Home › Forums › Financial Markets/Economics › Is Dubai about to go Bankrupt?
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patb.
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November 29, 2009 at 5:52 AM #488679November 29, 2009 at 10:31 AM #487858
CricketOnTheHearth
ParticipantThe Dubai thing is apparently drawing a lot of attention. Here from the chatttersphere is a YouTube clip from “Russia Today”, sent me by a friend.
But I knew Dubai’s troubles were a matter of time.
November 29, 2009 at 10:31 AM #488024ParticipantThe Dubai thing is apparently drawing a lot of attention. Here from the chatttersphere is a YouTube clip from “Russia Today”, sent me by a friend.
But I knew Dubai’s troubles were a matter of time.
November 29, 2009 at 10:31 AM #488404ParticipantThe Dubai thing is apparently drawing a lot of attention. Here from the chatttersphere is a YouTube clip from “Russia Today”, sent me by a friend.
But I knew Dubai’s troubles were a matter of time.
November 29, 2009 at 10:31 AM #488492ParticipantThe Dubai thing is apparently drawing a lot of attention. Here from the chatttersphere is a YouTube clip from “Russia Today”, sent me by a friend.
But I knew Dubai’s troubles were a matter of time.
November 29, 2009 at 10:31 AM #488724ParticipantThe Dubai thing is apparently drawing a lot of attention. Here from the chatttersphere is a YouTube clip from “Russia Today”, sent me by a friend.
But I knew Dubai’s troubles were a matter of time.
November 29, 2009 at 3:17 PM #487973patb
Participant[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]
Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.
John[/quote]
Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.
Turns out, the more you suck out of the ground the more expensive it gets.
Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]
The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.The problem is the Conservatives who squeal like
little girls at the word tax.November 29, 2009 at 3:17 PM #488138Participant[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]
Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.
John[/quote]
Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.
Turns out, the more you suck out of the ground the more expensive it gets.
Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]
The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.The problem is the Conservatives who squeal like
little girls at the word tax.November 29, 2009 at 3:17 PM #488520Participant[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]
Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.
John[/quote]
Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.
Turns out, the more you suck out of the ground the more expensive it gets.
Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]
The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.The problem is the Conservatives who squeal like
little girls at the word tax.November 29, 2009 at 3:17 PM #488608Participant[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]
Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.
John[/quote]
Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.
Turns out, the more you suck out of the ground the more expensive it gets.
Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]
The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.The problem is the Conservatives who squeal like
little girls at the word tax.November 29, 2009 at 3:17 PM #488839Participant[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]
Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.
John[/quote]
Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.
Turns out, the more you suck out of the ground the more expensive it gets.
Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]
The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.The problem is the Conservatives who squeal like
little girls at the word tax.November 30, 2009 at 1:19 PM #488211jficquette
ParticipantIf Democrats paid as much in taxes as Republicans then they would be paranoid about them too. Democrats pay at most maybe 10-20% if the federal income taxes. Maybe if everyone pay a straight % then more people would get involved in how much money is being wasted.
All I am saying is the only reason Oil costs what it does now is to keep countries from going under. Has very little to do with costs of production.
John
November 30, 2009 at 1:19 PM #488378ParticipantIf Democrats paid as much in taxes as Republicans then they would be paranoid about them too. Democrats pay at most maybe 10-20% if the federal income taxes. Maybe if everyone pay a straight % then more people would get involved in how much money is being wasted.
All I am saying is the only reason Oil costs what it does now is to keep countries from going under. Has very little to do with costs of production.
John
November 30, 2009 at 1:19 PM #488760ParticipantIf Democrats paid as much in taxes as Republicans then they would be paranoid about them too. Democrats pay at most maybe 10-20% if the federal income taxes. Maybe if everyone pay a straight % then more people would get involved in how much money is being wasted.
All I am saying is the only reason Oil costs what it does now is to keep countries from going under. Has very little to do with costs of production.
John
November 30, 2009 at 1:19 PM #488848ParticipantIf Democrats paid as much in taxes as Republicans then they would be paranoid about them too. Democrats pay at most maybe 10-20% if the federal income taxes. Maybe if everyone pay a straight % then more people would get involved in how much money is being wasted.
All I am saying is the only reason Oil costs what it does now is to keep countries from going under. Has very little to do with costs of production.
John
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