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Have you hugged a fracker today? WSJ: Saudi's look for US Oil


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12/20/2017, 1:47 pm Link to this post PM spud100 Blog
 
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Re: Have you hugged a fracker today? WSJ: Saudi's look for US Oil


Spike,

"Saudi's lookin' for US Fracker action"

Yup. The amazing Frackers have driven the Saudi's first to try to use the old Cartel method of cutting production and trying to bully other producers to cut and hold production low.

And now they are focused on partnering with us! It goes to show how wrong they were to go back to that '70's era Cartel action.

That was a difficult effort on their part, and based on illusion. In their leadership of their countries, they couldn't imagine the difference over here.

They thought that they could drive oil per barrel cost below a given number and it would kill Fracking operators.

Yes. It did. At the time I wrote in KAI the idiocy of this, and in the oilfields they didn't bother.

Given companies folded and holding companies bought the gear. The workers went on unemployment or to other oilfield jobs.

As soon as it popped up, they were gonna come back. Various oil investors were ready to fund various companies that were just waiting. But new tech surprised again, and they were able to open back up at a lower cost.

So US tech and biz innovation defeated the very arduous national efforts the various Oil country dictators had forced their people to endure.

Now that we and other former dwindling producers are back in big production, the Saudi's are sitting on a welfare State based on what is a future now listed in less than ten years. If they cannot transition to a functioning economy based on something else by then, mucho strifo in Saudi-o.

It never occured to me that they might try to buy into our US oil production market, though. Very interesting!
12/20/2017, 4:39 pm Link to this post PM greendocnowciv Blog
 
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Re: Have you hugged a fracker today? WSJ: Saudi's look for US Oil


Money is always the fungible item...
12/22/2017, 4:59 pm Link to this post PM spud100 Blog
 


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