Al-Anabi leaving racing

[treessavoy]

It's a dam shame when a plain ole Billionaire can't afford to go racing anymore...feel sorry for them. Note: sarcasm.

JimR

[FINESPLINE]

Originally Posted by mopacltd

Qutar is in the natural gas business, not oil.

You might have hit that one one the head. Considering all the the natural gas deposits in the the U.S. and all the fracking going on here, it might be driving the prices down affecting their economy. Play money getting a little short to come by. My $.02

[CMcAllister]

Originally Posted by mopacltd

Qutar is in the natural gas business, not oil.

Qatar is involved in other things as well. Not going to make this political, but a few seconds on Google will tell the story. I was not enthusiastic about their involvement and I'm not sorry to see them go.

[FireSale]

The ruling family of Qatar is a strong supporter of Palestine. I believe moving out of the US racing business wasn't all His Excellency Sheik Khalid bin Hamad Al Thani's idea.

Dale

[HR9121]

I believe this to be more political than anything. Qatar is a member of OPEC which controls the price of oil by determining how much will be pumped, supply and demand, my understanding from our oil supplier is that they are the ones driving the price down trying to break our companies in the US. According to him it cost companies in our country $81 to produce a barrel of oil whereas it cost those countries half or less to produce the same.

[MR DERBY CITY]

It's a shame for Alan Johnson, Langdon,and their families ...given the short notice that they received. M.J.

[Bruce Schoenbaechler]

the last year there has been somewhat of a "whizzing" contest between the shale oil producing companies in the US and OPEC. OPEC believes that the US companies can't survive oil at $50 a barrel. The US companies say their good to $30 a barrel. I guess the first to blink loses. If the US companies can't compete past a certain price, I'm betting gas prices will soar...

[novassdude]

I find it funny how OPEC is blamed for driving the price of oil down by not cutting production (they have not raised production) Yet the US is finding new oil and increasing production almost daily.
Parts of the US have a $80 dollar a barrel break even at this moment. But many areas are well below that price point. From what I have been seeing and hearing that price will go down as drilling slows. With all the booming that was going on in the US the support companies could demand top dollar. Now with less rigs running there is less need so the prices will have to drop accordingly.


Personally I don’t care the reason I like the lower gas prices. I just hope they stay there till playing season get here.

[FireSale]

Backlash to the Republican Congress push for approval of Keystone XL?

Dale

[GUMP]

"LONDON, Oct 10 (Reuters) - Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output."

The bottom line is that OPEC does not like the USA producing it's own oil.