“In August 2015, Saudi Arabia declared war on shale oil development in the United States.” “In October 2016, Saudi Arabia capitulated.” Quote from, Saudi Arabia Capitulates. This has now been confirmed by an agreement among OPEC producers to cut production Continue reading What next for shale?
Do we have enough oil to become independent from OPEC? The answer isn’t straight forward because there are differing estimates of oil reserves. The oil industry readily accepts the definition of proven reserves as being, “Proven reserves, those with a Continue reading Enough Oil for Independence?
Will the price of oil collapse, and lower the price of gasoline? Or, will the price of oil find a floor? Before proceeding, the stage must be set. Recent high oil prices were primarily caused by the cut-off of Libyan Continue reading The Price of Gasoline
For half a century, our objective has been to achieve independence from OPEC, loosely described as independence from foreign oil. Finally, we can achieve this objective. Admonitions that we only have 2% of the world’s oil reserves are irrelevant and Continue reading Victory is Within Reach
A recent WSJ op-ed by Robert McFarlane said, “If we produce more oil, OPEC will sell less to keep prices high.” While this has been true in the past, it might not be true in the future, if we produce Continue reading Foiling OPEC