Originally Posted By: Bill D.
Originally Posted By: stickem'
I paid $2.89 for diesel at the Shell station east of Livingston, TX this past week...cheapest I paid for diesel, so far. Not sure how long this will last. The Saudi's and Arabs (OPEC) are intent on breaking the Russian's backs financially like Reagan did back in 86'....Russia's lifting cost profits are based on $80-100 a barrel crude. With OPEC flooding the market, its killing the soviets financially.....until something changes in the political world, enjoy the lower prices. It WILL change...
Charlie


I wonder what the China influence is in this political game. I just read somewhere they buy the vast majority of their oil.


Bill,
Other than a consumer, China should not pose as an influence as oil prices are set globally by supply and demand through OPEC. China gets its crude oil cheaper due to OPEC refusing to curtail their supply, therefore producing a glut which drives the global price down. China can buy from any oil producing nation that will sell to them.
Charlie

Last edited by stickem'; 12/28/14 08:32 PM.
...when in doubt...set the hook...