Interesting what's going on with oil prices as they continue to drop and possibly to $20 a barrel. I was reading that the banks have heavily invested in U.S. oil drilling and are bracing to be whacked by them folding up operation and going bankrupt.
Iran's sanctions on exporting oil has been lifted and they are scheduled to release up to 1.5 million barrels a day which is massive. All their tanks are full and so are storage ships in ports right now. They need the money and quick.
Opec use to keep everyone in check but I'm reading that's pretty much gone out the window. Russia is taking it up the azz with these low prices. They depend on oil exports.
I'm wondering. Is this all a game that the oil producing countries have done to put everyone in the U.S. out of the business of drilling oil and looking for alternative energy then come back again in the future and raise prices?
I'm sure the cost of fuel has had an impact on lots of people so far like running a generator more and more and things along those same lines.
Iran's sanctions on exporting oil has been lifted and they are scheduled to release up to 1.5 million barrels a day which is massive. All their tanks are full and so are storage ships in ports right now. They need the money and quick.
Opec use to keep everyone in check but I'm reading that's pretty much gone out the window. Russia is taking it up the azz with these low prices. They depend on oil exports.
I'm wondering. Is this all a game that the oil producing countries have done to put everyone in the U.S. out of the business of drilling oil and looking for alternative energy then come back again in the future and raise prices?
I'm sure the cost of fuel has had an impact on lots of people so far like running a generator more and more and things along those same lines.