| America's energy industry is battling OPEC with a ferocity not seen since the 1980s. So far, it's not backing down. The oil cartel's decision last week not scale back on production was widely seen as an attempt to choke off the U.S. shale boom. OPEC figures that by driving down oil prices, North American producers will collapse.
Both sides are feeling the heat as oil prices stay below $70. Oil rich nations are losing out on much-needed revenue to bankroll their budgets, and many domestic energy players are feeling the pressure as well...............................................Full Article: Source
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