Texas shale oil has fought Saudi Arabia to a standstill

Opec’s worst fears are coming true. Twenty months after Saudi Arabia took the fateful decision to flood world markets with oil, it has still failed to break the back of the US shale industry.

The Saudi-led Gulf states have certainly succeeded in killing off a string of global mega-projects in deep waters. Investment in upstream exploration from 2014 to 2020 will be $1.8 trillion less than previously assumed, according to consultants IHS. But this is a bitter victory at best.

  • Clink9

    Drill baby, drill! Time to leave the soddies behind with the tents and camels again.

    • Blacksmith

      Kick these uncivilised savages back out the door.

  • terrence22

    Apparently the soddies are going to run out of water in 10 to 15 years. Waddya expect from a desert – endless drinkable water.

  • marty_p

    The Saudi’s and the other Arab countries in the Gulf have no industry or technology beyond oil. It’ll be back to goat and camel herding and living in tents for Abdul. All those stories we hear of shitting on gold toilets, abandoning Mercedes when they need a repair, hiring labourers from the 3rd world to wait on them hand and foot for a pittance payment will soon be in the dustbin of history.
    Hopefully, their political influence will wane as well, as non oil producing countries will no longer feel the need to kiss their ass.

    • canminuteman

      I hope you are right and i suspect it will happen eventually, but it won’t be sudden. As well as gold toilets they have tons of western debt and real estate in their portfolio. If they have managed their money well they have enough to own us. And with us going broke and massively in debt, they can buy us for pennies on the dollar.

      • infedel

        Nope;we can ban all trade and take Western assets from regimes that are not within Western values and from regimes that seek to undermine, seek sedition, and seek to overthrow and replace (via sharia) constitutional republics and Western democracies. Ban islam; it not a ‘religion’ and has no western protections according to the laws on the books..

        • V10_Rob

          Oh, and who will do that? The pols whose campaign chests are loaded with Saudi money, or who want to capture a growing muslim voting bloc?

          • infedel

            A few good lawyers will show that islam is not a religion and sharia is unconstitutional…and the ‘good’ lawyers will only come forth after their children are raped by islam. In the meantime, people will rise from this betrayal and we will win against the saudi money we found for them by leaving their lands and refusing assistance and trade….they are a lazy dumb inbred lot…and nationalism will get these nwo politicians out.

      • dance…dancetotheradio

        They own Fairmont Hotels.
        Don’t stay there.

  • UCSPanther

    House Saud’s time is coming…

  • WalterBannon

    As an exporter of terror, all Saudi assets in western banks should be seized.

    A couple of nukes in the Eastern Province of Saudi would shut down their oil production for good.

    • infedel

  • Daviddowntown

    Apparently white males can do anything if they put their minds to it.

  • Brenda

    I’m afraid that when their oil goes, they’ll all want to emigrate.

    • GrimmCreeper

      I know a place in Chappaqua.

  • ntt1

    Good now start charging them with the terrorism they have exported as wahhabist barberism freeze their assets and sanction them back 1400 years, they are pretty much there mentally anyway.

  • Clausewitz

    This is why Obama hates American energy self sufficiency. It takes away a major political advantage to the heathens he bowed to on his first apology tour.