Thom Payne of Westwood Global Energy Group says the U.S. shale sector is “weak” at the moment.
Russia ‘smells blood’ in the US shale sector, analyst says | Street Signs Asia
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Thom Payne of Westwood Global Energy Group says the U.S. shale sector is “weak” at the moment.
Oh no way
Imgaine these people are fighting during a Pandemic , we must over react , but this 100% is stupid.
well… I like paying less for gas. And this pandemic is no where near as bad as the Swine flu pandemic in 2009. 60million people where affected by that and 300k died.
if the shale guys cant get it out of the ground for less than 60 a barrel then its not a viable business
@Albert Moore they can’t barrel costs in us is 60 to 80 american oil industry well go bankrupt next 3 weeks if this continues.
But they said Russia was just a gas station last week. I don’t get the whole Russia is a boogeyman everytime someone goes wrong in the U.S. Here’s a wild idea, maybe they got tired of the U.S taking Market share every time they cut output. This is why folks don’t trust the news.
RUSSIA HAS LEARNT NOT TO DEPEND ON INCOME FROM OIL EXPORTS BECAUSE THAT LEAVES THEM VULNERABLE TO THE MANIPULATION OF PRICES BY THE SAUDIS AND UNITED STATES…..
Exactly why a cartel control the price let the market decide After all trump SHOUTS NO SOCIALISM.. AND blame SOCIALISM creating problems in Venezuela and blame MADURO for following socialist policies
seems like americans have for political reason protect fracking technology
Lower gas prices, lower prices on just about everything. I can live with that.
Lower transport
@richard mccann Or we could simply lower taxes on oil producers and consumers, we are no longer dependent on OPEC for our oil because of Shale oil production. So the Russians and the Saudis can go pound sand.
Russia is so stupid ! Small US shale companies may fail, which is sad .
But the energy is still there for more resilient companies to buy them up cheaply and make a profit later. Meanwhile Russia sells cheap energy and makes little ! Stupid ! Long term the US wins-again!
Remember the ‘one man brought down the financial maket’ spiel back in the year of grace 2008 ? The fracking bubble will bring down the big’uns as well
shale companies may fail, which is sad .
AND YOU CALL SOMEONE ELSE STUPID??
Us shale is a ponzu game and no ponzigame lasts forever.
Americans invested in shale, not the Russians. But when the investment turns sour, it’s Russia’s fault. Got it.
The blame game is the norm of the US government now!
@Stern Daler ……..for a short time only, ditship, and not nearly as much as you expect……
@John Smith You are too hard, aren’t You. 😀
Russia is also diversified into gas, wheat and weapons exports.
Competing with the US, and that is Russia’s fault too.
The progress i can get
Let drop oil to 8$ a barrel for about 6 months and fill the air with co2 so more plants can grow will are way under in levels
Shale oil & gas have benefited the U.S. & world economy tremendously with low energy prices; OPEC has lost it’s grip on the oil market. Shale oil has provided inescapable sanction against Russia and Middle Eastern Countries who have been funding notable aggression. ie: Syria, Lebanon, Palestine, Yemen, and Ukraine. Shale oil production has been a significant U.S. Foreign Policy aid.
Fracking is a short term production, not long term like conventional drilling. Fracking has a shorter life, and costly. Therefore vulnerable to when the barrel price goes below $50.
The notable aggression is always from the USA!
Shale producer’s should be subsidized, when oil price is lower than production, for the simple effect of keeping the oil market somewhat over supplied and prices low which reduces money in the hands of troublesome governments funded by oil money. Sort of like a sanction that lightens the load on everyone’s wallet :p A sanction from which there is no escape. Also helps with reducing the U.S. trade deficit while oil imports are greatly reduced or eliminated. That strengthens the U.S. currency exchange rate.
For those of you who are in a hurry for renewables, realize that there’s a lot of energy invested in producing renewables. If energy is not abundant, or priced to make it readily available, then producing renewables comes at a high price, and high prices for much of what we consume. A market with little excess capacity, at a fair price (not-OPEC), is easily tipped to high prices. Shale oil & gas enable creation of a significant volume of renewables without driving our energy market back into high pricing that seem like some form of extortion.
Hahahaha how’s that for capitalism??
Capitalism is supposed to allow unprofitable business to go under!
You already subsidised Wall Street in 2008 with trillions of taxpayers dollars.
That money was taken out of workers and put into the rescue of the banks.
Take from the poor give it to the rich!
That’s the Robyn Hood style of the wild West in 21st century.
It is the biggest con job and robbery of not the century, but probably of the millennium!
But docile masses don’t get any of this what’s going on.
So, now needs to be another round of subsidies??
Capitalism? Hahaha hahahahaha
@Jack Trade I advocate subsidizing the shale industry while they are useful in amplifying sanctions against Russia & Iran by reducing their oil income. In present market condition the shale oil industry is keeping the oil market oversupplied. The subsidy would only apply to non profitable shale producers and the policy in-force while Russia & Iran sanctions exist. The U.S. Energy Information Administration estimates that in 2019 that tight oil resources in the United States accounted for 63% of total U.S. crude oil production in 2019. So this suggested subsidy appears to do nothing for at least 37% of U.S. producers.
@Jack Trade At present, the current Saudi/Russia oil war, shale oil’s market oversupply has helped keep the price of oil derived products low. You would seem to think the poor don’t benefit. Shale oil production in the U.S. is a small fraction of the total oil market yet its presence pulls the market price down substantially. That’s a lot less money in nefarious Middle Eastern, and Russian Government hands.
@Rusty yB American sanctioning of other nation for their own agenda and protecting medieval abomination called Saudi Arabia which formed petrodollar, while attacking Iran is slowly coming to a close.
70 years of non stop warfare since ww2 has to finish sooner or later.
Not even trillion dollar military industrial complex can do anything about it.
China is already economic and military giant, their time is yet to come.
@Jack Trade Shale oil in the market helps deplete the Saudi Government treasury. I’ve heard it said the Saudi’s need $80 oil to balance their budget. I don’t see anything wrong with unfunding the government’s of the Middle East that are depending on oil revenues. Better for them to realize they need employment of the ingenuity of their people in order to realize a wealthy country/society.
If gold goes to 1000$, Russia will not be able to finance their oil war. Saudi Arabia can hold out a little longer.
Shale has always been very expensive inefficient and toxic to drinking water, it’s also ONLY profitable at certain thresholds (high oil prices). The vast majority of US Shale oil companies are completely saddled with debt, this is a bubble that will burst- oil companies go under won’t be able to pay back banks, banks go under.
Correct. Shale frackers bankrupting.
Yep, junk bond burning!
We ecpect more bankrupties on the shale oil companies because they are inefficient and high cost….but expect bailout from the US gov
The Russians will stick to their guns, once the Saudis collapse… they are the lone player in the market. Giving this at least 12 months, shale companies won’t make it through the summer without a bailout. Even if they are bailed out, they won’t be profitable without the petrodollar in effect.
US is an old tiger with no teen with barely roaring able. Good news to see US shale oil is gping to bankrupt soo. Good for Environment.
the employees deserve to go jobless.
Fake jobs.
Compare Corona pandemic to US pandemic. The US pandemic kills usually hundreds of thousands per year. It’s victims loose arms, legs, their eyes and their minds. It destroyes and destabilises countries. It Paracites on taxpayers who are also it’s victims. It does not go away seasonally or die out or lend itself to any inoculation. It just gets worse and more established. It is the US Murder Industry Virus. Some call it by it’s old name..Military Industrial complex. It needs a powerful new medicine to poison it out of existence.
Joss Fitzsimons Joss I could not have said it any better .Well done
A very deep thought to put those sentences together. Great job.
@Arne J Thank you
@Arne J Thank you.
Quid Pro Joe will be no Ho-Ho. His investment in turning Ukraine into the worlds fracking capital is …eh…demented.
I am so happy i got low gas prices in the US.
yeah – it is Saudi Arabia that is over producing oil, making the prices go down, but behind that behavior there is the Russian plan to destroy the shale oil industry in the United States … these globalist media have no limit in manipulating people….
It’s already a dead fish the shale hoax, it never produced a single cent as a profit
Time to bring Freedom and Democracy to Saudi.
90% of US citizens would have no qualms in losing the Shale Frackers..
The tittle should be:
Russia are not willing to subsidies US shale industries
Frackers are in Ukraine, courtesy of the U.S.
putin gave the usa cheap gas feel the love.
Saudi Arabia are not stupid. They know that the transition to electrification is coming and they are cashing in their chips as well as knocking out competitors to squeeze the last few trillions out of their oil supply in the last decade or so.
Bailout time socialism for corporate America
Russia is losing Saudia are under cutting russia in the oil market. Trump will only allow America to buy American oil so they don’t fo bankrupt
Russia again? Ahaha
They cant stop.
Cooksuckers, russia did not just flood the market and discounted their oil, Saudi Arabia did.
Just tax imported oil. Also as soon as it rises above $60 shell will restart. So exp gas could be endangered.
This guy’s hairstyle tells me he just got back from the future.
Keep hurting USA and Saudi Arabia because they are doing their best to destabilise Syria Venuezuala and other producers…They deserve some hurt because they have been inflicting their dirty destabilising forces worldwide for too long
Putin drafted his PhD thesis on oil and gas. He knows he holds the Yankees by the balls… the problem with the US arrogance is that it often leads them to underestimate the others… The Saudis pretend they pursue a different agenda (bringing Chia Iran on its knees) but they arent too sad about the US shale going belly up…
Yup US thinks other super powers don’t know US weak spots are even with sanctions those countries if smart like Russia can position themselves to strike back at the US like a tiger. US thinks it’s invisible well payback is something. Yup Russia Saudis teaming up against US shale soon Petrodollar will be replaced with Petroyuan then game over for US psychopaths. I think US will launch war in middle east to raise oil prices h
We have lunatics here in this call America and the petrodollars coming to an endthe Fiat money will be over why the beast takes hold of the rest
Nice
Stop playing the Blame Game with your stupidity.
Mess with our oil and gas Nordstream 2 pipeline project and we will mess with your fracking oil and gas industry. The problem with you Americans is that you do not want to do business in a FAIR WAY! That is your number one problem that you must solve first.
Ssudi Arabia lowers sale price and boost’s production and Russia is to blame . fake news .
Ok. So where the blood come from.. or the blood was there from the beginning… Or why should other countries cut production..why usa doesn’t cut the production.. ?
What a load of Bollocks…
we are buying from Russia
Why does Trump not pick up the phone, call MBS, and tell him to knock it off? This is commercial warfare against a major American industry. We prop up the bone saw dictator and put up with this too?
IF AMERICA CANT SUPPLY IT’S OWN OIL IT WILL JUST GO AND MUSCLE OIL FROM OTHER COUNTRIES AND CREATE UNNECESSARY WARS AND SLAUGHTERING INNOCENT PEOPLE TO FULFILL THEIR NEEDS
THEY HAVE DONE IT BEFORE !!!!!!
Oh those Russians ! 🎵🎶😊
Don’t worry Folks 💪In the Year 2090. All this will Be History 💪
So America took high loans on US shale because it thought that the Russians were always going to abide by oil restriction, even though Russia has no reason to and is under sanctions.
Now that Russia is *actually* producing, Shale cant cope.
This man’s hair is that of a man who ran to this interview.
MBS, the Saudi Prince opened the oil valve, so why is the West again cranking out more propaganda—-Putin Did It!
Since it’s America first for the orange bufoon and economic sanctions for others, threat of sanctions over NORD Stream 2, so why Russia cut production which benefits Shale/U.S oil industry the most. FCUK EM!
Why always Russia, did USA joining Saudi and Russia talk about this?
I am glad and proud that I personally blocked USA effort to enticing Taiwanese money into investing in USA shale, Chesapeake bay, one of the best shale block.and now proven I was right.
Yup US has been using economic terrorism against countries who it opposes. US thinks other super powers never would figure out a way to unshackle themselves from US economic terrorism US think other superpowers would never return economic terrorism even with sanctions those countries if smart like Russia can position themselves to strike back at the US like a tiger. US thinks it’s invisible well payback is something. Yup Russia Saudis teaming up against US shale soon Petrodollar will be replaced with Petroyuan then game over for US psychopaths who think they deserve to rule the world. I think US will launch war in middle east to raise oil prices. US only responds to major threats to it’s economy and it’s economy on verge of collapse so it will launch a war to increase oil prices and as form of distraction away from pandemic war will 1. Raise oil prices 2. Jumpstart US military industrial complex 3. Jumpstart US economy too benefits for US not to launch war
It’s alway Russia hah..?
Translation please … could not understand anything …