Quote:
Originally Posted by peebee2
It was the secondary traders who lost out there, not the producers.
The producers problem is that now they’re aren’t selling much into the future.
So they have to reduce supply to maintain prices.
They do have reserves and have long been diversifying for the day their black gold finally loses its shine and we treat them like **** again.
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I guess that's why a large percentage of the wells in my state are being closed? Reducing 'supply'. I'm not talking about supply on hand. Bahrain, like ND is a producer. If you can't pull the oil out and move it, where do you store it? How do you market it? You can't.
You have to shut down wells. Shutting down wells isn't easy, nor is it cheap. It's a monstrous cost that may actually cause the wells to produce less when they reopen.
That's kind of my point. Bahrain can no longer depend on oil income. So, where is their income going to come from? Aluminum strips? Like 5% of their total export?