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Re: Oil at $61/bbl - Top THREE Reasons Saudis are keeping price down

Posted by WillD on Thu Dec 11 09:13:20 2014, in response to Re: Oil at $61/bbl - Top THREE Reasons Saudis are keeping price down, posted by AlM on Thu Dec 11 03:21:05 2014.

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Then the minute the Saudis raise the prices, big US oil companies whose income isn't all dependent on US oil production immediately reopen the North Dakota oil fields that they bought at the bankrupcty sales

That assumes they can get the credit to restart those operations. A few lenders are going to lose their shirts along with the energy companies if prices continue to decline. In the future those lenders, or the people who replace them, will likely be a lot more circumspect about the risks involved in attempting to take on an industry where one country can exercise such total control over the commodity price. It'll be a lot harder to prove a business case closes when your presentation has to include "assuming the Saudis don't crash the price of oil again" somewhere in the financials.

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