OPEC nations grapple with oversupply of oil

Associated Press ^ | December 4, 2019 | Cathy Bussewitz

[wildcard_redneck]

OPEC is screwed. America is still a free market economy and the multitude of fracking companies will continue to make improvements to the technology and continue to drill more wells as long as there is a profit margin.

I predict that fracking will be the de facto drilling method in the foreseeable future and that costs to produce oil and gas in the US will fall well below that of all foreign countries.

The pirate-kings of the Middle East would be wise to have a bug-out plan when they can no longer rain money down on their well connected backers and the average citizens.

[abb]

The ragheads will go back to wandering about in the desert killing each other, like they did a thousand years ago.

I read a history of early oil development in the Middle East a few years ago. Prior to the British showing up and discovering oil, most of the population lived in Stone Age conditions. Camel dung was used as a cure for cuts and abrasions.

[fedupjohn]

Patiently waiting for that $2/gal. gas.

$2.31 here in NJ & they pump it for us at that price

[BwanaNdege]

$2.15 last week in Hickory, NC

[Bluebeard16]

Got gas for $2.29 a gallon in Gary, IN yesterday. Filled the tank before I headed back over the border to the sh*thole that is the over-taxed state of IL.