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my thoughts from someone with zero exp in the oil industry but do know common sense:
The US/Canada is in full force drilling as much oil as possible. Oil drilled in US is MUCH more expensive (winter doesn't help) than Saudi Arabia where it is very cheap.
However new technologies and pipelines are making it cheaper over time.
This is threatening arab nations as oil is the only product they have. So in retaliation, they are dropping oil prices big time to try to force the oil drilling business in the US out of business.
Also ensure new pipelines aren't passed by govt and stop investments in domestic oil. Arabs are big contributors of environment protection charities btw
Car manufacturers now making cars that get 30-50mpg isn't helping either. Arabs are desperate and who knows what else they might do.
I don't think OPEC can hurt the shale oil industry simply by dropping prices. However, if they get desperate - they yield some considerable power and have zero risk.
If it takes another 9/11 to throw the US economy into a tailspin and punish US politicians for not doing as they say - they will do that.
They will protect their livelihood *at all costs*
thoughts/comments/shut up?
my thoughts from someone with zero exp in the oil industry but do know common sense:
The US/Canada is in full force drilling as much oil as possible. Oil drilled in US is MUCH more expensive (winter doesn't help) than Saudi Arabia where it is very cheap.
However new technologies and pipelines are making it cheaper over time.
This is threatening arab nations as oil is the only product they have. So in retaliation, they are dropping oil prices big time to try to force the oil drilling business in the US out of business.
Also ensure new pipelines aren't passed by govt and stop investments in domestic oil. Arabs are big contributors of environment protection charities btw
Car manufacturers now making cars that get 30-50mpg isn't helping either. Arabs are desperate and who knows what else they might do.
I don't think OPEC can hurt the shale oil industry simply by dropping prices. However, if they get desperate - they yield some considerable power and have zero risk.
If it takes another 9/11 to throw the US economy into a tailspin and punish US politicians for not doing as they say - they will do that.
They will protect their livelihood *at all costs*
thoughts/comments/shut up?
Thoughts on the OPEC vs Oil Shale war going on (article)
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