The 1.4 mm b/d in 2014 Iran exported is what we know about. The sanctions were supposed to limit it to 1 mm b/d.
quote:From what I have seen, it appears saudi's using their sovereign wealth fund to play a substantial short position in paper oil in June/July. If that was a successful effort to push the price down to try to drive out more competitors, they could reverse the trade and go long to drive up the price. As I understand it, Saudi sells oil by stating a price relative to Brent and will sell as much as they want/can to whomever will meet that price. Manipulating either the discount or Brent will change the amount people are paying for Saudi oil, and effectively adjust much of the international market.
Just listened to a great presentation from Dr. Mark Dotzour at the A&M Real Estate Center. A good chunk of his presentation was around oil and the global effects of bringing Iran onto the dance floor and the artificial propping up of the Chinese and Japanese economies (its expensive to keep trillion dollar markets supported for very long).
Shouldn't surprise anyone here, but the general sentiment is that US companies have gotten margins down to be profitable at $65 and that prior to the Iran announcement that we were on track to see stabilization and growth in the latter part of this year. As it is now, if China/Japan don't see honest market activity in the near term then global consumption is going to fall precipitously and if/when Iran comes back that could herald $30 within the year.
Side note, the prices needed to appease the peasants and hold off an 'arab spring' coming back is above $65-70 for Saudi. They completely underestimated the ability of the US to sustain sub $70 prices. The rhetoric sounds like they're reevaluating how to manipulate the market if the ayatollah comes back into play.
Short story: the global players have no idea what's going to happen since potus decided to come in with a left hook.
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As I said before, the majors absolutely have to radically restructure. Trimming a billion here & a billion there isn't going to cut it.
This is a fundamental shift in how companies operate & remain profitable. It's just simply too easy for a lot of companies to access reserves now.
A lot more people will lose their jobs before this is over.
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As I said before, the majors absolutely have to radically restructure. Trimming a billion here & a billion there isn't going to cut it.
This is a fundamental shift in how companies operate & remain profitable. It's just simply too easy for a lot of companies to access reserves now.
A lot more people will lose their jobs before this is over.
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A&M's program at CityCentre?
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I can't point and laugh. I'm strongly considering Baylor's online program because of my travel schedule.
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I've been manufacturing offshore gear , mostly capitol equipment, for the majors for over 35 years and I can honestly say that over 50% of our costs and therefor our prices are directly due to useless no value added no justification possible in many cases counterproductive crap we have to add/do/design/work around ......demanded over the last 5-10 years by the customers. From having to deal with unqualified sub moronic third party inspectors to inspection and test demands that serve zero purpose to material call outs akin to using titanium for a sign post it's insane . But they always push back with the " well it's probably really not needed but we will pay for it so go ahead and charge us !!"
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BP is also giving up operatorship in many areas.
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I think he's just pointing out the number of manhours spent on show and tell.
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He's over the top, but he is correct. We just sent two quotes for the first time ever on for a major's subsea project. What they specified and what was actually industry standard. The difference was almost half as in multi 9 figures different. We were tired of them threatening to take the work elsewhere because "we" were too expensive.
Let's just say the entire project is being reevaluated by their senior management.
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Them saying "we are too expensive" is not sharing the burden. Just like understanding your market position and adjusting your bid to maximize your profit is not sharing the burden. To meet this new reality will take a partnership between everybody. There's plenty of "blame" to go around. But if your worried about "kids" God help you because you will not achieve what it will take to be competitive in this seemingly new reality.
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So the truth comes out..... this page isn't the first evidence..... but anyway - negativity Nancy predicted an oil collapse. I'll bet the house he doesn't predict the next run up.
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So the truth comes out..... this page isn't the first evidence..... but anyway - negativity Nancy predicted an oil collapse. I'll bet the house he doesn't predict the next run up.
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Rest.
Everyone on here is in this together. We are all getting nailed right now. Some of us will make it, some will not. Frustrating that the 'Great Shift Change' will happen and our seasoned warhorses will not get an opportunity to ride off into the sunset like they deserve. Frustrating that several young ones will finish college with a boatload of debt and nowhere to learn. All around a bad deal but remember Aggies stick together and help one another.
quote:Well said.
Rest.
Everyone on here is in this together. We are all getting nailed right now. Some of us will make it, some will not. Frustrating that the 'Great Shift Change' will happen and our seasoned warhorses will not get an opportunity to ride off into the sunset like they deserve. Frustrating that several young ones will finish college with a boatload of debt and nowhere to learn. All around a bad deal but remember Aggies stick together and help one another.
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Rest.
Everyone on here is in this together. We are all getting nailed right now. Some of us will make it, some will not. Frustrating that the 'Great Shift Change' will happen and our seasoned warhorses will not get an opportunity to ride off into the sunset like they deserve. Frustrating that several young ones will finish college with a boatload of debt and nowhere to learn. All around a bad deal but remember Aggies stick together and help one another.
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Rest.
Everyone on here is in this together. We are all getting nailed right now. Some of us will make it, some will not. Frustrating that the 'Great Shift Change' will happen and our seasoned warhorses will not get an opportunity to ride off into the sunset like they deserve. Frustrating that several young ones will finish college with a boatload of debt and nowhere to learn. All around a bad deal but remember Aggies stick together and help one another.