by Gilbert B Norman
In Tuesday's Times (which I only got to today while the rest of the world plays Christmas), there is an extremely provocative column. The columnist's opinions formerly appeared in the Business section, however he has been "promoted" to the main Op-Ed pages:
http://www.nytimes.com/2014/12/23/opini ... f-oil.html" onclick="window.open(this.href);return false;
Brief Passage (the word "Railroad" appears twice within the column):
http://www.wsj.com/articles/why-saudis- ... 1419219182" onclick="window.open(this.href);return false;
While this material is not exactly railroad related, the entire geopolitical universe with regards to worldwide oil production/consumption worldwide is a matter to which any of us participating at this topic should be of great interest and concern.
http://www.nytimes.com/2014/12/23/opini ... f-oil.html" onclick="window.open(this.href);return false;
Brief Passage (the word "Railroad" appears twice within the column):
And then, of course, there is the effect of the shale revolution in the United States, where oil production has nearly doubled, to nine million barrels a day from five million a day, in the space of six years. The conventional wisdom holds that the Saudis “fear” the influx of shale oil onto the market — as The Wall Street Journal put it on Monday — and that they want to see the price go down in order to drive out some of that shale production.Here is the Journal article to which is referred within the selected Brief Passage (and which on my part still needs a more intensive read):
But the Saudis don’t really fear shale oil. “I’ve heard officials in Saudi Arabia call shale a blessing,” said Robert McNally, the founder and president of The Rapidan Group, who is also affiliated with the Center on Global Energy Policy. “Shale oil is light,” he added. “Saudi oil is medium and heavy, and their real competitors are the Iraqis and the Iranians.” The Saudis can adjust to shale oil more easily than many other countries.
http://www.wsj.com/articles/why-saudis- ... 1419219182" onclick="window.open(this.href);return false;
While this material is not exactly railroad related, the entire geopolitical universe with regards to worldwide oil production/consumption worldwide is a matter to which any of us participating at this topic should be of great interest and concern.