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Originally Posted by JJ Gold
OPEC is trying to stop the U.S. from becoming energy independent. Oil demand is weak due to a slowdown in the global economy (China). Normally OPEC would cut production. In their recent meeting they voted to maintain current production levels. Their motivation is to drive out U.S. domestic oil production which becomes unfeasible below $70 a barrel.
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Great answer.
Quote:
Originally Posted by DBS.US
Give people cheap gas, nobody buys electric cars, car makers stop making electric cars and start making more trucks. (auto companies make more money with trucks )Then gas prices go back up and gas companies make more money with higher prices,
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High gas prices is not the only reason why people buy electric cars. I bought mine for many other reasons. I'd buy another electric in a heartbeat - I'll never buy a gas car again.
Quote:
Originally Posted by SilentKnight
Saudi Arabia attempting to devalue the Alberta tar sands supply to the U.S.
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Very possible, and I hope they do. Hopefully this will reduce interest in the Keystone pipeline too.
Quote:
Originally Posted by Due
It's because of the sanctions against Russia.
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Also interesting. The price drop in oil seems to have a lot of benefits.
Quote:
Originally Posted by JJ Gold
If oil prices stay at this level for 6 months the U.S. economy will be in recession. The energy sector has been the primary driver of the economy this decade. A sustained decline in oil prices will lead to massive layoffs that will roil the economy and GDP will contract.
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Why would this happen? I don't understand that. Wouldn't less money spent on energy mean more money for consumers to spend on other things? I heard last week that cheaper energy is already saving the average consumer about $600 a year.
Quote:
Originally Posted by pornmasta
For France, it will be for sure methane made from crap
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I'll guess that this won't affect France much. Most of France's electricity comes from their own Nuclear power plants. They had a chance to buy energy from Russia a long time ago but chose a smarter route I think.