FPI / March 13, 2020 By Paul Crespo Russia and Saudi Arabia are now engaged in a full-scale oil price war where the ultimate target is the U.S. shale oil industry. Russia provoked this war days ago when it refused to follow OPEC+ plans to decrease production to maintain prices as the coronavirus saps demand. […]
FPI /December 8, 2019 Analysis by Onar Åm, LibertyNation.com When the United States became a net oil exporter in November 2019, nearly 75 years of energy dependence on dubious regimes came to an end. It happened without buzz or fanfare, but the geopolitical consequences are earthshaking. The impetus has been the shale-oil revolution, which has […]
U.S. President Donald Trump said on June 30 that Saudi King Salman has agreed to Trump’s request to increase oil production “maybe up to 2,000,000 barrels” to offset production cuts from Iran and Venezuela. Trump tweeted on June 30: “Just spoke to King Salman of Saudi Arabia and explained to him that, because of the […]
by WorldTribune Staff, March 29, 2018 A deal between Saudi Arabia and Russia that could extend the two nations’ control over crude oil supplies for the next two decades has OPEC’s blessing. Saudi Crown Prince Mohammed Bin Salman told Reuters earlier this week: “We are working to shift from a year-to-year agreement to a 10-20 […]
by WorldTribune Staff, December 8, 2016 Saudi Arabia’s strategy to drive U.S. shale out of the energy market has failed. “The new OPEC deal to cut oil output – the cartel’s first since 2008 – amounts to nothing less than Saudi Arabia’s surrender to the power of American shale,” John Hulsman wrote for UK business daily City […]
by WorldTribune Staff, September 27, 2016 The political rivalry between Iran and Saudi Arabia spilled into OPEC’s informal meeting in Algeria as Iran said it would not freeze oil output and Saudi said the meeting was merely “consultative”. Saudi has said it would support a production freeze only if all OPEC producers are committed to […]
by WorldTribune Staff, August 11, 2016 Saudi Arabia continues to pump oil at record levels as U.S. shale producers prepare to cut back amid seasonal maintenance at American refineries. Saudi has said it will not agree on limitations on production unless all OPEC nations, including Iran, agree. Iran, which has resumed production faster than expected […]
by WorldTribune Staff, June 24, 2016 Saudi Arabia has declared its war on U.S. shale (frackers) is over. Now the question is: Who won? Saudi Energy Minister Khalid Al-Falih said that since the worldwide oil glut has vanished, Saudi’s strategy of flooding the global market to try to put American drillers out of business is […]
Special to WorldTribune.com Despite its best efforts, it is impossible for Saudi Arabia to destroy the “resilient” U.S. shale industry, an analyst said. Because of its mid-cost nature, compared to the high cost of conventional drilling, shale will rebound quickly, according to Daniel Yergin, founder of IHS Cambridge Energy Research Associates, who said groups are […]
Sol W. Sanders [See Archive] If we can get your attention off Dred Scott II — the Supreme Court decision on health care costs with its byzantine political implications — something perhaps as fundamental for the U.S. and world economies is happening: a second fossil fuel revolution. The Saudis are pumping oil like mad. […]
