[ExI] A paranormal prediction for the next year

[Kelly Anderson]

On Wed, Jan 14, 2015 at 8:29 PM, John Clark <johnkclark at gmail.com> wrote:

> On Wed, Jan 14, 2015  Kelly Anderson <kellycoinguy at gmail.com> wrote:
>
> > The current depression of oil prices is due in part to the fact that
>> OPEC refuses to lower production.
>>
>
> It's no great mystery, with oil prices super low OPEC's profits are way
> way down, if they lower production profits would go down even more and oil
> money is the only thing that is keeps countries like Saudi Arabia from
> falling apart. Except for oil what does Saudi Arabia have that the world
> wants?
>

But in the past, OPEC (most specifically Saudi Arabia) has reduced
production to keep prices from going too low. It may be in this case that
they want to make fracking less profitable and this round of low prices MAY
be aimed at driving those kinds of businesses out of business.

One thing is for sure, the price of oil is a VERY complex beastie that has
a lot of contributing components and nobody understands it all. Certainly
not me, and not anyone else on this list, other than in broad strokes.


>
>
>> > it is also POSSIBLE that they are doing so because the Obama
>> administration wishes to put extreme pressure on Russia.
>>
>
> The collapse of oil prices is certainly terrible news for Vladimir Putin
> (Boo Hoo), but when did Obama get the power to tell OPEC what to do?
>

The US president can certainly be PERSUASIVE with people like Saudi Arabia.
He can't tell them what to do, but he can suggest strongly.

-Kelly
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