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Saudi Arabia has traditionally been a swing producer - they adjust output to meet price targets and cut back when demand drops. This time opec has decided to keep up production with the goal being to drive out us shale producers. It is working, though there are some mechinations that have proped it up longer than anticipated. Same of the less financially stable members are pissed, but gently caress those guys. It's a short term battle for market share and will end once the bottom drops out of production next year and were all enjoying $5 gas.
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Nov 2, 2015 04:59
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Yes it's been hell in Canada for the industry. Shell just cancelled a 1000 well project. Tar sands stuff is the most expensive there is to produce. I could go on for days about the us shale revolution but fracking allowed us to get at all those reservoirs and us production has skyrocketed as a result.
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Nov 2, 2015 05:09
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FlamingLiberal posted:Fracking is natural gas. That has no relation to oil. Not entirely true. In pensylvania the reservoirs are all gas but texas shale is liquid rich plus gas. There was a big move to liquid plays when gas tanked years back.
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Nov 2, 2015 05:11
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I hate these two slogans if for no other reason than it has allowed these dumb rear end "do black lives matter, or do all lives matter, senator?" questions from the media. Obviously all lives matter, but people seem to need reminding that includes black lives too. And very few call out the "all lives matter" bullshit for what it really stands for, which is that black lives do, in fact, not matter quite as much.
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Nov 23, 2015 19:30
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