Shym3xx:


Shale oil was just used for leverage to make Saudi and the gulf states bend their stance a bit - the industry isn't that sustainable and it can't compete with fossil fuel. There's no equilibrium and OPEC still holds the ace. If there were to be an equilibrium, the US would've ditched the Saudis by now.

You are right at some point but I think you should have considered the future of oil. Don't forget that the ongoing market share cold war that is currently raging is all about conventional and unconventional oil. Gulf nations have already lost full control of oil prices due to their own inability to foresee changes in the oil industry dynamics and how oil is changing forms geographically, geologically, chemically and economically which the unconventional oil represents. I think Oil prices today are controlled by the discovery of this unconventional oil, though I also don't like the shale oil and other stuffs, but the reality we all have to accept is that the gear has changed hands. Imperialists are now determining the prices of oil.

At some point I just lost interest in this whole "oil prices" argument because you can see how some "intellectual people" started throwing shades at me. Well whatever the case might be, I still think I have learned one or two things from your own points.

P.S I'm not an expect in economics.

fiizznation:
You are right at some point but I think you should have considered the future of oil. Don't forget that the ongoing market share cold war that is currently raging is all about conventional and unconventional oil. Gulf nations have already lost full control of oil prices due to their own inability to foresee changes in the oil industry dynamics and how oil is changing forms geographically, geologically, chemically and economically which the unconventional oil represents. I think Oil prices today are controlled by the discovery of this unconventional oil, though I also don't like the shale oil and other stuffs, but the reality we all have to accept is that the gear has changed hands. Imperialists are now determining the prices of oil.

At some point I just lost interest in this whole "oil prices" argument because you can see how some "intellectual people" started throwing shades at me. Well whatever the case might be, I still think I have learned one or two things from your own points.

P.S I'm not an expect in economics.

But the truth is that with low oil prices, shale oil isn't sustainable cos the process involved is extremely expensive...apart from environmental degradation. So if shale oil producers actually control the market - they would prefer high oil prices.

Evidently, no matter how you look at it, when it comes to oil prices, the production of shale oil is inconsequential. Ditto countries that buy oil. The suppliers control the market and they'll always do till there's an alternative. And I doubt there would be one in the foreseeable future.

The only imperialists "controlling" it are the ones bowing down to the arab oil sheikh and begging them for favours. They can't control it on their own free will.

U shuld tune in to bloomberg now, u will have a clear explanation! I saw it yesterday on the same bloomberg, deve bn repeating it! Most of d pple above who said it due to shortfall of production in Nigeria are right. But its simple to understand,lol y do u nid somuch explanation!

fiizznation:
You are right at some point but I think you should have considered the future of oil. Don't forget that the ongoing market share cold war that is currently raging is all about conventional and unconventional oil. Gulf nations have already lost full control of oil prices due to their own inability to foresee changes in the oil industry dynamics and how oil is changing forms geographically, geologically, chemically and economically which the unconventional oil represents. I think Oil prices today are controlled by the discovery of this unconventional oil, though I also don't like the shale oil and other stuffs, but the reality we all have to accept is that the gear has changed hands. Imperialists are now determining the prices of oil.

At some point I just lost interest in this whole "oil prices" argument because you can see how some "intellectual people" started throwing shades at me. Well whatever the case might be, I still think I have learned one or two things from your own points.

P.S I'm not an expect in economics.

Shym3xx:


But the truth is that with low oil prices, shale oil isn't sustainable cos the process involved is extremely expensive...apart from environmental degradation. So if shale oil producers actually control the market - they would prefer high oil prices.

Evidently, no matter how you look at it, when it comes to oil prices, the production of shale oil is inconsequential. Ditto countries that buy oil. The suppliers control the market and they'll always do till there's an alternative. And I doubt there would be one in the foreseeable future.

The only imperialists "controlling" it are the ones bowing down to the arab oil sheikh and begging them for favours. They can't control it on their own free will.

You just earned a follower. I like it when someone is intelligent in analysis, gives ideas and is open to correction when he sees a better argument. There is what we call price inelasticity of demand and that applies to the oil and gas sector as you rightly stated previously. When someone comes online and starts making posts with insults inclusive, you just know they don't know what they are saying, just cheap internet. I like your composure in replies and intelligence shown without throwing back jabs.

cc. fiizznation