Politics of Energy Message Board

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Politics : Politics of Energy

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To: Brumar89 who wrote (79575)	12/8/2017 12:06:16 PM
From: zzpat	Read Replies (1) of 86350

Iran's oil infrastructure is a disaster. It'll take years for them to flood the market with their oil but before that happens the US or Saudi Arabia will start a war or put sanctions back on Iran. SA needs $60 oil. So does Russia. Lifting sanctions on Iran and ending the wars in the Middle East destroyed the record oil prices created by government. It's this obsession with government intervention that keeps oil prices from falling further. IMO, there's no reason oil should be above $30. As of now oil from shale in states like ND is profitable again. At $30 it's not. In an odd twist of ironies, it was record oil prices that made shale cost-effective and gave us the global surplus we now have.

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