"The Saudi's may be trying to break the American Oil Industry...

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walk-it-off

679 Posts.

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21/04/20

14:37

Post #: 44167394
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Originally posted by Pottermore: ↑

I'll take a contrarian view.
FAR are in the best position of all those that are in the Oil Industry at the moment.
They have not spent the money that they have in their account as yet.
They would be in a far worse position if all their money had been spent and they were closer to or in production because they would have to sell Oil to pay their way.
At the moment I don't think that even WPL will want to proceed with this development at this point in time.
Saudi Arabia is flooding Oil into the USA and driving the price down.
The Saudi's may be trying to break the American Oil Industry ... especially the Shale producers .... but the outcome may be worse than they calculated.
Their plan was with the view of causing a sustained increase in the price of Oil.
This Oil price fallout will break many companies in the Oil Industry in my opinion and some major corporations will also go to the wall.
No-one is too big to fail in this environment.
FAR to survive and I believe that they can if they make good decisions ... IMHO they need to reduce Staff massively and cut salaries by 60% + for those senior executives that remain and petition the JV to mothball the development of Senegal maybe for a long period.

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"The Saudi's may be trying to break the American Oil Industry ... especially the Shale producers .... but the outcome may be worse than they calculated.
Their plan was with the view of causing a sustained increase in the price of Oil."

I'm hoping we (the States) do not let one more Saudi oil tanker offload at US ports... turn them away.
Their tankers can then become their very own mobile floating storage facilities.
Destination?... I don't give a damn.
China would probably get it at an extremely discounted price.
We should have done this several weeks ago.
It can be done by executive order from President Trump in 2 minutes.

FAR Price at posting: 1.4¢ Sentiment: Hold Disclosure: Held
11 Upvote

0 Great analysis

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