U.S. Winning Oil War Against Saudi Arabia

OPEC, led by Saudi Arabia, initiated an economic oil war against the United States last year in an attempt to drive U.S. shale oil producers bankrupt and stem the flow of North American shale oil onto the global market. It hasn’t quite worked out the way they wanted, and inadvertently made the U.S. shale oil industry leaner and meaner. Oil prices will remain reasonably low at somewhere around $70/bbl, and natural gas prices quite low at about $3.75 per mmcf, for many years. This is good for...

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