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The economics of shale oil: Saudi America

Posted on 14 February 2014

The benefits of shale oil are bigger than many Americans realise. Policy has yet to catch up. Until the early 1970s, America was the world’s largest oil producer and the Texas Railroad Commission stabilised world prices by dictating how much the state’s producers could pump.
When Arab states slapped an oil embargo on Israel’s Western allies after the six-day war in 1967, Texas cushioned the blow by allowing a massive production boost………………………………………..Full Article: Source


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VRS - who has written 40639 posts on Opalesque Commodities Briefing.


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