While I disagree with the author’s opinion that other nations around the world will not be able to frack for oil and gas, let me sing the praises of American Frackers.
IMAGINE, without fracking (and Trump’s unshackling of the industry) what the cost of oil would be when Iran said they’d block the Strait of Hormuz.
We’re talking over $100 bbl. in a hurry.
His argument is NOT that they don’t have the oil to frack; but that it is so remote and difficult to get to (Russia), or that they don’t have anywhere near the engineering know how to get it (everyone else), or that the military tensions in the regions make long-term investment there impossible or near impossible.