Oil took a dive recently.
OPEC apparently wants to undercut prices of US produced oil, which use expensive techniques of extracting and need high oil prices to be in the black.
So, do they play this game until the US operations are frozen and then up the price? Or do you reckon they'll have to keep it low to suppress new oil producing countries emerging?
Is this a disaster for the US industry BTW? Or do they keep developing as they expect to turn a profit in a couple of years?
I don't know much about this industry, but hope some on the forum have an informed opinion on the matter.
OPEC apparently wants to undercut prices of US produced oil, which use expensive techniques of extracting and need high oil prices to be in the black.
So, do they play this game until the US operations are frozen and then up the price? Or do you reckon they'll have to keep it low to suppress new oil producing countries emerging?
Is this a disaster for the US industry BTW? Or do they keep developing as they expect to turn a profit in a couple of years?
I don't know much about this industry, but hope some on the forum have an informed opinion on the matter.
via International Skeptics Forum http://ift.tt/1pP1VHQ
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