Oh the irony...Saudi Arabia running out of money..

Discussion in 'Lounge' started by SWAGA, Oct 26, 2015.

  1. SWAGA

    SWAGA No longer broke... Lifetime Supporter

    And it gets even better:

    The irony of the stuff pretty much coming out of the ground for free through no effort of yourself and you have such a lobsided economy that you're heading full throttle for the cliff's edge.

    http://money.cnn.com/2015/10/25/investing/oil-prices-saudi-arabia-cash-opec-middle-east/
     
  2. lklawson

    lklawson Staff Member

    They're infected with Westernitus. One of the most important symptoms is Spending Beyond Your Means. Another one is Refusing To Readjust Spending Budgets To Current Income.

    They're just as screwed as the rest of us. :(

    Peace favor your sword,
    Kirk
     

  3. SWAGA

    SWAGA No longer broke... Lifetime Supporter

  4. Bull

    Bull Just a Man Supporting Member

    Maybe this'll cut into their mosque building funds....
     
  5. Fracman

    Fracman Member

    887
    437
  6. talon

    talon the banned wagon

    Just means they'll have to have sale specials on Slurpees and 9 day old taqueritos at thier 7-11's or take costumers a few extra miles out of the way on cab rides to offset costs.
     
  7. bscar

    bscar Supporting Member

    OHNOES!

    They'll have to settle on gold plated Toyotas instead of Range Rovers or Mercedes now.
     
  8. Bull

    Bull Just a Man Supporting Member

    I heard they're cutting off taco Tuesday's, and goat hump day Wednesday.....
     
  9. undeRGRound

    undeRGRound ROLL wif Da MOLE! Supporting Member

    25,318
    1,559
    INDY
    [​IMG]
     
  10. mawguy

    mawguy Sheep Dog Member

  11. Bull

    Bull Just a Man Supporting Member

    Mawguy is alive!
     
  12. OldOutlaw

    OldOutlaw Supporting Member

    Same situation with the World's #3 producer. Russia. Russia is in far worse hurt right now than the Saudis are. And, Russia has far less cash reserves to get by on. Putin has been spending instead of Saving their available cash.
     
  13. Bull

    Bull Just a Man Supporting Member


    Which IMHO, is why they're waging war.....
     
  14. OldOutlaw

    OldOutlaw Supporting Member

    Yep. Putin is trying to stir up Nationalism there to distract people from the falling standard of living they are having happen. Some of the Russian Online News Papers
    have commented a few times now.

    Oh yea, add all the EU and US Sanctions. Heavy on their Oil Banks and drilling technology. Russia has some serious problems. Going broke was what ended the old USSR that Putin loves.
     
  15. ajole

    ajole Supporting Member

    34,630
    10,962
    NE Utah
    That article is a freaking joke. Prices aren't "falling", they are being cut to undermine the Kingdom's rivals.

    $50 oil won't hurt them much, Saudi Arabia is the country that forced oil under $50, it was their plan. They can cut back on exports and jack prices up at any point in time, this isn't a threat to them...it's a threat to other OPEC, U.S. and Russian oil companies, as it was intended to be.

    They only have enough money to run in the black for 5 years...the U.S. hasn't got a chance to get into the black in the next 20 years. Not one single oil producing company can compete for long, and the fact is, the Saudis will be in the driver's seat when this is all over.

    Here's a different take on things.

    http://www.forbes.com/sites/nathanv...as-750-billion-bet-drives-brent-oil-below-54/
     
  16. Kiln

    Kiln Member

    3,092
    4
    Racial stereotypes. Classy.