>>25780928 >peak of the oil price hike during the bush years >inflation is out of control >supply of oil isn't enough to meet massive demand >prices go up twofold >in order to cope with massive price rise due to inflation, it now becomes profitable to take oil from places it previously was not possible >Canada goes from being a passive oil power to very powerful >Russia also gets a big economic boost >suddenly inflation goes to 0% >demand stays the same but production still rising >gas prices drop like a rock
>>25781015 >>25781034 these. also i think Iran or some other coutry around there is selling and producing literally unprofitably large amounts of oil to cuck a few other countries and hope that their economy collapses
The best unconventional oil reservoirs have a break-even point of around $50/bbl. Oil is now $30/bbl. Oil is cheap because Saudi Arabia is trying to starve out foreign oil companies by driving down the price to a point where only they can sell oil profitably. Saudi oil is very cheap to produce, with reservoirs that can produce profitably as low as $10/bbl. Saudi Arabia is also starting to produce unconventional natural gas, with the goal of running their entire nation on natural gas so they can sell all their oil.
>>25782388 >A process that was invented in the 1940s is just now making oil easy to produce >Fracking is cheap
Wanna know how I can tell you don't know what you're talking about?
Oil is going down cause the demand is dropping for gas. Less people today buy cars and not a lot of people but gas meanwhile the production for gas has skyrocketed. Canada and russia economy are both in the shitter because of it while markets all over the world are in free fall. Fucking millenial neets are fucking up the world economy and gonna cause ww3
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