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i read some days ago that the oil prices are falling, because usa discovered new oil fields on their ground.

my knowledge may be outdated (2008), but so far i know 90% of the oil reserves on earth were located in saudi arabia, iran and iraq (in that order). the rest is located elsewhere.

so i dont get why the oil prices are falling just because usa started to pump oil from another field on their ground?
No, The prices are falling to put the companies, who are mining for oil using a process called fracking that is destructive to the earth, out of business. That's how it was explained to me at least.
If you can't wage war and raid other countries for resources, you have to admit that there are some oil reserves on your own territory here and there to satisfy the media and the public...
One word: Recycling!
It's another False Positive:-)
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ThermioN: If you can't wage war and raid other countries for resources, you have to admit that there are some oil reserves on your own territory here and there to satisfy the media and the public...
you mean, that "now usa have enough oil for themself and can export a little" is a lie?
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tinyE: One word: Recycling!
thanks that was illuminating :)
Post edited January 18, 2015 by apehater
To cut a long story short, Saudi Arabia is trying to kill USA production of shale oil by making it unprofitable.

Not the method that the companies in the USA are something I desire, seeing as they're quite destructive and geologically insane.
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Darvond: To cut a long story short, Saudi Arabia is trying to kill USA production of shale oil by making it unprofitable.

Not the method that the companies in the USA are something I desire, seeing as they're quite destructive and geologically insane.
Better that than taking the bus!
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Darvond: To cut a long story short, Saudi Arabia is trying to kill USA production of shale oil by making it unprofitable.

Not the method that the companies in the USA are something I desire, seeing as they're quite destructive and geologically insane.
this tactic of saudi arabia would make sense if the usa had big oil reserves, but as i stated in the opening post, 90 % of the oil are located in the 3 countries. usa has to economize its production to keep the reserves for a black day situation and buy from saudi arabia. like they have done it before.
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paladin181: No, The prices are falling to put the companies, who are mining for oil using a process called fracking that is destructive to the earth, out of business. That's how it was explained to me at least.
I understood this to be a reason for it, as well. Some early results are that a few US fields have shut down and layoffs have begun.

I found this recent interview interesting: http://www.usatoday.com/story/money/columnist/bartiromo/2015/01/11/bartiromo-saudi-prince-alwaleed-oil-100-barrel/21484911/

All that said, I'll continue to invest in energy funds: price goes down, fund goes down, buy in, use goes up, price goes back up, fund goes back up. Meantime, make a personal investment into alternative energy use here at the house.
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HereForTheBeer: price goes down, fund goes down, buy in, use goes up, price goes back up, fund goes back up. Meantime, make a personal investment into alternative energy use here at the house.
a little more simplier please, for the non native english users?
Are we really doing this? I mean, it's just a quick search away. There was a very good comment on the register that I looked for, but comments aren't searchable.

Prices are down because new forms of extracting oil have appeared. They have appeared in the west, suggesting that we might not need to kill all those crazy people in the east. The saudi's don't like this idea, they paid the crazy people in order to stop them being crazy in their grounds. They counted on us killing them. Now they dropped the price to put those invasive technologies down.
Politics.
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Darvond: To cut a long story short, Saudi Arabia is trying to kill USA production of shale oil by making it unprofitable.

Not the method that the companies in the USA are something I desire, seeing as they're quite destructive and geologically insane.
This. OPEC basically folded. The Saudi royal family has been in the Americans' pocket for years. But due to some behind the scenes shenanigans, the Saudis believed that they could 'cut the cord' by dumping supply and ceasing their manipulation of oil prices... at the behest of American oil companies. This has had a backfire though. Through either intent or accident, American energy companies knew that American oil production was on the rise and that international reliance on OPEC oil was coming to and end. The Saudis obviously sensed this as well and played their ACE card. They failed. Short term volatility. Long term death of middle east monopoly on oil. Someone blinked.

Oh, and something something Russia... to be continued.
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wpegg: Are we really doing this? I mean, it's just a quick search away. There was a very good comment on the register that I looked for, but comments aren't searchable.

Prices are down because new forms of extracting oil have appeared. They have appeared in the west, suggesting that we might not need to kill all those crazy people in the east. The saudi's don't like this idea, they paid the crazy people in order to stop them being crazy in their grounds. They counted on us killing them. Now they dropped the price to put those invasive technologies down.
new forms of extraction doesn't rise the reserves of oil in the usa. or do i get it wrong?