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Industry News / Politics & Policy

OPEC, Russia consider 10-20 year oil cooperation: Saudi Crown Prince

Published in Industry News, Politics & Policy

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  1. This says it all, the oil exporters have no silver bullet against shale and they are afraid, really afraid. World, those who will go away greet you.

    • OPEC and Russian are not unduly worried, in the long term, of an industry mired in debt, with decline curves which fall of a cliff after two years, which requires a neverending drilling/fracturing campaign, whose lifting cost will skyrocket as soon as the third parties start charging competitive rates for their sevices and which has already drilled the ‘sweet spots’.

  2. There is enough hydrocarbon under the ground and North America last a long, long time. In the 80s, neither the Middle East nor Russia wished well for us. The period of confusion is over; the free West has energy. However, it would be hubris to discount either the Middle East or Russia. To paraphrase Rex Tillerson from many months ago, we carry our values high for the world to see, but we deal with other nations on policy. Policy is conditioned to further our national interests, usually which coincide with our allies, and hopefully to the betterment of the world. We don’t force our values on other nations.

    We can’t achieve world security and peace without treating with Russia, even if we don’t like some of the things they did in Syria or their spying. Everybody spies. Our leaders should listen to what Putin says, listen very carefully.

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