“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?
In August 2015, Saudi Arabia declared war on shale oil development in the United States. In October 2016, Saudi Arabia capitulated. As in any conflict, there have been casualties. Perhaps 60 U.S. drilling companies have declared bankruptcy. Stock prices of Continue reading Saudi Arabia Capitulates
Recent media stories have claimed the Strategic Petroleum Reserve (SPR) is no longer necessary, or that oil from the reserve could be sold to offset the budget deficit. With this in mind, it’s important to evaluate exactly what the SPR is capable Continue reading Is The Strategic Petroleum Reserve Necessary?
In February, 1945, the ruler of an impoverished country, King Abdul Aziz ibn Saud, met with the leader of the most powerful nation in the world, President Roosevelt. The meeting took place aboard the cruiser USS Quincy in the Great Continue reading Have the Saudis Opened Pandora’s Box?
Using natural gas for powering automobiles and trucks has been stopped dead in its tracks by the low price of gasoline and diesel fuel. When Saudi Arabia decided to maintain its output of oil to keep its market share, it Continue reading Stopped Dead in itsTracks
Companies in the United States who are drilling for shale oil have had to respond to the sudden low price of oil. Saudi Arabia decided to maintain production rather than cut production to maintain the price of oil, and this Continue reading Shale Oil Revolution Continues