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| Shale up your alley! |
I have edited Guy Bechor’s Opinion Piece on the Shifting of
the focal point of crude oil beginning
2015.
I do not know how much of this is based on facts and how much on
conjecture but it makes interesting reading.
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| Stones and Rock Flakes? |
If you read this piece and believe it so based on one singular fact, then it must
be that in 2014 the USA lifted its oil export embargo technically causing a mayhem in world markets beginning in January 2015 with the phenomenal slump of world crude oil prices.
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| Mountain of Oil |
This can be described nothing less than tectonic!
And the conjecture part?
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| Minting Oil Money |
Bechor tells you that this will be
the likely scenario.
I will put them in bullet points.
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| New Black Gold |
- The new innovative technology has flung open the doors to extract shale oil economically which will potentially produce 12 million barrels of oil per day within a year.
- Minusing domestic consumption, a million barrels a day will be available for the USA to export! In contrast, Iran today only manages to produce 1.5 million barrels a day. Also, as of today, the USA has become the single largest crude oil producer to the world eclipsing even the oil lord, Saudi Arabia.
- Bechor expects oil to keep on dropping in price with little reprieve.
- His scenario is Arab oil exporting nations will begin to lose their shine. Politically, deprived of the oil largesse they are used to, there will be internal shocks in the form of political and social turbulence and upheavals. The sudden cutbacks will also curb their development and their influence on world politics.
- Non-OPEC nations will also enter the export market along with the USA. These include Canada, Brazil, Mexico, and Nigeria.
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| Innovation-Driven Process for Shale |
2015 is a brand new world powered by a revolution of
information, innovation and inventions.
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| Every USD Spent will bring in USD2 |
So,if you do not have a creative mind, you will so be relegated
to be fossilized!
PS:
Latest figure of oil production in USA from Commerzebank of Germany on 22 January 2015:
" The USA now produces a good 9 million barrels of crude oil per day,the largest volume in 28 years. Never before were crude stocks in the US as ample at this time of year than at present."-Reuters
PS:
Latest figure of oil production in USA from Commerzebank of Germany on 22 January 2015:
" The USA now produces a good 9 million barrels of crude oil per day,the largest volume in 28 years. Never before were crude stocks in the US as ample at this time of year than at present."-Reuters
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