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Author Topic: OPEC Is No Longer in Control of Oil Prices  (Read 212 times)

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Offline Jaime

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OPEC Is No Longer in Control of Oil Prices
« on: Thu May 18, 2017 - 14:11:05 »

Offline The Barbarian

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Re: OPEC Is No Longer in Control of Oil Prices
« Reply #1 on: Wed May 24, 2017 - 21:33:06 »
The United States, though shale, natural gas, advances in energy-efficient technology, and alternative sources, has made the US much less dependent on OPEC.    The trend, if it continues for five years, will have the US a net zero importer of oil.    As most economists predicted, it was a combination of factors that brought us to this point.

That's a massive advantage for us.


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Re: OPEC Is No Longer in Control of Oil Prices
« Reply #1 on: Wed May 24, 2017 - 21:33:06 »

Offline Jaime

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Re: OPEC Is No Longer in Control of Oil Prices
« Reply #2 on: Mon May 29, 2017 - 07:54:55 »
I don't think it will take 5 years. The shale revolution is leaping ahead of all prognostigators. Even at $45 to $50 per barrel, the pace of development in the oil patch is staggering. The Saudis and OPEC are in full blown panic because their price cutting scheme failed to drive out the US shale industry. and has set them up to lose serious market share at a time they can ill afford it.
« Last Edit: Tue May 30, 2017 - 08:35:05 by Jaime »

 

     
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