Is Dubai about to go Bankrupt?

[Arraya]

[quote=Nor-LA-SD-guy]Just think if we no longer had to import Oil we would probably run a trade surplus.

Worth doing IMO.[/quote]

HAHA… I’d love to see what our country would look like going from 20 million + barrels a day to 6 million,

After the soviet union collapsed cuba’s oil imports got cut in half. See what happened to them for an example.

[Eugene]

[quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.

[Eugene]

[quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.

[Eugene]

[quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.

[Eugene]

[quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.

[Eugene]

[quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[jficquette]

[quote=Eugene][quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.[/quote]

It includes private debt to Russian companies in the oil and gas business and other enterprises.

Here is an old article about it. http://seekingalpha.com/article/119590-russia-about-to-default-on-sovereign-debt-again

[jficquette]

[quote=Eugene][quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.[/quote]

It includes private debt to Russian companies in the oil and gas business and other enterprises.

Here is an old article about it. http://seekingalpha.com/article/119590-russia-about-to-default-on-sovereign-debt-again

[jficquette]

[quote=Eugene][quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.[/quote]

It includes private debt to Russian companies in the oil and gas business and other enterprises.

Here is an old article about it. http://seekingalpha.com/article/119590-russia-about-to-default-on-sovereign-debt-again

[jficquette]

[quote=Eugene][quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]

This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.[/quote]

It includes private debt to Russian companies in the oil and gas business and other enterprises.

Here is an old article about it. http://seekingalpha.com/article/119590-russia-about-to-default-on-sovereign-debt-again

[Author]

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