Posted on 10/13/2014 10:00:07 PM PDT by Rabin
LONDON, Oct 13
Crude oil and condensates from the United States have a break even price of below $60. OPEC members clamoring for urgent output cuts, to push prices back above $100 a barrel, suck "heavily" on oil exports.
Big Dog, Wahabi Arabia is telling the Oil Cartel, they (can't find any way to empower their PotUS) are comfortable with markedly lower oil prices for an extended period, a sharp shift in policy aimed at slowing the expansion in the U.S. shale patch.
(Excerpt) Read more at rigzone.com ...
There is also the issue of Keystone XL to consider, tho . . . Maybe we can consider ourselves energy independent on a continent basis, without reference to the Canadian border.
How does shale NG play into this equation? Isnt that cheaper energy - for stationary uses, at least - than Saudi crude?
In any case, Peak Oil is dead.
Subsidizing shale oil production?????
How very conservative a perspective, injecting government into capitalism.
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