By November 30, 2017 0 Comments Read More →

Dr. Daniel Fine on Oil and Gas: Prices and Supply Short of War in Middle East

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One day after the OPEC annual meeting, although composed for publication two weeks ago, this column moves the clock forward to early 2018.  There is a background noise of regional “hybrid war” intruding on the market price of World and West Texas Intermediate oil.

Most analysts both commercial and government have failed to account for a Middle East “shock” or upset in the commodity market determination of oil and gas prices.  With Southwest and Dakota shale oil predominance, this “shock” is not about an oil supply disruption of imported foreign oil from OPEC Producers.  It is a test of confidence that domestic oil offsets Middle East oil dependence.

With the ISIS state having been destroyed in Iraq and Syria, the region reverts to the fundamental conflict over hegemony in the Middle East — Saudi Arabia against Iran.  The outline for the struggle for regional supremacy appeared after the Gulf War in the early 1990s…

 

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