’ 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
” This is a strategic move by the Germans. It also would make Germany independent of the British control of the seas. They would have a landline much like the Chinese “One Belt, One Road” infrastructure for high-speed rails going throughout Eurasia into Russia, on into Belarus and ...
Oil prices always trade in fairly narrow ($20 to $40 price ) bands for decades at a time. Any significant price spikes outside of those bands are short lived. Oil is not going to $150 or $175 or $200 or ridiculously $300 anytime soon,...
After seeing how much oil the United States imports, it may be surprising to know that the United States is the world's third largest producer of crude oil. The biggest production region is around the Gulf of Mexico, and the largest producing state is Texas. The Gulf Coast region is home...
Oil needed to be used sparingly because of its high cost. Coal, used heavily in Asia, was typically much cheaper. Figure 9. US industrial energy consumption per capita, based on data of the EIA. China took the lead in industrial production after it joined the World Trade Organization in ...
How Much Does a Cruise Cost? Of course, there are millionaires who cruise, but you don't have to be one to enjoy a wonderful vacation at sea! Many people don't realize how economical a cruise can be. Cruises start at as little as $100 per person per day (double occupancy), which ...
and spearheaded the group’s response to the BP oil spill in the Gulf. Increasingly, his work has centered on plastics. “This is a much bigger problem than ‘just’ an ocean issue, or even a pollution issue,” he says. “We’ve found plastic everywhere we’ve ever looked. It’s i...
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...
Which Countries Produce the Most Oil and Gas? As of 2024, the United States is the world's largest net producer of crude oil, followed by Saudi Arabia, Russia, Canada, and China. When it comes to natural gas production, the top five countries include the United States, Russia, Iran, Ch...