Now into the seventh year of the Obama administration, what a change
has been wrought in our energy security.Only half a decade ago liberals
were predicting that oil production had peaked.Only last year analysts
were saying that we’d never see oil below $100 again. Ever.
While the Keystone Pipeline lingers, private oil exploration and production in the United States has assured this country, for the first time in my lifetime, is the dominant player not just in oil consumption, but in oil supply, as well.
And oil price.
Analyst at UBS say the magic number is $65-$70 a barrel. Their point is that oil production in the United States has a breakeven price of $60-$65 a barrel. And since US production can better offset the production from OPEC countries than previously, the breakeven U.S. price will likely determine the overall price of oil in the market.
How did it happen? By good old fashioned U.S. innovation.
http://finance.townhall.com/columnists/johnransom/2015/03/07/the-world-really-is-full-of-oil-n1966979
While the Keystone Pipeline lingers, private oil exploration and production in the United States has assured this country, for the first time in my lifetime, is the dominant player not just in oil consumption, but in oil supply, as well.
And oil price.
Analyst at UBS say the magic number is $65-$70 a barrel. Their point is that oil production in the United States has a breakeven price of $60-$65 a barrel. And since US production can better offset the production from OPEC countries than previously, the breakeven U.S. price will likely determine the overall price of oil in the market.
How did it happen? By good old fashioned U.S. innovation.
http://finance.townhall.com/columnists/johnransom/2015/03/07/the-world-really-is-full-of-oil-n1966979
No comments:
Post a Comment