20.03.2014 - Is fracking the market's revenge on OPEC?
Market interference by petro states spurred the energy revolution led by fracking, according to the head of commodities research for Citigroup—and that revolution is bound to spread around the world. As it spreads, governments will find it more difficult to interfere in energy markets, said Edward L. Morse, the managing director and global head of commodities for Citi. “The irony is that what we see unfolding is a return to market forces,” Morse said during a recent panel discussion in Chicago, “an erosion of the ability of countries to use oil or natural gas as an instrument of foreign policy.”..............................................Full Article: Source
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