Dummy Boy Loc: Michigan

I guess gasoline isn't as profitable...start selling still profitable assets:

http://www.bloomberg.com/news/articles/2015-10-14/oil-fall-means-almost-everything-for-sale-as-deals-accelerate?

Dave Loc: Upstate New York

I'm guessing you are surprised that declining prices might reduce or eliminate profits and/or that in such an environment businesses might make changes in their investment strategies.

Pulfnick Loc: Knoxville, TN

No, not cashing out. Simply conducting normal business.

Dummy Boy Loc: Michigan

No, I'm not surprised...this is exactly what the UAE was hoping for.

Dave Loc: Upstate New York

...and the Obama Administration?

Dummy Boy Loc: Michigan

Do you wish to elaborate.....do they own stock?

Dave Loc: Upstate New York

I'll help you figure it out - OPEC (not just the Arabs) sees the extraction processes used in America as a real long term threat to their dominance of world wide oil prices. Knowing they have far lower extraction costs, they are flooding the market in order to drive out the competition in the US. Once successful, they can return to their ability to control prices far higher - thereby causing higher oil prices in the USA.

Obama has been an advocate for higher prices in the USA. While taking a bow for the economic gains caused by lower oil prices that he had nothing to do with, his "environmental" religious beliefs find higher carbon energy prices the hold grail - that's why he appointed an energy czar who wanted to find ways to get American prices up to European standards - in excess of 7 bucks a gallon gasoline.

Thanks for the opportunity to round out your knowledge.

Dummy Boy Loc: Michigan

I worked in the oil industry, how 'bout you?

Pulfnick Loc: Knoxville, TN

So did I, actively involved in developing and sustaining business. Now, what were you, a Human Resources clerk, that you demonstrate no knowledge whatsoever of the oil industry - or of economics in general? Either you are lying about having been in the oil industry, or you never had any contact whatsoever with the business end of the industry.

Dave Loc: Upstate New York

Are you suggesting that what I said was wrong? It is possible to understand markets without having working in a specific industry - and for those who do have specific knowledge of an industry and would comment on the comments of others they'd do so with something other than citing their alleged and simplified work history.

Dummy Boy Loc: Michigan

I was just curious.

PulletSurprise Loc: Columbus, GA

DB says,
Which president agreed to buy Russian Plutionium?

The Megatons to Megawatts Program, successfully completed in December 2013, is the popular name given to the program which is also called the United States-Russia Highly Enriched Uranium Purchase Agreement. The official name of the program is the "Agreement between the Government of the Russian Federation and the Government of the United States of America Concerning the Disposition of Highly-Enriched Uranium Extracted from Nuclear Weapons", dated February 18, 1993. Under this Agreement Russia agreed to supply the United States with low-enriched uranium (LEU), obtained from high- enriched uranium (HEU) found to be in excess of Russian defense purposes. The United States agreed to purchase the low enriched uranium fuel.
The original proposal for this program was made by Thomas Neff, a physicist at MIT, in an October 24, 1991 Op-Ed in the New York Times. On August 28, 1992, in Moscow, U.S. and Russian negotiators initialed the 20-year agreement and President George H. W. Bush announced the agreement on August 31, 1992. In 1993 the agreement was signed and initiated by President Clinton in 1993 and the commercial implementing contract was then signed by both parties.

Dummy Boy Loc: Michigan

What's your point, my point was that this was done over 25 years ago....you do know which Bush was in charge?????