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Schlumberger Limited Message Board

  • onedrill onedrill Jun 10, 1998 7:51 PM Flag

    Is a killer runner around

    Am I the only one who believes that the recent
    action in the oil industry is the OPEC response to our,
    the US, involvment in the Middle East. Think about
    it. What better way to kill the oil industry in the
    US then by continuously flooding the market with
    oil, driving down prices and profits. As the shake out
    continues it only strengthens the OPEC position for future
    higher prices. But even longer then that is the security
    issue that will arise when we are importing 60-75% or
    more of our, US, oil demand. They will have us by the
    pinky then folks as smaller independent companies go
    out of business. The same companies who have taken up
    some of the slack since most of the majors are now
    I am not a pessimist but this picture looks
    somewhat dangerous for us folks on the North American
    continent. The OPEC folks see the USA as a "cash cow" as we
    buy and ever increasing % of our oil from them. What
    is going on here is strickly a business choice, a
    choice to again distroy whatever oil industry we have in
    America and put the US at the mercy of these countries.
    All of this while we worry about size of Slicks
    The question is one of who is this price
    action helping? We, the USA is being hurt much more then
    the folks who can turn a 7" valve and flow tons of
    oil at .05 to .25 cents per bbl lifting costs. It
    keeps us Americans happy dosen't it. Great economy,
    cheep gas, plenty of jobs. Problem is we are all going
    to pay through the shorts one of these days and we
    will end up paying for what we want with the blood of
    our sons and daughters.
    Good trading to all!

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    • Yes, and those same arguments were true for the
      past 15 years.

      So people ask the question? What
      is our federal energy policy?

      you've never lived for an extended time outside the USA,
      in an oil exporting country.

      My friend, OPEC
      is addicted to selling oil. And some key member s of
      OPEC are strong US allies, against some regimes who
      want to undermine our great country ( Iran, Iraq,
      Libya, etc).

      We can't cut off the royal family of
      Saudi Arabia, can we???
      Do you know how much fire
      power we have in place in Saudi?
      Not to mention
      their island buddy, bahrain. Or Kuwait.

      countries depend pretty much solely on oil to feed their
      people, and maintain their lavish lifestyles.

      you visited this region? Do you know their new found
      standard of living? Do you think they want to loose

      Think about it.

      Then you'll understand that the
      US oil industry is on its own.

    • You are dreaming...Most Mid East and OPEC
      economies are on the brink of financial disaster. They have
      no room to play with cut backs to drive the Western
      companies out of the industry. They risk civil unrest with
      any production or revenue cut. They place much more
      value on their personal survival than on the potential
      demise of the West (I believe Russia proved to the world
      the folly of the that sort of thinking!)

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