Free Republic

OPEC is pointing the finger at speculators as well as Non-OPEC countries, but especially US shale producers for the crude price crash. Let's explore that idea in a series of charts. But first let's take a look at the allegation. The Wall Street Journal reports Gulf Oil Exporters Blame Non-OPEC Producers for Glut. Gulf oil officials on Sunday defended OPECÂ’s decision last month to keep its production ceiling intact, blaming producers outside of the group for the glut of oil on the market that has depressed prices. Speaking at an energy conference in Abu Dhabi, Saudi Oil Minister Ali al-Naimi...

U.S. Tight Oil Reserves From Bust to Boom... to Bust Again?   By Keith KohlTuesday, May 13th, 2014Nowhere else in the world are people more used to the boom and bust of the oil industry than in Texas.I think it's safe to say that nearly all of us have heard of the historic gushers in the state's history — and the famous Lucas Gusher at Spindletop is arguably the most famous of them.That single exploratory well in Beaumont started it all for the Lone Star State.And while the image of 100,000 barrels of oil exploding out of the top of one...