PPRuNe Forums - View Single Post - Oil price collapsing and stock market in free fall.
Old 24th Aug 2015, 16:37
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jack schidt
 
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OK so lets get this put straight....

Frackers Frack to use their own oil and drive oil prices down globally by letting the oil producers build up a glut of oil...

Frackers buy the cheaper (OPEC) global oil and store it.....(OPEC is storing and pumping oil so trying to price oil down to stop the fracking but is not working. Fracking countries want OPEC to continue to reduce oil prices so OPEC can sell their oil ocean. OPEC wants to remain in control of the price and refuses to stop pumping in an attempt to price the frackers out of business).

Fracking causes cheaper oil and lowers global commodity costs due to cheaper production and transportation.

Fracking is NOT just about using that expensively extracted oil, its all about driving the global oil price cheaper and boosting the global economy.

Fracking creates extra jobs in those countries where that oil is available.


Jack
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