Wry are gas prices so low right now?

that woman has gas

Saudis are driving them low to remove competition

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>>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

I hope that was simple enough anon

>>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

>>25780958
In her car?

>>25781034
Fucking idiot.


Fracking has made oil easy to produce.

>>25781034

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?

>>25780928
Yellen stopped spinning the presses.
Don't fight the feds. We will get another Greenspan when the old lady leaves.
Invest in Commidities
Buy
Buy
Buy

>>25781015
>>25781368
>tfw you do this shit constantly in MMOs to discourage other faggots to leave the market forever
I fuck so much pussy every night.

>>25780928
The Americans started drilling their own and selling at a loss(?) to drive prices down. Seems to be going well, the USD has sky rocketed. Permanently?

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

>>25781015
This.

If you followed the news at all, you'd know this. Basically the Saudi's are cucking us right now to regain the upper hand in the oil market.

>>25782388
Fracking is very costly. Right now oil companies arent doing Fracking cause of its cost. it's not worth it for them at the current oil price.

>>25780928
When I got a car 4 1/2 years ago, I was paying up to $65 to fill up a tank. Nowadays I hardly break $30, and I have a car that has much better fuel economy too. It's awesome.

The simple reason is supply was increased and demand slowed.

There is the complex explanation of all the factors involved but I don't really feel like going into it.

If you want more detail then look it up.