Saudis give Bush the finger over oil-output

"Bob Hawke" > wrote in message
...
> Once the oil gets over $40 US a barrel the USA shale under the Colorado
> mountains becomes viable to extract.

It's been higher than that for quite some time already!

MrT.

"Mr.T" <MrT@home> writes:


>"Bob Hawke" > wrote in message
...
>> Once the oil gets over $40 US a barrel the USA shale under the Colorado
>> mountains becomes viable to extract.

>It's been higher than that for quite some time already!

And if the Yanks are going to start mining oil shale you can bet we'd see
serious moves made to re-start the Australian oil shale industry. That'll
really impress the locals up at Glen-Davis and Newnes when they get told the
big mining companies are taking over their towns. 8-)

Craig.

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On May 17, 5:45*pm, "Mr.T" <MrT@home> wrote:
> "Bob Hawke" > wrote in message
>
> ...
>
> > Once the oil gets over $40 US a barrel the USA shale under the Colorado
> > mountains becomes viable to extract.
>
> It's been higher than that for quite some time already!

i thought the figure was closer to $100 per barrel.

the point is though, that the saudis have, through their vast
reserves, the power to control the global price. anyone who was
willing to spend $billions tooling up shale oil drilling/extraction
facilities and refineries would be completely at the mercy of the
saudis not to start producing more oil, which would lower the price
and make shale oil uncompetitive. in other words, the saudis and OPEC
hold the aces.

when you really think about it, and of course they have, imperialism
is a better business model. thus the large US military presence in
saudi arabia and other activities in the mid-east.

Exactly, rather than the Saudis, I'd point the finger
at OPEC, an organization that is 75% muslim.


"the fonz" > wrote in message
...
On May 17, 5:45 pm, "Mr.T" <MrT@home> wrote:
> "Bob Hawke" > wrote in message
>
> ...
>
> > Once the oil gets over $40 US a barrel the USA shale under the Colorado
> > mountains becomes viable to extract.
>
> It's been higher than that for quite some time already!

i thought the figure was closer to $100 per barrel.

the point is though, that the saudis have, through their vast
reserves, the power to control the global price. anyone who was
willing to spend $billions tooling up shale oil drilling/extraction
facilities and refineries would be completely at the mercy of the
saudis not to start producing more oil, which would lower the price
and make shale oil uncompetitive. in other words, the saudis and OPEC
hold the aces.

when you really think about it, and of course they have, imperialism
is a better business model. thus the large US military presence in
saudi arabia and other activities in the mid-east.

On May 18, 7:10*am, "Doug" > wrote:
> Exactly, rather than the Saudis, I'd point the finger
> at OPEC, an organization that is 75% muslim.

you do realise it's their oil. supposedly this gives them the right to
do with it as they choose.

Anything more than a few feet under my backyard is mine? Gee, that's good
news..



"the fonz" > wrote in message
...
> On May 18, 7:10 am, "Doug" > wrote:
>> Exactly, rather than the Saudis, I'd point the finger
>> at OPEC, an organization that is 75% muslim.
>
> you do realise it's their oil. supposedly this gives them the right to
> do with it as they choose.

On May 18, 5:53*pm, "russell" > wrote:
> Anything more than a few feet under my backyard is mine? * Gee, that's good
> news..

knock yourself out..

We should stop selling the Saudis food. They can eat
all the sand and oil they want -- just not food.

"the fonz" > wrote in message
...
On May 18, 7:10 am, "Doug" > wrote:
> Exactly, rather than the Saudis, I'd point the finger
> at OPEC, an organization that is 75% muslim.

you do realise it's their oil. supposedly this gives them the right to
do with it as they choose.

"the fonz" > wrote in message
...
>> > Once the oil gets over $40 US a barrel the USA shale under the Colorado
>> > mountains becomes viable to extract.
>
>> It's been higher than that for quite some time already!

>i thought the figure was closer to $100 per barrel.

Well over $100 USD a barrel unfortunately!

Some interesting figures and forcasts at http://www.oil-price.net/

MrT.