Price Of Gasoline, the Middle East and OPEC
There are several factors why the price of gasoline is continuing to fall but one of the reasons is the United States’ growing capacity to produce its own energy through shale or tight oil.
According to analysts, the US could become energy independent as early as 6 years from now. But there is a conundrum to this seemingly happy news for everyone.
Hydraulic fracking and the process of refining tight oil require a big investment. Fracking can only remain viable if the oil prices stay high.
With cheapening oil gases from the Middle East, there’s a huge tendency for the demand for locally processed oil to decline.
This is the issue that the article posted on USA Today clearly explains. As long as the demand for oil produced in the Middle remains stable, there is still a great chance OPEC can regain market share and control.
Read Full Article At: http://www.usatoday.com/story/money/markets/2014/11/02/opec-oil-stocks-energy-gas-middle-east/18247191/
Terry Smeader
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