Before dismissing outright give the idea some consideration..
http://www.nytimes.com/2014/12/25/world/....html?_r=1
A plunge in oil prices has sent tremors through the global political and economic order, setting off an abrupt shift in fortunes that has bolstered the interests of the United States and pushed several big oil-exporting nations — particularly those hostile to the West, like Russia, Iran and Venezuela — to the brink of financial crisis.
“It is a big boost for the U.S. when three out of four of our active antagonists are seriously weakened, when their room for maneuver is seriously reduced,” Mr. Luttwak said, referring to Russia, Iran and Venezuela.
Most(including me) thought this was more about the Saudi's maintaining their market share....any chance the Saudis and US secretly planned the price drop in oil?
As much as the US and Israel dont want to see Iran with nukes, Saudi Arabia is right there with them. As for Russia, Putin and the Saudis had been talking but that relationship has been tenuous at best. The saudis have always been suspicious of Putins motives.
I for one would not be surprised at all to find out the US and Saudi Arabia and agreed to maintain production in a glutted market in an effort to cripple both the Iranian and Russian economies in hopes of weakening the leadership infrastructure of both countries.
The Saudis are going to do what they're going to do. I don't think we were involved in their decision at all.
But it's sweet to see Iran & Russia crash and burn.
I'm doubtful of any collusion as well. If the US and Saudi Arabia were capable of such action, why wait until now to do so?
I'm not so sure there was collusion from the start, but I imagine watching Russian, Iranian, and Venezuelan economies plunge has brought US and Saudi interests to the table in talks. However, I wouldn't be so sure this was planned from the start because most politicians know and understand it's never wise to try to stomp on snakes. I fear that pushing a large portion of our adversaries (who already team up against us) into a corner and on the verge of collapse may push them to do something unimaginably stupid. I hope not, but that has to be a possibility at this point. It may not come from Venezuela (less likely of the three), but Russia and Iran have no interest in losing their place of power.
I made this claim to my buddy a couple of weeks ago, when oil prices were dropping and the Rouble was closing in on 80. The Saudis aren't doing it without some kind of kickback though, so find the money and you have the story.
(12-27-2014 10:58 AM)vandiver49 Wrote: [ -> ]I'm doubtful of any collusion as well. If the US and Saudi Arabia were capable of such action, why wait until now to do so?
Im doubtful as well, however it would not shock me if they were. Keep in mind It was only 10 months ago that the Russian Ukrainian crisis began and Russian forces moved into Crimea. It would take time to negotiate such a deal between the US and the Saudis. It was in September, 6-7 months after this crisis began, that oil prices began to decline. To me that does not seem like an extraordinary amount of time to get such a strategy in place.
The move to normalize relations with Cuba is certainly meant as a jab to Russia but also may be part of a larger strategy to deal with Russia.
The Iranian Nuke deal was struck in late November..with oil prices dropping they are gonna need an end to economic sanctions. This may have been the push Iran needed to sign on.
We, Israel, and Saudi Arabia work together on far more things than you can imagine.
(12-27-2014 10:09 AM)BobL Wrote: [ -> ]Most(including me) thought this was more about the Saudi's maintaining their market share....any chance the Saudis and US secretly planned the price drop in oil?
I have felt for a long time that the US and Saudi Arabia collude on oil prices outside of what OPEC does. I think Saudi Arabia held oil prices low after Gulf War I as a form of repayment to the United States for intervening. The US has some mixed interests in oil prices currently ... some will lose if they have to halt production here in the US, but I think that the overall economy will benefit. On the other hand, relations between the Obama Administration and Saudi Arabia are horrible, and it seems to me that the Saudis are acting unilaterally here... it's coincidental that our interests align... mostly along an Arab-Iranian fault lines (including Venezuela, which is curiously an Iranian ally).
(12-27-2014 01:09 PM)Owl 69/70/75 Wrote: [ -> ]We, Israel, and Saudi Arabia work together on far more things than you can imagine.
I expect so. Too bad they could not give us a heads up on all the 911 hijackers. Maybe this is a payback of sorts?
The magazine Oil & Energy Insider has also done a similar analysis of regarding collusion between the US and Saudi Arabia.
Link
The Saudi's would be much smarter to throw their hat in with the USA than the motley collection of Russia, Iran and Venezuela.
(12-30-2014 10:51 AM)vandiver49 Wrote: [ -> ]The magazine Oil & Energy Insider has also done a similar analysis of regarding collusion between the US and Saudi Arabia.
Link
Interesting article, I had forgotten about the meeting in September between Kerry and the Saudi's. Interesting to note that the price drops began in September. Oil prices were right around 100/barrel at the end of august.
(12-27-2014 01:09 PM)Owl 69/70/75 Wrote: [ -> ]We, Israel, and Saudi Arabia work together on far more things than you can imagine.
It's naive to think otherwise....
I can't believe the question was posed....
(12-30-2014 11:10 AM)Lord Stanley Wrote: [ -> ]The Saudi's would be much smarter to throw their hat in with the USA than the motley collection of Russia, Iran and Venezuela.
ya think?
can't believe we would form an 'alliance' with the largest opec producer and assure them their bread will always be buttered....
don't discount that we could annihilate them if we wanted to.....
it is the last comment that spawns global hatred towards the US.....
there is a reason the saudis don't get overrun by their neighbors....at least not yet....
(12-30-2014 02:38 PM)stinkfist Wrote: [ -> ] (12-27-2014 01:09 PM)Owl 69/70/75 Wrote: [ -> ]We, Israel, and Saudi Arabia work together on far more things than you can imagine.
It's naive to think otherwise....
I can't believe the question was posed....
Clearly you are wiser than the rest of us...
(12-30-2014 04:21 PM)BobL Wrote: [ -> ] (12-30-2014 02:38 PM)stinkfist Wrote: [ -> ] (12-27-2014 01:09 PM)Owl 69/70/75 Wrote: [ -> ]We, Israel, and Saudi Arabia work together on far more things than you can imagine.
It's naive to think otherwise....
I can't believe the question was posed....
Clearly you are wiser than the rest of us...
I'll agree....it's highly likely....
to each his own.....this is nothing more than 'another' politico whatever bbs
does, ".....grain of salt" ring a bell?
(12-30-2014 11:10 AM)Lord Stanley Wrote: [ -> ]The Saudi's would be much smarter to throw their hat in with the USA than the motley collection of Russia, Iran and Venezuela.
It says something that, when US-Saudi relations are at there worst since at least the creation of OPEC in the 1970s, there is still enough co-operation for something like this. It wouldn't surprise me that the Obama administration would collude with a foreign power against domestic production ... I imagine they'd take that as the easier path than publicly opposing the Keystone XL pipline, but I wonder if they've given up on funding alternative energy sources? Granting oil isn't the biggest competitor to wind/solar/etc, but they've never displayed a lot of savvy with regards to economics on that issue.
(12-30-2014 04:21 PM)BobL Wrote: [ -> ] (12-30-2014 02:38 PM)stinkfist Wrote: [ -> ] (12-27-2014 01:09 PM)Owl 69/70/75 Wrote: [ -> ]We, Israel, and Saudi Arabia work together on far more things than you can imagine.
It's naive to think otherwise....
I can't believe the question was posed....
Clearly you are wiser than the rest of us...
You must be new here. Most of the rest of us are well beyond sarcasm, and went straight to ignore.
As of 3:03 P.M CST a barrel of West Texas Intermediate crude oil is sitting at $49.90. For $42.48, you can get a fifth of Wiser’s Legacy Canadian Whisky - decent stuff, but nothing fancy.
If you’ll excuse me, I’m off to buy myself a barrel of oil which is a better dollar per volume than mid-range hooch.