OPEC

Gee, I remember in the mid-70s that OPEC wanted us on our knees, oil-wise

by Skip May 11, 2017

Heh!  Reformatted, emphasis mine: OPEC to U.S.: Please don’t pump so much oil! OPEC has asked a favor of other major producers: Please stop pumping so much and help us balance the market. The unusual plea was issued Thursday in the cartel’s closely-watched monthly report, which found that global markets are still suffering from too much […]

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Is this why Obama and “leave it in the ground enviro-weenies” tried to kill off fracking?

by Skip March 18, 2017

“The leaner, meaner and more resilient U.S. shale is basically wiping out OPEC’s efforts to achieve higher oil prices with the output deal.“ “wellhead breakeven prices in the Permian Midland have dropped from $71/barrel in 2014 to $36/barrel in 2016–a 49-percent decrease“ OK, I kid about the second group (“leave it in the ground enviro-weenies”) […]

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US Frackers – better than Foggy Bottom at swaying geopolitical balance of Powers?

by Skip February 21, 2017

Heh!  For years, OPEC has been an energy bully as well as funding Middle Eastern spawned Islamism. It seems, however, that their days of exclusively using an oil club to get their way is fading: Chinese independent, or teapot, refiners are bringing in rare cargoes of North American heavy crude in a new long-distance flow […]

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OPEC’s delusional dilemma

by Skip November 29, 2016

All things come to an end – and it’s looking like it is now OPEC’s time: Shot: “The reality is that only Saudi Arabia and perhaps the U.A.E. and Kuwait are prepared to make any cuts, and those will be modest and short-lived,” said Bob McNally, founder of consultant Rapidan Group in Washington. “At best, […]

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US Frackers will REJOICE over this!

by Skip October 30, 2016

OPEC is desperate to see oil prices go up and so is Russia (both the latter and the Sauds are on a real downward trend on their financial reserves) so I’m not surprised about this.  However, there’s one phrase in this that makes no sense at all (emphasis mine, reformatted) and includes the US fracking […]

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And US frackers have done more for US foreign policy than Obama/Hillary “Smart Diplomacy”

by Skip September 27, 2016

by simply out-working and out-innovating everyone else: Few predicted that in the fall of 2014, when Saudi Arabia signaled that it wouldn’t curb its output to put a floor under crude prices. Oil pundits concluded that a brutal culling would force higher-cost players known as marginal producers—a group that includes shale drillers—out of the market. […]

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Has Shale Oil Technology Changed the World?

by Steve MacDonald January 19, 2016
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Imagine a world where war or turmoil in oil producing nations has little to no effect on the price? Is that world today? (Emphasis mine.) Even as the U.S. rig count has retreated like Napoleon from Russia, shale remains the key to understanding the global oil landscape. Consider that despite all of the turmoil in […]

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In my lifetime, I never thought I’d see this line:

by Skip April 14, 2015

I got my drivers license back in 1973 – in fact, in October.  The exact same month that OPEC declared its oil embargo against the US.  One day, gas was 25 cents / gallon.  Then it climbed to 55 cents – hard to take as a high schooler working 10 hours / week part time […]

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What If We Could Drill Our Way Out…

by Steve MacDonald October 13, 2014
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File Under: The TEA Party was right again. The United States is set to be crowned the world’s largest producer of liquid petroleum this week, knocking Saudi Arabia off the top spot for the first time in two decades.  The Shale-boom states are booming. (Times UK/Pay wall) The United States is set to be crowned […]

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Hpocrisy of the Left – yet another example

by Skip August 13, 2012

Nothing more needs to be said. (H/T: Troglopundit)

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