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Tuesday, March 14, 2017

With Regard To Oil And The Price Of Oil -- For Both Russia And Saudi Arabia These Are Existential Issues -- March 14, 2017

This is quite interesting.

Three countries with existential issues:
  • North Korea
  • Saudi Arabia
  • Russia
For decades, as North Korea came closer and closer to the edge, they upped the nuclear ante and the western world responded by sending them cash. Under Trump, that has come to an end. Instead of cash, Trump is sending drones and US Navy Seal Team 6.

By the way, it's not the US shale sector that's riding the coattails of Saudi's cut in oil production, it's Russia. Russia is taking advantage of Saudi's predicament.

By the way, did you all see the break-even price in the Bakken today? $20. [Update: see first comment.]

Permian doesn't come close to $20 for those who paid $40,000/acre for fringe areas in the Permian. This could get ugly.


Baby Makes Her Blue Jeans Talk, Dr Hook

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