07.04.2015 - Who's to Blame for the Oil Price Crash?
When we think of the recent drop in oil prices , the question is not only who started it, but who's responsible for keeping the prices falling. Probably no one would dispute that the price plunge began with the eager and copious production of oil from shale formations in the United States. From the American perspective, that was beneficial because it was bringing energy self-sufficiency to a country with the reputation as the world's largest importer of oil. Despite unproven concerns about hydraulic fracturing, or fracking, a common way to extract oil and gas from underground shale rock, the practice has proven extremely productive. And that's the source of the oil glut that began driving down prices in late June 2014...............................................Full Article: Source
Print