking brain-dead.

  29. GregT on Fri, 22nd Jul 2016 11:57 pm 

    “I have shown many times where short has been very wrong.”

    You have done nothing of the sort Boat. You are way out of your league here boy.

  30. joe on Sat, 23rd Jul 2016 8:39 am 

    Now for the next oil price spike and production slump. Saudi wont be able to export. But it has got China locked in to some juicy contracts. They will ride out the next peak oil phase and sit back and laugh while America exhausts itself looking for pyrrhic victories in Iraq and Russia.

  31. Anonymous on Sat, 23rd Jul 2016 2:08 pm 

    I know short subscribes to the idea that the uS and its puppets are above using oil as a weapon against its real, or perceived, rivals. But the fact is, the uS *does* manipulate world oil markets. This does not invalidate your thesis either. Frak-gas is too expensive by a number of measures, and even ‘cheap’ energy wont be able to fuel growth-for-the-sake-of-growth in the ‘western nations’ any longer.

    The uS, has, in collusion with its saudi puppets driven the world prices lower than would normally be the case in a free, unrigged market.

    You are also correct, if frakers and strip mined ‘oil’ producers charged the price they needed to recover their costs AND allow for future strip-mining for pseudo-oil. Then yes, the ‘market’ would choke on their over-priced, environmentally ruinous pseudo-oil as well.

    Neither of these conditions are mutually exclusive.

  32. Tom on Sat, 23rd Jul 2016 2:08 pm 

    4 theories: Most logical first
    1)The Commodities super cycle has come to an end. This is why it’s called a Cyclical industry.
    2) Conspiracy: US is stopping Euro, and Yuan from becoming reserve currency for oil by artificially inducing a oil price crash. (with beneficial consequence of breaking up the EU)
    3) Conspiracy: US is stopping the progress of socialism/Marxism in Venezuela, and Russia by artificially inducing an oil price crash.
    4) Conspiracy: Big oil is crushing the newly profitable alternative energy sector by artificially inducing an oil price crash.

  33. Dr. James on Sat, 23rd Jul 2016 4:21 pm 

    That is why it is important for The United States to push new technologies, solar, wind, new batteries for electric cars. There will be a longterm need for petroleum for commercial vehicles int he least. But we have natural gas and can use it as the bridge until the renewables set in. I don’t like that a foreign country has us over a barrel. See the Solutions Project by Stanford Academian Dr. Jacaobson. It makes sense. All we lack is political will and the need to curb special interests.

  34. Danid on Sat, 23rd Jul 2016 6:20 pm 

    Terrorist darling of our government is Declares Cease-Fire on what funding and training Islamic terrorists? Al-Saud family murdered close to 4000 of our citizens on 9/11 and our government shamefully covered up their crime. Would I be loyal to such a government??

  35. JuanP on Sat, 23rd Jul 2016 8:47 pm 

    Boat, As far as I am concerned you have NEVER proven Short wrong.

  36. Adil on Sat, 23rd Jul 2016 9:56 pm 

    SA has declared a sease-fire for other reasons. His finances are in messy order. SA has to cut subsidies and allowances to its people who is growing angry and challenging to the royal family. Plus SA fears a Trump administration that would stand with American oil producers by untying the choking regulations and reviewing the US giveaways to the Saudis…

  37. rockman on Sat, 23rd Jul 2016 10:06 pm 

    Boat – “They decided increased volume was in their best interests. More volume more money.” Serious!y??? You just just didn’t just shoot yourself in the foot: you just chopped both your legs off at the knees. LOL. You argue highly technical issues with shorty but lack the skills to do a 30 second Internet search to discover that KSA oil revenue in 2015 DECREASED 23% from 2014?

    Maybe you just got lazy and didn’t bother to pull up any of the DOZENS of Internet stories detailing the decline of Saudi oil revenue as a result of their supposed “war” on US shale players. And not just damage to the KSA but OPEC in general:

    OPEC oil revenues slump to 10-year low
    by Ivana Kottasova
    June 23, 2016

    “OPEC’s revenue slumps to 10-year low
    OPEC’s 13 member countries saw oil export revenues slump to their lowest level in a decade last year. Crude revenues fell nearly 46% to $518 billion in 2015, according to OPEC’s annual bulletin published Wednesday. Collapsing world oil prices also meant that OPEC countries spent more importing goods than they raised from exports for the first time in 17 years.

    The cartel posted a combined current account deficit of just under $100 billion in 2015, compared with a surplus of $238 billion in 2014. Only four OPEC members managed to keep their current accounts in surplus in 2015 — Qatar, Kuwait, the United Arab Emirates and Iran.”

    Regardless of how you came up with sych an erronious statement you just did severe damage to your credibility.

  38. GregT on Sat, 23rd Jul 2016 10:13 pm 

    “Regardless of how you came up with sych an erronious statement you just did severe damage to your credibility.”

    What credibility? The guy is a fucking clown.

  39. rockman on Sat, 23rd Jul 2016 10:26 pm 

    Dr James – “But we have natural gas and can use it as the bridge until the renewables set in.” Rather questionable IMHO. First many tens of millions of drivers will have to buy new NG fueled vehicles or convert their existing vehicles. But they won’t do that until tens of thousands of NG fuel stations are built. And tens of thousands of those stations won’t be built until those tens of million new NG vehicles are on the road.

    Granted it could be done slowly over decades. But while we have abundant and relatively cheap NG today but what in 15 to 20 years? And if you could snap you fingers and make it happen in a year how would that huge demand increase be met? You do understand that despite record NG production we currently consume more NG then we produce? Yes: the US is a NET NG importer. By just a tiny bit but we still have to import to meet currernt demand.

    So to meet such a surge in demand the US would have to import hundreds of $billions in foreign LNG. Which would make us as dependent on NG exporting countries as we are now on oil exporting countries.

  40. rockman on Sat, 23rd Jul 2016 10:31 pm 

    Greg – I cut folks a lot of slack when it theories, predictions and especially opinions. Opinions are like assholes: we all have them.

    But not on FACTS.

  41. onlooker on Sat, 23rd Jul 2016 10:32 pm 

    This reminds me of the scorched earth military tactic. If we cannot benefit from a said resource neither will our enemy. At this point the oil business in a zero sum game. No winners just battles to avoid the greater loss. It seems the West ie. the US is counting on it military to secure oil supplies rather than economic might or leverage. This cold war is ever so steadily becoming hotter.

  42. Boat on Sat, 23rd Jul 2016 10:51 pm 

    rock,

    You’re just playing a twist of words. It is true Saudi oil revenue is drastically down because prices dropped as low as $27. Much of the Saudi oil for decades has been produced for as little as $10. Isn’t that still a profit?
    There are a handle of countries that continued to add rigs despite the price drop. Do you really think they add drilling rigs to lose money? Do you? That 100 billion deficit is not because their oil is not making a profit. They are just making less profit. Overspending in other areas created that deficit. You tell me what their deficit would be with no oil. I suspect it dwarf today’s. If you have issues with my credibility. Think before you type and don’t mix apples and oranges.

  43. jeeps on Sat, 23rd Jul 2016 10:55 pm 

    It makes no financial sense for KSA to over produce. If they could keep oil at $100 barrel by dropping production 10% they would make much more than “gaining market share”.

    .9X(90%) x $100/bbl = 90X
    vs.
    X x $43/bbl = 43X

    (X is their peak production)

    They literally could make more than TWICE AS MUCH money by producing LESS !!!!

    Market share is a crock, it is traded on a global market, contracts get renegotiated.

    The IRRATIONAL (fiscally) choice to over produce coincides with the Iran Nuclear deal implementation and Crimean takeover. As a tool of economic coercion and punishment it makes perfect sense for US policy. Most of the middle east has been easily destabilized by US, and the locals REALLY don’t like the Saudia, Sunni or not. The House of Saud is a House of Cards that does as it’s told.

  44. Boat on Sat, 23rd Jul 2016 11:11 pm 

    tom,

    You tell me who overshot world production by 2 mbpd. You think the US gov has control of thousands of independent oil companies and their investors?
    Canada added a lot of oil preceding the crash. Was it them?

    Oil is a world commodity. Oil is drilled and produced around the world. The eia and others had clearly shown for years preceding the crash that demand was 1.2-1.5 mbpd. So why did producers keep drilling until there there was a huge glut? I think overall humans in the oil biz are just lousy at research and reading markets. No conspiracy.

  45. Boat on Sat, 23rd Jul 2016 11:20 pm 

    jeeps on Sat, 23rd Jul 2016 10:55 pm

    It makes no financial sense for KSA to over produce. If they could keep oil at $100 barrel by dropping production 10% they would make much more than “gaining market share”.

    You can make that same argument about every oil producer in the world that sent a drilling rig out when oversupply was plain to see. Most sent them out anyhow.

  46. Boat on Sat, 23rd Jul 2016 11:24 pm 

    JuanP on Sat, 23rd Jul 2016 8:47 pm
    Boat, As far as I am concerned you have NEVER proven Short wrong.

    If your here tomorrow I will walk you through short’s camel pee.

  47. GregT on Sun, 24th Jul 2016 1:03 am 

    “If your here tomorrow I will walk you through short’s camel pee.”

    That would be ‘you’re’ Boat. As in “If you’re here tomorrow”.

    Looking forward to the debate of the minute, between a group of highly educated physicists, intellectuals, and engineers, against Kevin. AKA, Boat.

  48. Anonymous on Sun, 24th Jul 2016 3:12 am 

    Not that I think we need anymore proof that the ‘saudi-war-vs-uS-frakers is utter horseshit, but there is another angle to this that afaik, has never been brought up.

    Its washingdums reaction, or more to the point, NON-reaction to this alleged saudi ‘oil war’.

    According to the fables circulated by uS media, the uS, is (supposedly) the primary target of this saudi production war. But what has amerikas political and economic elites response been to this clear declaration of economic war vs the uS by the ‘sauds’? Remember, this is the same uS that regards unproven cyber attacks(that harm no one), as grounds for actual military action.

    There hasn’t been one. Despite supposedly clear intent by the ‘sauds’ to damage the politically very well connected oil cartel in the uS, the uS elites have not shown the least interest in punishing the ‘sauds’ in retaliation.
    If anything, western arms sales to the sauds are up and uS support for saudi aggression in Syria and Yemen?, its all good….

    No talk of sanctions, no visits from uS ambassadors, certainly no talk of involving the WTO, much less any kind of military action. Remember, the ‘sauds’ are supposedly deliberately trying to cause 100’s of thousands of jobs to disappear and cause billions in losses to the uS economy. Again, recall this is same uS that tries to economically strangle countries even as those countries openly state they want good relations and trade with amerika.

    Russia and Iran are more or less under permanent economic siege by the uS, along with other nations as well, and not one of them has done a fraction (any?) of the damage the sauds are supposed to be inflicting intentionally on the homeland.

    Clearly, the uS’s lack of interest and non-response to the sauds actions by uS elites is as good an indication as any that they know full-well the market share story is a hoax. Its just another hole in this entire fable you could drive a oil-filled tanker through and not come close to scratching the paint. Imagine what the uS response would be if Russia were doing what the sauds are doing. Flood the world with oil, then openly state they are trying to drive the price down to hurt amerika? The uS ‘establishment’ would go into complete meltdown mode and be screaming for Putins head on a platter and or full-blown mobilization for all-out war.

    But since its the ‘sauds’? .

  49. onlooker on Sun, 24th Jul 2016 5:47 am 

    Scorched Earth as Anonymous stated. The whole oil gambit was and is to hurt oil producing nations. Most being rivals of the US.

  50. JuanP on Sun, 24th Jul 2016 7:31 am 

    Boat “If your here tomorrow I will walk you through short’s camel pee.”
    Here we have another example of Boat’s well reasoned and researched logical arguments that are supposed to convince us that he is smarter and better educated than we are, and he is right and we are wrong. Keep up the good work, Boat! LOL!

    And, by the way, you functionally illiterate, ignorant fool, that was supposed to be “you are” not “your”. If you are still here tomorrow, I will keep teaching you how to read and write in your own language, fucktard! You should take basic literacy remedial classes before pretending to be better educated than others. LOL! You are such a fool!

Leave a Reply

Your email address will not be published. Required fields are marked *