RE:RE:RE:Goldman....Chief1 wrote: rayjd93 wrote:
Pretty crazy how this whole experiment has costed the Saudi's ~300B in 2 years.
Reserves in mid-2014 - ~740B
Debt in mid-2014 - ~0B
Net mis-2014 - ~740B
Reserves today - ~540B
Debt today - ~100B
Net - ~440B
Be thankful in a way. They suppressed many high cost oil from coming online like the oilsands and offshore which wouid of suppressed oil for many more years.
Yeah, I definitely agree. By the end of 2017, there is going to be next to 0 big off-shore projects coming online. That's ~22M barrels/day of production that declines in the 10-15% range that will be getting very little investment, and the lack of investment is basically locked in now to last until 2019 and likely beyond.