6 ms·
The US (and Canada) can always increase shale oil production. OPEC will never be as powerful as they were before the 2010s.
by wefarrell 4y ago
The US (and Canada) can always increase shale oil production. OPEC will never be as powerful as they were before the 2010s.
- Eddy_Viscosity2 4y agoNot quickly though. It takes years to bring new capacity online.
- wefarrell 4y agoYes, but when they start to bring them online OPEC immediately increases production to cut prices and make shale less viable.
- jacooper 4y agoAnd they can be easily countered by burning the prices for a short while, driving them to bankruptcy.