[thackney]

That might be true of some of OPEC, but the player that matters, Saudi Arabia, has been building one of the largest refinery/petrochemcial complexes in the world for many years in Jubail.

[petercooper]

The U.S. produces more oil than Saudi Arabia, and more natural gas then Russia. OPEC's days are over.

http://www.aei.org/publication/petropreneur-harold-hamm-summarizes-profound-implications-great-american-shale-revolution/