’ After all, the Saudi strategy was for it and all other OPEC members to pump as much crude oil as possible to push oil prices as low as possible to cause as many bankruptcies as possible in the U.S. shale oil sector. The fact of the matter is that the Saudis did pump every...
Matthew DiLallo
Big Oil giants from Texas to Saudi Arabia are turning to plastic to support future growth. The International Energy Agency predicts that “oil demand related to plastic consumption overtakes that for road-passenger transport by 2050,” and its top...
Even with the United States producing so much oil, it is still heavily dependent on foreign sources. It's that dependence that crippled the country during the oil embargo of 1973 and 1974. To make sure that this situation never happens again, the federal government formed the Strategic Petroleu...
Saudi Aramco, the state oil giant, refines in northern China. Experiments with export bans have mostly been in simpler commodities, such as timber in Ghana and tea in Tanzania. By contrast, obtaining nickel pure enough to be used in electric vehicles from Indonesia’s supply is ferociously com...
the blasters can adjust how long it takes each explosive to go off. The length of the fuse itself is also a factor, since it will take much longer for the charge to move down a longer fuse than a shorter one. Using these timing devices, the blasters precisely dictate the order of the...
The U.S.natural gas industryhas enjoyed record levels of production. The U.S. became the top producer of oil and natural gas in the world in 2018, even beating Saudi Arabia.1Gas production experienced a slight dip at the start of the COVID-19 pandemic, but natural gas drilling once aga...
Second, it must decide which of the possible combinations of goods to produce—how many missiles, automobiles, and so on; that is, it must select one specific point on the production pos-sibilities frontier.. Third, it must decide how much of the total output of each good to distribute ...
Since the OPEC nations produce so much of the world's oil supply, they can manipulate the price per barrel depending on how manybarrels per daythe group will sell on the world oil market. If the group wants the price to rise in order to make more money, they can reduce the amount of...
OPEC (especially Saudi Arabia) has the upper hand in determining the direction of oil prices, but Russia has also become a key player. Non-OPEC countries also influence global oil prizes as they produce the rest of the world's supply of oil. Understanding OPEC and Oil Prices Organization ...