OPEC fracks us 2 of 3

OPEC FRACKS US part 2

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Responsible party who sent the book "Scatter, Adapt and Remember", I received in Monday's mail.  While the second half looks WAY too optimistic and hopeful, I love the look of the first half's history of near extinction events.  Many, profound and embarrassingly deep thanks!!
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Continuing to poo-pah the theory that the Saudi’s are dropping their oil price to destroy the US fracking industry, today we’ll start off talking about how low oil prices are the last thing the Kingdom needs right now.  When you live in a sandbox, one that barely supports a couple of camels, and you have lots of oil, naturally petroleum extraction is going to be about 100% of your economic revenue.  For one thing, you turn around and buy food from some place that can actually grow the stuff.  You know, because they have water and soil ( rather than sand and oil ).  And there is a lot more food to buy as the population of largely unemployed youth, who are also not going to be thrown out of the welfare line to leave them to revolt, have a lot of time to breed like rabbits.  Hey, when God says “have more babies to smite the infidels”, you don’t argue with him just because the nearest Taco Bell is a few thousand miles away. 

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A growing population on welfare, with a growing demand for imported food, requires MORE money over time, not less.  Higher oil prices literally keep the heads sitting atop the rulers shoulders.  Then there is the issue of the Saudi’s main oil field getting so long on the tooth the seawater cut was in the ninety percentile.  And that was ten years ago.  At the time, a mad orgy of drilling went to the offshore fields.  One could reasonably assume, as reasonable as it is to assume in the face of a secretive government admitting to no production declines and even lying about all figures, that it is, today, taking far more energy and money to keep their production figure up as far as they are.  How does that work with declining oil prices?  Please hold off reaching for your MENSA cards in your wallets as I state the obvious.  It don’t, Einstein. 

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Now, what if at the same time you had to buy more food to feed more Muslin baby factories, AND your cost of extracting your revenue stream was increasing, you ALSO had a couple of regional wars going on.  Instead of just slowly buying military arms, you were in the process of having them get blown up or wore down and even if you didn’t replace much of anything except ammunition ( and the fuel you resupplied which was a further drain on your revenue as oil used is oil not sold ), war is still not exactly cheap.  Hell, even if the war was just neighborhood occupation, that crap doesn’t come free in a box of Kosher Sheep Eyeballs.  Dead Sheiks still have to be earned and spent, yo! 

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In short, even assuming you believe free money could be used to subsidize our fracking industry at $100 a barrel market price but for some strange reason you couldn’t do that when that price fell to $50, how can you believe the Saudi’s can afford to intentionally destabilize their country in a bidding war?  More next article.

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