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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The major international oil companies want in on Venezuela because the world has reached peak oil demand. This means oil surpluses and falling prices.

Venezuela has low production cost($8-$12 a barrel). 
The US is a high cost oil producer. Fracking cost $70-$100 a barrel. If oil is headed to $30-$40 a barrel or lower oil over the next 5 years companies need to find low cost production to make money.

Oil prices in the last five days has fallen by 3.71%. This is with Russian(3rd largest producer) production severely cut and Trump announcing an oil blockade of Venezuela(18th largest producer). [/quote]

The world is past peak oil demand. Prices are low, demand is dropping and it is only Russia and the saudi's who are scrambling to maintain any sort of market share, given the rest of the world has moved on to renewables and nuclear.[/quote]

Shale production does not cost $70-100 a barrel.  It costs half that.  If PP is talking out of their buttocks on that...[/quote]

[quote] Breakeven for Shale Oil is $70/Barrel Now; Report Says Going to $95
new report from big energy data analytics firm Enverus finds that the average breakeven price for new shale wells in the United States currently sits at $70 per barrel. That's a problem, because the sale price for a barrel of West Texas Intermediate (WTI) crude has been firmly in the $60s for months. U.S. shale drillers can't drill new wells if they lose money. Consequently, they're beginning to lay down the rigs and stop new drilling. But here's the even more troubling part of the report: Enverus predicts the breakeven price will rise to around $95 per barrel within ten years.[/quote]
https://marcellusdrilling.com/2025/09/breakeven-for-shale-oil-is-70-barrel-now-report-says-going-to-95/#:~:text=Breakeven%20for%20Shale%20Oil%20is,to%20$95%20%2D%20Marcellus%20Drilling%20News

Shale production $70 a barrel and increasing.  [/quote]

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