And in spite of the Obama Administration and the barrage of anti-fracking propaganda coming from Hollywood, I might add.
Sweetness and Light
Shale oil poses threat to Gulf exports
By Ali Khalil | September 24, 2013
DUBAI (AFP) – Shale oil production could pose a threat to exports from the Gulf region, whose energy wealth has given it pivotal role in the global market and a geopolitical importance, experts say.
Saudi Arabia is the world’s top oil producer, but is only marginally ahead of the United States, whose output is gaining rapidly thanks in part to development of oil shale reserves.
That could significantly alter Saudi Arabia’s export mix, as the kingdom’s oil accounted for a whopping 16 percent of US imports last year…
Saudi Arabia, in particular, has long enjoyed the status of swing producer, being able to raise and lower production and affect market balance and prices…
"Huh. When people like Sarah Palin were saying ‘Drill Baby Drill,’ the experts and our media guardians told us no country could lower the price of oil by increasing its production. Of course, what they really meant was, they didn’t want the US to have that power."
And they don't want no stinkin' coal neither.
Shale oil poses threat to Gulf exports
By Ali Khalil | September 24, 2013
DUBAI (AFP) – Shale oil production could pose a threat to exports from the Gulf region, whose energy wealth has given it pivotal role in the global market and a geopolitical importance, experts say.
Saudi Arabia is the world’s top oil producer, but is only marginally ahead of the United States, whose output is gaining rapidly thanks in part to development of oil shale reserves.
That could significantly alter Saudi Arabia’s export mix, as the kingdom’s oil accounted for a whopping 16 percent of US imports last year…
Saudi Arabia, in particular, has long enjoyed the status of swing producer, being able to raise and lower production and affect market balance and prices…
"Huh. When people like Sarah Palin were saying ‘Drill Baby Drill,’ the experts and our media guardians told us no country could lower the price of oil by increasing its production. Of course, what they really meant was, they didn’t want the US to have that power."
And they don't want no stinkin' coal neither.
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