Skip to comments.Iran Accord Likely to Push Oil Prices Down [1 Million Barrels a Day Could Return to Global Markets]
Posted on 11/24/2013 3:05:43 PM PST by WilliamIII
Oil prices are likely to drop, analysts said, as the nuclear accord between Iran and six world powers potentially paves the way for more crude oil to reach the global market.
(Excerpt) Read more at online.wsj.com ...
And unicorns will deliver the mail, and Leprechauns will brew beer and give it away for free...
Costs about $95 to get oil out of the ground in North Dakota. There isn’t going to be much drop.
Zero will do anything to kill the US fracking plays.
What a simplistic and superficial analysis. It has always been the case that as the Middle East erupts in conflict and war, the price of oil goes up. If I ere a speculator I’d buy up oil when this dumb line of reasoning drives prices down.
This so-called agreement will bring Iran and Israel right to the brink, with the U.S. becoming totally relevant. That is a recipe for disaster.
You said: What a simplistic and superficial analysis.
Good point. Restricting the purchase of oil from an oil-producing country doesn’t drive prices up, and easing those restrictions — and increasing supply — doesn’t drive prices down. I wonder what grade you got in Economics 101.
As China becomes their primary customer it will be interesting to see the attitude going forward. My guess is the commies will be a much more controlling customer.
aren’t we giving them $8 billion which will spent on building nukes?
Right now WTI crude is selling at $94.84USD a barrel.
Sorry to be a heretic here, but if Reagan could strike a deal with the Soviets (and a lot of conservatives blasted him for it at the time, myself included ) .... I don’t see why we can’t strike a deal with Iran, especially if it puts our people in their facilities, monitoring them continuously.
It’s weird to me that a lot of conservatives today seem to hunger for war with Iran - and no other “solution” to the Iranian issue will satisfy them. How many wars did Reagan launch? He won the cold war, and he did it without starting any “hot” wars. In contrast, we have the George Bush example - invade Iraq. What, exactly did that get us?
The Saudis are against this deal with Iran. Think it has anything to do with their desire to keep Iranian oil off the market so oil prices stay up? Nah, that couldn’t have anything to do with it. !
And if our gas prices go down, that’s all that matters.
Who is hungering for war with Iran?
This is the kind of weakness that starts wars.
The best way to avoid war is to look strong, that is how Reagan did it
Since you asked, I got As in every econ class I ever took. I wonder what grades you got in English and logic because your post doesn't seem even remotely relate to the point I made.
Here it is in English at a much simpler level. The agreement whereby the US turns a blind eye to Iran's intent to build and use nuclear weapons has removed all incentive for Israeli restraint. When Israel launches a massive attic on Iran and it's military and industrial infrastructure (including the aforementioned oil producing sites) a broader war will erupt in the Middle East. War in the Middle East ALWAYS reduces supplies, ALWAYS increases costs of production and delivery and makes speculators very nervous and ALWAYS drives oil prices through the roof.
Do.....you....understand.....now.....? Or should I say it even slower?
One million barrels a day is a very small drop in a very large bucket.
When Israel launches a massive attic on Iran
Get back to me when they actually do that, and I’ll send you a gift certificate for a night out at Red Lobster. Because it’s not gonna happen.
That's a bit like saying it might be possible to strike a deal with the Nigerian banker who keeps asking for more small payments before releasing the $10 million you inherited that he's holding.
The fact is there is no will for peace with the Iranians mullah's, there never was any intent for peace with the Iranian mullahs, and any attempt to negotiate peace by the Iranian mullahs is a cynical deceptive effort on their part to extract more from the other side. If you don't believe it, then go ahead and keep exchanging emails with the Nigerian banker.