Oil Prices, Energy Trends & What Comes Next
True it shouldn't be like this though. Even what the Saudis are doing to make it drop (even though I am not complaining about it) it shouldn't happen. Way to much control. But that is the way the oil companies like it, hook, line, and sinker. I just keep hoping Russia keeps pissing them off so they keep dropping it.
Russia has oil budgeted for $100 which means it can cover its budget for about 4 years. Saudi Arabia can cover for about 8 years. A country like Nigeria for example, not so lucky. Can only sustain for a few months at these prices. The falling prices are hurting Russia a lot more than the sanctions imposed on them ever did. Oil Conspiracy?
This is not a conspiracy really, it's a political agenda that's well known. Our execs that came down a few weeks ago mentioned this. Though maybe it is a conspiracy and our execs are just using it for leverage control over their employees. But they were not trying to pull anything over us or downgrade anything, so it didn't come off as such.
Will be interesting to see how this plays out. I really don't see this affecting the area to the residents much, but some producers might be crapping their pants, not sure. But there's another thing, many people have lots of investment in the area, like housing (me, my brother, lots of real estate people, etc...).