Wed, Oct 22, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Market Moves, Oil more

T. Boone Pickens’ ideas on OPEC are dangerous to U.S. energy companies

Posted on 27 January 2014

In a vacuum, cutting off OPEC seems like an easy step to take, especially with North American oil output set to grow over the next several years and consumption declining. But the risk of such a move would likely cause much more harm than good in both the short and long term. After all, oil pricing is global, and OPEC can beat us on price.
Pushing OPEC’s more rogue nations could result in the market getting flooded with oil, driving prices down and burying domestic producers like Ultra Petroleum and Continental Resources Clean Energy Fuels which Pickens co-founded, itself depends on oil being expensive relative to natural gas, so oil collapsing would be devastating to his own net worth………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 37583 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
October 2014
S M T W T F S
« Sep    
 1234
567891011
12131415161718
19202122232425
262728293031