[Newsbot]

Title: Saudi Arabia's Oil Minister Suggests Canada, Others Will Have To 'Get Out' Of Oil
Category: Business
Posted By: Freakinoldguy
Date: 2016-02-26 02:02:04
Canadian

[llama66]

Totally words of an ally. We wonder why Alberta is doing so poorly... It's because our so called allies are waging an economic war against us. They see western oil independence as a threat to thier way of life. The best part is we allow it because they pay us lip service in the war on terror.

[Thanos]

We have to get used to it. Our governments in Canada and the US won't stand up to defend us against these bastards.

[xerxes]

llama66 llama66:

Totally words of an ally. We wonder why Alberta is doing so poorly... It's because our so called allies are waging an economic war against us. They see western oil independence as a threat to thier way of life. The best part is we allow it because they pay us lip service in the war on terror.

Actually, it's more an economic war against Russia. We're the collateral damage. Sadly.

[Jabberwalker]

Saudi Arabia's oil minister is an enemy alien.

[llama66]

xerxes xerxes:

llama66 llama66:

Totally words of an ally. We wonder why Alberta is doing so poorly... It's because our so called allies are waging an economic war against us. They see western oil independence as a threat to thier way of life. The best part is we allow it because they pay us lip service in the war on terror.

Actually, it's more an economic war against Russia. We're the collateral damage. Sadly.

His wording seems to be more directed at the West than the Russians. I thinks it's because of the emergence of fracing, to the Saudis it represents a clear and present danger to the nice and tidy monopoly the Saudis and OPEC have built for themselves. Maybe Canada should halt the arms deal with the Saudis, and refuse OPEC oil. Won't happen, I know. Not with Prime Minister Selfie in office.

[peck420]

xerxes xerxes:

Actually, it's more an economic war against Russia. We're the collateral damage. Sadly.

This myth needs to die. ASAP.

Every single person in the entire global oil industry knows who is going to be the first to bite the bullet in a price war.

It isn't Russia.

If the 'target' was Russia, this was the worst possible way for SA to go about it. They would be one of the last to fall, and one of the first to pick right back up upon price increasing post price war. Completely defeating the objective of the price war, specifically for the nation that instigated it.

The target is, and always was, the USA and their substantial increases in production over the past 5 years. Canada is collateral damage, the US is not.

That shouldn't happen between 'allies'.

[raydan]

llama66 llama66:

His wording seems to be more directed at the West than the Russians. I thinks it's because of the emergence of fracing, to the Saudis it represents a clear and present danger to the nice and tidy monopoly the Saudis and OPEC have built for themselves. Maybe Canada should halt the arms deal with the Saudis, and refuse OPEC oil. Won't happen, I know. Not with Prime Minister Selfie in office.

Wouldn't happen with anybody in office.

[2Cdo]

peck420 peck420:

xerxes xerxes:

Actually, it's more an economic war against Russia. We're the collateral damage. Sadly.

This myth needs to die. ASAP.

Every single person in the entire global oil industry knows who is going to be the first to bite the bullet in a price war.

It isn't Russia.

If the 'target' was Russia, this was the worst possible way for SA to go about it. They would be one of the last to fall, and one of the first to pick right back up upon price increasing post price war. Completely defeating the objective of the price war, specifically for the nation that instigated it.

The target is, and always was, the USA and their substantial increases in production over the past 5 years. Canada is collateral damage, the US is not.

That shouldn't happen between 'allies'.

It's a direct attack aimed at "shale oil" that the US has, and the fact that American dependence on Saudi oil is a fraction of what it used to be.

[2Cdo]

raydan raydan:

llama66 llama66:

His wording seems to be more directed at the West than the Russians. I thinks it's because of the emergence of fracing, to the Saudis it represents a clear and present danger to the nice and tidy monopoly the Saudis and OPEC have built for themselves. Maybe Canada should halt the arms deal with the Saudis, and refuse OPEC oil. Won't happen, I know. Not with Prime Minister Selfie in office.

Wouldn't happen with anybody in office.

Unfortunately I think you're right.

But it would help Trudeau's standing with Canadians if he did. Politics is all about optics!

[Thanos]

raydan raydan:

llama66 llama66:

His wording seems to be more directed at the West than the Russians. I thinks it's because of the emergence of fracing, to the Saudis it represents a clear and present danger to the nice and tidy monopoly the Saudis and OPEC have built for themselves. Maybe Canada should halt the arms deal with the Saudis, and refuse OPEC oil. Won't happen, I know. Not with Prime Minister Selfie in office.

Wouldn't happen with anybody in office.

The incident with what was left of the Wheat Board being sold to a consortium that included Saudis as well as the $15 billion AFV deal was the reason I didn't vote for Harper in the last election. Finally figured out that no matter how many times I was there for conservatives the conservatives were never there for me, and never will be either. My withdrawal from any sort of political participation, except for ranting on CKA and other such places, is now complete.

[andyt]

Well, nobody's been willing to cut production to prop up prices, including Canada, so I'm not sure that SA can be deemed the bad guy here. There world is awash in oil, is the problem. I mean what were we willing to do for SA if they agreed to cut production for us?

I certainly would like to see us quit using imported oil, no matter what SA is doing or not. And I don't see them as much of an "ally" so selling them arms I'm pretty cool on too. Maybe I would change my pov if SA really did send boots on the ground to take on ISIS, the way it was in the news recently(only to disappear again). What I'd need to see is SA taking concrete steps of stop funding terrorism and stop with the Wahabist madrasas for me to see them as any sort of real ally.

[2Cdo]

It isn't so much about them cutting production but rather increasing it substantially just over a year ago . Even other OPEC partners have asked them to drop it back to the levels prior to 15 months ago.

[raydan]

China has been undercutting prices for years/decades now and is pretty much the reason we don't have a manufacturing sector anymore, this isn't much different.

[herbie]

2Cdo 2Cdo:

raydan raydan:

llama66 llama66:

His wording seems to be more directed at the West than the Russians. I thinks it's because of the emergence of fracing, to the Saudis it represents a clear and present danger to the nice and tidy monopoly the Saudis and OPEC have built for themselves. Maybe Canada should halt the arms deal with the Saudis, and refuse OPEC oil. Won't happen, I know. Not with Prime Minister Selfie in office.

Wouldn't happen with anybody in office.

Unfortunately I think you're right.

But it would help Trudeau's standing with Canadians if he did. Politics is all about optics!

The "optics" of cutting off your own nose to spite your face?