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Index / Oil Shale / Economics

Dr. Conca reports that last year OPEC, led by Saudi Arabia, initiated an economic oil war against the U.S. when it refused to cut production in November of 2014 like it usually does when oil prices drop. This was an attempt to drive some U.S. shale oil producers bankrupt and stem the flow of North American shale oil onto the global market. In fact, OPEC actually increased oil production in November, which drove oil prices down to nearly $50/bbl, the price at which many shale producers can not break-even. But it has not quite worked out the way they wanted. In fact, Dr. Conca concludes that the... More →
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Find Out More »  |  Open Resource  |  2015/07/22  |  291 Report Broken   Tell A Friend
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