mornelithe said:
You asked a question, I answered the question, and informed you of apparently several things you weren't aware of. You then brought up India, clearly without thinking through what I'd written, since India producing shale would continue to negatively impact the demand for oil. Has the US lowered Shale oil/natural gas production? The US consumes a gigantic amount of oil and natural gas, the more we produce at home, floods the market and lowers the prices, and as I said, negatively impacting Russia (and Iran's) economy. This is what the US Government wants. And will very likely continue to do so. |
I'm not interested in political propagandas.
I wasn't aware of the US's removal of oil exporting ban. I followed it last year but didn't pick up on it.
I was sure we were still under the policy signed in 75. All I was reading was shale oil companies going belly up because the price/barrell wasn't enough to keep their business afloat.
US hasn't lowered their production in general because a lot of shale oil companies are drilling even while filing for bankruptcy. But most can't get a contract for new wells. Also, banks are lowering the credit they once showered the energy companies with.
I brought India because they are becoming more and more self sufficient with new wells they're digging and that's the panorama of the big oil consumers in Asia. They're starting to become more self sufficient and exporting in the process. This is the case of Japan and China.
This is not having a great impact on a lot of oil companies in the US that have been filing for bankruptcy.
Just to chime in on propaganda buzz, Gazprom can just sit and chill on natural gas sales in Europe while waiting for oil demand to go up again with less actors on the market and resume business.
