posted November 26, 2017 10:31 PM            

It would be a major victory for US Economy to produce its own Crude, and it would also be a major victory for China and India as Crude prices fall.

Hopefully, this would mark the end of the "Petrodollar" and enable the Yuan to be the Global Reserve Currency because the entire concept of Petrodollars was due to Aramco/USA-Saudi partnership.

posted November 26, 2017 11:23 PM            

What makes you think crude oil prices would fall if America produces enough to supply our own domestic needs and even exports crude?

More crude than is needed to supply world markets won't be produced. OPEC nations...and others will cut production to stabilize prices.

posted November 27, 2017 09:02 AM            

No one is going to overthrow the supply/demand axiom...at least...not for long. Oil producers will tailor production to match demand. When there's a glut of oil on the market, producers cut production.

The notion that solar and wind will put oil, natural gas and coal out of business is a grade A delusional fantasy.

OPEC’s Clash With U.S. Oil Is Nearing Its Day of Reckoning
Grant Smith
November 27, 2017

Strategy of cartel has helped to deplete half surplus stocks

Bolstering prices is emboldening American shale-oil drillers

The U.S. shale revolution is on course to be the greatest oil and gas boom in history, turning a nation once at the mercy of foreign imports into a global player. That seismic shift shattered the dominance of Saudi Arabia and the OPEC cartel, forcing them into an alliance with long-time rival Russia to keep a grip on world markets.

So far, it’s worked -- global oil stockpiles are draining and prices are near two-year highs. But as the Organization of Petroleum Exporting Countries and Russia prepare to meet in Vienna this week to extend production cuts, ministers have little idea how U.S. shale production will respond in 2018.

“The production cuts are effective -- it was absolutely the right decision, and the fact of striking a deal with Russia was crucial,” said Paolo Scaroni, vice-chairman of NM Rothschild & Sons and former chief executive officer of Italian oil giant Eni SpA. Nonetheless, “OPEC has not the same power. The U.S. becoming the biggest producer of oil in the world is a dramatic change.”.......
http://www.bloomberg.com/news/articles/2017-11-27/opec-battle-w ith-u-s-for-oil-supremacy-nears-day-of-reckoning

posted November 27, 2017 03:25 PM            

The World will always need lubricants and Organic Solvents. So Crude will be in play at a reasonable 40-45 dollars a Barrel in the future.

USA will always need Coal, now that GOP will always be in power this century. I mean what kind of barbarians use Solar Panels? Come on. Coal it is, nothing like some ash in the sky to heal Red State Lungs. And the jobs, Oh those beautiful coal mining jobs... more precious than Bilbo Baggins treasures....

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Astrology Articles

posted November 27, 2017 03:35 PM            

partiality because DJT hasn't large oil interests. Also O increased US production that stayed home. When W was Prez I paid more, 3 times more.