Monday, January 05, 2015 6:22:19 PM
Unless there is required drilling to claim them. I suspect any weak frackers will get gobbled up by big oil if this nonsense lasts more than a year. Who will then sit on shuttered production, until oil prices fully recover.
Dunno about that. But with Russian and Iraq production going up in Dec driving oil down more seems to be a slight backfire to the Saudi plans to grab market share. Russia is maxed out. Iraq can still increase. And Libya could also increase, in between bullets, and bombs.
Imagine what happens if Iran ever escapes from sanctions. They have told the market they will double production from 1M to 2M in 2 months after sanctions. A 1M increase, which is just about the 2014 US frack increase that the Saudis were all excited about. Irony are the like numbers. The Saudis need to herd the worms back into the can, while they still are able to do so.
The Jewel of the Mind is Colored with the Hue of what it Imagines
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