If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   Member of the Saudi royal family fears North Dakota will throw them in the wood chipper   (news.yahoo.com) divider line 39
    More: Obvious, Saudi royal family, North Dakota, Saudis, shale oil, shale gas, Tom Kloza  
•       •       •

6767 clicks; posted to Main » on 01 Aug 2013 at 9:32 AM (36 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



39 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-08-01 09:33:59 AM
Well it isn't a fargone conclusion, eh?
 
2013-08-01 09:34:39 AM
Good. Let them go back to selling egg timers.
 
2013-08-01 09:35:38 AM
cdn.meme.li

F*ck you, Saudis
 
2013-08-01 09:39:00 AM
Is this supposed to make us feel for the Saudis or something?
 
2013-08-01 09:40:36 AM
Oh, I do like this quote FTFA though:

Chuck Wilder, who runs local bookstore Broadway Books, says he remembers the oil shocks of the 1970s, when OPEC "held the U.S. hostage" over oil.
Now, he says, the Saudis "need to get used to the idea that they're not the only ones with oil." As for the royal family feeling fear? "It couldn't happen to a nicer bunch."



overthepylon.files.wordpress.com
 
2013-08-01 09:41:48 AM
I don't get why were doing this. Shouldn't we use nothing but Middle eastern oil?

Use it all up. Eliminate their power over us as quickly as possible. Save ours for when it's expensive and really valuable.

When only one country in the world has oil left, it'd be nice if it was the US and not some country like Saudi Arabia.
 
2013-08-01 09:42:28 AM
Let 'em pound sand.
 
2013-08-01 09:43:44 AM
Yah, sure, you betcha!


PS That's "into" the wood chipper, subby.
 
2013-08-01 09:49:08 AM
Came for Good Cat, leaving satisfied...
 
2013-08-01 09:50:00 AM

Maud Dib: Let 'em poundeat sand.


FTFY
 
2013-08-01 09:50:18 AM
It costs about $2 to extract a barrel of oil in Saudi but about $30-50 to extract a barrel in North Dakota.

Saudi needs oil above ~$55/barrel to fund the running of their entire country. North Dakota oil companies need sustained oil prices to be above ~$60 to start to make a profit.

Now... when Saudi runs out of oil - that is a much bigger problem for them.
 
2013-08-01 09:50:46 AM

mark12A: Came for Good Cat, leaving satisfied...


Do you need a cigarette now?
 
gja [TotalFark]
2013-08-01 09:51:36 AM

Anastacya: Well it isn't a

fargone conclusion, eh?

forum-img.pinside.com
 
2013-08-01 09:52:40 AM

95629: I don't get why were doing this. Shouldn't we use nothing but Middle eastern oil?

Use it all up. Eliminate their power over us as quickly as possible. Save ours for when it's expensive and really valuable.

When only one country in the world has oil left, it'd be nice if it was the US and not some country like Saudi Arabia.


That's a nice thought but global commodities don't work like that. Currently, the majority of the oil we consume comes from Canada and Mexico, with Venezuala and other oil exporters filling in the voids of supply.
Our friends to the north have been oil independent for years...it's not a big whoop as that suddenly doesn't make oil über cheap.
 
2013-08-01 09:55:40 AM

95629: I don't get why were doing this. Shouldn't we use nothing but Middle eastern oil?

Use it all up. Eliminate their power over us as quickly as possible. Save ours for when it's expensive and really valuable.

When only one country in the world has oil left, it'd be nice if it was the US and not some country like Saudi Arabia.


You would have to nationalize the oil industry to do that. At the moment the extracted oil doesn't belong to America, it belongs to whichever oil company extracted it and they will sell it wherever they can make the most profit.
 
2013-08-01 09:59:08 AM

gja: Anastacya: Well it isn't a fargone conclusion, eh?

[forum-img.pinside.com image 600x450]


*looks innocent*
 
2013-08-01 09:59:17 AM
Also, see "resource curse/Dutch disease"
 
2013-08-01 10:09:28 AM
'did NOT RTFA.
DID LOL at post headline.
 
2013-08-01 10:12:33 AM
North Dakota has a state run bank and over 1000 nuclear war heads so there may be cause for concern.
 
2013-08-01 10:30:26 AM

jmsvrsn: North Dakota has a state run bank and over 1000 nuclear war heads so there may be cause for concern.


Sounds like we need to invade them.
 
gja [TotalFark]
2013-08-01 10:39:57 AM

wxboy: jmsvrsn: North Dakota has a state run bank and over 1000 nuclear war heads so there may be cause for concern.

Sounds like we need to invade them.


/protip for invasion: bring warm stuff to wear.
cdn.blu-raydefinition.com
 
2013-08-01 10:49:57 AM
It's their fault.  They've allowed crude prices to rise to a point where extraction is cost effective.  If prices dropped to $60 a barrel, oil companies are going to be a lot less willing to spend money to extract from shale.

What could destroy them is the cost of shale extraction going down (it will) and enough production to crash crude prices.  If China ramps up their operations the Saudis will be pretty much fscked.  The best part about it is that they will have done it to themselves, and could have prevented it.  Stupid and greedy is a poor combination.
 
gja [TotalFark]
2013-08-01 10:55:05 AM

AhDammit: Stupid and greedy is a poor combination.


History tends to agree with you.
 
2013-08-01 10:56:45 AM

AhDammit: It's their fault.  They've allowed crude prices to rise to a point where extraction is cost effective.  If prices dropped to $60 a barrel, oil companies are going to be a lot less willing to spend money to extract from shale.

What could destroy them is the cost of shale extraction going down (it will) and enough production to crash crude prices.  If China ramps up their operations the Saudis will be pretty much fscked.  The best part about it is that they will have done it to themselves, and could have prevented it.  Stupid and greedy is a poor combination.


Crude will need to crash to below about $55/barrel before Saudi even starts to hurt. It will take some major improvements in shale extraction before it will be a viable enterprise with Oil at that price point, and even then a lot of Shale extractors would probably look to dial back production and wait until oil goes back up a bit rather than drain their wells at just above break-even.
 
2013-08-01 11:08:45 AM
Menlo College must be sooooo proud of their guy. As long as the donations keep rolling in, I guess.
 
2013-08-01 11:11:04 AM
The entire Saudi Royal Family can go pound sand.
 
2013-08-01 11:28:40 AM
We don't want to make the Saudis mad, they might launch a terror attack on us. I know it sounds silly.
 
2013-08-01 12:06:47 PM

whosits_112: [cdn.meme.li image 300x300]
F*ck you, Saudis


--- THIS.
 
2013-08-01 12:12:33 PM
If the Saudis were smart, they'd buy up large chunks of ND and call it Saudi Dakota.
 
2013-08-01 12:19:29 PM
Oh no, you based your economy on a single nonrenewable resource and now your worried others might have have access to it without you.....oh dear.
 
2013-08-01 01:09:41 PM
The Saudi's have been such good friends to us for so long.. Let's just trust them and stop doing what is best for OUR country so they will be  comfortable.
 
2013-08-01 01:18:01 PM
Everyone please ignore the super secret oil supply contracts the U.S. has with the Saudis.

/Stop buying their oil and down come some more buildings.
 
2013-08-01 01:30:21 PM
nymag.com
 
2013-08-01 02:24:44 PM

The Evil That Lies In The Hearts Of Men: It costs about $2 to extract a barrel of oil in Saudi but about $30-50 to extract a barrel in North Dakota.

Saudi needs oil above ~$55/barrel to fund the running of their entire country. North Dakota oil companies need sustained oil prices to be above ~$60 to start to make a profit.

Now... when Saudi runs out of oil - that is a much bigger problem for them.


Of course the Saudis could cut their price for oil to below $60 a barrel to make shale uneconomical, but they're too damm greedy for their own good.  They seem to be happy keeping the price around $100 a barrel.  So oil at $60 a barrel would be a good deal for the rest of us as it would put downward pressure on the price of gas.
 
gja [TotalFark]
2013-08-01 02:30:53 PM

mrinfoguy: The Saudi's have been such good friends to us for so long.. Let's just trust them and stop doing what is best for OUR country so they will be  comfortable.


With friends like them who needs cancer, AIDS and gonorrhea.
 
2013-08-01 02:31:33 PM
The real problem for that country is the failure of Saudization. When the majority of your workforce are foreigners and you can't get your own citizens to do a damn lick of work, your screwed one way or the other.

/can't wait till those primitive screwheads run out
 
2013-08-01 04:47:02 PM

whosits_112: [cdn.meme.li image 300x300]

F*ck you, Saudis


s12.postimg.org
 
2013-08-01 09:50:51 PM
3.bp.blogspot.com
 
2013-08-02 04:52:33 PM
Ah, Jeez.
 
Displayed 39 of 39 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report