[ROCKLOBSTER]

fracking in the US has lessened demand for their oil, and that they need to begin to find other income sources.

Like maybe get jobs...at McDonalds.

[Talisker]

Saudi prince...Fracking could put OPEC out of Business

Of course it can - why do you think liberals are screaming themselves red in the face that it is pollutinggroundwaterccausingearthquakespoisoningfarmsmakinglandslides?

[montag813]

The day we no longer need the towelhead’s oil will be the greatest day in my lifetime. Then we can finally drop the pretense of backing Arab terrorists against Israel.

[Laurent.w]

OPEC earnings are skyrocketing.

Because $100 a barrel is now the new floor for oil.
Sanford C. Bernstein, the Wall Street research company, calls the rapid increase in production costs “the dark side of the golden age of shale”.
They estimated that the non-Opec marginal cost of oil production - the cost of production for the most expensive new fields - rose to $104.50 a barrel in 2012, up more than 250% from $30 a barrel in 2002.
At the same time, the IEA estimates it costs between $4 and $6 to produce each barrel of oil from the conventional fields in Saudi Arabia and Iraq.
So, now, OPEC is earning $1 trillion per year versus around $200 billion per year between 1985 and 2002 (today's dollars).

[dalereed]

Can’t happen soon enough!!!

They can go back to tents and screwing camels!!