More Shale Good News: OPEC Running Scared
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  • Kris

    Drat it all! I guess all of the money OPEC funneled the Greens’ way was wasted.

  • Jim.

    Isn’t OPEC’s oil about half as expensive (or less) than oil shale, to pump and process?

    They’re not going to lose, guys. Their profits will continue to be very impressive, which is bad, as far as the war on terror and the broader Middle East is concerned. They’re just not going to control the game anymore, which is something, a very good something.

  • Mark in Texas

    So now might be a good time for a NAFTA oil tax. The US, Canada and Mexico can each charge $1.00 per barrel tax on oil imported from outside of NAFTA countries. This would have minimal effect on oil prices in the United States since most of the oil that we import is from Canada or Mexico. It would tend to make the price of OPEC oil $1.00 less per barrel on the world market and would provide some protection for US, Canadian and Mexican oil producers against price fluctuations engineered by OPEC.

    If any oil is imported, the taxes collected on it might help with some of the federal deficit, although I expect that the main effect of the tax would be to decouple North America from the global oil market.

  • Wanderer

    “Isn’t OPEC’s oil about half as expensive (or less) than oil shale, to pump and process?”

    Yes. Plus, shale wells peak their first year then decline ~25%/ year afterwards. Conventional wells sustain high production for far longer. So Mead thinks that “Frack! Frack! Frack!” on a hamster-wheel from hell in a solution, when in reality, shale hydrocarbons are a mania, a bubble, which will soon go the way of the South Sea and the tulips.

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