Wednesday, March 9, 2016
What's behind the falling Price of Oil ?
With too much global supply and the lowest price in nearly 20 years - there's anxiety about a possible oil market meltdown.
US crude prices fell below $30 a barrel on Tuesday, before settling down, but only a bit.
While most major oil companies are slashing their budgets and jobs, some of the biggest oil companies like Saudi Aramco have not cut back on production.
And some OPEC states, like Iran and Iraq, are looking to increase production.
In the past year, the price of a barrel of oil has fallen by more than 50%.
The highest price in the last 12 months was $110 a barrel.
Some investment bankers are now warning that oil could crash to $10 a barrel.
So, what's behind the falling price of oil and what does it mean for consumers?
Presenter: Peter Dobbie
Guests:
Cornelia Meyer - CEO of Meyer Resource, A Macro-Economic and Energy Policy Advisory.
Bismarck Rewane - Managing Director of the Financial Derivatives Company.
Mamdouh Salameh - International Oil Economist and Consultant.
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
THE WHOLE OIL DRILLING AND PROCESSING COSTS IS ALL ABOUT LIES. . THEY ARE ALL COVERING THEIR ASS BY TELING YOU NONSENSE ABOUT THEIR PRICES AND COSTS. THEY DO NOT WANT YOU TO KNOW THAT THEIR REAL COST IS MUCH LESS THAN STATED.
ReplyDeleteTHEY ARE LYING AND THE GUY FROM NIGERIA SAID SUCH MUCH BULL SHIT THAT IT IS IMPOSSIBLE TO MAKE ANY SENSE OF WHAT HE IS SAYING.
THIS IS HOW LIARS WORK. IMAGINE IF THERE WAS OIL IN ISREAL,, ALTHOUGH THEY ARE TRYING TO NOW STEAL THE GOLAN HEIGHTS TO START SCREWING THE WORLD OVER FALSE OIL COSTS.
ALONG WITH THE BANKS, AND DRUG DEALERS, THE PETROLEUM IS THE MOST DISHONEST AND DNGEROUS INDUSTRIES ON EARTH. UNETHICAL, IMMORAL, AND SOLELY PROFIT MOTIVATED BUSINESS, KILLING OFF THE PLANET AND THE HUMANS THROUGH CHEMICALS IN THE WATER AND AIR. EVERYTHING THEY SAY IS AN OBVIOUS LIE AS WHAT THEY SAY MAKES NO SENSE.