OPEC losing control, US Shale world’s swing producers as the rise in prices and the petroleum cartel unable to push it’s agenda for world control of the prices and oil that is on the world stage. Whether the Saudis like it or not, the US Shale market, because of it’s technology and ability to move to a hold position and still go back immediately to produce oil makes it a sure winner in today’s markets.
Now while there have been losers in the current oil slowdown and even in the coal here in Wyoming, the future of the minerals and energy here is viable. It will not go away. Where there are cold winters, need for electrical power, and a viable source for energy; oil is not going away anytime soon.
But the issue on the world markets today and it’s conflict over the control of the supply and the prices of oil are seen today in the light of America’s ability to produce a viable product through Shale technology. This was not always the case, as back in the seventies when the Saudis drove America and others into an economic and oil threat. We remember this, the long gas lines, and the reduction of highway speed limits. However, today as the downturn here has affected the industry the economy goes on. Companies are looking to new ways to compete and even here we have one such refinery who is equipping and overhauling it’s structure to be more efficient and in line with government regulations.
It is not over yet and the jobs will be back. Shale today and the energy industry in spite of the Obama administration push against it will survive.
WIBR/WARN Commentary on OPEC losing control, US Shale world’s swing producers
now read this, OPEC losing control, US Shale world’s swing producers
Canary CEO Eberhart says domestic shale producers increasingly have the ability to set global prices. HOUSTON, May 3, 2016 /PRNewswire/ — When OPEC members couldn’t agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartel’s reign as the world’s energy swing producer –… [Read more…]