If there was any doubt the U.S. shale revolution is breaking the dominance of unsavory energy producers on global oil supplies, look no further than last week's OPEC meeting, where the alarm bells were going off.
At Friday's Organization of Petroleum Exporting Countries meeting in Vienna, the mask of non-chalance about America's new fracking energy boom came off.
After years of dismissing U.S. energy production as insignificant and expensive, OPEC suddenly said it would "study" the growth in hydraulic fracturing and horizontal drilling, a deceptively bland response to the biggest challenge the cartel has ever faced on its monopoly.
The statement concealed the anything-but-tranquil tone of the meeting, in which members were attacking each other and warning of a split.
Nigeria Oil Minister Diezani Alison-Madueke declared U.S. shale oil "a grave concern," according to a report in the Wall Street Journal.And the linked article goes on from there.
Great article. Sent to me by a reader. Thank you.
The monopoly is coming to an end. Even Russia is out-producing Saudi Arabia.
Turn out the lights. The party's over. They say all good things must end:
A Note To The Granddaughters
It's hard to believe that song peaked at #24 in 1967. I was a sophomore in high school. Forty-five years later Willie Nelson is still active. I guess.
The other day at Starbucks, I happened to strike up a conversation with a 30-something who had a degree is music. He knew a bit about Willie but did not know these early songs of Willie's. He pulled out a recent photograph of his his brother standing next to Willie. I forget the back story for that photograph, but it was quite remarkable, to say the least. "The Party's Over" is a classic Willie Nelson song from that era, along with "Half A Man" and "Hello, Walls."
It is interesting to note that perhaps his most famous song and/or best song does not appear on his discography: "Crazy."
Crazy.
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