Quote:
Originally Posted by 12clicks
in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack.
but what do I know.
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a good article on that.
http://www.theguardian.com/business/...ship-shale-gas
I'm not sure at what price Saudi oil becomes unprofitable but it is much less than the other OPEC countries. Saudi Arabia could very well also be trying to subvert iranian and russian oil.
I wonder how much longer OPEC will go without curbing production ..........