WTO tariff on preditory pricing of crude oil.

[synchro1]

@Pirate88179,

                    "Dumbell Peace Prize"!

[Pirate88179]

@Pirate88179,

                    "Dumbell Peace Prize"!

He sure qualifies for that one.  I just wish our "leader" protected the US the way Putin does Russia.  No one can say.."Hey, I think Putin does not like Russia."  Our "leader"?  Not so much.

Bill

[synchro1]

"Iran is about to start selling oil that may cost just $1 a barrel"

below:

Iranian Oil Minister Bijan Zangeneh at his hotel before a meeting of OPEC oil ministers in Vienna on December 3.

[lancaIV]

 The definition of "Preditory Pricing" is selling below cost. That's more then $90 a barrel for Saudi Arabia:

"Saudi Arabia requires a price of more than $90 to fund its budget. But it has $726 billion in foreign currency reserves and is betting it can survive for two years with prices of less than $40 a barrel".

Above/below costs : Saudi-Arabia as Venezuela has got the deepest exploration costs by their  crude oil exploration,some decades before the S.-A. Gharb-oilfield "sputted" the oil for 1US$/llb.
Cutting the budget down to a 40US$/llb level is not a impossibility !

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Estimating a  fair-value  for each barrel crude oil with averaged 30 US$ we can expect that more than 50US$/ea. llb during the last 5 years has been price hedged wind fall profits,
political selling restrictions(Lybia,Iran,...)  included !

For the next time we can expect with crude oil market prices in the 30-20 US$/llb range,
and for the next 10 years an average market price in the 40-50 US$/llb range,
based by the cheaper becoming shale/coal-to-gas-to-fuel exploration technology.
 
crude oil alternatives: Solar-/Wind-/Water- Energy based Synfuels

[synchro1]

The irony of Iran's recent price policy announcement is that Saudi Arabia stands to fall victim to it's own preditory pricing tactics designed to eliminate their competition. Moreover; The unwillingness of Barack Obama, to appeal to the WTO in a timely fashion as I've advised, to regulate a fair price, makes it very hard to single Iran out as a culprit. Iran has proven oil reserves  that rival Saudi Arabia's, plus Iran is more then just a mono-resource economy. Saudi Arabia may be forced to start selling it's U.S. Treasury bills, by price under cutting from Iran, which would turn the Greenback into a hyper inflation Papier Mark.