Good piece, thanks for posting.
Yes, great article.
So, OPEC is busted, and for this we have US ingenuity and private property laws to thank. Can’t forget Canada.
The Saudis and the rest are powerless to control the drop in crude prices, and are now resorting to accepting and “managing” the decline.
$85 per barrel crude will infuse the economy in a big way. Perhaps an even larger boost will come from cheap natural gas prices we’ve been experiencing for some time.
Kemp gets it wrong here: the result of planning errors rather than deliberate policy.
Central planning is always deliberate. They always think they can carefully manage things. The result is planning errors. You cannot cheat the market.
All my adult life it’s been a vital US interest to ensure the free flow of Mid east oil.
Now... suddenly it isn’t!
Heck, not counting a lot of peripheral matters, it’s now against our interests. We profit if Saudi Arabia has a problem delivering oil.